Atlantic Canada has attracted only 2–3% of the country's venture capital investment.
The Atlantic Canada region now has a new long-term investment platform dedicated to supporting the growth of high-potential companies in sectors such as aquaculture, marine technology, fisheries, and ocean innovation.
AtlantiCan Growth Partners (AGP) works with founders, business leaders, and ecosystem stakeholders in sectors rooted in the blue economy, with plans to expand into additional industries over time.
Over the past five years, Atlantic Canada has attracted only 2–3% of the country's venture capital investment, while Ontario and Quebec have accounted for the vast majority of funding.
AGP has been established to help close this funding gap, with a long-term vision of launching three dedicated investment funds, starting with a US$100–150 million fund.
"What we see now is an opportunity to build on that foundation by increasing the availability of growth capital for companies ready to scale. AGP provides the capital, expertise, and hands-on support needed to help create the next generation of leading companies in Atlantic Canada," said Alex McCallum, President and CEO of AtlantiCan Growth Partners.
The Executive Chairman is Telfer Hanson, who has drawn on more than three decades of international experience in finance and investment banking to create this initiative.
"AGP is the realization of a long-term goal: to close the region's funding gap. We are providing the growth capital, strategic governance, and hands-on support that our entrepreneurs need to create sustainable regional value," he said.
The Board of Directors is made up of leaders with deep regional roots and strong national connections in capital markets, governance, entrepreneurship, and ocean innovation.
They include Kendra MacDonald, Karl Van Waldow, Houston Barnaby, Ed Barrett of Barrett Corporation in New Brunswick, and Kyle Tomlin of Imperium Blue.
"AGP has been created to support this next stage of growth, starting with the blue economy, where the region has both a strong track record and significant global opportunity," concluded Kendra MacDonald.