Edmonton—As Alberta’s economic forecast brightens, ATB Financial is proud to be a founding investor in the Canadian Business Growth Fund (CBGF). The fund aims to help both Canadian and Alberta entrepreneurs access the capital they need to drive growth and expansion.
Accessing growth capital has traditionally been a challenge for many entrepreneurs as identified by the Federal Minister of Finance’s Advisory Council for Economic Growth. In response, ATB joined Canada’s leading banks and insurance companies to provide a new source of capital through CBGF. CBGF has an initial capital commitment of $545 million, projected to increase to $1 billion in future years.
CBGF will invest between $3 million and $20 million in high potential, mid-market companies across Canada (including in Alberta) with $5 million or more in annual revenue, a demonstrated growth trajectory, and a clear vision for accelerated growth.
“Alberta is our home. We understand the challenges our entrepreneurs are facing and have a proud legacy of standing beside them throughout their journey,” said Curtis Stange, ATB Financial’s chief customer officer. “Through our investment in the Canadian Business Growth Fund, we can help propel our customers’ growth aspirations and respond to disruption with new ideas and innovations, ultimately helping Alberta achieve further success.”
ATB has invested $25 million in the fund, which operates independently, with its own board of directors and management team. ATB, alongside other investors, will support the fund by playing a role on the CBGF board in the years ahead.
About ATB Financial
With assets of $51.9 billion, ATB Financial is Alberta’s largest home-grown financial institution. Established in 1938, ATB is a network of 175 branches, 141 agencies, a Customer Care Centre, four Entrepreneur Centres, along with mobile and online banking. ATB’s more than 5,000 team members help more than 750,000 customers in 247 Alberta communities.