Annual Report 2024-25 (Alberta Enterprise Corporation)

Summary

• Alberta Enterprise Corporation has committed $430.1 million to 40 Venture Capital funds over 15 years.p.4
• Every $1 invested by AEC has generated $5.15 of investments back into Alberta technology companies.p.4
• Venture capital funds and syndicate partners have invested $1.472 billion into 98 Alberta technology companies.p.4
• Portfolio companies have created over 3,600 direct jobs and an estimated 17,400 indirect jobs in Alberta.p.5
• AEC has received $124.3 million in cumulative cash distributions from its portfolio funds since inception.p.5
• An original $350 million allocation from the Government of Alberta has grown into $411.8 million in financial assets.p.6

Key insights

1. Alberta achieved a 5-year CAGR for VC dollars invested of 25%, significantly higher than Canada's national average of 4.7%.p.4
2. AEC's portfolio generated a Total Value to Paid In capital multiple of 1.26x, creating $74 million in value above paid-in capital.p.5
3. Cumulative cash distributions are 4.08x greater than AEC's total operating expenses of $30.5 million since inception.p.6
4. Fintech firm Luge Capital and health tech firm Pender Ventures both established offices in Alberta in January 2025.p.12
5. AEC committed $5 million to Pender Technology Inflection Fund II LP, helping the fund reach its $100 million final close.p.14
6. AEC funds support 37 local investment professionals operating within Alberta as of March 31, 2025.p.24
7. The StartAlberta deal flow platform registered 2,361 verified tech startup profiles and 631 investor profiles as of March 31, 2025.p.32