Venture Communications CEO and former Dragons’ Den star Arlene Dickinson has raised $26 million for her first venture fund, according to a report from The Globe and Mail.
The fund was led by George Weston Ltd., Alberta’s ATB Financial, Canada Goose CEO Dani Reiss, the F. Saputo Family Office, Retail Ready Foods Inc., and several wealthy families in Southern Ontario. Dickinson hopes to hit $30 million before the fund closes in a few weeks, and will invest in food and beverage, beauty, and health and wellness categories.
“Many of my fund’s limited partners are very successful Canadian entrepreneurs who quickly understood the opportunity which, in turn, helped me a great deal in the fundraising experience. They know consumers and retail and I believe they bring unparalleled expertise and experience to bear to the companies and entrepreneurs we invest in,” Dickinson told the Globe.
The fund, called District Ventures CPG-1 LP, will focus on backing startups with products with distribution and a few million dollars in annual sales that are looking to raise up to $4 million in growth capital.