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Investments

460

Portfolio Exits

90

Funds

1

About BDC Venture Capital

BDC Venture Capital is a venture capital investor in Canada that is active at all stages of a company's development cycle, from seed through expansion, with a focus on technology-based businesses. It aims to get involved right at the beginning of a business venture - the seed stage - and stay involved to later stage situations, such as pre-IPO mezzanine rounds. As of 2010, the firm invested in more than 400 companies and has offices located across Canada, including: Montreal, Vancouver, Toronto, Calgary and Ottawa. BDC Venture Capital's Initial Investment BDC Venture Capital's typical initial investment ranges from $500,000 to $3,000,000 as part of a financing round in the $1,000,000 to $10,000,000 range.

Headquarters Location

5 Place Ville Marie Suite 400

Montreal, Quebec, H3B 5E7,

Canada

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Expert Collections containing BDC Venture Capital

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find BDC Venture Capital in 3 Expert Collections, including Store management tech (In-store retail tech).

S

Store management tech (In-store retail tech)

55 items

Startups aiming work with retailers to improve brick-and-mortar retail operations.

V

Vitamin & Supplement Startups

237 items

F

Fitness Tech

227 items

We define fitness tech as companies leveraging software and technology to augment approaches to developing or maintaining physical fitness. Companies in this category develop tools and services including workout apps, wearables, and connected fitness equipment.

Research containing BDC Venture Capital

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned BDC Venture Capital in 2 CB Insights research briefs, most recently on Oct 17, 2022.

Latest BDC Venture Capital News

Five Canadian startups named to CB Insights’ 2021 AI 100 list

Apr 7, 2021

Coveo is backed by investors that include Fonds de Solidarite FTQ, Evergreen Coast Capital, OMERS Private Equity, Investissement Quebec, and BDC Venture Capital. Last year, it also made CB Insights’ first annual Retail Tech 100 . Coveo was one of three Québec-based startups to crack the list, joining software startup Algolux and commercial HVAC company Brainbox AI, both of which are based in Montréal. Algolux develops AI-based perception software. According to CB Insights, the startup has raised approximately $19 million from investors that include Drive Capital, Playground Global, Real Ventures, Intact Ventures, and GM Ventures. Founded in 2017, Brainbox AI aims to develop autonomous HVAC technology for commercial use. According to CB Insights, the startup is backed by Desjardins Capital and Esplanade Ventures. The company raised a $12 million CAD round” last April to expand into new markets. TensTorrent, a Toronto startup that develops AI-based computer processors, also made CB’s latest list. Founded in 2016 and backed by Eclipse Ventures and Real Ventures, TensTorrent has raised approximately $21 million to date, according to CB Insights. Kitchener-Waterloo’s DarwinAI, which made last year’s list as well, cracked CB Insights’ 2021 AI 100. Backed by Obvious Ventures, Inovia Capital, Honeywell Ventures, Plug and Play Accelerator, and ACVC Partners, DarwinAI wants to help developers accelerate deep learning development. The startup aims to combat the “black box” problem by facilitating explainable AI that allows enterprises to build AI models they can trust. In December, DarwinAI raised approximately $5 million USD . Last year, the startup set its sights on detecting COVID-19, partnering with Red Hat to accelerate the deployment of its coronavirus solution, which it first revealed in March. Last year, seven other Canadian tech startups made CB Insights’ AI 100 list: Xanadu, Invenia, Deeplite, Korbit, Cyclica, ProteinQure, and Integrate.ai. This represented a significant increase compared to 2019, when only one Canadian startup made the list—Montreal’s Element AI. Earlier this year, Element AI was acquired by ServiceNow for $230 million USD. According to CB Insights, over half of all companies on last year’s AI 100 secured additional financing after being named to the list, raising a total of $5.2 billion, including 16 rounds valued at more than $100 million. Six of all the startups listed in 2020 also exited, three with an initial public offering, two by acquisition, and one via a special purpose acquisition company (SPAC). “As industry after industry adopts AI, we expect this year’s class will see similar levels of interest from investors, acquirers and customers,” said Sanwal. Photo courtesy of Coveo

BDC Venture Capital Investments

460 Investments

BDC Venture Capital has made 460 investments. Their latest investment was in Dozr as part of their Series B on February 2, 2022.

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BDC Venture Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/8/2022

Series B

Dozr

$21.63M

Yes

1

12/1/2021

Series B

PotLoc

$19.32M

No

2

9/10/2021

Series C - II

Axine Water Technologies

$0.07M

No

1

6/15/2021

Series B

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$99M

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10

11/12/2020

Series A

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$99M

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10

Date

2/8/2022

12/1/2021

9/10/2021

6/15/2021

11/12/2020

Round

Series B

Series B

Series C - II

Series B

Series A

Company

Dozr

PotLoc

Axine Water Technologies

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Amount

$21.63M

$19.32M

$0.07M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

1

2

1

10

10

BDC Venture Capital Portfolio Exits

90 Portfolio Exits

BDC Venture Capital has 90 portfolio exits. Their latest portfolio exit was Neterion on January 18, 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

1/18/2023

Acquired

$99M

5

11/10/2022

Acquired

$99M

2

8/5/2022

Reverse Merger

$99M

52

5/6/2022

Acquired

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$99M

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10

2/23/2022

Acquired

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$99M

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10

Date

1/18/2023

11/10/2022

8/5/2022

5/6/2022

2/23/2022

Exit

Acquired

Acquired

Reverse Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

5

2

52

10

10

BDC Venture Capital Acquisitions

1 Acquisition

BDC Venture Capital acquired 1 company. Their latest acquisition was The Superior Group of Companies on January 01, 2013.

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

1/1/2013

$99M

Management Buyout

1

Date

1/1/2013

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Management Buyout

Sources

1

BDC Venture Capital Fund History

1 Fund History

BDC Venture Capital has 1 fund, including IT Venture Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/17/2016

IT Venture Fund II

$109.64M

1

Closing Date

2/17/2016

Fund

IT Venture Fund II

Fund Type

Status

Amount

$109.64M

Sources

1

BDC Venture Capital Team

3 Team Members

BDC Venture Capital has 3 team members, including current Managing Partner, Charles Cazabon.

Name

Work History

Title

Status

Charles Cazabon

Managing Partner

Current

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Name

Charles Cazabon

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Work History

Title

Managing Partner

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Status

Current

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