Allied Venture Partners confirmed on July 23, 2021, that they have invested over $1 million into early-stage tech startups while helping to close almost $13 million in total funding since their October 2020 debut.
Based in Calgary, Alberta, AlliedVP invests in early-stage tech firms from across North America, with a focus on “driving additional foreign investment into Western Canada‘s technology ecosystem” while offering local investors “greater diversification and access to high-potential deal flow.”
Matthew Wilson, Founder and MD at Allied Venture Partners, stated:
“Crossing the $1 Million mark in just nine short months is an exciting milestone. As the economic impact from Covid-19 continues to affect the local oil & gas industry, investor mindsets are expanding to include high-growth & innovative industries, like technology.”
Wilson also noted that when coupled with additional government stimulus into their fast-evolving tech sector, Western Canada remains one of North America’s fastest-growing tech centers.
Wilson added that several major funding announcements have helped to put their tech ecosystem on the map, “namely from local tech companies Symend, Athennian, Benevity, Neo Financial, Absorb Software… and the list goes on.” Alberta continues to “emerge as a global AI & ML hub, with the number of technology companies more than doubling since 2018, to more than 3,000,“ he added.
Allied Venture Partners was established as “a means of driving experienced outside capital into Western Canada’s technology ecosystem while providing local investors with greater access to high-potential deal flow from established VC markets.”
Wilson also mentioned that early indications indicate that their alternative outside-in model is “working exceptionally well, having already given local investors access to numerous venture-scale technology opportunities alongside top-tier VCs.” Concurrently, their diverse investor network has “grown exponentially, now with more than 700 members globally,” Wilson claims.
“Our investor network not only includes angels, VCs & institutional funds but also a wealth of entrepreneur/operators, from senior engineers at Google & Amazon to founders and C-suite executives at billion-dollar tech unicorns. In addition, the launch of our Scout Program has been a key growth driver, and we are now at the exciting inflection point where we can showcase our promising local tech startups to a globally diverse & experienced network of technology investors.”
AlliedVP’s first $1 million has been invested across five firms ranging from Seed to Series A, along with one “follow-on” investment. Industries include Gaming, Blockchain, FinTech, Enterprise SaaS, MarTech, Finance & Consumer Marketplaces, according to an update shared with Crowdfund Insider.
“Most importantly, we are seeing early indications of establishing the brand we set out to build. We’re attracting the types of highly talented, passionate & innovative entrepreneurs we aspire to work with, and they are choosing to partner with us as they build world-class companies.”
Allied Venture Partners or AlliedVP is one of Canada’s biggest angel investor groups that is focused on diversifying Western Canada’s funding ecosystem for tech entrepreneurs and investors.
The group’s threefold strategy aims “to broaden the pool of available capital for local startups, provide local investors with greater portfolio diversification via outside deal flow opportunities, while acting as a trusted conduit among foreign investors wishing to gain access to Canada’s fastest-growing technological hub.”
AlliedVP is based in Calgary, Canada with another office in Sydney, Australia. Startups may submit applications for backing and investors may join the group by visiting allied.vc.