Alberta Enterprise invests $10 million in angel fund

Alberta Enterprise Corp has announced a $10-million investment in Accelerate Fund II, an angel co-investment fund targeting early-stage tech firms in the province's information and communication technology, life sciences, clean and energy technology, agriculture and biotech sectors. The fund will be managed by Yaletown Partners with offices in Vancouver and Calgary while A-100 will operate the fund's industry committee — a role it performed for the first fund managed by AVAC Ltd. The new fund will see Alberta Enterprise invest up to $500,000 alongside angel investors on the same terms and conditions. Since its formation in 2008, Alberta Enterprise has invested $125 million in 10 venture capital funds as well as the two Accelerate funds. A-100 is a group of veteran tech entrepreneurs with more than 75 members across the province dedicated to assisting the next generation of tech start-ups….