Alberta Enterprise Corporation has invested CAD$10 million in Luge Capital’s second fund, aiming to strengthen the province's fintech ecosystem and support local startups.

Target Information

The Alberta Enterprise Corporation (AEC) has made a significant investment of CAD$10 million into Luge Capital's second fund, which has a total size of CAD$93 million. This investment is set to enhance funding opportunities for fintech startups in Alberta, enabling them to access essential capital and growth support. In conjunction with this investment, Luge Capital will establish a permanent presence in Alberta with the recruitment of a dedicated investment manager.

Luge Capital is an early-stage venture capital firm that concentrates on funding fintech companies, managing around CAD$180 million across its two funds. The firm employs its profound industry expertise and insights to identify and support high-potential fintech enterprises in both Canada and the United States. Its investor base includes significant financial and insurance corporations, which may collaborate with the portfolio companies as they grow.

Industry Overview

The fintech industry in Alberta is rapidly evolving, with several promising startups emerging in the province. Acknowledged for its robust tech landscape, Alberta's fintech sector is becoming increasingl