InterGen Capital, a Calgary-based non-profit scale-up fund and accelerator, has received a $1 million contribution from the Calgary Chamber of Commerce.
The contribution is an investment in InterGen’s fund, which is expected to deploy capital into post-seed and pre-Series A companies based in Alberta. The fund’s investment capital is syndicated alongside angels, other funds, and corporate investors. This contribution brings the fund’s total amount raised to $7 million, which includes a previous $4 million raised from undisclosed prominent “families” and a sidecar (an investment strategy where one investor allows a second investor to control where and how to invest the capital) of $2 million raised from corporate partners. InterGen is looking to write $1 million cheques in rounds totalling about $3 million to $5 million.
“The fund is a vital part of InterGen’s commitment to accelerate the growth and scale of high-potential Calgary companies.”
“We are thrilled that the Calgary Chamber is participating in our fund,” said Sandi Gilbert, managing director of InterGen and the founder and CEO of SaaS company DealPoint. “InterGen was founded with a belief that the talent and expertise responsible for making Calgary the economic envy of the entire continent for the last twenty years can be leveraged to build the companies that will define the next twenty years and beyond.”
The firm’s more unique offering is its talent development program and matching platform that pairs startups with senior executives that can help the businesses scale. The executives are meant to provide more than simple mentorship and the pairings are intended to do “in-the-weeds” work for companies on a casual, fixed-term, or ongoing basis.
The pairings are made through a platform that is currently in beta, through which companies can register their skills, interests, and needs. The platform’s algorithm then matches companies with executives, and InterGen ecosystem members get access to a variety of education programming, roundtables, and learning opportunities.
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“The fund is a vital part of InterGen’s commitment to accelerate the growth and scale of high-potential Calgary companies by pairing them with talented, retired, and transitioning business talent committed to our province’s future,” said InterGen board chair, Brian Felesky. “We match them through our InterGen Connect technology platform and support them with educational offerings, training and roundtables featuring entrepreneurs, investors, and industry experts.”
InterGen was born in 2018 from the Top 7 Over 70 project, which recognizes the achievements of older individuals undertaking new pursuits in the Calgary area. The founding team of InterGen is led by some notable Calgary families, corporations, and institutions, including Jim Gray, a philanthropist and prominent figure in oil and gas, and James Lochrie, the co-founder of Wave.
Photo by Bernard Spragg
