Pender Ventures Closes $100M Fund to Support Canadian Tech Ecosystem – Techcouver.com

Vancouver’s Pender Ventures has announced the final close of its second venture fund, Technology Inflection Fund II LP, amassing over $100 million with notable backing from Alberta Enterprise Corporation (AEC).

This fund aims to fuel growth for resilient and scalable Canadian technology companies, particularly those in health tech and B2B sectors.

The inclusion of AEC as an investor strengthens Pender’s commitment to supporting high-potential companies within Alberta’s expanding tech ecosystem. Alberta’s innovation landscape is thriving, with a surge of forward-thinking startups and a robust network of support from investors, institutions, and local leaders.

Pender Ventures’ investment strategy aligns closely with Alberta’s goal of promoting economic growth through technology, with health tech positioned as a vital pillar for long-term success in Canada.

“We are thrilled to welcome Alberta Enterprise Corporation as a valued partner,” stated 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 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 globally.”

AEC CEO Kristina Williams highlighted Alberta’s emphasis on health and life sciences, sectors that make up two-thirds of the province’s startups and align with Pender’s focus. “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,” Williams noted.

The closing of this fund follows Pender Ventures’ recent support from the Government of Canada’s Venture Capital Catalyst Initiative (VCCI), awarded in July. This federal initiative, along with contributions from private and provincial investors, enhances Pender’s reach across the national tech ecosystem.

Additional backing for the fund comes from prominent Canadian investors, including Export Development Bank, InBC, Bank of Montreal, BDC Capital, Co-Operators, Kinsted Wealth, CIBC, VanCity, and various private investors.

To date Pender Ventures has achieved notable success with several investments, particularly in companies like Copperleaf Technologies and D-Wave Systems.