The Business Development Bank of Canada related stories
All articles and analysis
Randy Thompson named 2018 angel of the year by NACO, BDCThe National Angel Capital Organization (NACO) announced Randy Stewart Thompson, chairman and CEO of Valhalla Private Capital, has won the 2018 Canadian Angel of the Year Award. The award, sponsored by BDC Capital, recognizes an experienced angel who has made a significant contribution to the growth and development of angel investing in Canada. Thompson, who has been active as an angel, fund manager and company operator for 25 years, helped launch Calgary-based Valhalla in 2017. He oversees the investing of 100 angels and four funds with more than $30 million in deployed capital. Thompson has personally invested in 40 startups.
Breakthrough leads latest round of CO2 tech platform CarbonCureCarbonCure Technologies Inc, a Halifax-based carbon dioxide (CO2) utilization platform, has secured undisclosed financing. The round was led by Breakthrough Energy Ventures, a U.S.-based clean energy fund. It was joined by GreenSoil Building Innovation Fund as well as existing investors, including BDC Capital's ICE Venture Fund, Pangaea Ventures, 350 Capital, Innovacorp, Brightpath Capital Partners, Neo Ventures, Shaw Group, Power Generations and Carmanah Management. Founded in 2007 by CEO Rob Niven, CarbonCure develops CO2 utilization technologies for the concrete sector, helping to reduce concrete’s carbon footprint and create efficiencies. It will use the funds raised to grow its solutions portfolio and enter new markets.
GHGSat secures $13 mln in OGCI-led Series A2 financingGHGSat, a Montréal-based provider of global emissions monitoring services, has raised nearly $13 million (US$10 million) in a Series A2 financing. The round was led by U.K.-based OGCI Climate Investments. Other investors included Schlumberger, Space Angels and Business Development Bank of Canada (BDC). Founded in 2011 by CEO Stéphane Germain, GHGSat is focused on remote sensing of greenhouse gas and air quality gas emissions from industrial sites using satellite technology. The company, which has so far raised more than $26 million (US$20 million), including government financing, will use the latest funds raised to accelerate commercialization, expand its custom analytics services, and launch an additional satellite.
Beanworks nabs $10.1 mln in FINTOP, BDC-led Series B roundBeanworks, a Vancouver-based accounts payable automation company, has secured $10.1 million in a Series B financing. The round was led by U.S. venture capital firm FINTOP Capital alongside BDC Capital’s Women in Technology Venture Fund. They were joined by new and existing investors. As a result, BDC Capital's Michelle Scarborough and FINTOP's Joe Maxwell joined the board. Founded in 2012, Beanworks' cloud-based solution helps businesses streamline invoice-to-payment strategies by eliminating paperwork and reducing processing costs. Led by CEO Catherine Dahl, Beanworks will use the funds raised to enhance its platform, release an expense module, and expand into new markets.
Large share of Canadian SMEs face labour shortages: BDCA study by the Business Development Bank of Canada (BDC) found 39 percent of Canadian small and medium-sized enterprises (SMEs) face challenges finding new employees. The labour shortage, which is most acute in Atlantic Canada, British Columbia and Ontario, and in the manufacturing, retail trade and construction sectors, is not expected to improve for at least a decade. The study, based on a survey of 1,208 entrepreneurs, also found SMEs affected by labour shortages are 65 percent more likely to generate low sales. Among the strategies used to locate talent, SMEs were least likely to consider hiring immigrants.
BDC funds, advises 56k entrepreneurs, up 14 pct from last yearBusiness Development Bank of Canada (BDC) today provides financing and advisory services to 56,000 entrepreneurs, a record number and up 14 percent from last year, according to BDC's fiscal 2018 annual report. Capital managed by BDC Capital, the mezzanine, growth equity and venture capital investment arm of BDC, currently totals more than $3 billion, the report said. The mid-market portfolio of the Growth and Transition Capital division also reached a major milestone in fiscal 2018, exceeding $1 billion in investments. BDC reported earned consolidated net income of $818.3 million in fiscal 2018 as well as a payment of a $69.7 million dividend to the Canadian government.
BDC's WIT fund invests in four women-led tech companiesBDC Capital’s Women in Technology Venture Fund (WIT) has closed new investments in four women-led technology companies. The fund invested in AvenueHQ, a Vancouver real estate marketing software provider co-founded by COO Rebecca Troelstra; Lufa Farms, a Montréal developer of urban greenhouse facilities co-founded by Lauren Rathmell; Tealbook, a Toronto supplier intelligence provider to enterprises founded by CEO Stephany Lapierre, and; Unsplash, a Montréal free-for-use curated photo platform co-founded by Stephanie Liverani. The $200 million WIT fund has so far invested in 14 women-led companies.
LISTEN: Private equity in a downturn – the LP viewHow will the next downturn affect private equity? Hamilton Lane's Jim Strang discusses the risks investors face.
Worksite software provider Focus FS raises $1.4 mln, BDC investsFocus FS, a software-as-a-service platform for safer, smarter worksites, has raised $1.4 million in financing. The round was backed by an $800,000 quasi-equity investment made by BDC Capital's Growth and Transition Capital, with additional funding coming from private and strategic sources. Founded in 2012, St. John's, Newfoundland and Labrador-based Focus FS has developed a cloud-based safety management suite to help industrial worksites gain efficiencies and lessen risk to allow projects to run smoothly. Led by CEO Jeff Brown, the company will use the funds raised to further invest in sales and marketing in key North American and global markets.
Ottawa’s $400 mln VCCI commits to five funds-of-funds managersThe federal government's Venture Capital Catalyst Initiative (VCCI) has completed its first round of investments, backing five funds-of-funds managers. They include managers backed by VCCI’s predecessor, the Venture Capital Action Plan. They are: HarbourVest Partners, Kensington Capital Partners, Northleaf Capital Partners and Teralys Capital. U.S.-based manager Hamilton Lane also secured a commitment. Funds-of-funds commitments, totalling $350 million of VCCI's $400 million pool, mark the program's Stream 1 /canada/2017/12/ottawas-400-mln-vc-blueprint-eyes-late-stage-ventures-gender-disparity/ which focuses on capitalizing Canadian venture capital funds, including those investing in late-stage opportunities. Stream 2 /canada/2017/12/ottawas-400-mln-vc-blueprint-eyes-late-stage-ventures-gender-disparity/ will commit $50 million to key market gaps.