Edmonton-based Alberta Enterprise announced today commitments to two Vancouver based funds: $14 million to Yaletown Ventures II LP, a $103 million clean tech and IT fund; and US $15 million to Chrysalix Energy Limited Partnership III, a US $123 million clean tech fund.
"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."
"The opening of our new office in Calgary and recruitment of a full-time, Alberta-based investment professional, demonstrate our desire to leverage Alberta's tremendous energy industry expertise and our confidence in the growth opportunities in the sector," said Michael Walkinshaw, Managing Director and CFO, Chrysalix.
Alberta Enterprise invests in technology venture capital funds that finance early-stage, knowledge-based companies.
Great to see Albertans recognizing Chrysalix Energy as an investment option. In November 2009, the BC Renaissance Capital Fund passed on Chrysalix when doling out $55 Million to Ottawa's Wesley Clover, Toronto's Tandem Expansion, Yaletown Venture Partners, and Paul Lee's VanEdge Capital.
Based in Vancouver, British Columbia, Yaletown Venture Partners is a venture capital firm that invests time and money in seed and early-stage... [more]
Chrysalix Energy invests in and supports compelling technologies and entrepreneurial management teams that address the changing demands of the... [more]
Alberta Enterprise Corporation is an independent private equity fund of funds manager. Our fund, the Alberta Enterprise Fund, is a $100 Million... [more]
Rob Lewis
Rob is the President of Techvibes Media Inc. and Editor-in-Chief of Techvibes.com.
His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University.
When not blogging on...[more]
