The Business Development Bank of Canada related stories
All articles and analysis
Acuva Technologies raises $850,000Acuva Technologies Inc said April 11 that the company has closed its first seed round at $850,000. Investors include Vancouver-based angel investors, the entrepreneurship@UBC ("e@UBC") Seed Fund and BDC Capital. Acuva, of Vancouver, British Columbia, provides water purification systems using UltraViolet Light Emitting Diode.
Clearwater, Gymtrack net up to $4.4 mln from angels, BDC, FedDevTwo Ottawa-based startups, Clearwater Clinical Inc and Gymtrack Inc, have secured $650,000 and $805,000, respectively, from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). FedDev said the investment will leverage up to $2.95 million in additional funding from BDC Capital and angel investors. Clearwater, a developer of mobile medical devices, in late 2014 raised $2 million in a round /canada/2014/11/bdc-capital-leads-2-mln-funding-of-mobile-medicine-platform-clearwater/ led by BDC Capital Healthcare Fund. Gymtrack, an exercise planning and coaching software provider, last year raised $2.5 million in a round /canada/2015/2/real-ventures-white-star-capital-lead-2-5-mln-seed-funding-of-gymtrack/ led by White Star Capital and Real Ventures.
CDPQ, CCPME and BDC invest $15 mln in DERYtelecom MBOThe Caisse de dépôt et placement du Québec (CDPQ), Capital croissance PME (CCPME) and BDC Capital have invested $15 million in DERYtelecom, a Saguenay, Québec-based provider of digital and HD television, high-speed Internet access, and residential phone services to local communities. The subordinated debt funding will support a transfer of the company's ownership to a new management team. It will also support several of DERYtelecom's growth projects. CCPME is a private equity fund jointly capitalized by CDPQ and Capital régional et coopératif Desjardins.
BDC Capital to partner in festivals for VC ecosystem playersCanadian venture capital firm BDC Capital has agreed to partner with Startupfest in a series of festivals. Held in the Startupfest village in Montréal's Old Port, the events will aim to share knowledge and best practices, expand networks, and enhance collaboration between key players in the venture capital ecosystem. These will include startup founders, venture capital funds, angel investors and accelerators. The festivals will take place on July 13th.
- HarbourVest Canada Growth Fund closes on C$375m
The fund was oversubscribed and closed on its target under a year after its final closing.
VCAP funds raised $1.35 bln, $900 mln from private LPs: BDCThe Business Development Bank of Canada (BDC) said the Venture Capital Action Plan (VCAP) has achieved its goal of launching four privately-managed funds of funds with a total of $1.35 billion under management. BDC, which helped implement VCAP, said the milestone was reached with the final close /canada/2016/4/3324421/ of HarbourVest Canada Growth Fund, which followed earlier closes /canada/2016/3/oversubscribed-teralys-fund-close-brings-vcap-fundraising-to-1-3-bln/ by Teralys Capital Innovation Fund, Kensington Venture Fund and Northleaf Venture Catalyst Fund. VCAP, established three years ago to encourage private sector participation in Canada's venture capital market, succeeded in leveraging $900 million from corporate, institutional and other private limited partners, BDC said.
BDC Capital helps top up Wave's Series C round to $22.1 mlnCanadian venture capital firm BDC Capital has invested $6.7 million in Wave, a Toronto-based provider of online financial tools for small businesses. The money came from BDC Capital's IT Venture Fund II, launched at $150 million last month /canada/2016/2/bdc-capital-launches-150-mln-fund-to-tackle-mid-stage-financing-gap/ and was led by newly-appointed Partner Peter Misek, who will join Wave's board. The investment adds to the company's Series C financing, announced last May /canada/2015/5/wave-nabs-10-mln-series-c/ which now totals $22.1 million. Charles River Ventures, OMERS Ventures, The Social+Capital Partnership, and an unidentified strategic investor also invested in the round. Founded in 2010, Wave plans to use all Series C funds raised to invest in innovation and development of its suite of tools.
BDC Capital, other VCs invest in growth of Circle CardiovascularCircle Cardiovascular Imaging Inc, a Canadian developer and marketer of cardiac-image analytical software, has secured an undisclosed follow-on financing. Existing and new investors in the round included BDC Capital Healthcare Venture Fund, an affiliate of BDC Capital, healthcare investor Epic Capital Management and The Accelerate Fund, an early-stage fund managed by AVAC. Calgary-based Circle said the funds raised will be used to support its global expansion, which was recently given impetus by a licensing and distribution partnership with GE Healthcare. Circle obtained $3.9 million in a round backed by BDC, Foundation Equity and other investors in July 2011.
Librestream Technologies raises $11 mln in Emerald-led roundLibrestream Technologies Inc has secured $11 million in financing. Emerald Technology Ventures led the round and was joined by BDC Capital and other investors. Based in Winnipeg, Librestream provides mobile video collaboration solutions to energy, field service, manufacturing, and public sector industries. Its Onsight platform is deployed on over 10 million devices worldwide. Librestream said it would use the round's proceeds to advance growth plans through the addition of sales and marketing resources and acceleration of the product road-map. With the investment, Emerald's Charles Vaslet and BDC's Geoff Catherwood have joined the company's board of directors.
- Librestream raises $8.2 mln
Librestream said Tuesday it raised C$11 million ($8.2 million) in financing led by Emerald Technology Ventures. BDC Capital's Industrial, Clean and Energy Venture Fund also invested. Librestream, of Canada, develops mobile video collaboration solutions for energy, field service, manufacturing, and public sector industries.