Business Development Bank of Canada logo

Business Development Bank of Canada

North America, Quebec, Canada, Montréal

Description

BDC (Business Development Bank of Canada) is a federal Crown corporation and the only bank in Canada dedicated exclusively to entrepreneurs. Its core mission is to support the growth and development of Canadian small and medium-sized businesses through a combination of financing, advisory services, and venture capital. BDC plays a crucial role in fostering innovation and economic development across the country, particularly in sectors that are vital for Canada's future competitiveness.

BDC Capital is the venture capital arm of BDC, positioning itself as one of the largest and most active institutional investors in the Canadian venture capital ecosystem. It invests across the full spectrum of a company's lifecycle, from seed and early-stage development to later-stage growth equity. BDC Capital's investment strategy is broad, encompassing various high-growth sectors such as technology, cleantech, and healthcare. The firm is recognized for its commitment to building a robust venture capital landscape in Canada, often co-investing with private sector funds and supporting initiatives like the Women in Technology Venture Fund and the Industrial Innovation Venture Fund.

With over $5 billion in assets under management, BDC Capital has made a significant impact on the Canadian startup and scale-up scene, having invested in more than 700 companies to date. Their direct investment cheques typically range from $250,000 for early-stage ventures, providing crucial seed capital, up to $25 million or more for established, high-growth companies seeking significant expansion capital. This wide range allows BDC Capital to support entrepreneurs throughout their journey, from initial concept to global market leadership, reinforcing its mandate to drive innovation and create jobs within Canada.

Investor Profile

Business Development Bank of Canada has backed more than 147 startups, with 22 new investments in the last 12 months alone. The firm has led 31 rounds, about 21% of its total and boasts 83 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series B, Series A, Series Unknown rounds (top funding stages).
  • Majority of deals are located in Canada, United States, China.
  • Strong thematic focus on Software, Information Technology, SaaS.
  • Led 13 rounds in the past year.
  • Typical check size: $250K – $25M.

Stage Focus

  • Series B (20%)
  • Series A (18%)
  • Series Unknown (16%)
  • Seed (15%)
  • Series C (12%)
  • Post Ipo Debt (4%)
  • Series D (4%)
  • Private Equity (3%)
  • Series E (2%)
  • Debt Financing (2%)

Country Focus

  • Canada (89%)
  • United States (10%)
  • China (1%)

Industry Focus

  • Software
  • Information Technology
  • Saas
  • Artificial Intelligence (Ai)
  • Biotechnology
  • Enterprise Software
  • Manufacturing
  • Health Care
  • Renewable Energy
  • Pharmaceutical
circle-line
FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Business Development Bank of Canada frequently co-invest with?

Ventures West
North America, British Columbia, Canada, Vancouver
Co-Investments: 5
Real Ventures
North America, Quebec, Canada, Montréal
Co-Investments: 8
Bank of Montreal
North America, Ontario, Canada, Toronto
Co-Investments: 4
BDC Venture Capital
North America, Alberta, Canada, Calgary
Co-Investments: 19
GrowthWorks Capital
North America, British Columbia, Canada, Vancouver
Co-Investments: 7
Export Development Canada
North America, Ontario, Canada, Ottawa
Co-Investments: 11
StandUp Ventures
North America, Ontario, Canada, Toronto
Co-Investments: 4
Investissement Quebec
North America, Quebec, Canada, Quebec
Co-Investments: 6
Garage Capital
North America, California, United States, Ontario
Co-Investments: 5
BDC Capital Cleantech Practice
North America, Alberta, Canada, Calgary
Co-Investments: 7

Which angels does Business Development Bank of Canada often collaborate with?

TW
North America, California, United States, San Francisco
Shared Deals: 1
JZ
North America, California, United States, San Francisco
Shared Deals: 1
EP
North America, California, United States, Los Angeles
Shared Deals: 1
Nick Romano
North America, Ontario, Canada, Toronto
Shared Deals: 1
DT
North America, Colorado, United States, Denver
Shared Deals: 2
AB
North America, Ohio, United States, Cleveland
Shared Deals: 1
RC
North America, United States
Shared Deals: 1
AG
North America, California, United States, San Francisco
Shared Deals: 1
CT
North America, California, United States
Shared Deals: 1
AS
North America, California, United States, Menlo Park
Shared Deals: 1

What are some of recent deals done by Business Development Bank of Canada?

Highwood Asset Management

Calgary, Alberta, Canada

Highwood Asset Management is an asset management company that manages oil production and oil midstream spaces.

Asset ManagementIndustrialOil and Gas
Post Ipo DebtJul 3, 2025
Amount Raised: $103,127,564
LSL Pharma Group

Boucherville, Quebec, Canada

LSL Pharma Group is a manufacturing company that innovates and manufactures life sciences products.

Pharmaceutical
Post Ipo DebtJun 27, 2025
Amount Raised: $12,826,987
Conquest Planning

Winnipeg, Manitoba, Canada

Conquest Planning provides financial planning software that supports personalized goal-based advice.

Artificial Intelligence (AI)Financial ServicesFinTech
Series BJun 23, 2025
Amount Raised: $80,000,000
Carbon Upcycling

Calgary, Alberta, Canada

Carbon Upcycling is a carbontech company delivering technology to decarbonize hard-to-abate industries.

Advanced MaterialsBuilding MaterialCarbon CaptureCleanTechConstructionWaste Management
Convertible NoteJun 18, 2025
Amount Raised: $18,000,000
Eli

Montréal, Quebec, Canada

Eli is building the real-time interface to the human body, starting with Hormometer™—the world's first instant hormone monitoring system

Health CarePersonal HealthWomen's
Series AJun 10, 2025
Amount Raised: $12,397,628
HostPapa

Burlington, Ontario, Canada

HostPapa is a leading provider of web hosting and cloud service solutions to small and medium-sized businesses.

Information TechnologySmall and Medium BusinessesSoftwareWeb Hosting
Debt FinancingJun 3, 2025
Amount Raised: $130,000,000
Northstar Clean Technologies

Delta, British Columbia, Canada

Northstar Clean Technologies focuses on the recovery and reprocessing of single-use asphalt shingles.

CleanTechConstructionEnvironmental Consulting
Post Ipo DebtMay 20, 2025
Amount Raised: $6,290,900
Ces Energy Solutions

Calgary, Alberta, Canada

Ces Energy Solutions is a oil and gas energy company located in Calgary.

EnergyOil and GasRenewable Energy
Post Ipo DebtApr 28, 2025
Amount Raised: $397,616,326
GlitchSecure

Winnipeg, Manitoba, Canada

GlitchSecure provides real-time continuous security testing to help companies secure their products and infrastructure.

Cyber SecurityPenetration Testing
SeedApr 14, 2025
Amount Raised: $1,441,145
PrePad

Calgary, Alberta, Canada

PrePad provides advanced software solutions for optimizing capital lifecycle management, and asset development in the oil and gas drilling.

Oil and GasSoftware
GrantApr 10, 2025