NBIF Invests in Breviro Caviar

The New Brunswick Innovation Foundation (NBIF) today announced a venture capital investment of $500,000 in Breviro Caviar Inc (http://www.breviro.com) . Based in Pennfield, New Brunswick, the company produces, markets and distributes one of the world’s rarest and most sought-after caviar varieties, from the Shortnose sturgeon (Acipenser Brevirostrum).

“Breviro first came to our attention after winning our R3 Innovation Challenge earlier this year, where businesses competed for $50,000 in R&D services at a New Brunswick post-secondary institution,” says NBIF Chair Bob Hatheway, “after examining the innovation and growth potential of the company, we decided to invest.”Breviro is the only company in the world to hold the necessary license under the Convention on International Trade in Endangered Species (CITES) to farm and sell roe from the Shortnose sturgeon. The rare colour, taste and quality of the caviar is increasing demand from luxury food distributors, luxury cruise, hotel and restaurant operators. The retail price of Breviro caviar can reach as high as $4,500 per kilogram.“This investment by NBIF will help the company to refine and expand our sustainable, on-land solution for farming the fish and harvesting the roe,” says Jonathan Barry, CEO of Breviro, “their investment, plus another $2.0M in equity capital we raised, provides us with the funds we need to turn our company and this unique sturgeon indigenous to the Saint John River into a global brand.”Historically, the main producers of caviar were the four countries bordering the Caspian Sea. Today there is essentially no legal wild fishery for Caspian Sea sturgeon, which has been banned by the U.S., the E.U. and many other countries. With the solitary CITES license to breed and sell Shortnose sturgeon caviar, Breviro stands to start a new history for the coveted delicacy—from New Brunswick, Canada.

The New Brunswick Innovation Foundation (NBIF) today announced a venture capital investment of $500,000 in Breviro Caviar Inc (http://www.breviro.com) . Based in Pennfield, New Brunswick, the company produces, markets and distributes one of the world’s rarest and most sought-after caviar varieties, from the Shortnose sturgeon (Acipenser Brevirostrum).

“Breviro first came to our attention after winning our R3 Innovation Challenge earlier this year, where businesses competed for $50,000 in R&D services at a New Brunswick post-secondary institution,” says NBIF Chair Bob Hatheway, “after examining the innovation and growth potential of the company, we decided to invest.”

Breviro is the only company in the world to hold the necessary license under the Convention on International Trade in Endangered Species (CITES) to farm and sell roe from the Shortnose sturgeon. The rare colour, taste and quality of the caviar is increasing demand from luxury food distributors, luxury cruise, hotel and restaurant operators. The retail price of Breviro caviar can reach as high as $4,500 per kilogram.

“This investment by NBIF will help the company to refine and expand our sustainable, on-land solution for farming the fish and harvesting the roe,” says Jonathan Barry, CEO of Breviro, “their investment, plus another $2.0M in equity capital we raised, provides us with the funds we need to turn our company and this unique sturgeon indigenous to the Saint John River into a global brand.”

Historically, the main producers of caviar were the four countries bordering the Caspian Sea. Today there is essentially no legal wild fishery for Caspian Sea sturgeon, which has been banned by the U.S., the E.U. and many other countries. With the solitary CITES license to breed and sell Shortnose sturgeon caviar, Breviro stands to start a new history for the coveted delicacy—from New Brunswick, Canada.