Alberta Enterprise Corporation invests $5M in Panache Ventures

Alberta Enterprise Corporation disclosed today that it has committed $5 million to Panache Ventures Investment Fund 2018, L.P.

On March 7, 2018, Panache Ventures, founded by former principals of 500 Startups Canada, announced $25 million initial close, but did not disclose limited partner investors.

Panache Ventures Investment Fund 2018 is managed by General Partners, Patrick Lor of Calgary, and Mike Cegelski and David Dufresne of Montreal.

Panache Ventures is targeting a fund size of $40 million and plans to invest in approximately 140 startups over the next four years.

Funded by Government of Alberta, Alberta Enterprise Corporation (ACE) invests in Alberta focused venture capital funds. ACE funded venture funds must have presence with investment professionals in Alberta and must join Venture Capital Association of Alberta.

photo credit: Panache Ventures


Ted Liu
Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal, TechnologyMetals.ca, GoldSilverMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of sophisticated and advanced CPE Media Private Capital Dealbase. Ted is President of CPE Media Inc., Canada's independent, trusted and unbiased data provider tracking Canadian VC/PE, private capital industry and public market.
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