BDC Capital is pouring more capital into growth-stage companies in need of investment money.
The Montreal-based investment arm of the BDC announced the launch of its new $300 million Growth Venture Co-Investment Fund today. The fund is meant to help companies “as they scale to their full potential and help to attract additional investors to support their expansion.”
“We were pleased to find both a strong appetite for collaboration among investors and significant market demand,” said BDC Capital’s Jérôme Nycz. “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 co-invest alongside other partner funds. It will also have the capacity to make larger investments over the life of its portfolio
BDC Capital has now unveiled four different funds in under one month. This includes last month’s $250 million growth equity fund, a new $200 million deep tech-focused fund and the co-launched Black Innovation fund, with an initial close of $6.4 million. That last fund is in collaboration with Black Innovation Capital.
The new pile of cash isn’t the only growth fund that has recently launched in Montreal. Diagram and inovia in have also followed through on their own funds.
Dominique Bélanger, the fund’s Managing Partner, said 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.”
BDC had previously allocated follow on funding to companies like Hopper and ApplyBoard. It lists Verafin, Aquatic Informatics and Avidbots as “past successes.”
The BDC calls itself “the bank for Canadian entrepreneurs,” and has over $3 billion under management.