BDC Capital becomes founding partner of Creative Destruction Lab

BDC Capital, an investment arm of the Business Development Bank of Canada (BDC), has entered into a three-year partnership with startup accelerator Creative Destruction Lab (CDL), an affiliate of the University of Toronto's Rotman School of Management. CDL graduates will now be eligible for BDC's convertible note investment program, which since 2012 has invested $13.2 million in 87 Canadian companies, with private investors putting up a further $38 million. Founded two years ago, CDL has generated more than $100 million in equity value and aims to reach $1 billion. In June, BDC partnered with Accel-Rx Health Sciences Accelerator to seed health sciences startups.

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