The Business Development Bank of Canada related stories
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Monteris Medical fetches $13.3 mlnWinnipeg, Manitoba and Kalamazo, Michigan-based Monteris Medical Inc has received a total of $13.3 million in equity and debt financing. BDC Venture Capital Healthcare Fund led the equity round, with additional participation from the SWMF Life Science Fund and other unnamed investors. Oxford Finance provided the debt financing. Monteris Medical is a medical device company that develops treatments for brain lesions. Update: The company has raised US$34.5 million in funding from Canadian and U.S. venture capital firms since 2001.
- Power of 'Made-in-Canada' buying instructive for SMEs
A new report by the Business Development Bank of Canada (BDC) has found that close to two-thirds of Canadian consumers have been motivated to buy locally in the past year. This is one of five major consumer trends that research indicated should be of interest to growth-oriented small and medium-sized enterprises (SMEs). The report also found that SMEs have tended to respond to demand for healthy, well-priced local products, but have given less attention to demand for online retail options.
- Venture capital’s glass ceiling
Canada’s venture capital industry today features a number of high-powered women occupying senior positions on the investment and executive teams of their firms. However, the presence of female VCs in the top ranks of their organizations might be more the exception than the rule, according to a new report produced by MaRS Data Catalyst, the research arm of Toronto-based innovation hub MaRS Discovery District.
- BDC leads $700k seed funding of app developer dashboard Tapstream
Vancouver, B.C.-based Tapstream Inc, a marketing dashboard for app developers, announced on its website blog that the company has secured $700,000 in seed-stage financing. The round was led by BDC Venture Capital, the venture investment arm of the Business Development Bank of Canada, with the participation of angel investors. Founded in 2012 by CEO Slaven Radic and CTO Ben Fox, Tapstream provides technology that helps app developers see which websites, emails, tweets or web ad units are driving users and visitors.
- Barry Hubich, Matthew Kellow take on new roles at BDC Subordinate Financing
BDC Subordinate Financing, the investment arm of Business Development Bank of Canada (BDC), has appointed Barry Hubich to the new position of vice president, subordinate financing, Western Canada, and Matthew Kellow to the position of managing director, subordinate financing, Prairies, peHUB Canada has learned. In these roles, they will have particular responsibilities for providing support to Western-based entrepreneurs. Prior to joining BDC in 2004, Hubich held various management positions at Canadian Imperial Bank of Commerce, while Kellow previously worked at Royal Bank of Canada and Toronto-Dominion Bank of Canada. BDC Subordinate Financing provides investments of between $250,000 and $20 million to Canadian small businesses.
- Rebooting healthcare – venture capital investing in life sciences takes a new direction
BDC Venture Capital Healthcare Fund recently launched The Healthy VC, a blog http://thehealthyvc.com/ intended to stimulate dialogue and debate about the fast-growing healthcare technology sector – and the opportunity it presents to venture capital firms and their entrepreneurial partners.
- Extreme Startups modifies tech accelerator program, introduces new leadership
Toronto-based Extreme Startups has redesigned its technology startup accelerator model from a singular 12-week cohort program to three integrated programs centered around a new founder development curriculum. The intention is to increase seed-stage funding opportunities for graduates. The firm also introduced its new managing director Marcus Daniels, a digital product entrepreneur and investor, and its new head of operations and learning Lauren Robinson. Extreme Startups' founding investors are BDC Venture Capital, Extreme Venture Partners, OMERS Ventues, Relay Ventures and Rho Canada Ventures.
- RANOVUS secures $11 mln financing from Canadian, European and U.S. venture firms
Ottawa-based RANOVUS Inc, a provider of multi-terabit interconnect solutions for the telecommunications and information technology sectors, has completed an $11 million round of financing. Funds were provided by a mix of Canadian, European and U.S. venture capital firms, including Azure Capital Partners, BDC Venture Capital, MaRS Investment Accelerator Fund, OMERS Ventures and T-Venture, the investment arm of Deutsche Telekom. Founded in February 2012, the company also has an office in San Jose, California.
- RANOVUS closes $11 mln financing round
RANOVUS Inc. has closed an $11 million round of financing from investors including Azure Capital Partners, OMERS Ventures, T-Venture, MaRS Investment Accelerator Fund and BDC Venture Capital. RANOVUS, which provides interconnect solutions for the telecom and information technology industries, was launched last year.
- Four Canadian venture partnerships awarded $50 mln in VCAP commitments
The federal Minister of Finance Jim Flaherty announced that four Canadian venture capital funds have been awarded a total of $50 million from the $400 million Venture Capital Action Plan (VCAP). The funds are: Summerhill Ventures II, managed by Toronto-based Summerhill Venture Partners, which received $15 million; CTI Life Sciences Fund II, managed by Montréal-based CTI Life Sciences Fund, which received $15 million; Real Ventures Fund III, managed by Montréal-based Real Ventures, which received $10 million; and Lumira Capital II, managed by Toronto-based Lumira Capital Corp, which received $10 million. Among the provisions of VCAP, which was introduced in January 2013, was to commit capital to "high-performing" funds with a substantial Canadian market presence.