
Alberta Enterprise Corporation (AEC) has committed CAD 5 million to Pender Ventures’ second fund, the Pender Technology Inflection Fund II. This strategic move is aimed at accelerating Alberta’s burgeoning tech startup ecosystem, particularly in the health tech and B2B sectors.
A Boost to Alberta’s Growing Tech Scene
Pender Ventures, a renowned Canadian venture capital firm, has raised a total of CAD $100 million for its second fund. The firm plans to use these funds to support early-stage technology businesses, particularly those focused on B2B software and health technology. With a new full-time presence in Calgary, Pender Ventures is deepening its roots in Alberta’s entrepreneurial community.
Kristina Williams, CEO of Alberta Enterprise Corporation, highlighted the alignment between Pender Venture’s focus and the province’s growing startup scene. “Two-thirds of Alberta’s startups are in health and life sciences or B2B IT, making Pender Ventures an ideal partner for local businesses,” she commented. This investment ensures that Alberta’s startups have access to the expertise and capital needed to scale successfully.
Expanding Opportunities for Local Entrepreneurs
This collaboration between AEC and Pender Ventures is a game-changer for Alberta’s entrepreneurs. By utilizing Pender Ventures’ decades of experience, Alberta’s tech startups can benefit from mentorship, strategic insights, and a robust investment network. Notably, Pender Ventures has already made a significant mark with investments like DrugBank in Edmonton, showcasing its commitment to the region.
Maria Pacella, Managing Partner at Pender Ventures, expressed her enthusiasm for the local ecosystem, saying, “We’re excited to be part of Alberta’s entrepreneurial culture and look forward to empowering local businesses to grow and innovate on the global stage.”
Strategic Investment for Alberta’s Future
With this $5 million injection, AEC is taking significant steps to enhance Alberta’s venture capital era. The province’s tech sector is poised to make a mark nationally and internationally, particularly in health and business technologies.
Nate Glubish, Minister of Technology and Innovation, highlighted, “This investment strengthens Alberta’s position in the global tech sector, giving local B2B startups access to crucial capital and expertise.”
Alberta Enterprise Corporation’s investment into Pender Ventures Fund II is a clear signal that the province is serious about promoting innovation and scaling its tech sector. As more capital flows into Alberta’s startups, the potential for global success grows exponentially.
Let us know your thoughts on this exciting development and how it will shape the future of Alberta’s tech industry.
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