Got a great startup business idea? BDC Venture Capital has announced they have another $100 million to their existing BDC Venture Capital IT Fund that will be used to help fuel growth for startup in the coming year.
“Canada’s IT sector is alive with great entrepreneurs eager to transform ideas into commercial success, jobs and growth,” said Robert Simon, Senior Managing Partner of the BDC Venture Capital IT Fund. “With this financing we will be able to provide the needed financial support to new ventures that show the promise of substantial return.”
To date the the BDC Venture Capital IT Fund has invested in many companies such as Radian6 (acquired by Salesforce), Opalis (acquired by Microsoft), Bycast (acquired by NetApp) and Q1 Labs (acquired by IBM). Its current portfolio includes such companies as Beyond the Rack, Layer7, AppNeta and Blueprint with recent investments in BuildDirect, Quickmobile, Datacratic, Privacy Analytics, and LemonStand.
“This is only one example of how today’s BDC Venture Capital is responding in a more concerted, more strategic and more focused way to the needs of Canada’s entrepreneurs,” said Paul Kirkconnell, Executive Vice-President of BDC Venture Capital. “Beginning with the IT Fund and extending to our other dedicated funds of healthcare and energy/cleantech sectors, BDC VC is taking a leadership role in fostering the finest of Canadian ideas and new enterprise.”
This latest financing occurs on the heels of a substantial restructuring of BDC Venture Capital in recent years as the organization has worked hard to rejuvenate the ailing health of Canada’s venture capital sector.
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