Alberta Enterprise has reached a CAD1 billion venture capital investment milestone in Alberta technology companies with its venture capital fund partners in 2021.
Alberta Enterprise’s venture funds have invested in 65 Alberta technology startups which has created more than 2,400 direct jobs and an estimated 11,500 indirect jobs in the province. The impact of Alberta Enterprise’s investments in Alberta’s technology sector is highlighted in its newly released annual report.
Alberta surpassed venture capital investment records set in 2019 and 2020, with CAD561 million invested into 87 companies in 2021. The momentum continued in Q1 2022. Several large deals closed for Alberta Enterprise’s portfolio companies over the last 12 months including SAM Desk, StellarAlgo, Userful, Virtual Gurus and DrugBank, with Neo Financial ranking the largest average deal size on record with its CAD191 million raise at unicorn valuation.
