Annual Report 2019-20 (Alberta Enterprise Corporation)

Summary

• Alberta Enterprise Corporation has committed over $188 million for investment across 19 venture capital funds.p.6
• Venture capital partnerships have driven over $563 million of VC investment into 50 Alberta technology companies.p.6
• Investments supported by Alberta Enterprise funds have created 1,600 direct jobs in the province.p.6
• Every $1 invested by Alberta Enterprise has resulted in more than $4 of investments back into Alberta companies.p.6
• Portfolio VC funds have recorded 34 profitable exits, generating distributions of $45 million to Alberta Enterprise.p.7
• In 2019, Alberta reached a 10-year high in venture capital activity, with $227 million total volume across 39 deals.p.11

Key insights

1. Every $1 invested by Alberta Enterprise is currently valued at $1.12.p.7
2. Alberta Enterprise leveraged its $188 million in committed capital to create access to >$2 billion in venture financing.p.7
3. Matching angel funds invested nearly three times the amount committed by Accelerate Fund II into identical early-stage companies.p.14
4. Alberta Enterprise supports 10 General Partners with an active presence in Alberta, including eight VC offices established in the province.p.19
5. The Start Alberta platform features 576 active companies and 50 registered investors to improve tech ecosystem visibility.p.24
6. Capital disbursed to Limited Partnerships for investments totaled $16.6 million in the 2019-2020 fiscal year.p.30