Alberta Enterprise invests $29 Million in Yaletown and Chrysalix

Edmonton-based Alberta Enterprise announced today commitments to two Vancouver based funds: $14 million to Yaletown Ventures II LP, a $103 million clean tech and IT fund; and US $15 million to Chrysalix Energy Limited Partnership III, a US $123 million clean tech fund.

“Yaletown has seen great success with our regionally-focused investment strategy,” said Mike Satterfield, Partner, Yaletown. “We see tremendous business opportunity in backing the entrepreneurs who are building Alberta’s vibrant technology sector, that to date may have been under-served by venture capital.”

“The opening of our new office in Calgary and recruitment of a full-time, Alberta-based investment professional, demonstrate our desire to leverage Alberta’s tremendous energy industry expertise and our confidence in the growth opportunities in the sector,” said Michael Walkinshaw, Managing Director and CFO, Chrysalix.

Alberta Enterprise invests in technology venture capital funds that finance early-stage, knowledge-based companies.

Great to see Albertans recognizing Chrysalix Energy as an investment option. In November 2009, the BC Renaissance Capital Fund passed on Chrysalix when doling out $55 Million to Ottawa’s Wesley Clover, Toronto’s Tandem Expansion, Yaletown Venture Partners, and Paul Lee’s VanEdge Capital.