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Venture Capital
FINANCE | Investment Firms & Funds
bdc.ca/capital

Investments

304

Portfolio Exits

35

Funds

12

Partners & Customers

8

About BDC Capital

BDC Capital is the investment arm of BDC, Canada’s business development bank. BDC Capital serves as a strategic partner to the country’s innovative firms. It offers businesses capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. The company was founded in 2006 and is based in Montreal, Quebec.

Headquarters Location

5, Place Ville Marie Ground floor

Montreal, Quebec, H3B 5E7,

Canada

877-232-2269

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Latest BDC Capital News

H|T: The Healthtech Times – Haply building Surgeon Simulator backed by BDC Deep Tech

Mar 31, 2023

Inverse3, Haply’s portable haptic device, in a medical setting. Plus: Noze gets $1M grant for malaria breathalyzer from Gates Foundation Share on: The Healthtech Times is a weekly newsletter covering healthtech news from Canada and around the globe. Subscribe to H|T using the form at the bottom of this page to ensure you don’t miss out on the most important healthtech news every week! Montréal-based Haply Robotics has secured $4.8 million CAD ( $3.5 million USD) to further develop haptic technology for medical training and gamificaiton in a seed round of funding led by BDC Capital’s Deep Tech Venture Fund. Haptic technology is used to transmit touch feedback through vibrations, sensations, and motion. When used in robotic or virtual surgical training, for example, users can feel what it’s like to “cut tissue, drill into the bone, or excise fat.” Artera, which uses artificial intelligence for cancer testing and personalized care, raised a $90 million round to support the distribution of its flagship test in prostate cancer. The San Francisco-based startup’s prostate cancer test — ArteraAI Prostate Test — predicts therapy benefits in localized prostate cancer. The cash infusion will help distribute the test in the U.S. and internationally, and also be used in the development of tests to support therapy personalization in other cancers. According to a new report from briefed.in, startups in BC raised a total of $1.3 billion in 2022 down by 67.5 percent from 2021 , but up by 34 percent from 2020 . Of all the Canadian tech regions tracked by briefed.in, BC saw the most significant year-over-year decline in funding. Maven Clinic, a New York City-based virtual women’s health provider, announced that it acquired London-based Naytal, also a virtual clinic for women. By acquiring Naytal, Maven's senior vice president of employer growth Chris Hicks said the company aims to improve access to women’s and family health in the U.K. Montréal-based Noze has received a $1 million grant from the Bill & Melinda Gates Foundation to build a breathalyzer that detects infectious diseases, more specifically tuberculosis and malaria. Noze's portable breathalyzer is powered by the company's AI-based digital odour perception platform, and detects unique biomarkers in exhaled breath to recognize infectious diseases. In addition, it can deliver instant diagnostics. (MOBIHEALTHNEWS) Cognito Therapeutics, a startup using visual and auditory stimulation to treat neurodegenerative disorders, scored $73 million in a Series B funding round led by FoundersX Ventures, bringing its total raise to $93 million. The company will use the funds to advance the study of its neuromodulation device intended to treat Alzheimer's disease. Québec Finance Minister Eric Girard released the 2023-2024 budget, making clear that the provincial government is betting on economic growth. The plan earmarks $900 million towards new initiatives intended to stimulate economic productivity and innovation, and $615 million to address the labour shortage. Mental health provider SonderMind bought struggling startup Mindstrong's technology and will bring on board some of its tech team, the company announced Wednesday. Financial terms of the deal were not disclosed. Through the deal, SonderMind also gains Mindstrong's tech capabilities—such as specialized care journeys and intelligent notes functions—to help treat those with serious mental illness, the company said. Value-based healthcare is a delivery model that allows providers to be paid based on patient health outcomes. In the traditional method, providers are paid based on the amount of healthcare services they deliver. PointClickCare’s acquisition of Patient Pattern will help the former in facilitating providers’ transition to value-based care by unifying it and their existing care delivery models in one platform. With $30 million in funding from the federal government, CAN Health operates through a regional model that allows the organization to work across regional boundaries to identify shared problems and priorities, and connect health operators across the country interested in similar tech solutions. Subscribe to The Healthtech Times Don’t forget to subscribe to The Healthtech Times using the form below to make sure it hits your email inbox every week! Subscribe to H|T: The Healthtech Times * indicates required

BDC Capital Investments

304 Investments

BDC Capital has made 304 investments. Their latest investment was in GHGSat as part of their Series C on September 9, 2023.

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BDC Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/7/2023

Series C

GHGSat

Yes

2

9/5/2023

Unattributed VC

FlipGive

$3.66M

Yes

1

8/31/2023

Series B

FlipGive

$3.7M

Yes

4

8/29/2023

Seed VC

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$99M

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10

8/10/2023

Series A - II

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$99M

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10

Date

9/7/2023

9/5/2023

8/31/2023

8/29/2023

8/10/2023

Round

Series C

Unattributed VC

Series B

Seed VC

Series A - II

Company

GHGSat

FlipGive

FlipGive

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Amount

$3.66M

$3.7M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

4

10

10

BDC Capital Portfolio Exits

35 Portfolio Exits

BDC Capital has 35 portfolio exits. Their latest portfolio exit was Clearpath Robotics on September 05, 2023.

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

9/5/2023

Acquired

$99M

8

6/14/2023

Acquired

$99M

1

6/13/2023

Acq - Pending

$99M

3

5/2/2023

Acq - Fin

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$99M

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10

4/3/2023

Acquired

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$99M

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10

Date

9/5/2023

6/14/2023

6/13/2023

5/2/2023

4/3/2023

Exit

Acquired

Acquired

Acq - Pending

Acq - Fin

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

8

1

3

10

10

BDC Capital Acquisitions

7 Acquisitions

BDC Capital acquired 7 companies. Their latest acquisition was Monarch Industries on September 30, 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

9/30/2022

$99M

Acq - Fin - II

2

1/31/2022

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$99M

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10

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

Date

9/30/2022

1/31/2022

3/22/2021

8/27/2020

10/31/2019

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin - II

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Sources

2

10

10

10

10

BDC Capital Fund History

12 Fund Histories

BDC Capital has 12 funds, including Thrive Venture Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/21/2022

Thrive Venture Fund

$370.4M

1

9/21/2022

BDC Capital Women In Technology Fund

$149.29M

4

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

Closing Date

9/21/2022

9/21/2022

5/17/2021

7/16/2020

6/5/2019

Fund

Thrive Venture Fund

BDC Capital Women In Technology Fund

BDC Growth Equity Partners Fund II

BDC IP Development Fund

BDC Capital Industrial Innovation Venture Fund

Fund Type

Status

Amount

$370.4M

$149.29M

$250M

$99M

$99M

Sources

1

4

1

10

10

BDC Capital Partners & Customers

8 Partners and customers

BDC Capital has 8 strategic partners and customers. BDC Capital recently partnered with Future Capital on July 7, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

7/20/2022

Partner

Germany

BDC partners with e-learning platform Future Capital to train 150 women for angel investing

BDC Capital 's Women in Technology Venture Fund -RRB- has partnered with Vancouver-based edtech startup Future Capital to deliver the second edition of BDC Capital 's Women in Technology Series .

1

1/27/2022

Partner

Canada

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10

1/27/2022

Partner

Switzerland

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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

Date

7/20/2022

1/27/2022

1/27/2022

10/4/2021

1/15/2018

Type

Partner

Partner

Partner

Partner

Licensor

Business Partner

Country

Germany

Canada

Switzerland

Canada

Canada

News Snippet

BDC partners with e-learning platform Future Capital to train 150 women for angel investing

BDC Capital 's Women in Technology Venture Fund -RRB- has partnered with Vancouver-based edtech startup Future Capital to deliver the second edition of BDC Capital 's Women in Technology Series .

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Sources

1

10

10

10

10

BDC Capital Team

10 Team Members

BDC Capital has 10 team members, including current Chief Executive Officer, Stephen Requa.

Name

Work History

Title

Status

Stephen Requa

Chief Executive Officer

Current

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Name

Stephen Requa

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Work History

Title

Chief Executive Officer

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Status

Current

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GetVantage

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