Alberta A Leader In Growth In The Venture Capital Space
Mario Toneguzzi
The growth rate of a business is a key factor in what potential investors look at when considering what companies to buy and invest their money in.
Kristina Williams, President & Chief Executive Officer, Alberta Enterprise Corporation (AEC), says investors also want to know if those companies have the right team in place for the stage of their business.
Williams shares her insights on:
- The importance of an entrepreneur’s ability to think big;
- The number of venture capital deals happening in Alberta;
- The technology boom in Alberta.
Enjoy,
Mark
The growth rate of a business is a key factor in what potential investors look at when considering what companies to buy and invest their money in.
Kristina Williams, President & Chief Executive Officer, Alberta Enterprise Corporation (AEC), says investors also want to know if those companies have the right team in place for the stage of their business.
“Perhaps the founder isn’t the right person for the next step. If they’re not, you need to strengthen your team with some of the skills you’re missing. And it’s important you look at that objectively and think about what kind of team you need for the future. The right team is vital,” says Williams.
“(Investors) also really care about if you have a clear understanding of your target market and a clear strategy of how to achieve your goals . . . and are you able to communicate those well?
“The other thing that’s important is if the entrepreneur is able to think big? In Alberta we have a great entrepreneurial spirit, and there’s so many great companies that started here . . . We know we can do it. We know we can build great companies that are located here. But is the entrepreneur able to think big and think beyond the Canadian border?”
Williams is Co-Chair with Cody Church, CEO & President, Clear North Capital, of the upcoming Business Transitions Forum on April 12 at the Calgary TELUS Convention Centre.
Prior to joining AEC, Williams worked for several technology companies where her responsibilities spanned the spectrum of legal, regulatory, international and new business development, corporate strategic planning, intellectual property management, as well as marketing and sales.
At AEC she has led several of the corporation’s investments. In 2014 she was named the President and CEO, and she now oversees the management of the Alberta Enterprise Fund. She is an Associate with Creative Destruction Lab – Rockies, Vice Chair of the Northern Alberta Institute of Technology Board of Governors, a member of the North American Construction Group (NYSE/TSX: NOA) and a former member of the Alcanna (TSX: CLIQ) Board of Directors.
“We’re at an interesting point in time in terms of the venture capital space. At AEC we look at how many technology companies there are in the province,” says Williams. “Since 2012, we’ve seen a 200 per cent increase. In our last deal flow study, we identified 2,800 technology companies. Not only are we adding companies to the funnel, but the companies we have in the funnel are growing and maturing. It’s a sector that’s increasing immensely in the province.
“On the capital side, for the last couple of years Alberta has been beating the record from the prior year in terms of attracting capital. We have had an average three-year growth rate of the number of deals of 37 per cent, while Canada only grew 0.15 per cent in the last three years. As of Q3 2022, Alberta saw a 23 per cent increase in the number of deals, and a six per cent increase in the dollars invested compared to Q3 2021. At the same time Canada saw a decrease of 39 per cent in the dollars invested and a decrease of 5.8 per cent of the number of deals.
“Canada as a whole is decreasing, and Alberta is increasing. We are a leader in growth in the venture capital space.”
Since Alberta Enterprise Corporation (Alberta Enterprise) was created by the Government of Alberta in 2008, it has connected Alberta inventors, innovators and entrepreneurs to money, markets and mentors – by fostering a thriving venture capital (VC) industry in the province. It manages a fund which, via its venture capital partners, invests into technology and innovation companies:
- $1 billion of VC investment into Alberta technology companies;
- 2,800 direct jobs created in Alberta, supporting 72 companies;
- Every $1 invested has resulted in more than $5 of investment into AB technology companies.
Williams also serves on the Alberta Securities Commission New Economy Advisory Committee, and she is the Honorary Consul for Sweden in Northern Alberta. Kristina holds an MBA from the University of Alberta, a Master of Laws from Uppsala University in Sweden, an accreditation for the Venture Capital Executive Program from the University of California, Berkeley – Walter A. Haas School of Business, as well as an ICD.D from the ICD-Rotman Director Education Program.
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