National Bank to contribute $3 million to Food and AgTech Fund supporting women and underrepresented entrepreneurs

CALGARY, AB, April 28, 2023 /CNW/ - National Bank of Canada (the "Bank") (TSX: NA) will invest $3 million in The51's Food and AgTech Fund (the "Fund"). This contribution is aligned with the Bank's willingness to advance Canada's growing tech sectors, including agricultural technologies.

Highlights

• The51, a national organization headquartered in Alberta, is focused on improving access to capital for women and gender-diverse founders while advancing gender equality through economic empowerment.
• The Fund will invest in early-stage companies at the pre-seed, seed and Series A levels to advance their growth, foster sustainable agricultural development, and strengthen Canada's food chain.
• The Bank's contribution will assist in funding the advancement of agriculture biotechnology, farm innovation, automation and food innovation businesses.

Quotes

"Investing in agricultural technology innovation is critical for Canada's economic growth, food security, and environmental sustainability," says Alison Sunstrum, Managing General Partner of The51 Food and AgTech Fund.

"Our important work with National Bank harnesses the economic opportunity of diversity within the food and AgTech sector and beyond. We want to identify and help build exceptional commercial ventures, which have the potential to positively impact people and the planet," says Shelley Kuipers, Co-Founder, General Partner of The51.

"We are proud to support the rapidly developing food and AgTech sectors, as the Bank continues to grow its presence in Western Canada. This collaboration with The51 is a commitment to further the advancement of investors, founders, and businesses, including underrepresented and diverse groups," says Judith Ménard, Senior Vice President, Commercial Banking and Private Banking at National Bank.

About National Bank of Canada

With $418 billion in assets as at January 31, 2023, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has approximately 30,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

SOURCE National Bank of Canada

Robyn Bell, Public Affairs and Corporate Social Responsibility, National Bank of Canada, [email protected], Tel.: [phone]