Alberta’s venture capital industry gets a boost
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Alberta’s Venture Capital Gets Millions of Dollars in Investment

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A $31.2-million investment from the Alberta Enterprise Corporation (AEC) will help Alberta technology and health innovation companies grow. 

 

Investing in venture capital funds means that Alberta’s early-stage tech startups and entrepreneurs will have access to the funding they need to help with the operational and administrative costs of growing their business.

As Alberta’s technology and innovation sector continues to grow in size and reputation, this investment by AEC into three venture capital funds – Builders VC Fund II, Yaletown Partners’ Innovation Growth Fund II and Amplitude Venture Capital – will ensure the sector plays a strong role in a diversified economy.

Alberta Enterprise Corporation

AEC grows Alberta’s venture capital industry by investing in venture capital funds that finance early-stage technology companies. The corporation focuses on funds that have a strong commitment to Alberta – including a presence in the province. In addition to capital, AEC supports Alberta’s venture capital ecosystem by connecting investors, entrepreneurs and experienced technology executives who share a passion for building a bright and innovative Alberta.

Since its launch in 2008, AEC has provided $256 million in investment to 24 venture capital funds across the province. By investing strategically, AEC has leveraged these capital commitments to create access to more than $3 billion in capital for Alberta knowledge-based companies.

Builders VC

Builders VC is an early-stage venture capital firm focused on investing where technology meets new business models to modernize antiquated industries, including health care, agriculture, industrials and real estate. Its thesis involves applying technology and new business models to sectors where the percentage of IT spending versus revenue is minimal. In these sectors, there exists a significant gap between what is technically possible versus what is presently implemented.

Builders Fund II has recently invested in QuoteToMe, an Edmonton company digitizing the procurement and financial processes of the construction industry. Builders VC has previously invested in Veerum, Provision Analytics and Ambyint, three other Alberta-based companies.

Yaletown Partners

Yaletown Partners is a leading Canadian venture capital fund manager that invests in the technologies digitally transforming traditional industries by prioritizing climate-resilient growth.

In 2017, Yaletown received the CVCA’s Venture Capital Deal of the Year award for its investment in BitStew, Canada’s largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Toronto and Montreal.

Past Yaletown Partners’ investments have supported the success of Alberta companies such as Circle Cardiovascular Imaging, Showbie and Chaordix.

Amplitude

Amplitude is a full-stack venture capital firm using a unique growth model to build Canadian companies with world-class management teams and scale companies to breakout potential. With more than $300 million under management and offices in Montreal, Toronto and Vancouver, Amplitude applies a proven, evidence-based approach to investing in leading precision medicine companies.

Examples of Alberta-grown startups that have seen success following investments from other funds managed by Amplitude include Cytovax Technologies and Sembiosys Genetics. Amplitude also recently announced a partnership with AltaML, a leading artificial intelligence (AI) company based in Edmonton, to leverage AI and machine learning in the biotechnology sector and identify investment opportunities, primarily in Alberta, and projects where the two companies can work together to create, build and grow a talent base.

Quick facts

  • Alberta’s government has invested a total of $350 million in the AEC since 2008.
  • For every $1 Alberta Enterprise Corporation invests, more than $4.50 is invested back into Alberta companies.
  • As of September 2021, Alberta had already surpassed 2020’s record year for venture capital investment by 5.5 per cent for dollars invested and 20 per cent for deals.
  • Alberta ranks as Canada’s fourth-largest tech hub for invested dollars and deal volume, according to the Canadian Venture Capital Association Venture Capital Canadian Market Overview for Q3 2021, published in September 2021.
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