Michael Curry


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Michael Curry

  1. 1. Canada’s 1st environmental investment firm.U.S. securities offered through Growth Capital Services, member FINRA, SIPC 582 Market Street, Suite 300, San Francisco, CA 94104
  2. 2. This document is being furnished to you strictly on a confidential basis and does not constitute an offer to sell or a solicitation of an offer to buy the units of any fundincluding Investeco Sustainable Food Fund (International), L.P. or Investeco Sustainable Food Fund, L.P. (in any case, the “Fund”). Each recipient of thispresentation hereby agrees to return it, and any copies of it, promptly upon request, to Investeco Capital Corp. Units of the Fund (“Units”) will only be offered topursuant to the Fund’s Private Placement Memorandum or Offering Memorandum (in either case, the ”PPM”), and only in those jurisdictions where and to thosepersons to whom they may be lawfully offered for sale, and therein only by persons permitted to sell or issue such securities.In making an investment decision, investors must not rely on this presentation, but rather on their own examination of the PPM, including the merits and significantrisk factors involved. Investment in the Fund is suitable only for qualified sophisticated investors and requires the financial ability and willingness to accept the highrisks and lack of liquidity inherent in an investment in the Fund. Investors must be prepared to bear such risks for an extended period of time. No assurance can begiven that the Fund’s investment objectives will be achieved or that investors will receive a return of or on their capital. Prospective investors should not construe thecontents of this presentation as legal, tax, regulatory, investment, financial or accounting advice, and each prospective investor is urged to consult with its ownadvisors with respect to the legal, tax, regulatory, investment, financial, accounting and other consequences of an investment in the Fund.None of the Fund, the general partner of the Fund, or Investeco Capital Corp. is registered as an investment fund manager, investment adviser, or investment dealer inany jurisdiction. Accordingly investors will not receive any of the protections that would be afforded by such registrations.The Units have not been approved or disapproved by the United States Securities and Exchange Commission (the “SEC”) or the Ontario Securities Commission (the“OSC”) or by any state or other jurisdiction, nor has the SEC or OSC or any securities regulating authority passed upon the accuracy or adequacy of the Fund, thePPM, or this presentation. Any representation to the contrary is an offence.Past performance of any investments described herein is not indicative of future returns. This presentation contains “forward-looking information”. Forward-lookinginformation includes, but is not limited to, information with respect to the operations, investment strategy and processes of the Fund as well as the Fund’s ability toidentify and conclude transactions with acquisition targets and complete subsequent liquidity events. Generally, forward-looking information can be identified by theuse of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”,“anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”,“might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that maycause the actual results, level of activity, performance or achievements of the Fund, to be materially different from those expressed or implied by such forward-looking information, including risks associated with the private equity industry such as economic and market conditions, the ability to raise sufficient capital, theability to identify and conclude acquisitions of suitable investment opportunities and complete liquidity events on favorable terms. Implicit in this forward-lookinginformation are assumptions regarding the general economy, market demands, debt financing availability, currency exchange rates, interest rates and opportunities.These assumptions, although considered reasonable by the General Partner based on information currently available to it, may prove to be incorrect. Although theGeneral Partner has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information,there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information willprove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not placeundue reliance on forward-looking information. The General Partner does not undertake to update any forward-looking information, except in accordance withapplicable securities laws. Furthermore the market information contained herein comes from third party sources. Although this information is believed to bereasonable, no representation or warranty is made as to its accuracy in whole or in part.Pursuant to U.S. Treasury Circular 230, we hereby advise investors that: (a) the advice addressed below is not intended or written to be used, and it cannot be used,for the purpose of avoiding penalties that the Internal Revenue Service may attempt to impose on an investor, (b) the advice was written to support the promotion ormarketing of the matter(s) addressed below, and (c) investors should seek advice based on their particular circumstances from an independent tax advisor.Private and Confidential
  3. 3. Private and Confidential Slide NoInvesteco Focused on expansion stage sustainable foodcompanies, and/or companies developingtechnologies that enhance agriculture productivity Building on the manager’s proven success ininvestments in Sustainable Food andAg. Primary focus is to make a financial return fromdeveloping a more sustainable, healthy andresilient Food andAg. Sector GIIRS Pioneer Fund1
  4. 4. Private and Confidential Slide NoManaging PartnersAndrew Heintzman, Co-founder & President (2001)Alex Chamberlain, Managing Partner (2002)Michael Curry, Managing Partner (2002)Partners since inception, with owner-operator approach to investing• Published author on sustainable food & energy• Exec Chair of Rowe Farm Meats Ltd; Director of Horizon Distributors• Involved in climate and green energy policy development, Province of Ontario• Vice-Chair Organic Meadow, Director of Rowe Farm Meats Ltd.• Former founder/CEO successful $20M building materials distribution co.• 7 years in Canadian reforestation industry• Former attorney at a prestigious Toronto-based firm• Former investment banker, PricewaterhouseCoopers Securities• MBA, LLB, CFA, extensive experience in law, corporate finance2
  5. 5. Private and Confidential Slide NoSectoral investment strategyservicescapital + capacity + strategyBioeconomyClean Energy& EnvironmentSustainable Food& AgricultureF U N D I I I( C L E A N T E C H )sectoral strategy in food, agriculture and the bio-economy3
  6. 6. Private and Confidential Slide NoFood Fund LP AdvisorsJalynn Hamilton BennettFormer ChairInvestment CommitteeRoger DickhoutPresidentMartin ConnellFounderDavid SculthorpeCEOMarty ThrasherFormer PresidentIan WalkerPresidentGaetan LussierFormer Deputy Minister Charlie ScottFormer PresidentAbe GomelFormer PresidentActive LPs providedeal flow andtransaction support4
  7. 7. Private and Confidential Slide NoEnvironmental and social benefits Improving health outcomes from: healthier food for consumers, lowerpesticide ingestion, reduced use of antibiotics. Improved environmental profile through better maintenance of soilquality, better use of water and less water pollution from agriculture, lessdamage to ecosystems and other species, less reliance on fossil fuels andother damaging and expensive agricultural inputs, more efficient use ofresources Social benefits include: more resilient food systems that are lessvulnerable to collapse and more able to withstand future challenges suchas peak oil, water scarcity, and climate change.5
  8. 8. Private and Confidential Slide NoWe know food …Value Add: Helped structure company,hire management, establish/chair board,establish commercial relationships6• .
  9. 9. Private and Confidential Slide NoWe know food …Value Add: Reorganized business aroundretail strategy, hired management, built,chaired board, established partnerships7
  10. 10. Private and Confidential Slide NoWe know food …Value Add: Active board seat, consulted onacquisition strategy, chaired compensationcommittee82005 2010Sales 58.8M 101.5MEBITDA 3.2M 6.0MInvested Returned Gross IRR$5.3M 5.8M 3.4%
  11. 11. Private and Confidential Slide NoMacro trends supporting Food FundHealth Est. 40% adults, 20% children suffer from diabetes or obesity in NorthAmerica…a 2-3x generational increase 1 CDC estimates U.S. 2000 direct medical cost of obesity at $61B, andindirect economic loss of $117B…doubling each decade since 19802Environment Globally 5-6M hectares farmland lost annually to human activity, includingaggressive agriculture practices 3 70% of global fresh water is used in agriculture; while 2/3 humans areexpected to live in water-stressed areas by 2025 4Policy Canada % Daily Value campaign; youth nutrition Michelle Obama’s #1 issue1Obesity and the Economics of Prevention OECD 2010:; "Obesity and Overweight: Trends: U.S. 1985–2006". CDC. 2007-07-27.; 2Obesity Costs States Billions in Medical Expenses,CDC, 2004-01-21; 3Farmland Forecast, Colvin & Co June 2009; 4 JWT Intelligence, interview Dan Crossley, principal sustainability advisor, Forum for the Future, Feb201212
  12. 12. Private and Confidential Slide NoNorth American fundamentalsSource: Packaged Facts Natural and Organic Foods and Beverages in theU.S., 3rd Edition, July 20112009-2010 $ Rev GrowthOmega: 42%Anti-oxidant: 29%GMO Free: 27%Gluten Free: 16%Fair Trade: 16%Probiotic: 13%Calcium: 13%High Fiber: 13%Low Glycemic: 12%No Sodium/Salt 10%Organic: 9%Conventional: 0.6%Source: The Nielson Company 2010; SPINS13
  13. 13. Private and Confidential Slide NoProprietary deal flowCurrently tracking >400 opportunities150510152025303540Subsectors# ofCompanies0%20%40%60%Maritimes Quebec Ontario Western Canada USARegional percentageRegional percentage