Praveen K. Varshney, FCPA, FCA

The Appendix to your Investor Deck is one of the most powerful tools that you have in your fund raising tool kit! Use it wisely! The main purpose of Appendix slides is to further clarify a point that may come-up in Q&A, and to cover other Frequently Asked Questions (FAQs). The foundation of a great set of Appendix slides is a solid FAQ. A FAQ is a living, breathing document that is always being added-to and refined. If you have a question that you expect that can be supported by a specific slide with data or a graphic, this is a great Appendix slide. Being prepared to answer questions before they are asked is a powerful way to demonstrate competency. If you don’t get questions during or after your presentation, you have failed. Of course you want to cover all the big questions on the big topics in the presentation deck, but there will always be other questions. Some will be clarifying questions, some will be to gage your coachability, and some will be genuine ‘objections’. Many are a combination To develop my first FAQ, I present to a group of ‘friendlies’. These are people who I know, who are knowledgeable about the topics that I’m presenting, may have experience with the audience I’m addressing, and will ask me tough questions. Once I get a list of FAQs, I write my answers and work to refine, shorten, and clarify those answers. Then I work to embed those into my brain. If something becomes a major recurring question when presenting to investors, you should at least have an Appendix slide for it, and it may even deserve a slide or at least a mention in the main presentation deck. As a startup mentor, I frequently see slides in the main presentation deck that will force the presenter to go way too long, and they are too detailed for the general audience. Many of these slides can be great for the Appendix to answer specific question of do more of a 'deep dive'. Sometimes you may get a question and not know the answer. Don't make up an answer. Let the audience know that you don't have the answer, but will get it, and will follow-up promptly. Then follow-up promptly. What have been the most powerful appendix slides that you have used to WOW investors and to gain trust and credibility? #startups #founder #funding #strategy

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Here's the thing about fresh produce in Alberta. We're paying $8 for strawberries in February that taste like cardboard and traveled 3,000+ km to get to your plate. That's broken. At Alberta Food Security Inc. we can grow 150+ varieties of fruits, vegetables, and herbs locally. Year-round. Backed by AI systems. With technology that cuts electricity costs dramatically. The math is simple: Local = fresher Efficient growing = lower costs Lower costs = wholesale prices, not premium retail markups. That's the problem we're solving. What's the one fruit, vegetable, or herb you've completely stopped buying because it's either too expensive or tastes like garbage every time? #Edmonton #Food #Business #Tech #AI

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White Star Capital wants to lead Canadian seed rounds with new US$50 million fund. White Star Capital has launched a new seed fund to fill what it sees as a key gap in Canada’s venture capital (VC) market.​The global, multi-stage VC firm has secured a first close of US$25 million for its North American Seed Fund, with a $50 million USD target. With this, it aims to lead pre-seed and seed financings for tech startups across Canada and the United States (US).​Recent data from the Canadian Venture Capital And Private Equity Association indicates that there has been a steep decline in pre-seed and seed investment activity in Canada. While the latest results from Québec are slightly stronger in this respect, some industry leaders have been sounding the alarm in light of poor fundraising figures for startups and VCs, declining entrepreneurship, and performance anxiety.​https://lnkd.in/grJusP6J Jaiya Varshney Aneesh Varshney

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Cellar Insights Raises Oversubscribed Seed Round to Transform Potato Storage Calgary-based AgTech startup Cellar Insights has successfully closed an oversubscribed seed round, co-led by Tall Grass Ventures and Accelerate Fund IV, with backing from Carrot Ventures, UCeed, and others. Leveraging AI-powered sensors to detect gases from decomposing potatoes, the company helps prevent spoilage and reduce storage losses. Monitoring over 150 million pounds of potatoes across North America, Cellar Insights plans to use the funding to enhance predictive AI models, expand across Canada and the U.S., and establish a new facility in Manitoba. 📩 Weekly Agri Dose Newsletter https://lnkd.in/gY-UkQyE #AgTech #AI #FoodTech #Innovation #SeedFunding #PotatoFarming #SupplyChain

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Maia Farms is not a brand that shows up quietly. It grows where pressure lives. Vancouver based, founded in 2021, this #foodtechnology company came out of a question most founders avoid. How do you feed more people without burning the system down. The answer did not come from a lab fantasy or a pitch deck miracle. It came from mushrooms, mycelium, and a refusal to accept that protein has to be slow, expensive, or destructive to matter. Maia Farms closed a C$3.75M oversubscribed seed round. The round was led by Active Impact Investments, Canada’s largest climate tech seed fund, with participation from NYA Ventures, Ag-West Bio, PIC Investment Group, and Deep Checks . Two new board members joined with the capital. Mike Winterfield of Active Impact Investments and Yuan Shi of Nya Ventures. Capital with pattern recognition. Governance with a point of view. CEO Gavin Schneider did not wander into this problem. Three decades in controlled environment #agriculture will sharpen your sense for what scales and what collapses. Alongside COO Ashton Ostrander and Chief Innovation Officer Dr. Sean Lacoursiere, the founding team built Maia Farms as a B#2B ingredient company, not a consumer distraction. Their platform uses #biomass fermentation and advanced #bioreactors to turn #agriculturalbyproducts into mushroom and mycelium ingredients that work in real factories, at real margins. The proof is already on shelves. 20+ products launched in the past year alone, spanning #soups, #chilis, #curries, #chorizo, #burrito bowls, #spice blends, and c#ookies. Current capacity supports up to 200,000 kg annually through co-manufacturing across North America, with expansion underway to reduce lead times and transportation costs. A plated four ounce serving comes in below the cost of #beef and #chicken mince, which tends to quiet skeptics quickly. The tech holds. Maia Form delivers shelf-stable textured protein via dry extrusion. Maia Fresh produces high-moisture oyster mushroom mycelium through liquid-state fermentation with up to 15× higher yields than other mycoprotein systems. Seven days from growth to harvest. Clean label. Certified organic, vegan, kosher, and halal. A #PDCAAS of 0.92, 66g protein per 100g, and 84% lower carbon emissions than chicken. This didn’t start on Earth alone. Maia’s commercial spine traces back to the Deep Space Food Challenge, where its CANGrow system won Canada’s grand prize by producing 700+ kg of food annually from a unit the size of a wardrobe. Space demanded discipline. Earth benefits. Food doesn’t need another argument. It needs execution. Maia Farms is growing where others stall, feeding demand with biology tuned for timing, cost, and taste. The mycelium is already moving. The only question left is who decides to grow with it. #Startups #StartupFunding #EarlyStage #VentureCapital #SeedRound #Food #FoodTech #Biotech #ClimateTech #Sustainability #Technology #Innovation #TechEcosystem #StartupEcosystem #DCTalks

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Brilliant Harvest Inc. Secures $500,000 Investment from SVG Ventures Brilliant Harvest, an Alberta-based agtech startup, has secured a $500,000 investment from SVG Ventures. The funding comes through the firm’s Pioneer Fund, which targets early-stage companies with strong potential to scale innovations across the agricultural value chain. The company, which is focused on AI-powered solutions for improving agricultural productivity and sustainability, was selected as part of the THRIVE IV Accelerator program. John Hartnett, CEO and Founder of SVG Ventures, commented on the decision: “Brilliant Harvest represents exactly the kind of bold innovation we seek out at SVG Ventures. They are solving real problems in agriculture with scalable AI-driven solutions, and this investment reflects our deep belief in both the team and the broader potential of the Canadian agtech sector.” Article in the first comment 👇 Follow iGrow Smart Farming News for more!

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Venture capital firm Maple Bridge Ventures has closed $10.2 million CAD in the first round of its debut fund dedicated to supporting immigrant-led, early-stage technology startups in Canada. 𝗥𝗘𝗔𝗗 𝗧𝗛𝗘 𝗗𝗘𝗧𝗔𝗜𝗟𝗦 👉 https://lnkd.in/d7F6dgef Matthew Sefati Eric Agyemang, MBA Shelley Li, MBA, CBCA Sajad Madahi Bibek Budhathoki #Startups #VentureCapital #PrivateEquity #Founders #FundingNews #AgTech #FoodTech #HealthTech

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Aspire Food Group Ltd. et al., a group of London, Ontario-based food manufacturing companies, were placed into receivership on May 6 on application by Farm Credit Canada (“FCC”), owed $41.5 million. Aspire operates a cricket-based protein production facility in London, Ontario which has faced major operational and scalability problems, preventing it from achieving commercial viability. Despite early success at its Texas R&D facility, Aspire’s Ontario facility has remained at or below 50% production capacity since May 2024. The group has failed to generate positive earnings and has required repeated injections of working capital. Although FCC provided multiple accommodations, including payment deferrals and emergency liquidity support, Aspire defaulted on the credit agreement by failing to maintain a required $1 million cash balance. In addition, Aspire owes over $1 million in unpaid property taxes, equity injections from the group’s founders have ceased, and government grants on which the group relied are no longer available. FTI is the receiver. Counsel is Gowling WLG for FCC, Stikeman Elliott for the receiver, and Osler for Aspire.

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The easiest policy win in #Ottawa might just be hiding in plain sight Fixing the #cannabis #excise stamp is a simple, tangible step toward reducing interprovincial trade barriers, writes Orville Bovenschen from Pure Sunfarms and Village Farms International Inc. #canadapolitics #cannabispolicy https://lnkd.in/gRx-TFA8

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☀️ Essential Summer Reading for Cannabis Operators 📚 Whether you're launching a new venture or optimizing your current operation, Catalyst BC’s free eBook series delivers the strategic insights you need to grow smarter this summer. Inside, you’ll find expert guidance on: ✅ Facility Design & Buildout ✅ Cultivation & Manufacturing Best Practices ✅ Compliance & Licensing Strategy ✅ Operational Optimization for Long-Term Success No fluff. Just proven strategies from cannabis consultants who’ve helped operators across North America succeed in regulated markets. 📘 Download your complimentary copies today and stay ahead of the curve: 👉 https://zurl.co/UGOGR #CannabisConsulting #CannabisBusiness #CannabisLicensing #CannabisOperations #FacilityDesign #CannabisCultivation #CatalystBC #FreeEbook #CannabisIndustry #ComplianceMatters

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"Canada's Hemp Pivot: A Prosperous Future," outlines a national plan to transform Canadian agriculture by shifting at least 13 million acres of farmland from conventional wheat to a multipurpose industrial hemp variety like CFX-2. The report argues that this pivot will create a resilient, decentralized, and carbon-negative domestic bio-economy, leading to Canadian self-sufficiency, widespread domestic prosperity, and global leadership in the green economy. The plan is built on four pillars: Regenerative Agronomics: Hemp cultivation eliminates the need for chemical inputs like glyphosate, reduces water usage significantly (300-500 L/kg vs. 500-1,000 L/kg for wheat), and actively improves soil structure and health through its deep taproot system. Technological Automation: The transition will be supported by advanced robotics and electrification. FarmDroid FD20 robots will handle seeding and weeding with high precision, reducing seed costs by nearly 90%. Electric tractors, like the New Holland T4 Electric Power, will replace diesel models, reducing lifecycle greenhouse gas emissions by an estimated 98.6% and stabilizing energy costs. Cooperative Economic Model: The current market structure, dominated by foreign-influenced corporations, extracts wealth from Canadian farmers. The proposed model involves farmer-owned cooperative hubs that will jointly own and operate regional processing facilities. This allows farmers to capture higher profit margins by processing raw hemp into high-value finished goods, retaining wealth within Canada. Whole-Plant Utilization: The CFX-2 hemp variety provides five value streams: Food Security and Wellness: Hemp grain yields hemp hearts, oil, and protein cake, providing domestic sources of plant-based protein and healthy fats. Sustainable Materials: Hemp stalk produces long bast fiber for bioplastics and textiles, serving as a sustainable alternative to cotton and fossil-fuel-based plastics. Carbon-Negative Construction: Hemp hurd, comprising 75% of the stalk, is the key ingredient for hempcrete and hemp boards, which are carbon-negative building materials suitable for the national housing strategy. Projected Value: The report projects an annual output of 19.5 billion pounds of hemp grain and 26 million tons of hemp stalk, with a total projected wholesale value of $128.63 billion. Carbon Sequestration: The cultivation of 13 million acres of hemp is projected to directly sequester 52 million tonnes of CO2 annually. Additionally, permanent carbon storage occurs when hemp is used in building materials like hempcrete and hemp boards, which are carbon-negative over their lifecycle. The system also leads to significant avoided emissions by displacing fossil fuels, energy-intensive materials, and chemically-dependent crops. The document concludes that this strategic pivot will lead to a prosperous Canada with empowered farmers, revitalized rural communities, and a secure nation capable of mitigating global warming.

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There are too few investors and not enough capital allocated to the Agrifood space in Canada and anyone in the sector knows it. As a VC focused on earlier stage food and beverage, health and wellness companies, we see the growth capital gap every day. If you’re asking yourself why supporting agrifood matters heres a couple things to ponder. First, food security isn’t a talking point. It’s the basis of sovereignty. Our ability to feed ourselves is the first line of defence for any country that wants real independence. We all need to eat every day. Second, this is our largest manufacturing sector. Jobs, livelihoods and innovation in good food happen here. Our food quality is some of the best in the world. When we eat healthier food we are a healthier, stronger nation. I also want to recognize the critical role FCC / FAC play in supporting and investing in Canadian agriculture and Agrifood. Justine Hendricks and her team have been tireless advocates for the sector and for the entrepreneurs trying to build within it. Anyone who has worked in Agrifood knows how complex it is. Success depends on farmers, ingredient suppliers, processors, brokers, distributors, regulators, retailers and consumer acceptance all working together. It’s not simple and it’s not for the faint of heart. At District Ventures Capital we see these interdependencies up close. We see the grit and the risk these entrepreneurs take. We value the support that comes from every crown corporation helping these entrepreneurs grow. The sector needs significantly more investment and more champions. That’s just a fact. So please keep buying Canadian food. Invest in Canadian agrifood entrepreneurs if you can. Recognize the people and institutions that are helping build these businesses. We are so quick to complain in this country and not quick enough to acknowledge when real progress is being made. ❤️🇨🇦

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Hemp will outgrow the THC business! Trust me on this.....unless it gets outlawed by big Cannabis. The hemp industry in Canada is currently outpacing THC dispensaries in terms of growth rate but not total market size. Hemp is being driven by broader industrial applications, regulatory advantages, and surging demand for sustainable products, especially in food, wellness, and manufacturing. Growth Rate Comparison The Canadian industrial hemp market was valued at $270 million in 2023 and is forecasted to reach $1.5 billion by 2032, with a compound annual growth rate (CAGR) of 20.9%. Canada’s legal cannabis (THC-focused) market, including dispensaries, is valued at $3.25–$3.6 billion in 2024 and is expected to reach $5.79–$7.19 billion by 2030, with a CAGR of 12%. Thus, hemp is growing nearly twice as fast as the THC market, mainly due to expanding uses and less restrictive regulations. Why Hemp Is Outgrowing THC Dispensaries Non-psychoactive, less regulated: Hemp can be used in a wide variety of sectors (foods, textiles, construction), and its non-psychoactive status means fewer regulatory constraints than THC cannabis. Export demand: Over 90% of hemp exports go to the US, boosting Canadian cultivation and revenues. Sustainability trend: Growing interest in sustainable goods—hemp derived products are used for plant-based proteins, eco-friendly materials, and wellness supplements. CBD boom: Much hemp acreage now produces CBD for use in medical and wellness products, unlike THC dispensaries restricted by age, retail licensing, and advertising rules. THC Dispensaries: Still Larger, but Slower Growth The THC market is expanding as legal access and product innovation increase, but growth is dampened by licensing bottlenecks, strict marketing rules, and the slower rollout of retail infrastructure. THC dispensaries sell mainly to Canadian consumers, while hemp enjoys international markets and less complex sales channels. Conclusion While hemp’s growth rate far exceeds that of THC dispensaries in Canada, overall dispensary sales and revenue remain larger—for now. Over the next decade, hemp’s faster expansion and broad market reach may see its industry rival or surpass the traditional THC retail sector, especially as new uses and global demand surge.

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PhenoTips announced $2M seed extension round led by GreenSky Ventures Accelerator Fund VI, with participation from Ontario Centre of Innovation (OCI) and others. https://lnkd.in/g2CZEQRN

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GoodLeaf Farms, which began life as Halifax-based TruLeaf, has raised $52M to expand its vertical farming operations in Alberta and Quebec and establish a new R&D centre in Ontario. https://shorturl.at/Xlbxv

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We are very excited to announce our next portfolio company, Freshr Technologies. Freshr’s naturally derived active packaging technology significantly extends the shelf life of high-value proteins, ensuring safer, fresher food while reducing waste at every stage of the supply chain. Investing with such partners as Diamond Edge Ventures, Inc., Invest Nova Scotia, BDC Capital (Canada) and Blue Tide Capital brings an amazing team to support the growth of Mina Mekhail, Ph.D.'s company. #startups, #foodtech, #climatetech, #sustianableinnovations, #solvingfoodwaste Mary Dimou. FCC / FAC, Natural Products Canada

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Canadian Cannabis: A Tale of Two Cities I missed the early years. But from everything I’ve gathered, it was the best of times, and it was the worst of times. Capital flooded in. “Funded capacity” ruled all. Canada led the world in cannabis reform, and the industry raced to meet the moment. A gold rush ensued which fed a stock market bubble where billions of dollars were raised. The hangover from this spectacular orgy continues to plague the entire industry today, but in my view, understanding how and why is very important in assessing the future prospects of all the various industry participants. Licenses were secured, money was raised, and sprawling million‑square‑foot greenhouses were built by companies that had never grown cannabis before. An investor in the early days told me he heard all the dog-and-pony shows, and they were essentially indistinguishable from each other. “Funded capacity” became the metric of ambition — not revenue, not margins, not free cash flow, not product quality, but how much theoretical product a company might one day be able to produce, if everything went perfectly. It did not. Most of those early harvests weren’t just subpar — they were bad. New facilities, untested genetics, inexperienced teams, and massive scale created an almost instant supply glut of low‑quality flower that flooded the shelves at premium prices. Customers walked into stores excited about legalization, paid $80 for an eighth and left with product that didn’t come close to matching expectations. The damage was immediate. Trust was broken, and the inventory overhang lingered for years. The aftermath played out slowly. Prices began to fall and they kept falling for years. The fixed $1/gram excise tax became a higher and higher percentage of gross revenues. Some companies consistently posted negative gross margins. Consolidations, write‑downs, and restructurings became common. Facilities were mothballed, repurposed, or dismantled entirely. The excess that once defined the sector gave way to a long, uneven, seemingly never-ending contraction. Much of the capacity built during the “funded capacity” era, mostly sub-par anyway, was eventually taken offline — shuttered, sold off, or left idle. Approximately 30% of CCAA filings in 2023 and 2024 were cannabis companies. This was the landscape as I happened upon Canadian cannabis in mid‑2023. I had a very rough idea of what had happened but quite limited information, overall. CONTINUED IN COMMENTS... Auxly Avicanna Inc. (TSX:AVCN) Decibel Cannabis Company Rubicon Organics™ High Tide Inc. Cannara Biotech Inc. Nextleaf Solutions (CSE:OILS) (OTCQB:OILFF)

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