CVCA 2020 Year in Review shows VC investment in Alberta rose 100% last year
EDMONTON, AB, March 24, 2021 /CNW/ – Alberta Enterprise today highlighted findings of the 2020 Year in Review released by the Canadian Venture Capital and Private Equity Association (CVCA) which showcased another year of record growth in Alberta’s technology sector despite current economic volatility. In 2020, Alberta reported $455M in venture capital investment, spread across 51 deals – a 100 per cent increase over investment in 2019.
“We’re building a spectacular record of resilient investment growth in Alberta with deal volume increasing and deal size up by more than 50 per cent in 2020 as our technology sector matures,” commented Kristina Williams, CEO Alberta Enterprise Corporation. “It’s rewarding to see that Alberta Enterprise is playing a pivotal role in creating access to venture capital with more than half of the invested dollars in Alberta involving funds in which we’ve invested.”
Alberta was one of few provinces to outperform all past years of venture capital investment in 2020, and across all metrics: total dealflow dollar volume, number of deals and average deal size.
CVCA: 2020 Venture Capital Highlights – Alberta:
Deal Volume and Size
Alberta: CAD $455M across 51 deals in 2020 (up 100% from CAD $227M, up 31% from 39 deals in 2019)
Alberta: Average deal size $8.9M (up 53% over 2019 deal size average of $5.8M)
Top Disclosed Alberta VC Deals or Megadeals:
Calgary-based fintech Neo Financial raised a CAD $50M Series A round, with participation from Golden Ventures and Inovia Capital
Calgary-based digital engagement platform Symend raised a CAD $73M Series B round led by Inovia Capital and with participation from Mistral Venture Partners and Ignition Partners
Edmonton-based enterprise software company Jobber raised a CAD $76M Series C round from Version One Ventures, OMERS Ventures & Tech Pioneers Fund
While the CVCA reported that total venture capital deal volume in Canada contracted by 29 per cent in 2020, VC investment into Alberta companies surpassed historic records. Alberta’s ability to attract investment highlights the increasing maturity of its tech sector, as well as the sophistication of innovative startups that are launching and growing globally competitive companies from the province.
Alberta Enterprise Corporation promotes the development of Alberta’s venture capital industry by investing in venture capital funds that finance technology companies. We focus on funds that have a strong commitment to Alberta – including a full-time presence in the province. In addition to capital, we support Alberta’s venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. Since our inception we have committed C$219 million for investment to twenty VC funds including Accelerate Funds I, II and III, covering a diverse range of forward-looking industries including information technology, industrial technology and life sciences.
SOURCE Alberta Enterprise Corporation
For further information: Editorial Contact: +1 587-402-6601, [email protected]
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
