Kirchner Assumes Management of Additional Fund
Kirchner Asset Management Inc., the division of Kirchner Group that specializes in the management of high-potential mid-life venture capital and private equity funds through the balance of their terms, has been appointed General Partner of New Acres Capital Ag & Food Limited Partnership (“the New Acres Fund”).
Firm continues to be industry leader in “portfolio optimization”
Birmingham, AL, Montreal, QC and Calgary, AB – 21 November 2019 – Kirchner Asset Management Inc., the division of Kirchner Group that specializes in the management of high-potential mid-life venture capital and private equity funds through the balance of their terms, has been appointed General Partner of New Acres Capital Ag & Food Limited Partnership (“the New Acres Fund”).
The New Acres Fund is a leading agriculture and food focused venture capital fund with over $90 million of invested capital. Its investments are located across Canada and the U.S., ranging from health-oriented challenger brands to advanced production and ingredient developers to innovative farm-centric software companies. Consistent with the broader Kirchner Group platform, the Fund’s companies are addressing the global challenges of nutritional deficiencies, food security, and environmental sustainability.
The Fund’s investors are a group of thought-leading institutions, including Farm Credit Canada, HarbourVest Partners, Business Development Bank of Canada, FondAction and other Canadian institutional investors.
“The New Acres Fund is representative of the role Canadian institutional capital can take in extending the country’s strengths in food and agriculture to the world stage. Kirchner Group’s track record is exceptional and we are pleased to work with the Kirchner team to support the fund’s success,” stated Rebbecca Clarke, Vice-President & Treasurer Farm Credit Canada.
Kirchner Group was selected to manage the Fund in part because of its deep experience in managing funds in transition (13 funds to date representing over 150 companies around the world) and it’s almost 4 decades of experience as an advisor and asset manager in food, agriculture, and technology based investments.
“BDC Capital is pleased to be working with the New Acres Fund in supporting the growth of innovation-focused agri-food companies in Canada. We look forward to working with the experts at Kirchner Group to build the fund’s success and the country’s vibrant agri-food ecosystem which will help strengthen the country’s reputation as an international agri-food leader,” commented Alison Nankivell, Vice President, Fund Investments, BDC Capital.
With this mandate, Kirchner Group further solidifies its reputation as the leading solution provider for investors in venture capital and private equity funds – one of several value creation initiatives developed over the firm’s almost four decades.
“HarbourVest Partners is happy to be working with the New Acres Fund to support companies working to address global challenges related to nutrition, food security, and sustainability. We are excited to again partner with Kirchner Group, with their decades of experience in the food and agriculture sector, and extensive record managing funds in transition,” added Senia Rapisarda, Managing Director, HarbourVest Partners.