The Business Development Bank of Canada related stories
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BDC Backs Entrepreneurial Hub in MontréalBusiness Development Bank of Canada (BDC) has provided financial support to Notman House, a collaborative hub in which Montréal entrepreneurs building high-tech companies can share knowledge, exchange ideas and build collaborative networks. As part of its sponsorship of OSMO Foundation, BDC will initially commit $325,000 to Notman House, to be followed by an additional $100,000 in commitments over the next four years.
- Monteris Medical Adds $7.8M
Winnipeg, Manitoba and Kalamazo, Michigan-based Monteris Medical Inc. has closed on US$7.8 million in new financing. BDC Health Venture Fund, managed by the Business Development Bank of Canada, led the round, with participation from the SWMF Life Science Fund, and several unnamed investors. The total funding raised in 2012 approached US$16 million, the company said in a press release. Monteris Medical has been backed by a mix of Canadian and US venture capital funds since 2001.
- Canadian drug maker raises C$45m Series C round
Japanese pharmaceutical company Mitsubishi Tanabe Pharma has led a funding round for Cytochroma that included contributions from Canadian pension La Caisse de dépôt et placement du Québec, Canadian government-backed BDC Capital and four retail venture capital funds.
- iNovia launches Alberta venture operations
The Edmonton-based firm has expanded its reach following the launch of its C$107m second fund.
- Montréal's Vantrix Seals $13.5M Financing
Vantrix, a developer of content delivery technology for mobile network operators, closed on $13.5 million in Series D financing. Summerhill Venture Partners, JK&B Capital and Tudor Ventures led the round, with pro rata participation from BDC Venture Capital, Innovacom and Entrepia Ventures, the company said.
- Canopy Labs Raises $1.5m
Canopy Labs has closed a $1.5 million investment led by the BDC Venture Capital IT Fund with participation by Peter Thiel’s Valar Ventures and a number of angel investors. A recent graduate of the Y Combinator program, the company will use the funds to scale operations and launch new analytics products. Based in Toronto, Canopy Labs provides tools and customer models to mid-sized customer-facing businesses wanting to understand their customer feedback.
- BDC Plans to Invest Another $100M in Canadian IT Startups
The Business Development Bank of Canada (BDC) announced plans to make $100 million in new commitments to early stage information technology companies based in Canada. The investments will be made through the BDC Venture Capital IT Fund. The fund has already committed $50 million to companies such as Radian6 (acquired by Salesforce), Opalis (acquired by Microsoft), Bycast (acquired by NetApp) and Q1 Labs (acquired by IBM).
- CVTech Group completes the sale of operations in the CVT Systems and Related Products Division
CVTech Group announced this week that it has spun off its CVT systems and related products segment in an MBO. The buyers, including management and Fondation, paid a total of $17.3 MM.
- BuildDirect Secures Another $4 MM
BuildDirect, a Vancouver-based online wholesaler of building products, announced that it has raised $4 MM from BDC Venture Capital. The company had recently raised $16 MM from OMERS Ventures in June.
- QuickMobile Secures $3.3 Million From BDC Venture Capital
QuickMobile, a Vancouver-based provider of mobile conference solutions for meetings, events, and trade shows, announced it has raised $3.3 Million from BDC Venture Capital. QuickMobile had previously raised capital from VanCity Capital and angel investors in Sepember, 2011.