BDC Capital, the investment arm of BDC Canada’s only bank, has just launched its own Industrial Innovation Venture Fund. The $250 million that this fund is composed of will be invested in technology companies that aim to modernize traditional Canadian industries.
BDC will target companies in the early-to-late stages of development that are focused on agriculture, food, drones, energy, mining, robotics, and artificial intelligence.
BDC brought on Joe Regan, a former board member for several companies with prior work experience at companies like Bioenterprise Capital and Export Development Canada, to oversee the fund as a managing partner. With Regan’s expertise and overview of the industry, BDC has confidence that he will successfully deliver the desired outcomes of the Industrial Innovation Venture Fund.
If your company is partaking in similar innovative activities or industry-modernizing projects, EVAMAX can help assist you in acquiring the funding and capital to do so.
Some of the fund’s core targeted industries include agricultural technologies, resource extraction technologies, and advanced manufacturing.
With the hopes of transforming and accelerating certain Canadian industries, BDC is looking to invest in companies seeking improvements in productivity and competitiveness through innovative technologies, processes and business models.
According to Jerome Nycz, Executive VP of BDC Capital, “This fund is complementary to our existing work with the Industrial, Clean and Energy Technology (ICE) Venture Fund, and by launching the Industrial Innovation Venture Fund, we are doubling down on developing transformative solutions for Canadian industries.”
The ICE Technology Venture Fund invests in capital-efficient and scalable businesses that enhance resource productivity with potential for global operations. Some of the industries that the ICE fund supports include artificial intelligence, machine learning, cloud computing, internet, intelligence systems, and more.
By introducing the Industrial Innovation Venture Fund, BDC is furthering their interest in supporting innovation and industrial modernization in Canada.
Many of the industries that present Canada with a competitive advantage from a global perspective are slow to digitalize. The fund will assist these industries by meeting the urgent demands of the next business leaders seeking advancement in the Canadian economy.
“With this new $250 million Fund, BDC Capital is encouraging innovation in traditional industries where venture capital has not yet engaged at a large scale in Canada…This shows how venture capital can accelerate Canada’s growth across a variety of sectors and industries.”, said Kim Furlong, CEO of the Canadian Venture Capital and Private Equity Association.
Currently, BDC is invested in over 700 companies totaling approximately $3 billion under management. This fund is symbolic of the significant development regarding the Canadian venture capital ecosystem we have experienced in recent years.
BDC Capital serves as a strategic partner to innovative firms, offering a full spectrum of risk capital that supports Canadian companies looking to scale their business on the global level.
The implementation of the Industrial Innovation Venture Fund will support growing companies, the Canadian economy and also create more jobs for the middle class. BDC has proven to be a vital supporter for entrepreneurs and small businesses with the hopes to continue to do so in the coming future.
For more information regarding available funding, grants and tax incentives, contact EVAMAX today! We can help identify your company’s potential to qualify for these benefits.