BDC Venture Capital IT Fund Promises Another $100 Million to Canadian Startups

The BDC Venture Capital IT Fund today announced that it intends to invest $100 million in "new commitments" over the "coming years."

This builds on $50 million already committed to the sector.

The BDC Venture Capital IT Fund has invested in many successful companies including Radian6 (acquired by Salesforce), Opalis (acquired by Microsoft), Bycast (acquired by NetApp) and Q1 Labs (acquired by IBM).  Its current portfolio includes such companies as Beyond the Rack, AppNeta, and Blueprint with recent investments in BuildDirect, Datacratic, and LemonStand.

"Canada's IT sector is alive with great entrepreneurs eager to transform ideas into commercial success, jobs and growth," said Robert Simon, Senior Managing Partner of the BDC Venture Capital IT Fund. "With this financing we will be able to provide the needed financial support to new ventures that show the promise of substantial return."

"This is only one example of how today's BDC Venture Capital is responding in a more concerted, more strategic and more focused way to the needs of Canada's entrepreneurs," said Paul Kirkconnell, Executive Vice-President of BDC Venture Capital. "Beginning with the IT Fund and extending to our other dedicated funds of healthcare and energy/cleantech sectors, BDC VC is taking a leadership role in fostering the finest of Canadian ideas and new enterprise."

In the past year, the BDC Venture Capital IT Fund has closed 11 new deals. In addition, BDC Venture Capital received the Deal of the Year award from the Canadian Venture Capital Association two years in a row (for Radian6 and Q1Labs).

The IT Fund leads the majority of its investments, which are typically early stage companies focused on enterprise, internet or mobile. Initial financing rounds can vary from $100,000 to $4 million with follow on funding dependent on the portfolio company meeting progress and growth milestones.

Company:
BDC Capital
Location:
Montréal, Québec, Canada

A subsidiary of the Business Development Bank of Canada (BDC), BDC Capital offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1 billion under management, BDC Capital takes a strategic, patient approach to nurture companies’ development over the long term. From venture capital to equity to... more

Company:
Beyond the Rack
Location:
Montréal, Québec, Canada

Beyond the Rack is a private shopping club for women and men who want designer brand apparel and accessories at prices up to 80% off retail. We obtain authentic designer merchandise and provide it exclusively to our members through limited-time events. Each event starts at a specific time and typically lasts only 48 hours. After each event ends the merchandise is no longer available. Members... more

Company:
LemonStand
Location:
Vancouver, British Columbia, Canada

The eCommerce platform that's built for growth. Tailor-made for online stores that do over six figures per year in sales, or aspire to. Includes unparalleled flexibility, industry leading API, customizable checkout and an easy to use interface. Everything you need to craft the perfect customer shopping experience that will attract and retain more customers. more

Company:
Datacratic
Location:
Montréal, Québec, Canada

Datacratic is software company that applies real-time machine learning and predictive modeling to big data generated from consumer behavior. Datacratic provides optimization for Data Management Platforms (DMPs), Demand Side Platforms (DSPs), Agency Trading Desks (ATDs), e-commerce web sites and others in the real-time marketing ecosystem. Originally founded as Recoset in February 2010 and... more

Company:
AppNeta
Location:
Vancouver, British Columbia, Canada

AppNeta provides SaaS solutions for exceptional performance of business-critical applications. By bringing together server-based application performance insight, network-based application performance insight and comprehensive end-user experience monitoring, AppNeta solutions enable customers to easily find and fix performance issues in the application, through the network, to the end user. This... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more




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