Annual Report 2021-2022 (Alberta Enterprise Corporation)

Summary

• Alberta Enterprise Corporation has committed $269 million for investment in 25 funds, establishing access to >$3.4 billion of investment capital.p.4
• Venture capital funds and their partners have invested over $1 billion in 65 Alberta technology companies, generating over $5.40 of investment back into local businesses for every $1 invested.p.4
• Venture capital investments in Alberta reached a record $561 million across 87 companies in 2021.p.5
• The 65 Alberta companies supported by venture capital from Alberta Enterprise funds have created over 2,400 direct jobs and an estimated 11,500 indirect jobs.p.4
• Alberta Enterprise generated a net investment income of $4.7 million in fiscal year 2021/22.p.7

Key insights

1. Alberta Enterprise leveraged $269 million in capital commitments into >$3.4 billion of investment capital for a leverage ratio of 12.7:1.p.4
2. Every $1 invested by Alberta Enterprise in funds has generated more than $5.40 of investments into Alberta companies.p.21
3. Portfolio companies under Alberta Enterprise monitoring supported 2,419 direct employees in Alberta as of March 31, 2022.p.22
4. Cumulative distributions back to Alberta Enterprise from portfolio funds grew to $84.5 million as of March 31, 2022.p.23
5. Edmonton-based DrugBank closed a $9M seed round led by Brightspark with participation from Amplitude Ventures.p.11
6. The Start Alberta database expanded ecosystem reach to more than 60 million people through platform partnerships.p.9