BDC Capital launches $150 mln IT fund to fill mid-stage financing gap
BDC Capital has launched its second information technology venture fund, IT Venture Fund II, sized at $150 million. The fund, which brings capital managed by the BDC Capital IT Venture Fund group to $300 million, will be focused on Series A and B financings of mature startups that "have a product in market and are already generating revenues from customers,” Managing Partner Robert Simon said. The fund will thereby help address a mid-stage financing gap now facing Canadian software companies, Simon said. Fund II, which will continue to lead most of its deals and leverage syndicate partners, has already made 11 investments. They include online retailer Cymax, which raised US$25 million last October.
17 February 2016•3 mins read
