Toronto, Canada (October 11, 2016) Vive Crop Protection has announced the closing of growth financing to support 2017 commercial expansion. The financing was led by Radar Capital, a Toronto-based private equity firm, with participation by existing investors, including Dicot Holdings, Middleland Capital, Bioindustrial Innovation Canada, and Ontario Capital Growth Corporation.
“We are pleased to close this financing round led by investors who understand the real, critical need for new, improved crop protection products,” stated Keith Thomas, Vive’s CEO. “Our flagship product, AZteroid, is the first fungicide designed to mix with starter fertilizer for field crop growers. Third-party trials have shown an average yield increase of 8.8 bushels / acre in corn and 2.1 bushels / acre in soybeans, and growers using the product this year have had great results. This capital will help support commercial expansion next year for AZteroid across key US agricultural states.”
Ken Yoon, Vive’s CFO, further stated, “We are also in discussions with several potential investors to bring in additional financing to support a more aggressive growth plan. This would include funding for accelerated field development and additional product launches from our deep pipeline of products.”
According to Mark Lerohl, president of Radar Capital, “There is a real need for delivery systems that improve conventional pesticides. Vive’s Allosperse Delivery System is truly unique, and can help make trusted crop protection products better for growers and better for the environment”. Scott Horner, managing director of Middleland Capital, agrees. “We have been an investor in Vive since 2012 and have been impressed with the progress that they’ve made. In the past 2 years, they’ve moved from pre-commercial development to commercial launch, with excellent grower feedback. We’re excited to support their commercial expansion in 2017 and further development of their pipeline.”
ABOUT VIVE CROP PROTECTION
Vive Crop Protection creates new ways to use trusted products using the targeted Allosperse® delivery system, which improves the targeting and performance of pesticide active ingredients. This helps farmers do more with less, reducing the burden agricultural practices have on the environment, all while increasing crop quality and yields. Vive works with partners across the globe that share its vision of bringing effective crop protection products to growers everywhere.
For more information, see www.vivecrop.com.
Vive media contact:
Darren Anderson, Chief Communications Officer
+1 416-970-1001
media@vivecrop.com
ABOUT RADAR CAPITAL
Radar Capital is a private capital firm that focuses on investing in Canadian pre-IPO companies. The firm meets the needs of companies in search of a partner that can bring them to a successful liquidity event. Radar Capital invests in companies have strong management and have shown strong growth in revenue in the past and significant opportunities before them. The firm specifically targets late-stage, private, non-control investments.
Radar media contact:
Elizabeth Naumovski
+1 416-862-7755
info@radarcapital.ca
ABOUT MIDDLELAND CAPITAL
Middleland Capital is a private investment firm focused on global technology opportunities with a primary focus on food and agriculture investments. Leveraging a unique breadth of geographic and industry experience, the firm seeks long-term partnerships with exceptional management teams to commercialize innovative technologies, accelerate growth and build long-term value around the world. For more information, please visit www.middlelandcap.com.
ABOUT ONTARIO CAPITAL GROWTH CORPORATION
OCGC manages the limited partnership interests of the Province of Ontario in the $205 million Ontario Venture Capital Fund LP (OVCF) and the $300 million Northleaf Venture Catalyst Fund LP (NVCF), and manages and operates the Ontario Emerging Technologies Fund (OETF).