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bdc.ca/capital

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Investments

251

Portfolio Exits

26

Funds

8

Partners & Customers

7

About BDC Capital

BDC Capital, a subsidiary of the Business Development Bank of Canada (BDC), offers a full spectrum of specialized financing and investment solutions to help Canadian entrepreneurs achieve their full growth potential. With more than $1.6 billion under management, BDC Capital takes a strategic, patient approach to nurture companies' development over the long term. From venture capital and equity, to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare.

BDC Capital Headquarter Location

5, Place Ville Marie Suite 100

Montreal, Quebec, H3B 5E7,

Canada

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Latest BDC Capital News

Potloc secures $35M equity and debt funding led by Investissement Québec

Jun 21, 2022

Potloc secures $35M equity and debt funding led by Investissement Québec CPE News (6.21.2022) – Potloc raised CDN $35 million in Series B equity funding and debt financing led by Investissement Québec with participation of First Ascent Ventures and Brightspark Ventures, Desjardins Capital, Cap Horn, Ecofuel Fund, BDC Capital’s Seed Fund. CIBC Innovation Banking provided $10 million debt financing. The Series B closed in early December 2021 and debt financing closed in May 2022. Marie-Michèle Caron, President of International Markets at Thryv, and Tony van Marken, Managing Partner at First Ascent Ventures, have joined two founders, Rodolphe Barrere and Louis Delaoustre, and Guillaume Jacquet, EVP of Product at Lightspeed Commerce, on Potloc reconstituted board of directors. Potloc will use new funding to accelerate its go-to-market strategy in North America and Europe and further develop Potloc’s machine learning-driven social media sampling technology that dramatically improves the quality of first-party data acquired through consumer surveys. Montreal based Potloc is a research technology company that provides top consulting firms and leading brands with an innovative groundbreaking social media sampling technology to target respondents worldwide with extreme precision and speed, better understand their consumer base and solve strategic challenges through accurate data. photo credit: Potloc News Release Potloc Closes CAD$35M Series B Round to drive global growth with its game changing research technology Targeting a CAD$40B market for surveys, investors back latest Montreal data company with its breakthrough approach to ensuring better quality data through precision targeting and industry-leading speed. MONTREAL, CA – June 21st Potloc, the research technology company delivering new levels of data quality, precision and speed with its social media sampling technology, today announced the closing of its Series B round, totalling CAD$35M in new equity and debt financing. Investissement Québec led the round followed by First Ascent Ventures and initial investors Brightspark Ventures, Desjardins Capital, Cap Horn, Ecofuel Fund, BDC Capital’s Seed Fund along with debt financing provided by CIBC Innovation Banking. The raise marks Potloc’s second funding round within the last 18 months, bringing total investment to CAD$58M. The funding will be used to accelerate its go-to-market strategy in North America and Europe and further develop Potloc’s machine learning-driven social media sampling technology that dramatically improves the quality of first-party data acquired through consumer surveys. Potloc’s unique differentiator is its unique niche targeting capability to survey consumers and professionals no one else can. New board members include Marie-Michèle Caron, President – International Markets at Thryv and Tony van Marken, Co-Founder and Managing Partner at First Ascent Ventures. They are joining the two Founders and Guillaume Jacquet, Executive Vice President, Product at Lightspeed Commerce. Laser focused on improving data quality to make better decisions Targeting a CAD$40B market by making consumer surveys the preferred decision-making tool for global business leaders, Potloc has seen its sales more than double annually for the past four years, as its base of global management consulting firms and Fortune 500 clients has embraced the company’s new approach to acquire insights from precisely-defined audiences, and have considerably increased their pace and volume of engagement. “Obtaining high-quality first-party data has been an Achilles heel for the research industry because of outdated and flawed methods to survey consumers. Everyday, we help our customers make better decisions thanks to our outstanding data quality. The Covid crisis has exposed the need for companies to reinvent themselves by listening to their markets. Quick customer adoption and very high retention and re-engagement rates demonstrates that clients see tangible business value in our innovative approach to consumer research.” said Potloc co-founder and CEO Rodolphe Barrere, who was named as the top tech leader on the 2021 Forbes Under 30 list. Furthering R&D in data science to deliver precise niche targeting and data quality After expanding from 60 to 230 employees in the past year, Potloc – recently recognized by a Deloitte Fast 50 2021 Companies-to-watch award – plans to hire 120 more staff in Montreal, New York and Paris. With further investment in data science, Potloc will continue to develop machine learning in its social media sampling technology while taking its analytics platform to the next level, thus providing its clients with quality insights tailored for their specific business decisions. “Once again, our team is proud to be associated with Potloc’s success and growth strategies. The company is increasingly making its mark with its innovative approach to consumer research and market intelligence, offering tailor-made analysis to companies and organizations wishing to meet the ever-changing needs of their customers. Investissement Québec will continue to support promising young Québec companies to provide them all the tools they need to remain competitive locally and internationally, while contributing to the economic development of all regions of Québec,” says Guy LeBlanc, President and CEO of Investissement Québec. A global roster of top companies as clients Potloc’s survey results are used by the world’s top consulting firms along with world leading consumer brands in retail, consumer goods, food services, financial services, healthcare, transport/automotive, manufacturing and industrial equipment. With a global customer base of B2C and B2B companies (including Roland Berger, KPMG, EY-Parthenon, Lowe’s and L’Oréal), Potloc revenues have consistently more than doubled year over year in the past 4 years as it has established itself as an expert in quickly extracting precise and highly targeted insights from often hard-to-reach consumers. “Potloc is a growth story that we are excited to be a part of. They are disrupting old methods by delivering tangible value in new ways and having a major impact on how companies acquire consumer insights to make decisions. All the KPIs for company growth are trending very positively as companies discover how accurately Potloc can gather insights from niche consumers. We are very proud to add Potloc to the First Ascent Ventures investment portfolio,” said Tony van Marken, Managing Partner and co-founder at First Ascent Ventures. About Potloc Potloc is a research technology company that provides top consulting firms and leading brands with an innovative groundbreaking social media sampling technology to target respondents worldwide with extreme precision and speed, better understand their consumer base and solve strategic challenges through accurate data. More info on www.potloc.com About Investissement Québec Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists Québec businesses with export activities. More info on www.investquebec.com/international/en About First Ascent Ventures First Ascent Ventures invests in emerging technology companies that are building the next generation of disruptive, enterprise B2B software that leverages the cloud, artificial intelligence (AI), machine learning, big data, 5G, mobility and IOT with a focus on companies that are solving the challenges related to data privacy and security in the enterprise. First Ascent Ventures is looking for outstanding, committed entrepreneurs and management teams who seek not just financial backing, but the experience and expertise of successful financial and operating executives who can create a catalyst for growth and ultimately a successful exit for all stake holders. More info on www.firstascent.vc For more information:

BDC Capital Investments

251 Investments

BDC Capital has made 251 investments. Their latest investment was in Sampler as part of their Debt - II on June 6, 2022.

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BDC Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/20/2022

Debt - II

Sampler

$1.54M

No

1

6/2/2022

Series B

Arteria AI

Yes

2

5/17/2022

Unattributed VC

Mara Renewables

$39.5M

Yes

4

4/29/2022

Series A

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$99M

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10

4/20/2022

Series B - II

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$99M

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10

Date

6/20/2022

6/2/2022

5/17/2022

4/29/2022

4/20/2022

Round

Debt - II

Series B

Unattributed VC

Series A

Series B - II

Company

Sampler

Arteria AI

Mara Renewables

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Amount

$1.54M

$39.5M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

1

2

4

10

10

BDC Capital Portfolio Exits

26 Portfolio Exits

BDC Capital has 26 portfolio exits. Their latest portfolio exit was Finn AI on June 23, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/23/2022

Acquired

$99M

7

12/1/2021

Corporate Majority

$99M

5

11/22/2021

Acquired

$99M

4

11/12/2021

Acquired

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$99M

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10

10/26/2021

Acquired

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$99M

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10

Date

6/23/2022

12/1/2021

11/22/2021

11/12/2021

10/26/2021

Exit

Acquired

Corporate Majority

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

7

5

4

10

10

BDC Capital Acquisitions

6 Acquisitions

BDC Capital acquired 6 companies. Their latest acquisition was Monarch House on January 31, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/31/2022

$99M

Acq - Fin

1

3/22/2021

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$99M

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10

8/27/2020

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$99M

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10

10/31/2019

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$99M

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10

7/25/2019

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$99M

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10

Date

1/31/2022

3/22/2021

8/27/2020

10/31/2019

7/25/2019

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

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Sources

1

10

10

10

10

BDC Capital Fund History

8 Fund Histories

BDC Capital has 8 funds, including BDC Growth Equity Partners Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

5/17/2021

BDC Growth Equity Partners Fund II

$250M

1

7/16/2020

BDC IP Development Fund

$99M

10

6/5/2019

BDC Capital Industrial Innovation Venture Fund

$99M

10

11/15/2017

BDC Capital Women-Led Tech Startups Fund

$99M

10

5/4/2017

BDC Capital SMEs Fund

$99M

10

Closing Date

5/17/2021

7/16/2020

6/5/2019

11/15/2017

5/4/2017

Fund

BDC Growth Equity Partners Fund II

BDC IP Development Fund

BDC Capital Industrial Innovation Venture Fund

BDC Capital Women-Led Tech Startups Fund

BDC Capital SMEs Fund

Fund Type

Status

Amount

$250M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

BDC Capital Partners & Customers

7 Partners and customers

BDC Capital has 7 strategic partners and customers. BDC Capital recently partnered with Mila on January 1, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

1/27/2022

Partner

Switzerland

BDC Announces Strategic Partnership with Mila Providing Entrepreneurs Access to World-Class AI Resources

MONTREAL , Jan. 27 , 2022 / CNW Telbec / - BDC Capital today announces a new 3-year strategic partnership with Mila , the Quebec artificial intelligence institute , one of the world 's largest machine learning research institutes .

1

1/27/2022

Partner

Canada

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10

10/4/2021

Partner

Canada

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10

1/15/2018

Licensor

Canada

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10

10/12/2017

Partner

United States

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10

Date

1/27/2022

1/27/2022

10/4/2021

1/15/2018

10/12/2017

Type

Partner

Partner

Partner

Licensor

Partner

Business Partner

Country

Switzerland

Canada

Canada

Canada

United States

News Snippet

BDC Announces Strategic Partnership with Mila Providing Entrepreneurs Access to World-Class AI Resources

MONTREAL , Jan. 27 , 2022 / CNW Telbec / - BDC Capital today announces a new 3-year strategic partnership with Mila , the Quebec artificial intelligence institute , one of the world 's largest machine learning research institutes .

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Sources

1

10

10

10

10

BDC Capital Team

7 Team Members

BDC Capital has 7 team members, including current Senior Vice President, Karl Reckziegel.

Name

Work History

Title

Status

Karl Reckziegel

Senior Vice President

Current

Dominique Belanger

Gamerizon, Multiple Capital, Innovatech Montreal, Deloitte, and Canadian Armed Forces

Managing Partner

Current

Glenn R. Ergan

Managing Partner

Current

Joseph Regan

Export Development Canada, Bioenterprise Capital, ViOptix, GrowthWorks, and Ventures West

Managing Partner

Current

Michelle Scarborough

Kensington Capital Partners, Fronterra Ventures, Invest Ottawa, and Solfex Energy Systems

Managing Partner

Current

Name

Karl Reckziegel

Dominique Belanger

Glenn R. Ergan

Joseph Regan

Michelle Scarborough

Work History

Gamerizon, Multiple Capital, Innovatech Montreal, Deloitte, and Canadian Armed Forces

Export Development Canada, Bioenterprise Capital, ViOptix, GrowthWorks, and Ventures West

Kensington Capital Partners, Fronterra Ventures, Invest Ottawa, and Solfex Energy Systems

Title

Senior Vice President

Managing Partner

Managing Partner

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

Current

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