Accelerate Fund invests in Circle Cardiovascular Imaging

The Accelerate Fund has made an undisclosed investment in Circle Cardiovascular Imaging Inc, a Calgary-based developer and marketer of cardiac-image analytical software. The investment forms part of the company’s latest fundraising, originally announced in March, which also saw investments by BDC Capital and Epic Capital Management. The Accelerate Fund is an angel co-investment fund managed by Canadian venture capital firm AVAC.

PRESS RELEASE

The Accelerate Fund invests in industry-leading cardiovascular technology company

Edmonton, Canada – The Accelerate Fund, an early-stage, angel co-investment fund managed by AVAC Ltd., is proud to announce its role in the completion of a substantial financing round in Circle Cardiovascular Imaging Inc.

Circle Cardiovascular Imaging develops and markets cardiac-image analytical software for the rapidly evolving cardiac magnetic resonance (CMR) and cardiac computed tomography (CCT) industries, providing medical professionals with a wealth of information about their patient’s cardiac condition. Their software products, cvi42 and report42, streamline a highly complex and time consuming process, thereby improving cardiologist workflow, productivity, and diagnostic accuracy.

“Circle Cardiovascular Imaging is an example of a Canadian tech company that identified a need, built a strong core team with relevant experience, and executed well,” said Martin Vetter, General Partner and Director of Accelerate Fund. “We’re pleased to join BDC Capital, Epic Capital, many existing investors, and now GE healthcare, in support of Circle’s goals to improve cardiac care and patient outcomes.”

Circle plans to use the proceeds of the funding to build on its industry-leading platform and expand its commercial footprint.

To learn more about the Accelerate Fund, please visit www.AccelerateFund.ca.

Media Inquiries:
Accelerate Fund/AVAC Ltd.
Meghan Somers
The Agency
587.899.0615
meghan@theagencyinc.ca

About The Accelerate Fund:
The Accelerate Fund is an angel co-investment fund, managed by AVAC Ltd., which invests in promising Alberta technology companies. Investments are consistent with common venture capital investing practices, utilizing an array of equity and debt instruments. AVAC Ltd. performs due diligence, makes investment decisions, and provides ongoing support to portfolio companies on behalf of the Fund. In support of the funded companies, the Accelerate Fund Industry Committee, an advisory network managed by the A100, was designed to provide additional “hands-on” resources to the portfolio companies. Alberta Enterprise Corporation is the Accelerate Fund’s Limited Partner.

Photo courtesy of Circle Cardiovascular Imaging Inc