In partnership with

🗳️ Question of the Week

Alberta Enterprise Corporation invests $15M

Alberta entrepreneurs may be seeing dollar signs this week after two funding announcements from the Alberta Enterprise Corporation (AEC). AEC is an independent corporation created by the Government of Alberta in 2008 to manage investment of public funds.

On Tuesday, AEC announced a $10 million investment into Luge Capital’s $93-million Fund II. Luge Capital is an early-stage, fintech-focused venture capital firm with approximately $180 million under management across two funds.

Alberta has proven to have a quality pipeline of companies and Luge has already invested in two local fintechs: Edmonton-based HonestDoor and Calgary-based OneVest.

"Some of Canada's most successful fintechs are growing here in Alberta, and we want them to continue to scale and become global leaders," said Nate Glubish, Minister of Technology and Innovation. "This latest investment by AEC helps ensure ambitious startups reshaping banking, insurance, and financial services can continue to grow and see Alberta as their home."

Just two days later, AEC announced another investment, this time in Pender Ventures' $100-million Pender Technology Inflection Fund II to expand access to early-stage capital for technology businesses and healthtech startups in Alberta. AEC contributed $5 million.

Both Luge Capital and Pender Ventures either have or will soon have a full-time presence in Alberta to support startups.

"Our team has always respected the entrepreneurial Alberta culture and we're happy to be here full-time to get even more involved in the local community," said Maria Pacella, managing partner at Pender Ventures. "With this fund, and investment from AEC, we are dedicated to empowering Canadian entrepreneurs to scale their businesses, drive innovation, and make a positive impact on a global scale."

SPONSORED BY BETTER SLEEP

The Sleep App That Forbes Rated 5 Stars 😱

The app Forbes said helps "users achieve high-quality sleep by creating and maintaining effective sleep routines” is back with new sounds and features!

Now featuring over 300 unique sounds to fall asleep to, a personalized sleep tracker and more. It’s no wonder over 65 million people have downloaded this app for better sleep.

Try it tonight 👇

Get BetterSleep!

🤝 Funding, Deals, and Partnerships

• The51 food and agtech fund closes $51 million with ATB Investment. The early-stage venture fund is dedicated to investing in diverse science and technology founders who are transforming agriculture. ATB Financial

• Government of Canada invests in important cultural infrastructure projects in Calgary. The TELUS Spark Science Centre will receive $500,000 over the next two years to purchase specialized equipment that will enhance the visitor experience at the Centre's newly renovated galleries. Government of Canada

• Blackline Safety announces shipping of EXO 8 area monitor, new $1.6 million deal with Total Safety. The EXO 8s will become part of Total Safety’s rental fleet, contracted by some of the world’s largest energy companies for critical monitoring and maintenance activities. Blackline Safety

• U of A brings entrepreneurial expertise to nationwide ‘lab to market’ networks. University will play key roles in four collaborations receiving more than $95M in federal funding. University of Alberta

SPONSORED BY CORE SHOPPING CENTRE

The CORE Shopping Centre Lunar New Year gift card promotion

The CORE Shopping Centre launches its most anticipated gift card promotion of 2025. Starting January 21, shoppers can transform an $800 gift card purchase into $888 in shopping power with an instant bonus card. Ring in the Year of the Snake with extra spending power and prosperity. Restrictions apply. Visit the website for details.

📰 Need To Know

• First Nation demands Alberta halt O’Leary’s $70B data centre project. The letter raises concerns about statements made by O’Leary on Fox News regarding project permits issued by the province. The Energy Mix

• Calgary Public Library was 'well prepared' to handle October cyber attack, CEO says. 'There's a lot of things that we did really well,' Library CEO Sarah Meilleur said. 'At the same time, those decisions resulted in a significant disruption to services.' Calgary Herald

• Calgary’s Summit Nanotech represents Alberta in 2025 list of global cleantech innovators. Canada, among those at the forefront of energy transitions aiming for “Net Zero” economies, is often a contender. Calgary.Tech