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 was managed by Yaletown Partners supported by The A100.

In 2020, a third Accelerate Fund III was created, first with another $10 million capital allocation from Alberta Enterprise Corporation, then topped up with an additional $5 million to bringing Alberta Enterprise’s investment in the fund to $15 million. Then in November 2021, the Opportunity Investment Calgary Fund (OCIF) invested an additional $6 million, bringing the total fund to $23 million. Yaletown Partners continues to manage Fund III with the support of The A100.

The Accelerate Fund II & III Team

Arden Tse
Investment Manager, Accelerate Fund II & III, Yaletown Partners
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Yasmine Al-Hussein
Associate, Accelerate Fund II & III, Yaletown Partners
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Melania Antoszko
Investment Analyst, Accelerate Fund II & III, Yaletown Partners
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Brad Johns
Partner, Yaletown Partners
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David Edmonds
Industry Committee Chairman A100
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Collaborators in Accelerate Fund II& III

Yaletown Partners Fund Manager

Yaletown Partners is a leading Canadian venture capital fund manager that invests in the technologies digitally transforming traditional industries by prioritizing climate-resilient growth. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Edmonton, Toronto, Montréal, and San Francisco.

The A100 Industry Committee

The A100 is a non-profit, member-funded organization of experienced tech founders and executives. Formed in 2010, A100 members are dedicated to helping drive lasting economic diversification by volunteering their time and energy to help grow the next generation of tech and innovation leaders.

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 five 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.

It was really important for us to find partners within the Alberta ecosystem that could help us continue to grow here. Accelerate Fund was the obvious choice. The team’s guidance and outside perspective have been invaluable.

Marjorie Junio-Read CFO, Helcim

Accelerate Fund’s thorough due diligence and advocacy for PulseMedica not only helped us secure vital funding but also opened doors for additional investors.

Nir Katchinkskiy, PhD CEO and Co-Founder

We bootstrapped until we needed to fund more rapid growth. We got to know Accelerate Fund in the Edmonton tech community. We knew they were smart, connected, good people with a reputation for growing Alberta companies.

Michael Wilson CEO and Co-founder of DrugBank

With their deep industry knowledge and guidance in supporting our team, Accelerate Fund III is the right-fit investor for us as we strive to build Alberta’s next unicorn.

Omer Choudhary CEO and Founder, Truffle

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