PRESS RELEASES 11/15/2012 3:00:00 PM | Marketwire News

AVAC Announces New Funds Under Management

EDMONTON AND CALGARY, ALBERTA--(Marketwire - Nov. 15, 2012) - AVAC Ltd. today announced the agreement with Alberta Enterprise Corporation whereby AVAC will manage the Accelerate Fund and invest in innovative Alberta-based companies that offer solutions related to information and communications technology, clean/energy technology, and life sciences. This Fund will expand the available capital for early-stage companies across all technology sectors. The unique feature of the fund is that it will leverage participation of experienced technology investors and entrepreneurs. Investments made by the managing partner will be matched by individual angel investors. By working closely with the A100, a group of experienced technology entrepreneurs, AVAC anticipates building technology successes more quickly than previously possible. "We determined that there was a funding gap for Alberta's emerging tech entrepreneurs," said Barry Heck, Vice Chairman and CEO of Alberta Enterprise. "The Accelerate Fund targets this gap, by increasing the capital available for early-stage companies in Alberta and helping more technology businesses get the human and financial capital they need to successfully execute." "AVAC is Alberta's most experienced and active early stage investor and we look forward to putting this capital to work. The addition of working with A100 is a significant asset for the tech sector. When you can match talent and capital to the prospective investee, your opportunity for success increases dramatically." Ross Bricker, CEO AVAC Ltd. The Accelerate Fund will seek to maximize the leverage of its capital by co-investing in early stage businesses with angels. The Accelerate Fund encourages collaboration among angel investors and is looking to bring multiple angel investors into deals. Financing is open to technology companies in information and communications technology, clean and energy technology, as well as life sciences, including agriculture and biotech. For more information on the Accelerate Fund, see www.acceleratefund.ca. To meet the challenge of providing necessary coaching and support to these early stage companies, an Industry Committee will advise the Accelerate Fund. This group will offer industry insight and mentorship, but will not influence investment decisions made by the Fund Manager. This Industry Committee will be led by the A100 organization and will include other industry leaders and investors. About AVAC Ltd: www.avacltd.com AVAC Ltd. is an Alberta-based investment company investing in promising early-stage commercial ventures in value-added agri-business, information and communications technologies, life sciences, and other industrial technology sectors. AVAC also manages an active early-stage venture capital fund-of-funds investment pool. AVAC's mandate is to help bridge the critical investment gap that exists between innovative ideas and commercial business success. AVAC has invested $95 Million directly in early stage Alberta opportunities, and has assisted 61 early-stage companies reach commercial revenue. About A100: www.thea100.org The A100 is a non-profit, member-funded organization of "been there, done that" tech entrepreneurs and executives, interested and dedicated in helping Alberta's next generation of innovative start-ups in becoming successful. Formed by a group of industry pioneers who have been tied to many of Alberta's technology success stories, we've now grown to over 50 members. About Alberta Enterprise: www.alberta-enterprise.ca Alberta Enterprise promotes the development of Alberta's venture capital industry by investing in VC funds that finance early stage technology companies. Launched with a $100 million investment from the Government of Alberta, Alberta Enterprise focuses on funds that have a strong commitment to Alberta - including a full-time presence in the province. The organization also supports Alberta's VC ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. Contact: AVAC Ltd. Ross Bricker President & CEO (403) 274.2774 220, 6815-8 Street NE Calgary AB T2E 7H7 Alberta Enterprise Corporation Rebecca Giffen Director of Investments (780) 392.3901 Suite 1100, 10830 Jasper Avenue Edmonton AB T5J 2B3 The Alberta 100 Tech Entrepreneurs Inc. David Edmonds Chair, Industry Committee 403-703-1440

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