The Accelerate Fund provides an alternate source of financing to Alberta startups that aren’t yet venture capital ready. The fund helps to foster the growth of Alberta’s technology sector and diversify the province’s economy. Capital for Accelerate Fund comes from Alberta Enterprise Corporation, an organization that works on behalf of the Government of Alberta to invest in venture capital funds to support the growth of early-stage technology companies.
In 2012, Accelerate Fund I was launched with a $10-million capital allocation from Alberta Enterprise Corporation. The first fund was managed by AVAC Group.
In 2016, a second $10 million capital allocation from founding limited partner Alberta Enterprise Corporation created Accelerate Fund II. Fund II is currently active and managed by Yaletown Partners supported by The A100.
Collaborators in Accelerate Fund II
Yaletown Partners Fund Manager
Yaletown is Canada’s leading emerging growth investment firm. Our investments enable accelerated growth in companies that enhance productivity for enterprise and industrial customers. Yaletown’s Innovation Growth Fund helps Canada’s most innovative entrepreneurs and their companies to scale and become market leaders. In 2017, Yaletown received the CVCA’s Venture Capital Deal of the Year award for its investment in BitStew, Canada’s largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Toronto and Montreal.
The A100 Industry Committee
The A100 is a member-driven not-for-profit association established in 2010. The majority of members are advisors, board members, and angel investors to Alberta based entrepreneurs. Our goal is to provide the necessary environment for startups to build globally driven technology and innovation companies. We believe world-class tech companies are being built in Alberta and that our collective greater involvement can meaningfully increase successful outcomes.
Alberta Enterprise Corporation
Alberta Enterprise Corporation promotes the development of Alberta’s venture capital industry on behalf of the Government of Alberta by investing in venture capital funds that finance early stage technology companies. The organization focuses on funds that have a strong commitment to Alberta – including a full-time presence in the province. The organization also supports Alberta’s VC ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta.
In early 2012, Alberta Enterprise Corporation announced a new funding strategy designed specifically for pre-Venture Capital ready companies. The Accelerate Fund addresses the existing gap at this level of financing. The corporation’s investments in funds have generated more than four times the capital back into Alberta companies, and the investment value continues to grow incrementally. The Alberta Enterprise Fund is a strategic investment that continues to foster the growth of the technology sector and a diversified economy in the province of Alberta.
Investment from Accelerate Fund was the right-sized funding for our stage of track record and growth and came with the fund managers’ deep professional experience and partner networks.
The opportunity to secure an early round that combined angel investment and venture capital was a great fit for our stage of growth. Accelerate Fund’s openness to other angels wanting to invest in us has been key in the fit.
Key for us is scaling sales. Brad and Dave provide partnership connections and insight on potential markets and the introductions and knowledge they’ve shared has already helped extend our market reach.
We are passionate about building a successful biotech business in Alberta. The Accelerate Fund II managers, Yaletown Partners and the A100, share our passion and provide us with strategic capital.