(MENAFN- GlobeNewsWire - Nasdaq) VANCOUVER, British Columbia, Nov. 14, 2024 (GLOBE NEWSWIRE) -- We are proud to announce the final close of our second venture fund at Pender Ventures, technology Inflection Fund II LP at over $100M with significant support from Alberta Enterprise Corporation (AEC). This closing represents a significant milestone in our mission to support the growth of resilient, scalable, and diverse Canadian Technology companies.
The addition of Alberta Enterprise Corporation as an investor strengthens our goal to support high-potential companies, including within the vibrant Alberta tech ecosystem. Alberta's innovation landscape is thriving, powered by forward-thinking startups and a community of support from institutions, investors, and local leaders. Pender Ventures' investment strategy aligns closely with Alberta's commitment to driving economic growth through technology and health-tech innovation, positioning these sectors as pillars for Canada's long-term success.
“We are thrilled to welcome Alberta Enterprise Corporation as a valued partner,” said Maria Pacella, Managing Partner at Pender Ventures.“Their investment reflects our shared vision of supporting Canada's most promising technology companies and underscores the strength and resilience of our national tech ecosystem. With this fund, we are dedicated to empowering Canadian entrepreneurs to scale their businesses, drive innovation, and make a positive impact on a global scale.”
“Two-thirds of Alberta's startups focus on health and life sciences or B2B information technology which is the focus of Pender Ventures,” commented Kristina Williams, CEO, Alberta Enterprise Corporation.“Maria Pacella leads a diverse and accomplished investment team that can provide our startups with a market advantage as they seek to transform the future of business and healthcare.”
This announcement follows Pender Ventures' successful allocation from the Government of Canada's Venture Capital Catalyst Initiative (VCCI), awarded in July, which has further enabled the firm's growth and extended its reach to even more Canadian startups.
“Through our federal government's Venture Capital Catalyst Initiative, we are investing in Canada's VC ecosystem alongside private and provincial partners. We are pleased to back Pender Ventures in its efforts to support high-potential, innovative firms in health technology and advance inclusive growth.”
– The Honourable Rechie Valdez, Minister of Small Business
(( Par l'entremise de l'Initiative de catalyse du capital de risque, qui est une initiative fédérale, nous investissons dans l'écosystème du capital de risque du Canada, avec nos partenaires provinciaux et du secteur privé. Nous sommes heureux de pouvoir appuyer Pender Ventures dans ses efforts pour soutenir les entreprises novatrices au potentiel élevé dans le domaine des technologies de la santé et pour favoriser la croissance inclusive. ))
– La ministre de la Petite Entreprise, l'honorable Rechie Valdez
This achievement wouldn't have been possible without the support of our early and returning investors as well as new ones including: Export Development Bank (EDC), InBC, Venture Capital Catalyst Initiative (VCCI), Bank of Montreal (BMO), BDC Capital, Co-Operators, Kinsted Wealth, Canadian Imperial Bank of Commerce (CIBC), VanCity and a number of private investors.
With this fund, Pender Ventures is well-positioned to invest in and support high-potential B2B technology and health tech start-ups at the inflection point between commercialization and scale up. We look forward to contributing to the future of Canadian tech, supporting founders across the nation, and playing a vital role in Canada's long-term growth.
About Pender Ventures
Pender Ventures is a thesis-driven venture capital investor focused on B2B software and health tech startups at the inflection point between commercialization and scale. As hands-on, high-conviction investors, Pender Ventures' diverse team leverages decades of experience to add operational and strategic value to its portfolio companies.
For more information, please visit
About Alberta Enterprise Corporation alberta-enterprise.ca
Alberta Enterprise Corporation (AEC) promotes the development of Alberta's venture capital industry by investing in venture capital funds that finance technology companies. AEC focuses on funds that have a strong commitment to Alberta – including a full-time presence in the province. In addition to financial capital, AEC supports Alberta's venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. As of June 2024, AEC has committed C$382 million for investment to thirty-six venture capital funds, covering a diverse range of forward-looking industries including information technology, energy and industrial technology, and life sciences.
About VCCI
The federal government's Venture Capital Catalyst Initiative (VCCI) co-invests in venture capital funds, alongside the private sector and other public sector investors, to support innovative Canadian businesses. Since 2016, the federal government has invested over $820 million in the Canadian VC ecosystem to support Canadian fund managers, founders and innovation.
For further information, please contact:
Melanie Moore
Vice President of Marketing, PenderFund Capital Management Ltd.
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(604) 688-1511
Toll Free: (866) 377-4743
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