Investment Improves Access to Capital in Information Technology and Clean Tech Sectors
EDMONTON, May 18 /CNW/ - Alberta Enterprise, a fund of funds manager investing in knowledge-based industries, today announced a $14 Million investment in the latest fund from Yaletown Venture Partners, a venture capital (VC) firm focused on seed and early-stage companies in the Information Technology and Clean Technology sectors. This investment improves access to capital, and offers entrepreneurs the ability to leverage Yaletown's extensive operational experience and network of industry connections.
Yaletown Venture Partners is backed by leading institutional investors in Canada and the U.S., and by a network of successful technology entrepreneurs, executives, and angel investors. This network helps Yaletown identify promising early-stage companies, build strong syndication relationships, and leverage the firm's extensive industry connections. With the second closing of Yaletown's latest fund well surpassing its $100 Million target, the firm is now actively looking for investment opportunities in Information and Clean Technologies, which include new Alberta-based investments.
"Yaletown has seen great success with our regionally-focused investment strategy," said Mike Satterfield, Partner, Yaletown. "We see tremendous business opportunity in backing the entrepreneurs who are building Alberta's vibrant technology sector, that to date may have been under-served by venture capital."
Yaletown was selected by Alberta Enterprise for its focus on two sectors with high investment potential in Alberta. "Information technology is a priority for venture capital and angel investment in our province, and with our strengths in the energy industry, clean tech represents exciting investment potential," said Rod Charko, CEO, Alberta Enterprise. "Alberta entrepreneurs will benefit from Yaletown's expertise and industry networks in both sectors."
About Alberta Enterprise: www.alberta-enterprise.ca
Alberta Enterprise is a fund of funds manager based in Alberta, Canada. We invest in technology venture capital funds that finance early-stage, knowledge-based companies. Our focus is on venture capital fund managers with a presence in Alberta, making investments in Alberta and abroad.
About Yaletown Venture Partners: www.yaletown.com
Yaletown Venture Partners is headquartered in Vancouver, Canada and is backed by leading institutional investors in Canada and the United States, and by a network of successful technology entrepreneurs, executives, and angel investors. Yaletown leverages its extensive network to seek out the most promising early-stage clean tech and information technology opportunities in Western Canada and the US Pacific Northwest. Founded in 2002, the Yaletown team brings together an extensive network of industry relationships and more than 100 years of collective company-building and financing experience.
SOURCE ALBERTA ENTERPRISE
For further information: For further information: Media Contact for Alberta Enterprise: Jacquelynn Twarzynski, (403) 808-2161