The Business Development Bank of Canada related stories
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Saskatchewan's Joel Pinel Wins BDC's Young Entrepreneur AwardJoel Pinel, the owner of Moosejaw, Saskatchewan-based WOW Factor Media, a print media design and marketing company, has won the 2013 BDC Young Entrepreneur Award, sponsored by the Business Development Bank of Canada. The award, which comes with a $100,000 grand prize, was won by Pinel for his Equipment Edge project. The public selected the winning project from among nine finalists through online voting.
- EnerTech Gets BDC Commitment, Opens Montréal and Calgary Offices
Energy technology-focused venture capital firm EnerTech Capital Partners has received a US$20 million commitment from BDC Venture Capital, which will go towards EnerTech Capital Partners IV (Canada) LP. Other fund investors include Teralys Capital, Alberta Enterprise Corp. and Export Development Canada. EnerTech, which is expected to earmark US$50 million of its targeted US$150 million partnership for investments in Canada, has also opened new offices in Montréal and Calgary. The firm already has offices in Toronto and Conshohocken, Pennsylvania.
- BDC Invests in OSF Global Services
OSF Global Services Inc., a Québec City-based provider of application development and technology integration solutions, has received a growth investment from the Business Development Bank of Canada. The financial details of the transaction were not published. Founded in 2003, the company also has offices in Woburn, Massachusetts and across Europe.
- BDC and the Caisse Invest $12M in Revision Military
Montréal-based Revision Military Inc., a developer and manufacturer of ballistic eyewear, head protection systems and other protective equipment designed for military and tactical use, has received a $12 million joint investment from the Business Development Bank of Canada and the Caisse de dépôt et placement du Québec. The company, which has clients in the Canadian, American, British, German and Swiss armed forces, operates three production plants in Canada and the United States.
- GO and BDC Lead $2.5M Financing of LeddarTech
Québec City-based LeddarTech Inc., a developer of 3D detection technology for traffic management, has completed a $2.5 million round of financing led by Canadian venture capital firms GO Capital and BDC Venture Capital, and including participation from iSource, Accès Capital and Desjardins-Innovatech. LeddarTech first received venture financing in 2007, though the company's investors were not disclosed.
- Auvik Networks Secures $6M in First-Time VC Funding
Kitchener, Ontario-based Auvik Networks Inc., an enterprise networking start-up, has obtained its first round of venture capital financing, totaling $6 million, from Canadian firms Celtic House Venture Partners, Rho Canada Ventures and BDC Venture Capital IT Fund. The company founders, which include serial entrepreneur Marc Morin, the founder of previously venture-backed PixStream and Sandvine, also contributed to the round. Auvik will use the new funds to accelerate development and commercialization of its cloud-managed network automation platform.
- New Atlantic-Based Tech Investor Build Ventures Launched
A new Atlantic Canada-based venture capital firm, Build Ventures, has been launched with an initial partnership totaling $48.5 million. Limited partners to date include BDC Venture Capital, several provincial governments, and the Moncton-based Technology Venture Corp. The Halifax-based Build Ventures will focus on making early stage and Series A investments in regional technology companies, and will be managed by Patrick Keefe, formerly with venture capital firm Innovacorp, and Rob Barbara, formerly with Burgundy Asset Management.
- Montréal's Human Equation Nabs $1M in Funding
Montréal's Human Equation Inc., a digital marketing company, has received $1 million in funding from the Business Development Bank of Canada, Societe de developpement economique Ville-Marie and Finalta Capital. Proceeds will facilitate the company's growth, including through strategic acquisitions, and commercialization of its cyber-investigation platform Echo Alpha.
- BDC and DFAIT to Expand US-Based Canadian Tech Accelerators
BDC Venture Capital is partnering with the Department of Foreign Affairs and International Trade to expand the Canadian Technology Accelerator (CTA) program in the United States. The partnership will enable development of new accelerators in Boston, New York, San Francisco and Philadelphia. Since 2009, US-based CTAs have hosted Canadian technology entrepreneurs and companies, providing mentoring and networking opportunities, as well as opportunities to pitch products to potential American clients, strategic partners and financiers.
- Stonebridge Targets $300M for Second Infrastructure Debt Fund
On the heels of closing Stonebridge Infrastructure Debt Fund I LP at over $200 million in early 2013, Stonebridge Financial Corp., a financial services company with offices in Toronto and Montréal, recently launched Stonebridge Infrastructure Debt Fund II LP. The second partnership, which will provide private debt financing for the construction and operation of social and energy infrastructure assets, is targeted at around $300 million. An initial closing is scheduled for December 2013.