Alberta Enterprise Corporation (AEC) has played a significant role in the final close of Vancouver-based Pender Ventures’ second venture fund, Technology Inflection Fund II LP, which has secured over $100 million to support Canadian technology growth.
As a major investor in the fund, AEC is amplifying its commitment to advancing Alberta’s tech sector, particularly in health tech and B2B. AEC’s involvement is poised to bolster Alberta’s growing innovation ecosystem, which has seen a rise in cutting-edge startups supported by a strong network of investors, institutions, and local champions.
The partnership with Pender Ventures aligns with Alberta’s strategic focus on economic growth through technology, where health tech represents a cornerstone for sustainable success.
AEC CEO Kristina Williams underscored Alberta’s focus on health and life sciences, sectors that comprise two-thirds of Alberta’s startups and complement Pender’s investment goals. “Maria Pacella leads an accomplished team that can help Alberta’s startups gain a market advantage as they work to revolutionize business and healthcare,” Williams stated.
Maria Pacella, Managing Partner at Pender Ventures, welcomed AEC’s support, noting the alignment in their mission to scale Canadian tech companies and foster global innovation. “AEC’s investment strengthens our shared vision of advancing Canada’s tech ecosystem and empowering entrepreneurs to make a meaningful impact,” Pacella remarked.
The fund’s close also follows recent backing from the Government of Canada’s Venture Capital Catalyst Initiative (VCCI) and contributions from Canadian investors, including Export Development Bank, InBC, Bank of Montreal, BDC Capital, and Co-Operators, among others.
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