The Business Development Bank of Canada related stories
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Caisse de dépôt and BDC invest $17.5 mln in Québec chicken processorCanadian pension fund manager the Caisse de dépôt et placement du Québec and the Business Development Bank of Canada (BDC) have together invested $17.5 million in Sunchef Foods Inc. The Caisse is contributing $10 million to the deal, while BDC is contributing $7.5 million. Founded in 1996, the Montréal-based company is focused on the chicken processing industry. Investment proceeds will assist Sunchef in completing its Anjou plant expansion and diversifying its product lines for the retail and food services markets.
VC consortium led by iGan Partners invests in research enabler SciencescapeCanadian venture capital firm iGan Partners has led the financing of Sciencescape, a Toronto-based technology platform that helps academics and researchers discover and organize publications and related work in their fields, with an initial focus on the biomedical sector. The investment's value was not published. Other participants in the deal included BDC Venture Capital, Extreme Startups, and a number of angel investors. Funding will be used to further develop Sciencescape's platform, which was recently released in beta form, and for sales and marketing initiatives. Led by co-founder and CEO Sam Molyneux, the company was launched last year.
McRock Capital announces initial close of $50 mln industrial Internet fundCanadian venture capital firm McRock Capital has announced the initial close of its $50 million industrial Internet partnership, McRock iNFund LP. Capital committed was led by BDC Venture Capital with the participation of Canadian and U.S. institutional investors and family offices. The fund closing follows McRock's announcement /canada/2013/11/18/mcrock-capital-partners-ge-capital-advance-industrial-internet/ last month of a strategic partnership with GE Canada to help introduce a higher degree of connectivity and analytics of the digital world to resource sectors. Based in Toronto, McRock invests in Canadian and U.S.-based companies that are targeting large industrial markets looking to maximize efficiency by making their machines, equipment and devices run more intelligently.
Toronto-based McRock Capital closes $50 mln for industrial internet fundToronto-based investment firm McRock Capital has raised $50 million in the first close for its industrial internet VC fund. Investors include BDC Venture Capital and "significant" Canadian and U.S. institutional investors and family offices.
Halifax log data platform topLog seeded with $400k by Innovacorp and BDCHalifax, Nova Scotia-based topLog, a technology company that turns log data into actionable intelligence, has received $400,000 in seed-stage financing. Canadian venture capital firm Innovacorp led the round with a $250,000 investment, and was joined by BDC Venture Capital, which invested another $150,000 after the company’s graduation from the Launch 36 accelerator program. Funding proceeds will allow topLog to fine tune its data log analyzing platform. Founded this year, the company is currently doing closed trials with select clients, with public beta expected to be available in February 2014.
BDC Capital leads $3.5 mln Series B financing of CarbonCureCarbonCure Technologies Inc, a Halifax, Nova Scotia-based developer of clean technologies that convert waste CO2 into stone within concrete, has secured a $3.5 million Series B funding round. The deal was led by BDC Venture Capital Energy-Cleantech Fund, with the participation of Eagle Cliff Partners, Innovacorp, 350 Capital, and several strategic investors. Proceeds of the investment will go toward accelerating the company’s technology growth, and further increasing its customer base across North America. Tony Van Bommel, senior managing partner with the BDC Venture Capital Energy-Cleantech Fund, was recently added to CarbonCure’s board of directors. Founded in 2007, CarbonCure has been venture-backed since 2011.
- Nova Scotia-based CarbonCure garners $3.5 mln in Series B funds
CarbonCure Technologies has raised $3.5 million in Series B financing. BDC Venture Capital led the round with participation from Eagle Cliff Partners, Innovacorp and 350 Capital. According to the company, the capital infusion will be used for expansion. Based in Halifax, Nova Scotia, CarbonCure develops clean technologies that convert waste CO2 into stone within concrete.
BDC commits $3 mln to new consumer products venture BrandProjectBDC Venture Capital has made a $3 million commitment to BrandProject LP, a venture capital fund that invests in early-stage consumer products and technology companies. With offices in Toronto and New York, the fund makes equity investments in disruptive Internet-enabled consumer products and consumer services businesses across North America. Founded in 2012, BrandProject, which completed a first close of $12 million in Aug. 2013 with the backing of angel investors, builds on the record of Blackpoynt Brand Ventures, a firm focused on creating value and growing branded consumer businesses. Both BrandProject and Blackpoynt were founded by Andrew Black, who was previously president and CEO of Virgin Mobile Canada.
- Ecommerce platform Beyond the Rack snags $25 mln
Montreal-based ecommerce platform Beyond the Rack has raised $25 million in funding. Investissement Quebec, Iris Capital and Tandem Expansion Fund led the round with participation from existing investors Highland Capital Partners, Panorama Capital, BDC Venture Capital IT Fund and iNovia Capital. Also, Tandem Expansion's Alex Moorhead will join Beyond the Rack's board of directors.
E-commerce platform Beyond the Rack nets $25 mln in additional financingBeyond the Rack, a Montréal-based online shopping club for designer brand apparel, accessories, beauty, and home decor products at up to 80% off retail, has secured a new financing round totaling $25 million. The round was led by Investissement Québec, Iris Capital and Tandem Expansion Fund, and included the participation of current investors Highland Capital Partners, Panorama Capital, BDC Venture Capital IT Fund and iNovia Capital. Proceeds of the investment will be used to further accelerate strategies for long-term growth of the company and its active customer base. Founded in 2009, Beyond the Rack has raised close to $109 million in venture capital funding since 2010.