2015-2016 Annual Report (Alberta Enterprise Corporation)

Summary

• Alberta Enterprise Corporation has committed $105 million for investment in technology venture capital funds including 32 Degrees, Accelerate Fund, Avrio II and III, Azure, Chrysalix, Enertech, iNovia, McRock and Yaletown.p.4
• As of March 31, 2016, Alberta Enterprise leveraged its $105 million capital commitments into >$940 million.p.4
• Venture capital funds and their partners have invested over $305 million in 28 Alberta technology companies, creating over 1,100 direct jobs in the province.p.5
• Every $1 invested by Alberta Enterprise has resulted in almost $4 of investments back into Alberta companies.p.4
• For the fiscal year ended 2015-16, Alberta Enterprise's Partnership investments were valued at $83.6 million.p.20

Key insights

1. Every $1 invested by Alberta Enterprise has resulted in almost $4 of investments back into Alberta companies.p.4
2. Alberta Enterprise leveraged its $105 million capital commitments into >$940 million as of March 31, 2016.p.4
3. Investment in Alberta tech companies grew from $79M across 8 companies in March 2013 to $305M across 28 companies in March 2016.p.5
4. Investments made by Alberta Enterprise have established five new and four expanded venture capital offices in Alberta.p.5
5. In fiscal year 2015-2016, Alberta Enterprise disbursed $11 million to Limited Partnerships to meet funding requirements.p.20
6. Alberta Enterprise committed $5 million for investment in Avrio Ventures III during the fiscal year.p.17