Avrio rebrands as Rio Investment Partners, unveils $150 mln fund
Canadian venture capital firm Rio Investment Partners has raised $77.5 million in the first close of a $150 million fund focused on investing in North America's agri-technology and food technology value chain. The fund's backers include Farm Credit Canada. Rio, which has offices in Calgary and Montréal, is the successor to Avrio Capital. It is led by several Avrio team members, including Co-founder and Managing Director Aki Georgacacos, Managing Director Steven Leakos and Principal Jonathan Goodkey. Jean-Francois Huc, formerly the CEO of BioAmber Inc, also joined Rio as co-founder and managing director. Rio's fund will invest $3 million to $10 million in growth-stage companies operating in the various segments of the agri-food technology market.
