Alberta’s fintech sector is poised for significant growth as Luge Capital secures a $10 million investment from Alberta Enterprise Corporation (AEC) into its $93-million Fund II.
This strategic funding aims to empower emerging fintech startups across the province, offering them capital and expert support to scale globally.
Luge Capital, an early-stage venture capital firm specializing in fintech, now manages approximately $180 million across two funds. Renowned for its deep industry knowledge and strategic partnerships, Luge collaborates with major financial and insurance corporations to connect promising startups with industry leaders.
Recognizing Alberta’s potential as a fintech hub, Luge has already invested in Edmonton-based HonestDoor and Calgary-based OneVest.
To deepen its engagement, Luge has appointed Chelsea Gillett, an experienced investment manager, to establish a full-time presence in Alberta. Gillett, well-versed in Alberta’s tech community, expressed enthusiasm for supporting local fintech founders in developing innovative solutions impacting personal finance and corporate practices.
“I’m very excited to collaborate with many more of Alberta’s startups, wearing my new Luge fintech hat,” said Gillett.
David Nault, General Partner at Luge Capital, highlighted the firm’s commitment to nurturing Alberta’s fintech ecosystem. “With AEC’s investment, we’re eager to support Alberta’s fintech entrepreneurs and help them build impactful companies that benefit the entire financial ecosystem.”
AEC’s backing of Luge Capital signals strong confidence in Alberta’s capacity to evolve into a leading fintech center in Canada, with Luge positioned to play a pivotal role in this transformation.
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