BDC Capital has launched a Growth Venture Co-Investment Fund, a C$300 million venture capital vehicle that will target late-stage companies. It is intended to help venture-backed companies scale to their full potential and attract additional investors. Dominique Bélanger is the fund’s managing partner.
MONTREAL, June 8, 2021 /CNW Telbec/ – BDC Capital today announces the launch of its new Growth Venture Co-Investment Fund, a $300 million venture capital fund targeting late stage growth companies. This fund is designed to play a key role in supporting venture backed companies as they scale to their full potential and help to attract additional investors to support their expansion.
“During the life of the initial Co-Investments Fund we were pleased to find both a strong appetite for collaboration among investors and significant market demand,” said Jérôme Nycz, Executive Vice President, BDC Capital. “Consequently, we believe that by doubling down on our commitment, this successor fund will play an important role in maintaining the long-term growth of VC backed companies and supporting them on their path to becoming global tech leaders.”
The new fund will continue making industry-agnostic investments through participation in late stage financing, co-investing alongside other partner funds. This provides an additional source of Canadian funding for late stage companies in a globally competitive marketplace.
Dominique Bélanger, the fund’s Managing Partner, believes it’s vital to continue to support this segment of the market. “Our entire team is thrilled to be continuing our work of deploying late stage capital to emerging industry leaders who need it to fuel their continued expansion. We can all see that the Canadian market has greatly matured over the past decade, with many recent technology IPOs and more coming.”
As late stage rounds continue to increase in size globally, the Growth Venture Co-Investment Fund will also have the capacity to make larger investments over the life of its portfolio, as evidenced by the positions already held in companies like Hopper and ApplyBoard. The $300 million allocated corresponds to this trend, while building on the fund’s past successes, including investments in companies like Verafin, Aquatic Informatics, Avidbots, and others.
“The Growth Venture Co-Investment Fund represents another step towards BDC Capital’s vision for creating Canadian tech champions,” said Kim Furlong, CEO of the Canadian Venture Capital and Private Equity Association. “CVCA shares this vision, as it is not only important to nurture early stage companies in Canada, but also to support their growth long term, as they scale up and compete globally.”
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.