![]() ![]() “Continued investments by Alberta Enterprise into VC firms with global reach is key to motivating our top innovators to stay here and build their teams in Alberta.”įurther details on the venture capital market in Alberta are expected this week when the Canadian Venture Capital Association releases its latest year-end report. “We have world-class tech businesses growing rapidly in Alberta,” Doug Schweitzer, Minister of Jobs, Economy, and Innovation, said in a news release. Whether you are an individual, a law firm or a corporation, with one or thousands of patents, our foreign filing platform increases efficiency, saves you money and ensures you do not miss any important country filing. Both investments come from the $175 million the provincial government announced for Alberta Enterprise in July 2020 as part of its recovery plan. Let inovia guide you in your journey and remove the administrative burden of filing in multiple languages all over the world. The investment from Alberta Enterprise into Inovia's latest fund follows the additional $5 million the organization invested into Accelerate Fund III in October 2020. Inovia has invested in a number of Edmonton companies in recent years, including Drivewyze, which raised US$60 million in July 2020, Granify, and Mitre Media. "We needed to add a little more capital at the later stage, while still understanding that the majority of companies are earlier-stage, and that's why you'll see our portfolio has a heavier weighting toward funds that focus on Series A and earlier," Williams said. Williams said investing in a later-stage fund is a way to balance AEC's portfolio and meet the growing demand for capital. The series aims to provide capital and resources to promising startups seeking to innovate and grow. "The bench strength that a fund like that can bring to Alberta - you can't put a monetary value on that."Ĭompanies looking for Series B funding and beyond are the focus for the new fund. The Cloud 15m Series by Inovia Capital and SimpsonBetakit is an exciting new opportunity for early-stage tech startups. "Inovia is now considered one of the top funds in North America," Williams said. Williams said AEC, which does not invest in companies directly, is looking to attract and invest in venture capital funds that create access to money, markets, mentorship, and management talent, to help tech companies in Alberta grow. it can help you get that growth for the company much faster," she said. "When you're trying to build a company at that earlier stage, there's a lot of things you need to know, and if you can have an investor on board that can help you navigate some of those pitfalls. Kristina Williams, CEO of Alberta Enterprise Corporation (AEC), told Taproot that the investment will bring more than just money to the province. Inovia Capital, which was co-founded in 2007 by Calgarian Shawn Abbott, has now raised US$450 million for its second growth-stage fund. Alberta Enterprise has announced a US$15 million investment into Inovia Capital Growth Fund II to help technology companies in Alberta scale.
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