Alberta Enterprise Corporation (AEC) has announced the launch of its fourth early-stage angel co-investment fund, Accelerate Fund IV, with a $15 million anchor investment.
The launch marks the first close of Accelerate Fund IV, which aims to raise a total of $25 million from institutional investors, family offices, high-net-worth individuals, and other strategic players to back pre-seed and seed-stage Alberta technology startups.
This fund builds on the decade-long success of the Accelerate Fund program, providing critical capital to Alberta-based technology entrepreneurs in sectors like life sciences, digital transformation, artificial intelligence, and other emerging industries.
Managed by Yaletown Partners, who oversaw the program’s second and third funds, Accelerate Fund IV aims to continue its pivotal role in Alberta’s growing tech ecosystem. Since its inception in 2012, the Accelerate Fund has supported 46 local technology startups, helping them progress from pre-seed or seed stages to critical funding milestones.
“Since 2012, the Accelerate Fund has been instrumental in fostering the growth of Alberta’s tech ecosystem,” said Kristina Williams, CEO of Alberta Enterprise Corporation. “This program not only increases the odds of startup success but also drives job creation and strengthens our province’s venture capital landscape.”
The launch also drew praise from Alberta’s Minister of Technology and Innovation, Nate Glubish. “We are positioning Alberta as a leading destination for tech investment and talent,” he stated. “This latest investment will help early-stage companies stay, grow, and expand innovation and technology jobs within the province.”
The Accelerate Fund series requires private angel investors to match or exceed the fund’s contributions, creating a significant multiplier effect. For every dollar invested by the fund, an additional ten dollars have been raised from private and institutional sources.
This co-investment model has enabled Alberta startups, including notable companies like SamDesk, StellarAlgo, DrugBank, and Helcim, to scale their operations, expand revenues, and attract subsequent rounds of funding. The program has also seen successful exits, such as Passportal and Decisive Farming, solidifying its track record.
As Alberta continues to attract leading venture capital firms and tech talent from across Canada and internationally, Accelerate Fund IV represents a key component of the province’s strategy to nurture homegrown innovation. With the fund’s focus on early-stage companies, it promises to play a vital role in shaping the next generation of Alberta’s tech leaders.
For local entrepreneurs, the launch of Accelerate Fund IV underscores the province’s commitment to fostering a vibrant technology sector and solidifying its reputation as a hub for innovation and growth.
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