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CN Invest is an investment company based in Norrbotten, Sweden, established by Coop Norrbotten, a member-owned food retail chain. Founded to address the declining food self-sufficiency in the region, CN Invest focuses on promoting sustainability and self-sufficiency through strategic investments in the local food sector. The organization aims to empower entrepreneurs by transforming ambitious ideas into successful operations.
Currently, CN Invest operates as an independent subsidiary of Coop Norrbotten, with a target fund size of up to SEK 100 million (approximately $9-10 million USD). The firm is dedicated to supporting the local food industry, investing in companies across the entire food supply chain, including farmers, butchers, dairies, bakers, logistics coordinators, and app developers. Their investment strategy emphasizes long-term growth and knowledge transfer, ensuring that management teams maintain operational independence.
As of now, CN Invest has identified multiple investment opportunities within the local food ecosystem, with their first investment expected in 2024. The firm is backed by Coop Norrbotten's institutional resources and food retail expertise, positioning it uniquely within the investment landscape.
CN Invest provides capital and expertise to support the local food industry in Norrbotten, focusing on sustainability and self-sufficiency. The firm invests in various sectors, including food-agtech, agtech, and healthcare, with a specific emphasis on companies involved in the food supply chain. Their investment stages range from Seed to Series A, with check sizes between $100,000 and $5 million.
The organization operates as a minority investor, holding a maximum of 49% ownership in the companies they support. This structure allows CN Invest to maintain a focus on long-term growth while ensuring that entrepreneurs retain operational control. Their investment philosophy is centered on providing 'competent capital,' which combines financial resources with operational expertise to help local food companies thrive.
CN Invest seeks to partner with local food producers requiring capital for expansion and growth. Their investment strategy is designed to remove financial barriers for these producers, enabling them to grow without sacrificing their entrepreneurial vision. The firm’s geographic focus is strictly on Norrbotten County, Northern Sweden, aligning with their mission to enhance regional food security and sustainability.
CN Invest's notable portfolio company is Noah – Lokal Mat, a collective of local producers in Norrbotten that markets and sells their products under the Noah brand. This initiative aims to meet the increasing demand for local food and strengthen market presence by raising capital for expansion in Norrbotten and Västerbotten, with future plans for national expansion. CN Invest supports Noah in developing its concept and creating new opportunities for local food producers.
As of now, CN Invest has confirmed its first investment in Noah, with additional opportunities identified across the local food ecosystem. The firm’s focus on the entire food supply chain positions it to support various types of food-related businesses, from primary production to logistics and technology.
Mats Rönnqvist serves as the CEO of CN Invest. He has a background in regional food production and actively participates in panels discussing food sustainability. His leadership is pivotal in guiding CN Invest's mission to support local food producers in Norrbotten.
To pitch CN Invest, founders should reach out via email at mats.ronnqvist@coopnorrbotten.se. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and financial projections. CN Invest prefers detailed information about how the investment will be utilized to support growth.
Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory. The firm is particularly interested in startups that demonstrate a commitment to sustainability and innovation within the food sector.
As of late 2023, CN Invest announced its intention to deploy up to SEK 100 million into local food producers over time. The firm is preparing for its first investment, anticipated in 2024, focusing on enhancing regional food security and sustainability.
CN Invest's establishment aligns with Coop Norrbotten's broader strategy to address declining food self-sufficiency in the region, which has seen a significant drop over the past two decades. The firm aims to reverse this trend by backing local food producers across the supply chain.
What are CN Invest's investment criteria?
CN Invest focuses on investing in local food companies within Norrbotten, specifically those involved in the food supply chain. They look for businesses that require capital for expansion and growth, emphasizing sustainability and self-sufficiency.
How can I pitch to CN Invest?
Founders can pitch to CN Invest by reaching out via email at mats.ronnqvist@coopnorrbotten.se. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes CN Invest different from traditional VCs?
CN Invest operates as a corporate investment arm focused exclusively on the regional food sector. Unlike traditional VCs, they aim to support local food producers with a long-term investment approach, maintaining a maximum of 49% ownership to ensure operational independence.
What is the typical check size for investments?
CN Invest typically invests between $100,000 and $5 million in each company, depending on the specific needs and growth potential of the business.
What is the expected timeline for investment?
CN Invest anticipates making its first investment in 2024, with a planned investment model that includes a 7-8 year hold period for each investment to ensure long-term growth and stability.
What kind of support does CN Invest provide post-investment?
CN Invest adds value beyond capital by providing expertise in the food sector, helping management teams grow their businesses while maintaining their operational independence.
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