Alberta Enterprise Corporation’s latest investment expands access to US capital for local startups
AEC invests USD $7.5 million into the Alpaca VC Fund III to provide early-stage capital to various companies alberta Startups seeking the growth advantage of US venture capital and networks.
EDMONTON, AB, March 7, 2023 /CNW/ – Alberta company announced today that it has invested USD $7.5 million in Alpaca VC‘s third fund to provide early-stage capital alberta Technology companies specializing in PropTech, Construction Tech, FinTech, FoodTech, AgTech, Supply Chain and Marketplaces. Alpaca is a new York-based venture capital firm, led by partners with extensive experience as founders and investors. The company targets USD $75 million for his third fund.
Since its inception in 2013, Alpaca has invested in more than 80 startups, including recently in alberta-based placeholder a marketplace for storage space. After evaluating dozens of alberta Technology company, Alpaca sought investment from Alberta Enterprise to share in the promise and investment returns of the local startup community.
“A large part of the startups in alberta fit into Alpaca’s investment focus, and Alpaca’s investment in these companies provides access to US capital and markets,” he commented Christina Williams, CEO of Alberta Enterprise Corporation. “Bringing local startups together with the experience, connections and capital of the Alpaca team provides a real growth advantage.”
Alpaca’s team is led by US-based partners Ryan Freedman, Aubrie Pagano, David GoldbergAnd Daniel Fettner. Alpaca recently hired Calgary-based Alex Morley as a senior associate in support of the discovery of alberta startups. Alex has venture capital investment experience from BDC and District Ventures.
“Our evaluation of local tech companies in areas like PropTech, Supply Chain and FinTech showed them to be promising alberta Startup founders and their growth plans,” he commented Alex Morley, Senior Associate, Alpaca VC. “We look forward to being a catalyst in many alberta success stories.”
“Our goal is the equipment alberta companies to stay local but expand globally,” he added Nate Glubisch, Minister of Technology and Innovation. “One way to do that is by tapping into capital and investment talent from outside our borders. With the investment of Alpaca more alberta Businesses can build bigger businesses here, hire more people here, and reach new markets right from here alberta.”
Alberta Enterprise Corporation sponsors the development of Alberta Venture capital industry by investing in venture capital funds that fund technology companies. We focus on funds with high exposure alberta – including a full-time presence in the province. In addition to financial capital, we support Alberta Venture capital ecosystem by bringing together investors, entrepreneurs and seasoned technology leaders who share our passion for building a smart, innovative company alberta. We have committed C$332 million for investing in thirty-one venture capital funds, including Accelerate Funds I, II and III, covering a wide range of emerging industries including information technology, energy and industrial technology, and life sciences.
Alpaca VC is a venture capital firm led by former founders who invest at the intersection of the digital and physical worlds. We are an all-grit, not a BS team operating with a a herd Mentality. Founded in 2013, we invest in sectors in the US and Canadaincluding PropTech, blockchain infrastructure, commerce, sustainability, FinTech, the future of work and marketplaces.
Disclaimer:
The fund shares of Alpaca VC have not been registered under the US Securities Act of 1933, as amended, under any applicable state or foreign securities laws, nor have such shares been approved or disapproved by the US Securities and Exchange Commission or the securities regulatory agency of any state or foreign jurisdiction. The statements contained herein do not constitute an offer to sell or a solicitation of an offer to buy any security or investment advisory service in any state or other jurisdiction in which such an offer or solicitation is not authorized.
SOURCE Alberta Enterprise Corporation
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