AVAC
Suite 220, 6815 8 St NE, Calgary, AB, T2E 7H7, Canada
Overview
Verdex Capital (formerly AVAC Group) is a purpose-driven evergreen venture capital firm. Our mission is to Advance Canadian Agriculture by investing in venture and community development. We achieve our mission primarily through Carrot Ventures, a venture studio which commercializes AgTech innovations applicable to Canadian agriculture. Verdex is a limited partner in select other venture capital funds. Verdex does not invest directly in existing companies.
- Total investments
- 7
- Lead investments
- 4
- Investments · 12mo
- 3
- Active investors
- 1
Sector focus
- AgTech
- Finance
- Financial Services
- Information and Communications Technology (ICT)
- Venture Capital
Investment portfolio
- Picketa Systems
Participated · Seed · Jun 2026
Picketa Systems develops a portable leaf-evaluated nutrient system (LENS) that uses optical spectroscopy and machine learning to estimate 13 key crop nutrients in minutes, coupled with a Fieldbook software platform to deliver recommendations to growers and agronomists. LENS has been validated against third-party laboratory chemical testing and the company works with institutions including the University of Guelph, University of Missouri, University of Nebraska–Lincoln and Cornell to build its calibration dataset. The technology has been validated on potatoes, corn and canola and is being expanded to soybeans and wheat, with cotton, onions and tomatoes in the pipeline. Picketa’s go-to-market has reached 45 agricultural retailers in North America and users include grower Chris Weaver; the company charges $10,000 (USD) per year for hardware, unlimited sampling, support and Fieldbook access, with 10% of that fee allocated to lab validation. Management says Fieldbook recommendations can help reduce fertilizer costs by up to 20% and enable more granular, region- and variety-specific nutrient guidance. The company plans to scale adoption across more crops and geographies as it commercializes the LENS technology.
- NS/TX Industries
Participated · Series A · Jun 2026
NS/TX Industries (doing business as NEW/SCHOOL FOODS) operates a vertically integrated manufacturing platform built around a proprietary, tuneable scaffolding and texturization technology for meat and seafood analogues. The platform supports production of whole-cut formats (steaks, filets), non whole-cut formats (burgers, strips), and a wide range of species analogues with tuneable texture, flavor delivery systems, and cleaner-label nutrition. The company operates a 28,000 sq. ft. facility in Toronto and launched a V1 commercial assembly line in late 2024, achieving more than a 10x reduction in production costs through extensive trials, equipment upgrades, digital QA, and process breakthroughs. Those developments generated new patents and proprietary equipment designs. NS/TX provides production, R&D, and co-manufacturing services and delivers consumer- and restaurant-facing products via its NEW/SCHOOL FOODS brand. The company has raised over $30 million USD in private and government funding and is now scaling via construction of an automated V2 Assembly Line to increase capacity by over 10x and further lower costs.
- AuX Labs
Participated · Equity · Apr 2026
AuX Labs uses engineered microbial strains and fermentation processes to produce casein that the company says is biologically identical to animal-derived casein. The startup partners with microbreweries to access existing fermenter capacity and currently works with brewers to ensure product quality. AuX plans to commercialize its product and eventually sell kits containing microbes and instructions so breweries can produce casein more independently. CEO and co-founder Ted Jin, formerly of Procter & Gamble, leads the company’s push to scale via distributed fermentation. AuX highlights environmental benefits, estimating roughly 90% lower greenhouse gas emissions and substantially reduced land and water use versus dairy. The broader cheese market is cited at about $165 billion, and AuX says its platform could make additional food proteins in the future.
- Enthrill Distribution
Led · Equity · Aug 2014
Enthrill provides a cloud-based software platform that enables ebooks to be distributed to any electronic reading device, including computers, tablets, smartphones and e-readers. The platform also allows traditional hard-copy retailers to sell ebooks online or via an ebook gift card. Its content roster includes publishers such as HarperCollins, Harlequin, Open Road Media, Scholastic, Kensington and Palgrave Macmillan. Enthrill’s ebooks are available at participating Canada Safeway, Co-op and Sobeys stores and were planned to be available in Walmart Canada stores in fall 2014. The company is led by President and Co‑Founder Kevin Franco. It secured financing of over $1.3M and intends to use the funds for product development and to expand sales and marketing for global distribution.
- iConnectivity
Led · Equity · Aug 2012
iConnectivity designs and markets portable networking products that allow musicians to connect electronic musical equipment to mobile devices and computers using standards-based connections such as USB, MIDI and Ethernet. The company is led by founder and CEO Michael Loh. Its first product, iConnectMIDI™, is currently distributed in North America, Europe, the UK, Australia and Asia and is available through retailers and resellers in the United States and Canada. iConnectivity is based in Calgary, Alberta, Canada. The company raised $1.6M in funding to accelerate development and launch additional products and to expand distribution channels. Backers mentioned include AVAC and local investors.
Team
Collin Phillip, MBA, ICD.D
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