Alberta has emerged as one of Canada’s fastest-growing investment destinations, driven by a decade of transformation that has expanded opportunities beyond oil and gas. In addition to its robust energy sector, the province is now attracting record levels of venture capital and private equity across industries such as technology, cleantech, life sciences, and advanced manufacturing. With Calgary set to host Invest Canada ‘25, there is no better time to showcase how Alberta has evolved into a diverse and resilient investment hub.
The province has taken a proactive approach, strengthening its startup ecosystem, expanding government-backed investment funds, and creating new incentives for private capital to flow into high-growth sectors.
Alberta’s Venture Capital Market is One of the Fastest-Growing in Canada
The last decade has seen a dramatic rise in venture capital investment across Alberta, with Calgary leading the charge.
- In 2015, Alberta recorded just 17 venture capital deals totaling $116 million.
- By 2019, investment had more than doubled to 44 deals and $238 million.
- The momentum hit a high in 2021 with 110 deals worth $679 million, marking Alberta as a serious contender among Canadian venture ecosystems.
- Even with global market downturns, Alberta sustained $691 million in venture capital investment across 88 deals in 2023, demonstrating long-term resilience.
- 2024: Venture capital remained strong at $698 million across 84 deals, keeping Alberta in a dominant position as a high-growth investment destination.
This rapid expansion has been fueled by a new wave of high-growth companies, some of which have successfully exited while others continue to scale with significant venture capital backing. Benevity and Solium Capital have achieved major exits, with Benevity acquired by Hg Capital in a deal valuing it at over $1 billion in 2020, and Solium Capital acquired by Morgan Stanley for approximately $900 million in 2019, later rebranded as Shareworks. Meanwhile, Attabotics, Neo Financial, and Parvus Therapeutics have secured substantial funding rounds but remain privately held, continuing to drive innovation in Alberta’s tech and life sciences sectors. Organizations such as Alberta Enterprise Corporation (AEC) have played a key role in the development of Alberta’s venture capital industry by investing in venture capital funds that finance technology companies and by strategic economic development initiatives supporting the province’s growing ecosystem.
Beyond Calgary, Edmonton has become a leader in artificial intelligence and health technology, supported by institutions like the Alberta Machine Intelligence Institute (Amii) and the University of Alberta. These developments are strengthening the province’s appeal to investors looking for opportunities beyond traditional industries.
Private Equity is Bringing Stability and Long-Term Growth
While venture capital drives early-stage innovation, private equity has provided long-term stability for Alberta’s investment ecosystem. The past decade has shown a steady flow of deals and growing diversification in investment targets.
- In 2015, Alberta saw 67 private equity deals totaling $3.57 billion, with most focused-on oil and gas.
- By 2019, the market remained strong with 64 deals and $2.53 billion in investment, showing signs of diversification into industrial services and construction.
- Alberta hit a peak in 2021 with $5.26 billion invested across 27 private equity deals, reflecting growing interest in technology, infrastructure, and sustainable energy projects.
- In 2023, private equity investment remained steady at $3.49 billion across 42 deals, showing confidence in Alberta’s evolving economy.
- 2024: PE activity increased again, reaching $3.91 billion across 39 deals, signaling continued expansion into infrastructure, logistics, real estate, and energy transition projects.
In recent years, private equity investors have increasingly directed capital toward sectors such as logistics, agriculture, real estate, and renewable energy in Alberta, reflecting broader national and global shifts in private capital allocation. As sustainability gains priority, Alberta’s cleantech and energy transition projects have attracted growing interest from investors seeking long-term opportunities in environmentally responsible industries. Notable examples of this trend include private equity involvement in ERM (Environmental Resources Management), Vermilion Energy’s $1.075 billion acquisition of Westbrick Energy, and significant PE investment in Artis Exploration Ltd, reinforcing Alberta’s position as a dynamic and evolving investment environment for private equity.
Alberta is Now One of Canada’s Most Promising Investment Destinations
Several key factors have contributed to Alberta’s rapid growth as an investment hub:
- Alberta Enterprise Corporation (AEC) playing a pivotal role in fostering the growth of Alberta’s technology sector through strategic venture capital investments and economic development initiatives. Government-backed investment incentives such as the Opportunity Calgary Investment Fund and Alberta Innovates have helped attract new private capital.
- Alberta’s technology sector has experienced remarkable growth in recent years, establishing the province as one of North America’s fastest-growing technology talent hubs. Between 2018 and 2023, Calgary’s tech talent workforce expanded by an impressive 78%, adding over 26,000 new positions and bringing the total to nearly 60,000.
- University-industry collaboration through programs at the University of Calgary and University of Alberta are accelerating commercialization and attracting more venture capital.
- Corporate venture participation in Alberta is expanding, with Enbridge Ventures, Suncor Energy Ventures, and ATB Financial investing in emerging technologies, clean energy, and fintech startups. These initiatives demonstrate a growing commitment from Alberta’s corporate sector to fostering innovation and strengthening the province’s startup ecosystem. These forces have created a new era of investment in Alberta that does not replace oil and gas but complements it. The province is successfully leveraging its strengths in energy and infrastructure while simultaneously driving growth in technology, life sciences, and sustainable industries.
Invest Canada ‘25 Will Showcase Alberta’s Success as an Investment Hub
Invest Canada ‘25 will provide a national platform to highlight Alberta’s transformation into one of Canada’s most dynamic private capital markets. Investors will see firsthand how Alberta has evolved from a historically energy-dependent economy to a well-diversified investment destination with opportunities across multiple high-growth sectors.
For venture capital investors, Alberta offers a thriving startup ecosystem, strong government support, and a growing pool of highly skilled talent. For private equity firms, the province provides long-term stability with established mid-market companies, infrastructure investment opportunities, and a maturing business environment.
The numbers speak for themselves — Alberta is now a leader in private capital investment and economic reinvention. With Invest Canada ‘25 coming to Calgary, there is no better time to recognize the province’s role in shaping the future of Canada’s investment landscape.
Registration is open for Invest Canada ’25. Learn more and register here.
