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BDC, GrowthWorks win CVCA's 2014 VC deal of the yearBDC Venture Capital and GrowthWorks have received the 2014 "Deal of the Year" award in the venture capital category from Canada’s Venture Capital & Private Equity Association. They won for their return on investment in Layer 7 Technologies Inc, a Vancouver-based provider of application programming interface management and security bought /canada/2013/06/05/ca-technologies-completes-buy-vc-backed-layer-7/ by CA Technologies Inc in 2013. On their investment, BDC and GrowthWorks have realized cash proceeds of US$78 million to date. The multiple of capital on the original investment on a cash realized basis is 4.4x, or a 23.2% IRR, and is expected to be 5.2x on a total basis once all proceeds are released from escrow, for a 25.6% IRR.
Venture-backed Chaordix buys Colorado crowdsourcing platformChaordix Inc has acquired Napkin Labs for an undisclosed amount. Based in Boulder, Colorado, Napkin Labs is a crowdsourcing technology company. Chaordix, which uses the power of crowdsourcing to help enterprises gain community engagement and predictive intelligence, said the deal will bring a new level of sophistication to its platform. Founded in 2009 and based in Calgary, Chaordix has been a portfolio investment of Canadian venture capital firm Yaletown Venture Partners and the Business Development Bank of Canada (BDC) since 2012. Napkin Labs has also been backed by venture capital and angel investors.
BDC, BMO invest $22 mln to develop BlackBridge's next generation of satellitesBlackBridge Group, a provider of end-to-end technology and services across the geospatial value chain, has secured $22 million in funding. The investors are BDC Subordinate Financing, an investment arm of the Business Development Bank of Canada, and the Bank of Montreal. Proceeds will be used for the development of the company's next generation of satellites, RapidEye+, and for the renewal of existing credit facilities. Based in Lethbridge, Alberta, BlackBridge in 2011 acquired its German competitor RapidEye AG. BDC Subordinate Financing provides quasi-equity investments to small and medium-sized businesses in Canada.
Alberta entrepreneur Ryan Jackson wins first ever BDC mentorship awardThe Business Development Bank of Canada (BDC) and the Canadian Business Youth Foundation have announced that Alberta's Ryan Jackson is the inaugural winner of the 2014 BDC Mentorship Award. Jackson is the principal and managing director of RAMECO Consulting Group and the former Entrepreneur in Residence at Medicine Hat College. The BDC Mentorship Award is one of four new awards launched by BDC this year to promote and recognize Canadian entrepreneurs in four key areas: mentorship, innovation, resiliency and entrepreneurship champion.
BDC, Marzio Pozzuoli, seed ShoeBox to advance online photo storageToronto-based startup Shoebox, formerly known as MyShoeBox, has secured $1.2 million in seed-stage funding. Earlier reports http://techcrunch.com/2014/04/30/shoebox-raises-1-2m-to-not-only-store-your-photos-in-the-cloud-but-help-you-rediscover-them-too/ of the deal were confirmed with peHUB Canada by Robert Simon, senior managing partner of BDC IT Venture Fund. Simon said BDC led the round and was joined by Canadian angel investor Marzio Pozzuoli, past president and CEO of venture-backed communications equipment maker RuggedCom. Founded in 2012, Shoebox is the creator of a photo storage app and is a graduate of Extreme Startups' acceleration program.
Top 10 postsTrending on peHUB this week: Sun Capital, Riverstone, Carlyle, ERS, State Street, Fortress, NYC Comptroller, TPG, Jerome Nycz, General Atlantic, Golden Gate, Vista Equity.
BDC's Jérôme Nycz talks about a new approach to venture capitalThe Business Development Bank of Canada (BDC) three years ago embarked on a new venture capital strategy that has placed it at the centre of many key trends now taking place in the Canadian market — the introduction of VCAP, improving fund-raising conditions, growth in angel and accelerator communities, and the emergence of more high-growth startups. Jérôme Nycz is BDC's executive vice-president of subordinate financing and venture capital. Last week, Jérôme gave a speech to the Research Money Conference about the rapidly changing face of the Canadian VC landscape and the role that the new BDC is playing in this regard.
BDC and TMA to recognize successful Canadian business turnaroundsThe Business Development Bank of Canada (BDC) has partnered with the Montréal chapter of the Turnaround Management Association to launch the BDC Entrepreneurial Resiliency Award. The award is intended to recognize a Canadian company that has bounced back successfully after undergoing a turnaround or other major transitional event. Nominations are open until June 20, and the winner will be announced in September. The resiliency award is one of four new entrepreneurship awards that BDC is unveiling /canada/2014/01/22/bdc-to-award-mentors-innovation-resiliency-and-serial-entrepreneurs/ this year. BDC offers risk financing and consulting services to more than 28,000 small and medium-sized companies.
BDC and Canadian Youth Business Foundation announce finalists for the BDC Mentorship AwardThe Business Development Bank of Canada and the Canadian Youth Business Foundation this week announced the regional finalists for the 2014 BDC Mentorship Award, the recipient of which will be announced on May 14 at the CYBF's Growing Young Enterprise Canadian Summit. The Canadian Youth Business Foundation is a national non-profit organization dedicated to growing Canada’s economy through the mentoring and financial support of young entrepreneurs.
- BDC and Canadian Youth Business Foundation announce finalists for the BDC Mentorship Award
The Business Development Bank of Canada and the Canadian Youth Business Foundation this week announced the regional finalists for the 2014 BDC Mentorship Award, the recipient of which will be announced on May 14 at the CYBF's Growing Young Enterprise Canadian Summit. The Canadian Youth Business Foundation is a national non-profit organization dedicated to growing Canada’s economy through the mentoring and financial support of young entrepreneurs.