The Business Development Bank of Canada related stories
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Luxury goods retailer LXR & Co launches in Canada, assisted by $1.5 mln funding from BDCMontréal-based LXR & Co, an e-commerce specialist in vintage luxury products, made its Canadian launch with the help of a $1.5 million investment from the Business Development Bank of Canada (BDC). Founded earlier this year, the company features an online platform LXRco.com, which is currently operational in a dozen countries and has a boutique in Beverly Hills. BDC funding was provided to parent company LXR Canada, a wholesaler of vintage products in North America, and will be utilized for operational development.
- Montréal's Modulis nets $400k to advance cloud-based telecom platform
Montréal-based Modulis, a provider of turnkey VoIP services and solutions, has received $400,000 in financing from Business Development Bank of Canada, Investissement Québec and the National Bank. The funding is intended to help develop the company's cloud-computing VoIP telecommunications platform. Founded in 2006, Modulis has more than 10,000 users connected to its Asterisk-based infrastructure in North America and Europe.
- BDC Venture Capital earmarks additional $135 mln for healthcare investing
BDC Venture Capital, the investment arm of the Business Development Bank of Canada, has allocated $135 million in new capital to direct investments in innovative healthcare companies. That brings BDC's total direct commitment to the sector to $270 million. BDC Venture Capital Healthcare Fund will continue to spearhead this activity, investing in Canadian companies in such fields as innovative therapeutics and medical technology, diagnostics, health IT, mobile technologies and services, as well as robotics and automation. Life sciences companies backed by the fund's team include Cytochroma, ViroChem, OncoGeneX, Gemin X and Tekmira.
- EnerTech Capital closes fourth venture fund at $120 mln
EnerTech Capital has raised just under $120 million for its fourth venture fund. Investors in the fund, which is named EnerTech Capital Partners IV LP, include Alberta Enterprise, Export Development Canada, Teralys Capital, Business Development Bank of Canada, Southern UTE and the State of Maryland. The partnership will be used by the firm to continue to make investments in the energy technologies sector. Update: One of Enertech's 2013 investments was Distech Controls Inc., a Brossard, Québec-based developer of building energy management solutions. The firm has offices in Toronto, Philadelphia, Montréal and Calgary.
- C100UK announces list of startups participating in debut "48 hours in London"
C100K, the London, U.K.-based organization established to support Canadian entrepreneurship, has announced the final list of company startups attending its first ever "48 Hours in London" on Sept. 25-26, 2013. They are: CmaeOn, Jostle, Wifarer, Datacratic, Ooomf, Beaucoo, Mobovivo, Gnowit, BusBud and FundRazr. The upcoming event, which will bring together Canadian startups with "the cream" of the U.K.'s technology and venture capital sectors, is modeled after "48 Hours in the Valley," the flagship program of the affiliated Silicon Valley-based C100.
- Sanderling Ventures Raises US$30 Million for Canadian Fund from BDC & FTQ
The Business Development Bank of Canada and the Fonds de solidarité FTQ have announced today that they have made a US$30 million commitment to Sanderling Ventures in conjunction with its Fund IV, a life sciences fund with a target of US $250 million. The investment from BDC and FTQ will be placed in a Canadian side fund, with Sanderling creating a permanent facility for the development of early-stage life science companies and co-investment opportunities in Montréal.
- BDC Credits Active Fiscal 2013 to More Demand From Canadian SMEs
The Business Development Bank of Canada (BDC) attributes recent high levels of activity in its venture capital, subordinate financing and other divisions to increased demand from small and medium-sized businesses. During fiscal 2013 ending March 31, BDC authorized $145.3 million in venture capital investments, and provided clients with $4.3 billion in loans and subordinate financing. In the same period, BDC paid a dividend of $68.6 million to its sole shareholder, the Canadian government. It plans to make an additional payment of $59.6 million in fiscal 2014.
- Intelligent Imaging Systems and Drivewyze Score $7.5M in Series A Financing
Intelligent Imaging Systems (IIS) and its subsidiary, Drivewyze, said Thursday that it has received US$7.5 million in Series A financing. Emergence Capital Partners and iNovia Capital led the round. The funding will be used for product development in addition to sales and marketing expansion. Headquartered in Edmonton, Alberta and Burlingame, Calif., IIS and Drivewyze are providers of transportation technology. Update: IIS and Drivewyze were previously backed by BDC Subordinate Financing, the quasi-equity investment arm of the Business Development Bank of Canada.
- BDC Commits $5M to Montréal Incubator TandemLaunch
Montréal-based TandemLaunch, an accelerator and investor in emerging consumer electronics and multimedia technologies, has received a $5 million commitment from BDC Venture Capital. BDC's commitment has been matched by an additional $5 million from angels and strategic advisors. TandemLaunch is aiming for a final closing of $15 million from both institutional and private sources. The firm already has five portfolio companies, including 3LD Noise Reduction and Mirametrix.
- BDC Puts $1.5M to Work in Technology Accelerator Grads
BDC Venture Capital has committed $1.5 million to 10 Canadian companies that have graduated from technology accelerators, including for the first time New Brunswick's LauncH36. Companies seeded by BDC with $150,000 are: pricing and risk management software company AnalyzeRE; accounts payable automation provider BeanEvo; modern crafts platform BRIKA; job applicants screening company Cream.hr; app testing platform Dandy; link and content sharing provider Groupnotes; live audio platform Instaradio; online vitamins retailer Koge; e-commerce website enabler RUMAnalytics and; medical imaging company ViewsIQ.