The Business Development Bank of Canada related stories
All articles and analysis
Terramera raises $13 mln from BDC's cleantech practiceVancouver-based clean food technology provider Terramera has secured $13 million in subordinated debt financing from Business Development Bank of Canada (BDC). BDC invested through Ottawa’s $700 million clean technology strategy, announced last year /canada/2018/01/ottawa-invest-700-mln-cleantech-sectors-bdc/ Terramera will use the proceeds for facilities, equipment and staffing to develop and commercialize its technologies, which focus on plant-based replacements for synthetic chemical pesticides and fertilizers to increase agricultural yields. Terramera, founded in 2010 by CEO Karn Manhas, raised an investment /canada/2016/09/3360185/ in 2016 from IKEA Group's venture capital arm.
Sampler secures $3 mln in latest round, BDC, Shipfusion leadSampler, a Toronto-based digital product sampling platform, has raised $3 million in its latest financing. The round, which brings total funding to $6.3 million, was led by BDC Capital’s Women in Technology Fund and Shipfusion Inc, a U.S. e-commerce fulfillment business. They were joined by new investors Factory LLC and StandUp Ventures and existing investors, including Freycinet Ventures and MaRS Investment Accelerator Fund. Founded in 2013 by CEO Marie Chevrier, Sampler provides technology that helps consumer packaged goods brands deliver physical samples to digitally-targeted consumers. The company will use the funds raised to expand its sales, marketing and product team.
BDC invests $8 mln in advanced materials maker EquispheresBusiness Development Bank of Canada (BDC) has invested $8 million in Equispheres, an Ottawa-based advanced materials provider. BDC invested through the federal government's $700 million clean technology strategy, announced last year /canada/2018/01/ottawa-invest-700-mln-cleantech-sectors-bdc/ Founded in 2015, Equispheres has developed technology for making high-performance spherical metal powders for additive manufacturing applications. The solution helps reduce fuel consumption and production waste. Led by President and CEO Kevin Nicholds, the company will use the investment's proceeds to execute on its growth plan and meet demand in the aerospace and automotive sectors.
BDC Capital invests $1 mln in Celtic House-backed NuvyyoBDC Capital has provided $1 million of mezzanine financing to Nuvyyo, the Ottawa-based maker of digital video recorder brand Tablo. BDC invested through its growth and transition capital group. Founded in 2010 by CEO Grant Hall, Nuvyyo developed Tablo to enable users to record and stream over-the-air television programming without a cable subscription. The company will use the loan's proceeds as working capital to support growth initiatives, including meeting U.S. demand for Tablo and increasing R&D to generate new products. In 2013, Nuvyyo raised a $4 million Series A financing from Canadian venture capital firm Celtic House Venture Partners.
- BDC, Chevron top up Inventys’ Series C round to $16 mln
Inventys, a Vancouver-based carbon technology company, has raised $5 million from BDC’s cleantech practice as well as a follow-on investment from Chevron Technology Ventures. The investments add to the Series C financing raised by Inventys in 2018, bringing the total to about $16 million. The round’s first tranche was led by OGCI Climate Investments. The company said it is planning for a final close of about $21 million before the end of June.
- BDC, Chevron top up Inventys' Series C round to $21 mln
Inventys, a Vancouver-based carbon technology company, has raised about $6.6 million (US$5 million) from BDC’s cleantech practice as well as a follow-on investment from Chevron Technology Ventures. The investments add to the Series C financing https://admin.venturecapitaljournal.com/canada/2018/07/inventys-raises-initial-14-5-mln-of-planned-series-c-financing/ raised by Inventys in 2018, bringing the total to about $21 million (US$16 million). The round’s first tranche was led by OGCI Climate Investments. The company said it is planning for a final close of about $28 million (US$21 million) before the end of June. The funds raised will help Inventys complete and commercialize a CO₂ capture demonstration plant project with Husky Energy Inc.
- Framework Venture Partners launches $150 mln debut fund
Framework Venture Partners, a new Canadian venture capital firm, has launched with the first close of its debut fund. Targeted to raise $150 million, FVP I secured undisclosed commitments from BDC Capital, Ontario Teachers' Pension Plan's Cadillac Fairview, RBC and BC Tech Fund, managed by Kensington Capital Partners. The Globe and Mail reports https://www.theglobeandmail.com/business/article-cadillac-fairview-anchors-new-150-million-tech-fund-spun-out-of-bdc/ the fund raised an initial $100 million. FVP I will focus on late-stage financings of Canadian business-to-business SaaS companies applying machine learning techniques to industry-specific data sets or reimagining the consumption and delivery of financial services. Based in Toronto and Vancouver, Framework is led by Founding Partners Peter Misek and Andrew Lugsdin, formerly members of BDC IT Venture Fund.
- VC investing in Canadian tech companies soars to $4.3 bln in 2018
Venture capital (VC) investment in Canadian technology companies surged in Q4 2018, with $1.2 billion deployed, representing the strongest fourth quarter in nearly two decades, according to final data released by Refinitiv. In 2018 as whole, a total of $4.3 billion was invested in 489 rounds, the strongest year since 2000. U.S. VC funds played a key role in the Canadian market last year, accounting for 47 percent of the total invested, while domestic VC funds accounted for a 44 percent share. Information technology sectors remained the main driver of VC trends in 2018, securing $3 billion, while clean technology sectors took $569 million, largely thanks to Enerkem, the market's top deal.
- Ottawa’s VCCI earmarks $50 mln for cleantech VC financing
The federal government’s Venture Capital Catalyst Initiative (VCCI) has committed $50 million to venture capital financing for Canadian clean technology companies. The funding represents Stream 3 of the program, announced in 2017 https://admin.venturecapitaljournal.com/canada/2017/12/ottawas-400-mln-vc-blueprint-eyes-late-stage-ventures-gender-disparity/ to shore up venture capital supply in Canada. Applicants are invited to submit an application by March 1, 2019. VCCI, managed by BDC Capital, has previously committed $350 million https://admin.venturecapitaljournal.com/canada/2018/06/ottawas-400-mln-vcci-commits-to-five-funds-of-funds-managers/ to five fund-of-funds managers and $50 million https://admin.venturecapitaljournal.com/canada/2018/11/ottawas-vcci-commits-50-mln-to-seven-innovative-vc-firms/ to seven venture capital firms as part of its strategy. Last year, Ottawa created a $700 million fund https://admin.venturecapitaljournal.com/canada/2018/01/ottawa-invest-700-mln-cleantech-sectors-bdc/ also managed by BDC, to support the growth plans of Canadian clean technology companies.
- Cleantech investor Ecofuel Fund holds $40.6 mln second close
Ecofuel Fund, a seed fund affiliated with Canadian clean technology venture capital firm Cycle Capital Management, has secured $40.6 million in a second close. The fund raised an additional $10.6 million in commitments. Investors in the initial and second closes included BDC Capital, CRIBIQ, Desjardins Capital, Fonds de solidarité FTQ, Fondaction and Investissement Québec. Ecofuel Fund, overseen by Managing Partners Richard Cloutier and Johanne Sévigny, will maintain its strategy of investing in clean technology startups located in Québec and Eastern Canada. Since 2017, it has backed 12 companies, including seven pre-seed deals as part of Ecofuel Accelerator.