AVAC Accelerate Fund invests in MDT Ltd

AVAC Ltd's Accelerate Fund has made a co-investment in Edmonton-based Mobile Data Technologies Ltd (MDT) to facilitate its product offerings and marketing of mobile stimulation equipment in the oil and gas sector. The investment is made through ACAC's new Accelerate Fund (AF), which co-invests in early-stage start-up with angel investors (R$, July 30/13). MDT designs and builds data acquisition and control systems for pressure trucks, hot oilers, frac pumpers, coiled tubing units and other equipment used in the oil and gas sector. It has established a Texas facility to support its expansion in the US market and has already made several local and overseas sales. AF investments can be made with various equity or debt instruments and are consistent common venture capital investment practices….