BDC, a Montreal, Canada-based business development bank, closed its new $150M Sustainability Venture Fund.
Led by Joseph Regan, current Managing Partner of BDC Capital’s Industrial Innovation Venture Fund, the fund will be dedicated to making equity investments in sustainability-oriented businesses with SaaS, hardware-enabled software, and software-led business models. It will invest in technologies in line with four key United Nations Sustainable Development Goals (SDGs) leveraging Canada’s strengths and areas of opportunity: sustainable communities and cities, responsible production and consumption, climate action as well as clean and affordable energy.
The vehicle will invest in seed to Series A and B, scalable and economically durable Canadian companies that are creating sustainability-enhancing technology systems.
This new fund complements BDC Capital’s existing $400M Climate Tech Fund II, which offers equity investment and flexible financing for clean and climate tech firms with higher, more intensive capital needs and those that are building technologies demonstrating material GHG emission reduction potential.
BDC Capital is the investment arm of BDC, Canada’s business development bank. With over $6 billion under management, it serves as a strategic partner to the country’s firms. It offers businesses a full spectrum of capital, from seed investments to growth equity as well as ownership transition solutions, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage.
FinSMEs
24/04/2023