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
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 investor dedicated to closing the scale-up capital gap and focused on the Intelligent Industry opportunity. We invest in emerging-growth companies that enhance sustainability and productivity for industrial and enterprise customers. Our investments enable the application of data and technologies to digitally transform traditional industries, drive innovation, create operational efficiencies and reduce the impact of climate change. 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.

www.yaletown.com

The A100 Industry Committee

The A100 is a non-profit, member-funded organization of “been there, done that” tech entrepreneurs and executives. The group is dedicated to helping Alberta’s next generation of innovative start-ups become successful. Formed by a group of industry pioneers who have been tied to many of Alberta’s technology success stories, the organization now has more than 80 members across the province.

www.thea100.org

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.

www.alberta-enterprise.ca

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.

Scott Campbell CEO of Solv3D

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.

Dave Damer Founder and CEO of Testfire Labs

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.

Colin Knox CEO of Passportal

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.

David Lloyd CEO and Co-Founder of FREDsense

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