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Annual Report 2012-2013 (Alberta Enterprise Corporation)

ReportAlberta Enterprise CorporationMay 201334 pages51 min readOriginal source
Key number
$90 million million $
Total Capital Committed p.5
What changed
$36 million million $
Commitments Closed in FY 2012-2013 p.5

Summary

  • Alberta Enterprise Corporation committed $90 million of its total $100 million allocation to venture capital funds by fiscal year 2012-2013.p.5
  • During fiscal year 2012-2013, Alberta Enterprise completed $36 million in new fund commitments.p.5
  • The corporation established the Accelerate Fund, a $10 million angel co-investment fund managed by AVAC Ltd.p.10
  • Membership in the Venture Capital Association of Alberta expanded by 80% from ten to eighteen members during 2012-2013.p.11
  • Alberta Enterprise disbursed $27.333 million in fiscal year 2012-2013, bringing total cumulative disbursements to limited partnerships to $37.240 million.p.13

Key insights

  1. Alberta Enterprise has committed $90 million of the $100 million in investment capital provided by the Province of Alberta across eight fund commitments.p.5
  2. Venture capital funds backed by Alberta Enterprise established 4 new local offices and expanded 4 existing offices in the province.p.9
  3. On April 3, 2013, the Ministry of Enterprise & Advanced Education announced that Alberta Enterprise fulfilled its initial mandate as its three-year term closed.p.3
  4. The corporation launched the Accelerate Fund, a $10M vehicle to address early-stage financing gaps alongside angel investors.p.10
  5. The 2nd annual AccelerateAB tech conference attracted more than 460 attendees in Edmonton.p.12
  6. Alberta Enterprise achieved an operating cost $169 thousand below budget for fiscal year 2012-2013 due to prudent cost management.p.13

Investors in this report

Alberta Enterprise CorporationAccelerate FundAzure Capital Partners

Topics and entities

Business angelsPublic funding and grantsSME finance and lendingStartup ecosystemsStartup fundingVenture capital32 Degrees CapitalA100Accelerate FundAlberta Enterprise CorporationAVAC Ltd.Avrio CapitalAzure Capital PartnersC100Chrysalix Energy Limited Partnership IIIEnerTech Capital Partners IV Limited PartnershipEnterprise & Advanced EducationiNovia Investment Fund Limited Partnership IIIVenture Capital Association of AlbertaYaletown Ventures II Limited Partnership

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