InvestEco Capital raises $106 million for fourth sustainable food fund

By June 29, 2026
Mara Renewables lead scientist Michael Milway at Mara's laboratory in Dartmouth, NS.
Toronto-based investor targets companies promoting a healthier, more sustainable food sector.

Toronto-based venture capital firm InvestEco Capital has closed $106 million for its fourth sustainable food fund. 

The news: InvestEco announced the final close for its largest fund to date on Monday morning. The firm will use the fund to continue investing in companies that promote health and sustainability in the food sector.

InvestEco Sustainable Food Fund IV has already invested in several consumer-packaged goods (CPG) companies, including Humble Snacks, Little Sesame, Mid-Day Squares, and Algae Cooking Club. 

From the source: “We are one of the few funds that truly specialize in investing in high-growth disruptive companies with a health and sustainability focus in the food sector,” InvestEco managing partner Andrew Heintzman told BetaKit in an email. 

Heintzman said InvestEco’s average initial cheques range between $4 million and $5 million. The firm targets CPG food companies, which he said“tend to have high-innovation in terms of unique supply chains and manufacturing.” He added that a minority of the firm’s portfolio companies also have unique intellectual property or are in the AgTech industry.

Following the thread: InvestEco Sustainable Food Fund IV is largely backed by government sources, including federal crown corporations Farm Credit Canada, Export Development Canada, and the Business Development Bank of Canada, as well as QuĂ©bec’s Fonds de solidaritĂ© FTQ. 

InvestEco said the fund also received investment from private investors and family offices. Its two notable private investors, Boann Social Impact and Realize Capital Partners, are both supported by the federal government’s Social Finance Fund; a long-term, $755-million federal initiative launched in mid-2023 to help grow Canada’s social finance market.

Final thought: Despite a focus on CPG, InvestEco has backed tech-forward Canadian firms before, including meal-kit company Chefs Plate (acquired by Hello Fresh) and fish-free omega-3 producer Mara Renewables. InvestEco said it expects to make another six to 10 investments out of Fund IV over the next few years.

Feature image courtesy Mara Renewables. 

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