To support its goal of developing Canadian technology companies with potential to transform industries on a global scale, BDC Venture Capital announced today its intention to invest more than $100 million into current and future scalable energy/cleantech opportunities.
“The rising cost of energy and resources, as well as the transition to a low-carbon economy, has caused a surge in cleantech innovation in Canada, and this country has the opportunity to be a world leader in developing technologies that can help companies address global resource, productivity and efficiency challenges,” said Tony Van Bommel, senior managing partner of the Energy/Cleantech (ECT) Fund. “With this financing, BDC Venture Capital will support Canadian ventures that have the potential both to commercialize scalable ECT technologies and to generate significant returns.”
BDC Venture Capital is one of the largest and most active venture investors in the Canadian energy/cleantech sector. Its experienced team has profitably invested over the past decade, with a proven track record in the space. One reason for this performance lies in its uniquely focused approach to investment.
Traditionally, cleantech venture capital investments globally have been directed to large, capital-intensive infrastructure projects such as solar or wind farms or building large facilities for the production of biofuels or green chemicals. By contrast, the BDC Venture Capital ECT Fund tailors investments towards scalable, capital-efficient ventures that can significantly improve the efficient use of scarce resources – in every industry, across all technology platforms, especially electronics, novel materials and information and communication innovations.
“The BDC Venture Capital ECT Fund is reshaping the concept of cleantech, by putting smart money towards globally competitive Canadian technologies that can make businesses everywhere more resource-efficient and productive,” said Paul Kirkconnell, Executive Vice-President of BDC Venture Capital. “Along with our other dedicated funds, the ECT Fund is another example of how today’s BDC Venture Capital is making strategic investments that foster promising Canadian ideas with the potential for substantial return on investment, while also strengthening the country’s venture capital ecosystem.”
The BDC Venture Capital ECT Fund has invested in such revolutionary ECT ventures as D-Wave Systems, a super-efficient and ground-breaking quantum computing company based in Burnaby, BC, and REGEN Energy, a Toronto-based provider of energy-reduction solutions for commercial, industrial, institutional and multi-residential facilities. The fund’s current portfolio also includes General Fusion, SWITCH Materials, Teradici, Axine Water Technologies, Cooledge Lighting, Nexterra, Solantro and Vizimax.
Active in the industry since 2001, BDC Venture Capital’s ECT Fund is led by one of the most experienced teams in Canada, with more than 90 years of collective experience, both as entrepreneurs and investors in smart grid, energy storage, green IT, building energy management, energy-efficient lighting and water treatment technologies. The fund has offices in Vancouver, Toronto, Ottawa, Montréal and Calgary, as well as strong links to the global energy and clean technology sector.
About BDC Venture Capital
With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health, and energy/cleantech companies, as well as venture funds, with high growth potential. From seed through expansion to exit, our mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian technology ventures.
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