BDC Capital Inc. is the private equity and venture capital arm of the Business Development Bank of Canada, established in 1975 and headquartered in Montreal. The firm specializes in direct investments and fund of funds, focusing on a broad spectrum of financing options including venture capital, growth equity, and mezzanine investments. It primarily targets small and medium-sized enterprises across various sectors, including healthcare, information technology, and clean technology. BDC Capital is particularly interested in early-stage and development technology companies, as well as women-led firms. The firm typically invests between CAD 0.1 million and CAD 35 million, often taking minority stakes and seeking board representation in its investee companies. BDC Capital emphasizes a strong presence across Canada, with particular attention to regions such as Quebec, Ontario, and British Columbia, and it employs various exit strategies, including initial public offerings and strategic sales. With a history of investing in over 400 companies, BDC Capital aims to foster the growth of innovative businesses and contribute to the economic development of the Canadian landscape.
5, Place Ville Marie, Suite 100 Montreal, Quebec H3B 5E7
Dinar Ahmed
Principal
Phil Anzarut
Partner, Co-Investment Fund
Daniel Armali
Analyst, Healthcare Venture Fund
Réjean Asselin
Assistant Vice President, Portfolio Management - Growth and Transition Capital
Dominique Bélanger
Managing Partner, Co-Investments
Amine Benmoussa
Principal
Disha Bhargav
Associate Director, Fund Investment
Jeremy Billan
Partner, Growth Equity Partners
Tony Bommel
Senior Managing Partner
Ela Borenstein
Vice President, Venture Capital Incentivized Programs
Cheri Corbett
Director
Kristina D'Amico
Director, Fund Investments
Kyle Feucht
Managing Director, Growth and Transition Capital
Ajay Gopal
Associate Director
Saif Hashmi
Principal, Seed Fund and IT Venture Fund
Vivian Kan
Partner
Karim Kennedy
Director - Cleantech Practice
Leonard Kofman
Partner, Intellectual Property-Backed Financing
Siddartha Krishnan
Principal
Lily Lam
Director, Fund Investments
Larry Lam
Partner, ICE Technology Venture Fund
Charles Lespérance
Partner
Sandy Li
Associate
Mark Lunick
Senior Director, Growth and Transition Capital
Dion Madsen
Senior Managing Partner
Benoît Mignacco
Vice President, Portfolio Management Growth and Transition Capital
Simon Mills
Director, Growth and Transition Capital
Claude Miron
Managing Partner - Growth Equity Partners
Anamika Mukherjee
Partner of Industrial, Clean and Energy Technology Venture Fund
Alison Nankivell
Vice President, Fund Investments and Global Scaling
Jérôme Nycz
EVP, BDC Capital
Thomas Park
BDC Capital’s Deep Tech Venture Fund Partner
Jean-Philippe Poissant
Managing Director, Growth and Transition Capital
Matt Price
Managing Director, Growth and Transition Capital
Salman Qadir
Senior Associate
Loren Rafeson
Partner
Karl Reckziegel
Senior Vice President
Joseph Regan
Managing Partner, Industrial Innovation Fund
Lally Rementilla
Managing Partner
Susan Rohac
Managing Partner, Climate Tech Fund
Paul Ryan
Senior Director
Victor Scutaru
Managing Director, Private Equity Funds Portfolio
Robert Simon
Senior Managing Partner
Matt Stanley
Director, Cleantech Practice
Stephanie Tadros
Associate Director, Fund Investments
Zoltan Tompa
Director, Cleantech Practice
Ron Warburton
Managing Partner
Ronald Warburton
Managing Partner, BDC IT Venture Fund and Seed Fund
Brian Whiteway
Senior Director, Growth and Transition Capital
Angelo Zeni
Managing Director, Growth and Transition Capital
Bharat Srinivasa
Analyst, Healthcare Venture Fund
Michelle Scarborough
Managing Director
Past deals in Quebec
Félix & Paul Studios
Venture Round in 2024
Félix & Paul studios is focused on the creation of cinematic virtual reality experiences. Led by directors and visual artists Félix Lajeunesse and Paul Raphaël, the Montreal-based studio has developed an industry-leading technology platform for virtual reality filming and a unique, pioneering and in-depth approach to the new art of virtual reality storytelling. The studio’s creations set the highest quality standards in the field and offer viewers a fully immersive sense of presence, time and space yet to be achieved on any other media platform. In 2006, the two directors first joined creative forces to produce award-winning stereoscopic 3D films, multimedia installations and commercials across the globe. Today, Félix and Paul, alongside a fully-operating team of artists, software developers and engineers, have developed a proprietary 3D 360º camera with accompanying software, which set the industry standard for the highest-quality VR filmmaking. As producers of both original content or in collaboration with existing intellectual properties—audiences are invited into intimate, visceral and emotive cinematic experiences. This new kind of storytelling offers viewers a fully immersive sense of presence, time and space yet to be achieved on any other media platform. Recently, the studio announced a content creation partnership with Oculus, and directed and co-produced Jurassic World: Apatosaurus with Universal Studios and Inside the Box of Kurios alongside Cirque du Soleil Media. Félix & Paul Studios launched in 2013as a two-person venture and has since grown into a fully-operating team of twenty artisans.
LeddarTech
Post in 2023
LeddarTech Inc. specializes in advanced detection and ranging systems using time-of-flight measurement technology with infrared LEDs. The company offers a range of smart sensor modules, including single-element and multi-element systems tailored for various applications, such as industrial, traffic management, and smart home solutions. LeddarTech's technology is particularly focused on enhancing advanced driver assistance systems (ADAS) and autonomous driving by providing perception solutions that integrate data from various sensor types, including cameras and radar. Their flagship platform, LeddarVision™, facilitates the creation of comprehensive 3D environmental models, addressing critical challenges in environmental sensing and perception. With over 140 patents granted or pending, LeddarTech is committed to innovation in the automotive sector, serving original equipment manufacturers (OEMs) and automotive suppliers to accelerate development cycles and improve time-to-market. Founded in 2007 and based in Quebec City, Canada, the company also maintains a research and development office in Toronto.
Puzzle Medical Devices
Series A in 2023
Puzzle Medical Devices Inc., founded in 2018 and based in Montreal, Canada, focuses on developing innovative heart pump technologies for treating advanced heart failure. The company's flagship product, the ModulHeart, is a modular percutaneous heart pump designed to reduce cardiac afterload and enhance renal perfusion in patients who are not candidates for heart transplant or surgical mechanical circulatory support. Its unique design allows for multiple pumps to be anchored in parallel within the descending aorta, facilitating hemodynamic support while minimizing risks associated with traditional procedures, such as bleeding and stroke. The ModulHeart aims to improve patient outcomes by providing sustained symptom relief, reducing hospital readmissions, and enhancing overall quality of life. Puzzle Medical has made significant progress, including completing its first-in-human study with positive results in cardiac and kidney function, receiving FDA Breakthrough Device Designation, and establishing a strong network of Key Opinion Leaders in the field.
Vention
Series C in 2022
Vention Inc. is a digital manufacturing platform based in Montreal, Canada, that simplifies the design and ordering of custom machines. Established in 2016, the company provides a cloud-based 3D Machine Builder, which allows engineers and manufacturing professionals to design, order, and assemble custom factory equipment quickly. This platform features an extensive library of modular parts, including structural, motion, and control components, facilitating the creation of automated equipment, robot cells, tooling, and conveyors. Additionally, Vention's offerings include MachineMotion, which aids both automation specialists and novices in automating their designs. By integrating artificial intelligence to enhance the design process, Vention enables users to program, simulate, and commission automated equipment within a single digital environment, making industrial automation more accessible.
Talent.com
Series B in 2022
Talent.com is a platform that centralizes jobs available on companies' career websites, staffing agencies, or job boards. The company was founded in 2020 and is headquartered in Montreal, Quebec, Canada.
LeddarTech
Series D in 2022
LeddarTech Inc. specializes in advanced detection and ranging systems using time-of-flight measurement technology with infrared LEDs. The company offers a range of smart sensor modules, including single-element and multi-element systems tailored for various applications, such as industrial, traffic management, and smart home solutions. LeddarTech's technology is particularly focused on enhancing advanced driver assistance systems (ADAS) and autonomous driving by providing perception solutions that integrate data from various sensor types, including cameras and radar. Their flagship platform, LeddarVision™, facilitates the creation of comprehensive 3D environmental models, addressing critical challenges in environmental sensing and perception. With over 140 patents granted or pending, LeddarTech is committed to innovation in the automotive sector, serving original equipment manufacturers (OEMs) and automotive suppliers to accelerate development cycles and improve time-to-market. Founded in 2007 and based in Quebec City, Canada, the company also maintains a research and development office in Toronto.
Aifred Health
Seed Round in 2020
Aifred Health Inc. is a Montreal-based company that specializes in developing a deep-learning clinical decision support tool aimed at enhancing personalized medicine in psychiatry. Founded in 2017, Aifred Health addresses the longstanding challenges associated with the trial-and-error approach to treatment selection in depression, which is a leading cause of medical impairment. The company's application software features treatment prediction, interpretability, patient data tracking, and electronic patient record capabilities. By processing de-identified data, Aifred's AI model generates tailored therapeutic options for individual patients, enabling clinicians to make more informed decisions among various treatment options that may appear effective at a population level but vary significantly in effectiveness for individuals.
Hopper
Venture Round in 2020
Hopper Inc. is a travel technology company that operates a mobile application designed to enhance the travel planning experience. Founded in 2007 and headquartered in Montreal, Canada, with additional offices in the United States and Bulgaria, Hopper utilizes big data and predictive analytics to analyze and forecast airfares and accommodations. The application provides users with travel recommendations and alerts them when flight and hotel prices reach their predicted lowest points, enabling travelers to secure the best deals. By leveraging historical travel data, Hopper aims to simplify the booking process and help users save money while planning their trips.
Bus.com
Series B in 2019
Bus.com is a bus rental platform that simplifies the planning and booking of group transportation online. Founded by travel industry veterans and based in Montreal, Quebec, the company provides an easy-to-use web application for organizing and managing bus trips. Its services include online rental, ticketing, and GPS tracking, allowing passengers to stay informed about their bus's arrival times. Bus.com is particularly focused on facilitating charter bus trips for various events, such as festivals and sporting occasions, thereby enhancing the overall travel experience for users.
Ace services mécaniques
Convertible Note in 2019
Founded in 2010 by Sébastien Bédard and Pascal Rochette—two professional technicians with an entrepreneurial flair, ACE offers specialized mobile mechanical services for heavy equipment. The two co-founders bring with them over 20 years of experience working with all types of machinery. Their work in dealerships, mining and various other areas has allowed them to acquire a solid base of experience. Ambitious, passionate, enterprising: three words that sum up these men and their project! Their goal? To turn ACE Mechanic Services into Quebec’s largest general service provider for heavy equipment. And they are well on their way!
Sheertex
Seed Round in 2019
Sheertex Inc. is a Montreal-based company that specializes in manufacturing and selling women's tights, as well as other apparel such as masks and shorts for both men and women. Founded in 2017, Sheertex focuses on creating durable products made from a unique polymer fiber similar to that used in bulletproof vests and climbing gear. This innovative material provides both strength and comfort, appealing to consumers looking for premium and stylish innerwear. The company's products are available for purchase exclusively online, catering to a modern retail environment.
Effenco
Series A in 2018
Effenco is an autotech company focused on the electrification of heavy-duty vehicles and connected mobility within the transport sector. Established in 2006 and headquartered in Montréal, Quebec, the company has developed the Active-Stop-Start electric hybrid technology, which enhances the energy efficiency of heavy goods vehicles and reduces greenhouse gas emissions by 30%. This innovative system utilizes ultracapacitor-based technology to electrify the propulsion and on-board equipment of vocational trucks. Effenco's solution automatically shuts down the engine when vehicles are stationary, providing electric power to essential systems such as heating, ventilation, and air conditioning. By eliminating engine use during idling, the technology significantly lowers operational costs and environmental impact, making it an attractive option for both existing and new heavy-duty vehicles. Effenco operates in the United States and Europe, leveraging extensive real-world operating data and advanced AI algorithms to support its mission of fostering a sustainable future in the transport industry.
LeddarTech
Convertible Note in 2018
LeddarTech Inc. specializes in advanced detection and ranging systems using time-of-flight measurement technology with infrared LEDs. The company offers a range of smart sensor modules, including single-element and multi-element systems tailored for various applications, such as industrial, traffic management, and smart home solutions. LeddarTech's technology is particularly focused on enhancing advanced driver assistance systems (ADAS) and autonomous driving by providing perception solutions that integrate data from various sensor types, including cameras and radar. Their flagship platform, LeddarVision™, facilitates the creation of comprehensive 3D environmental models, addressing critical challenges in environmental sensing and perception. With over 140 patents granted or pending, LeddarTech is committed to innovation in the automotive sector, serving original equipment manufacturers (OEMs) and automotive suppliers to accelerate development cycles and improve time-to-market. Founded in 2007 and based in Quebec City, Canada, the company also maintains a research and development office in Toronto.
Hopper
Series D in 2018
Hopper Inc. is a travel technology company that operates a mobile application designed to enhance the travel planning experience. Founded in 2007 and headquartered in Montreal, Canada, with additional offices in the United States and Bulgaria, Hopper utilizes big data and predictive analytics to analyze and forecast airfares and accommodations. The application provides users with travel recommendations and alerts them when flight and hotel prices reach their predicted lowest points, enabling travelers to secure the best deals. By leveraging historical travel data, Hopper aims to simplify the booking process and help users save money while planning their trips.
NestReady
Venture Round in 2018
NestReady Inc. is a real estate technology company that creates an integrated marketplace for mortgage lenders and homebuyers, enhancing the home buying experience. Founded in 2012 and based in Montreal, Canada, NestReady's platform connects all stages of the home buying journey, allowing lenders to build relationships with clients and track their progress effectively. By combining mortgage services with real estate, the platform simplifies the process for users, facilitating better understanding of client needs. This integration helps mortgage lenders reduce customer acquisition costs while improving conversion rates and retention on renewals. NestReady's white-label, plug-and-play solution enables lenders to offer a comprehensive home buying service directly on their own websites.
Composites Vci
Venture Round in 2018
Composites Vci is a transportation environmental consulting company located in Saint-lin-laurentides.
GSM Project
Venture Round in 2018
GSM Project Inc. is a design and production firm based in Montreal, Canada, with additional offices in Singapore and Dubai. Established in 1958, the company specializes in creating exhibitions for museums, observation decks, and various public spaces. It offers a comprehensive suite of services, including strategy and planning, research, design, multimedia content creation, technical development, project management, and the maintenance and operation of exhibition sites. By leveraging an internal multidisciplinary team and collaborating with partners across industries such as science centers and real estate developers, GSM Project aims to deliver immersive and educational visitor experiences that meet the evolving demands of exhibition design.
Keatext
Seed Round in 2018
Keatext Inc. is a Montreal-based company that offers a cloud-based text analytics platform designed to enhance business performance by analyzing customer feedback from various sources. Established in 2010, Keatext utilizes artificial intelligence and natural language processing to synthesize large volumes of unstructured data, such as open-survey responses, online reviews, chat logs, and social media posts. The platform provides clients with actionable insights through a comprehensive dashboard, enabling them to understand customer sentiments and identify key areas for improvement. By delivering instant clarity on customer preferences and needs, Keatext empowers businesses to cultivate meaningful relationships with their customers and respond effectively to their feedback.
Element AI
Series A in 2017
Element AI Inc. is an artificial intelligence company that provides solutions for organizations seeking to leverage AI and machine learning technologies. Founded in 2016 and headquartered in Montreal, Canada, with an additional office in Toronto, the company operates an AI as a Service (AIaaS) platform, allowing businesses to launch and incubate AI solutions in collaboration with large corporations. Element AI focuses on delivering AI software products that enhance decision-making and operational efficiency across various sectors, including insurance, banking, manufacturing, logistics, retail, and consumer packaged goods. The company emphasizes research and development, maintaining strong ties to academia, and engages in policy discussions regarding the societal impacts of technology. Through its offerings, Element AI aims to help clients unlock insights, accelerate the adoption of AI, and improve overall business performance with explainable solutions.
Bus.com
Series A in 2017
Bus.com is a bus rental platform that simplifies the planning and booking of group transportation online. Founded by travel industry veterans and based in Montreal, Quebec, the company provides an easy-to-use web application for organizing and managing bus trips. Its services include online rental, ticketing, and GPS tracking, allowing passengers to stay informed about their bus's arrival times. Bus.com is particularly focused on facilitating charter bus trips for various events, such as festivals and sporting occasions, thereby enhancing the overall travel experience for users.
Dialogue Health Technologies
Seed Round in 2017
Dialogue Health Technologies operates a comprehensive virtual care platform that provides employee wellness and health solutions for Canadian employers. Founded in 2016 and based in Montreal, the company offers a variety of services aimed at enhancing employee engagement and health. Its platform allows employees to interact with healthcare professionals, including nurses and doctors, for support in physical and mental health. Additionally, the platform facilitates care navigation, medication delivery, and referrals to specialists. By empowering employees to take charge of their health, Dialogue Health Technologies helps businesses create a healthier workforce, leading to increased productivity and overall employee satisfaction.
Sofdesk
Series A in 2017
Sofdesk Inc. is a software company based in Montreal, Canada, that specializes in developing sales acceleration solutions for the solar, roofing, and utilities sectors. Founded in 2013, the company provides intuitive web applications designed to help small to medium-sized businesses enhance their infrastructure and scale operations. Its flagship products include SolarGraf, which assists solar installers in managing leads and proposals, and RoofGraf, tailored for roofing companies to streamline their business development efforts. By offering centralized and user-friendly tools, Sofdesk aims to reduce operational costs and improve efficiency in these industries.
Next AI
Venture Round in 2017
Next AI is a world-class founder and venture development acceleration network for AI-enabled startups. Founders can be part of the ecosystem from anywhere in Canada, following the program remotely or in-person from the Toronto or Montreal sites. Taking advantage of a renowned network of AI and business experts, Next AI provides support on both AI product development and market commercialisation. Each year, we identify the top early-stage teams developing ambitious AI-powered solutions and we provide them with the mentorship, education and network to have a global impact.
Hopper
Series C in 2016
Hopper Inc. is a travel technology company that operates a mobile application designed to enhance the travel planning experience. Founded in 2007 and headquartered in Montreal, Canada, with additional offices in the United States and Bulgaria, Hopper utilizes big data and predictive analytics to analyze and forecast airfares and accommodations. The application provides users with travel recommendations and alerts them when flight and hotel prices reach their predicted lowest points, enabling travelers to secure the best deals. By leveraging historical travel data, Hopper aims to simplify the booking process and help users save money while planning their trips.
Transit
Seed Round in 2016
Transit is a mobile app intended to help its users navigate their cities. Transit simplifies local travel in 125 cities worldwide. Upon launch, the bright, intuitive interface shows all nearby transportation options and departures. Users can plan trips, set reminders, and get notifications about disruptions. Plus, Transit also integrates other sustainable transport modes -- bike sharing, car sharing and Uber -- so users can determine the best way to get from A to B. With millions of active users in the US and Canada, Transit has emerged as the leading urban transit app in North America. The company is based in Montreal, Quebec.
DERYtelecom
Venture Round in 2016
DERYtelecom Inc. is a telecommunications company based in La Baie, Quebec, specializing in cable distribution and a hybrid fiber network. Founded in 1954, the company offers a range of services, including Internet access, website hosting, and phone services, which have been deployed across most of its territories. DERYtelecom focuses on optimizing and expanding its cable network while also providing mobile, television, and ADSL services, catering to the communication needs of its customers in the Saguenay region.
Transit
Seed Round in 2015
Transit is a mobile app intended to help its users navigate their cities. Transit simplifies local travel in 125 cities worldwide. Upon launch, the bright, intuitive interface shows all nearby transportation options and departures. Users can plan trips, set reminders, and get notifications about disruptions. Plus, Transit also integrates other sustainable transport modes -- bike sharing, car sharing and Uber -- so users can determine the best way to get from A to B. With millions of active users in the US and Canada, Transit has emerged as the leading urban transit app in North America. The company is based in Montreal, Quebec.
SourceKnowledge
Debt Financing in 2015
SourceKnowledge is a Montreal-based company that operates a programmatic video platform focused on measuring success through post-click behavior. It provides a range of services including Reach, a self-serve video advertising platform; Engage, a performance marketing platform; Cross-Serve, which delivers campaigns across multiple devices; and RunSafe, a brand safety suite. The company aids e-commerce brands in boosting sales by advertising their products on premium digital channels, utilizing proprietary algorithms and machine learning for campaign management. SourceKnowledge emphasizes data transparency, offering clients online analytics and order ID reporting to optimize ad delivery through refined audience segmentation. Founded in 2009, the company has expanded its presence with offices in Toronto, Vancouver, and Los Angeles, serving a diverse clientele globally.
Bus.com
Seed Round in 2015
Bus.com is a bus rental platform that simplifies the planning and booking of group transportation online. Founded by travel industry veterans and based in Montreal, Quebec, the company provides an easy-to-use web application for organizing and managing bus trips. Its services include online rental, ticketing, and GPS tracking, allowing passengers to stay informed about their bus's arrival times. Bus.com is particularly focused on facilitating charter bus trips for various events, such as festivals and sporting occasions, thereby enhancing the overall travel experience for users.
Crew
Series A in 2015
Crew is a curated platform that connects designers and developers with vetted clients that need a website, mobile app, or other design work. The company's highly trusted network of independent creatives has worked on products used by tens of millions of people for some of the industry's biggest companies, including Apple, Google, Uber, IDEO, and Dropbox. It was founded in 2012 and headquartered in Montréal, Quebec.
Clementia Pharmaceuticals
Venture Round in 2015
Clementia is a clinical-stage company innovating treatments for people with ultra-rare bone disorders. The company develops disease-modifying treatments for patients suffering from debilitating bone and other diseases with a high unmet medical need. The company's lead product candidate, palovarotene, is an oral small molecule that has shown potent activity in preventing abnormal new bone formation as well as fibrosis in a variety of tissues. Clementia Pharmaceuticals was founded in 2012 and is headquartered in Montréal, Quebec.
Budge Studios
Private Equity Round in 2015
Budge Studios Inc. is a Montreal-based company that develops and publishes children's applications for smartphones and tablets. Founded in 2010, the company offers a diverse portfolio of entertaining and educational apps that feature a mix of original and branded content, including popular characters such as Barbie, Thomas & Friends, and Hello Kitty. Budge Studios aims to create safe and age-appropriate gaming experiences for children, fostering creativity and innovation through its engaging puzzles and games. Additionally, the company runs the Budge Playgroup program, which allows parents to participate in the development of new apps, enhancing the creative process.
Clementia Pharmaceuticals
Series A in 2015
Clementia is a clinical-stage company innovating treatments for people with ultra-rare bone disorders. The company develops disease-modifying treatments for patients suffering from debilitating bone and other diseases with a high unmet medical need. The company's lead product candidate, palovarotene, is an oral small molecule that has shown potent activity in preventing abnormal new bone formation as well as fibrosis in a variety of tissues. Clementia Pharmaceuticals was founded in 2012 and is headquartered in Montréal, Quebec.
Hopper
Venture Round in 2015
Hopper Inc. is a travel technology company that operates a mobile application designed to enhance the travel planning experience. Founded in 2007 and headquartered in Montreal, Canada, with additional offices in the United States and Bulgaria, Hopper utilizes big data and predictive analytics to analyze and forecast airfares and accommodations. The application provides users with travel recommendations and alerts them when flight and hotel prices reach their predicted lowest points, enabling travelers to secure the best deals. By leveraging historical travel data, Hopper aims to simplify the booking process and help users save money while planning their trips.
LeddarTech
Venture Round in 2014
LeddarTech Inc. specializes in advanced detection and ranging systems using time-of-flight measurement technology with infrared LEDs. The company offers a range of smart sensor modules, including single-element and multi-element systems tailored for various applications, such as industrial, traffic management, and smart home solutions. LeddarTech's technology is particularly focused on enhancing advanced driver assistance systems (ADAS) and autonomous driving by providing perception solutions that integrate data from various sensor types, including cameras and radar. Their flagship platform, LeddarVision™, facilitates the creation of comprehensive 3D environmental models, addressing critical challenges in environmental sensing and perception. With over 140 patents granted or pending, LeddarTech is committed to innovation in the automotive sector, serving original equipment manufacturers (OEMs) and automotive suppliers to accelerate development cycles and improve time-to-market. Founded in 2007 and based in Quebec City, Canada, the company also maintains a research and development office in Toronto.
Execution Labs
Series A in 2014
Execution Labs Inc. is a venture capital firm based in Montreal, Canada, with an additional office in San Francisco, California. Established in 2012, the company specializes in investing in small-to-medium sized independent game studios in the Americas and Europe that develop downloadable titles for mobile, PC, and console platforms. Initially functioning as a hybrid incubator and accelerator, Execution Labs evolved to provide hands-on support and guidance to talented game developers, helping them enhance their entrepreneurial skills. Although the firm is no longer seeking new studio investments, it continues to support a network of established independent game studios, leveraging a team of experts and volunteer mentors to foster growth and success within the gaming industry.
Clementia Pharmaceuticals
Series A in 2014
Clementia is a clinical-stage company innovating treatments for people with ultra-rare bone disorders. The company develops disease-modifying treatments for patients suffering from debilitating bone and other diseases with a high unmet medical need. The company's lead product candidate, palovarotene, is an oral small molecule that has shown potent activity in preventing abnormal new bone formation as well as fibrosis in a variety of tissues. Clementia Pharmaceuticals was founded in 2012 and is headquartered in Montréal, Quebec.
Kitfox Games
Pre Seed Round in 2014
Kitfox Games is an independent game studio based in Montreal, focused on developing and publishing high-quality, narrative-driven games that allow players to explore new worlds and engage with compelling stories. The company is known for its commitment to creativity and innovation in the gaming industry, with notable projects including "Shattered Planet" and "Moon Hunters." Kitfox Games prides itself on its diverse team, with members hailing from various countries, united by a passion for creating immersive gaming experiences.
Provender
Seed Round in 2013
Provender is an online platform that enables farmers to create direct-trade associations with buyers. The platform allows farmers to quantify and organize their yields, and make that data accessible to buyers everywhere. Provender was founded in April 2013 and is based in Montréal, Quebec.
Bunch
Venture Round in 2013
Bunch is a social networking company based in Montreal, Canada, that offers a mobile platform for users to connect with like-minded individuals around specific topics of interest. The platform allows members to join up to three "bunches," which are networks defined by particular themes, facilitating engagement through the sharing of relevant content and comments. Bunch aims to enhance social media by creating a space for in-depth discussions, enabling users to foster intellectual conversations and remain updated on their favorite subjects. Membership is free, and users can access the platform by visiting the company's website or downloading the app from the App Store across North America.
reelyActive
Seed Round in 2012
ReelyActive is a technology company based in Montreal, Canada, specializing in real-time location and context data solutions. Founded in 2012, it offers an open-source platform that allows businesses to utilize existing in-building infrastructure to track the location of radio-identifiable devices. This technology enables organizations to observe who or what is present in a physical space and how they interact within it, ultimately enhancing operational efficiency and the overall human experience. ReelyActive focuses on translating real-world states into a format that can be easily integrated into digital systems, supporting a flexible approach to digital transformation. The company's mission centers on unlocking the value of shared data, aiming to create a future where machine-contextual awareness serves humanity effectively.
Execution Labs
Seed Round in 2012
Execution Labs Inc. is a venture capital firm based in Montreal, Canada, with an additional office in San Francisco, California. Established in 2012, the company specializes in investing in small-to-medium sized independent game studios in the Americas and Europe that develop downloadable titles for mobile, PC, and console platforms. Initially functioning as a hybrid incubator and accelerator, Execution Labs evolved to provide hands-on support and guidance to talented game developers, helping them enhance their entrepreneurial skills. Although the firm is no longer seeking new studio investments, it continues to support a network of established independent game studios, leveraging a team of experts and volunteer mentors to foster growth and success within the gaming industry.
Alethia Biotherapeutics
Series B in 2012
Alethia BioTherapeutics, Inc. is a biotechnology company based in Montreal, Canada, specializing in the discovery and development of monoclonal antibody-based therapeutics. The company focuses on critical areas such as cancer-associated epithelial-to-mesenchymal transition, ovarian cancer, and cancer-induced bone loss. Its product portfolio includes Isogranulatimide, a G2 checkpoint inhibitor that enhances the efficacy of various DNA-damaging chemotherapeutic agents, and sCLU, a glycoprotein linked to several malignancies, including prostate and breast cancers. Additionally, Alethia BioTherapeutics offers AB-0447, which targets a specific antigen prevalent in over eighty-five percent of ovarian cancer cases, and AB-0440, a protein that plays a role in osteoclast differentiation. Established in 2002, the company employs patented STAR discovery technology to develop therapeutics aimed at invasive carcinomas and associated complications.
FounderFuel
Convertible Note in 2012
FounderFuel is a mentor-driven venture accelerator based in Montreal, Canada, founded in 2011 by Real Ventures. The company offers a four-month intensive program designed to support new startups in their development journey. Through access to a network of experienced entrepreneurs, operators, and executives, FounderFuel helps participating companies refine their visions, expand their networks, and accelerate their progress. The program emphasizes technology, with a particular focus on leveraging artificial intelligence and machine learning. By providing seed funding and strategic guidance, FounderFuel aims to empower startups to navigate the challenges of the venture landscape effectively.
Clementia Pharmaceuticals
Seed Round in 2012
Clementia is a clinical-stage company innovating treatments for people with ultra-rare bone disorders. The company develops disease-modifying treatments for patients suffering from debilitating bone and other diseases with a high unmet medical need. The company's lead product candidate, palovarotene, is an oral small molecule that has shown potent activity in preventing abnormal new bone formation as well as fibrosis in a variety of tissues. Clementia Pharmaceuticals was founded in 2012 and is headquartered in Montréal, Quebec.
Beyond the Rack
Series B in 2011
Beyond the Rack is a Montreal-based online shopping platform that functions as a private shopping club, offering exclusive deals on a wide range of products including apparel, accessories, fragrances, home goods, and electronics. With approximately 15 million active members in Canada and the United States, the platform features flash sales that provide discounts of up to 80% on designer and fast fashion items, all without a retail middleman. The company collaborates with over 3,000 brands to host 15-25 sales daily, which typically last between 48 to 72 hours or until items sell out. Membership is free and can be obtained through the website, promotional partners, or referrals from existing members. Beyond the Rack is recognized for its responsive customer service and efficient shipping, contributing to its reputation as a leading online retailer in the fashion industry.
Alethia Biotherapeutics
Series A in 2010
Alethia BioTherapeutics, Inc. is a biotechnology company based in Montreal, Canada, specializing in the discovery and development of monoclonal antibody-based therapeutics. The company focuses on critical areas such as cancer-associated epithelial-to-mesenchymal transition, ovarian cancer, and cancer-induced bone loss. Its product portfolio includes Isogranulatimide, a G2 checkpoint inhibitor that enhances the efficacy of various DNA-damaging chemotherapeutic agents, and sCLU, a glycoprotein linked to several malignancies, including prostate and breast cancers. Additionally, Alethia BioTherapeutics offers AB-0447, which targets a specific antigen prevalent in over eighty-five percent of ovarian cancer cases, and AB-0440, a protein that plays a role in osteoclast differentiation. Established in 2002, the company employs patented STAR discovery technology to develop therapeutics aimed at invasive carcinomas and associated complications.
Beyond the Rack
Series A in 2010
Beyond the Rack is a Montreal-based online shopping platform that functions as a private shopping club, offering exclusive deals on a wide range of products including apparel, accessories, fragrances, home goods, and electronics. With approximately 15 million active members in Canada and the United States, the platform features flash sales that provide discounts of up to 80% on designer and fast fashion items, all without a retail middleman. The company collaborates with over 3,000 brands to host 15-25 sales daily, which typically last between 48 to 72 hours or until items sell out. Membership is free and can be obtained through the website, promotional partners, or referrals from existing members. Beyond the Rack is recognized for its responsive customer service and efficient shipping, contributing to its reputation as a leading online retailer in the fashion industry.
Leap Medical
Seed Round in 2010
Leap Medical, Inc. engages in designing, developing, manufacturing, and marketing products that provide the earliest possible indicators of a patient's medical condition. The company is based in Montreal, Canada.
LeddarTech
Series A in 2010
LeddarTech Inc. specializes in advanced detection and ranging systems using time-of-flight measurement technology with infrared LEDs. The company offers a range of smart sensor modules, including single-element and multi-element systems tailored for various applications, such as industrial, traffic management, and smart home solutions. LeddarTech's technology is particularly focused on enhancing advanced driver assistance systems (ADAS) and autonomous driving by providing perception solutions that integrate data from various sensor types, including cameras and radar. Their flagship platform, LeddarVision™, facilitates the creation of comprehensive 3D environmental models, addressing critical challenges in environmental sensing and perception. With over 140 patents granted or pending, LeddarTech is committed to innovation in the automotive sector, serving original equipment manufacturers (OEMs) and automotive suppliers to accelerate development cycles and improve time-to-market. Founded in 2007 and based in Quebec City, Canada, the company also maintains a research and development office in Toronto.
Resonant Medical
Venture Round in 2010
Resonant Medical develops, manufactures, and commercializes 3D ultrasound image-guided adaptive radiotherapy products. Its products include Clarity Breast System, an IGRT solution for precise non-ionizing guidance for boost and conformal breast treatments; Clarity Prostate System, an IGRT solution for precise non-invasive guidance for prostate treatments; and Multi-Anatomy System, an IGRT solution for precise non-invasive guidance for soft tissue anatomy IGRT treatments, such as gyne and bladder. Resonant Medical serves physicians, physicists, therapists, and administrators. Fred Francis, Anthony Falco, Luc Sirois, and François Perraton founded it in 2000, with its headquarters in Montreal in Canada, and Elekta acquired it as of May 31, 2010.
Alethia Biotherapeutics
Seed Round in 2008
Alethia BioTherapeutics, Inc. is a biotechnology company based in Montreal, Canada, specializing in the discovery and development of monoclonal antibody-based therapeutics. The company focuses on critical areas such as cancer-associated epithelial-to-mesenchymal transition, ovarian cancer, and cancer-induced bone loss. Its product portfolio includes Isogranulatimide, a G2 checkpoint inhibitor that enhances the efficacy of various DNA-damaging chemotherapeutic agents, and sCLU, a glycoprotein linked to several malignancies, including prostate and breast cancers. Additionally, Alethia BioTherapeutics offers AB-0447, which targets a specific antigen prevalent in over eighty-five percent of ovarian cancer cases, and AB-0440, a protein that plays a role in osteoclast differentiation. Established in 2002, the company employs patented STAR discovery technology to develop therapeutics aimed at invasive carcinomas and associated complications.
Bluestreak Technology
Series D in 2007
Bluestreak Technology, Inc. is a developer of media applications and software solutions for over-the-top and managed video services across various connected devices, including televisions, set-top boxes, smartphones, and tablets. Its flagship products include the MachBlue platform, which enables content owners and network operators to deliver video services, and MachBlue Smart Runtime Classic, designed for creating experiences using Adobe Flash applications. The company also offers MachBlue Studio, an application testing environment that aids in debugging and optimizing applications. Additionally, Bluestreak Technology provides a range of features for digital set-top boxes, such as user interfaces, electronic program guides, video on demand, and live event broadcasting. Founded in 2002 and headquartered in Montreal, Canada, Bluestreak Technology serves a diverse clientele that includes major industry players like Alcatel, Ericsson, and Samsung. The company operates as a subsidiary of Espial Group, Inc.
Prognomix
Venture Round in 2007
Prognomix, Inc. is a personalized medicine company based in Montreal, Canada, established in 2005. It specializes in developing pre-symptomatic diagnostic tools for complications related to Type 2 diabetes by leveraging genomic signatures. The company offers a range of products, including PGX IR01, an in vitro molecular predictive test that assesses the risk of complications in patients with Type 2 diabetes, and PGx GR01, a screening test designed to identify diabetic patients at higher risk for cardiovascular events. Additionally, it provides PGx CD01, which serves as a companion diagnostic for preventing cardiovascular and renal complications, and PGx IR02, an individual risk product. Prognomix aims to address the expansive market for diabetes complications, which is estimated to be around $24 billion in the United States. Through its innovative approach, Prognomix focuses on enhancing physicians' ability to predict complications and tailor therapeutic responses for diabetic patients.
Optosecurity
Series B in 2007
Optosecurity Inc. develops and commercializes security products for the transportation and critical infrastructure markets. It offers OptoScreener, an inline checkpoint security system that automatically detects potential threats, such as weapons and weapon parts, as well as identifies dangerous liquids and gels. Optosecurity Inc. was founded as Optobiometrics, Inc. in 2003 and later changed its name to Optosecurity Inc. in June 2004. The company is based in Quebec, Canada.
Bluestreak Technology
Series C in 2006
Bluestreak Technology, Inc. is a developer of media applications and software solutions for over-the-top and managed video services across various connected devices, including televisions, set-top boxes, smartphones, and tablets. Its flagship products include the MachBlue platform, which enables content owners and network operators to deliver video services, and MachBlue Smart Runtime Classic, designed for creating experiences using Adobe Flash applications. The company also offers MachBlue Studio, an application testing environment that aids in debugging and optimizing applications. Additionally, Bluestreak Technology provides a range of features for digital set-top boxes, such as user interfaces, electronic program guides, video on demand, and live event broadcasting. Founded in 2002 and headquartered in Montreal, Canada, Bluestreak Technology serves a diverse clientele that includes major industry players like Alcatel, Ericsson, and Samsung. The company operates as a subsidiary of Espial Group, Inc.
Angiochem
Venture Round in 2005
AngioChem Inc. is a clinical-stage biotechnology company based in Montreal, Canada, focused on discovering and developing innovative peptide drug conjugates aimed at treating neurological diseases. The company specializes in overcoming the challenges posed by the blood-brain barrier, using its proprietary EPiC platform, which employs a receptor-based approach to facilitate drug delivery to the central nervous system. AngioChem's product pipeline includes ANG1005, a taxane derivative designed to target brain cancer cells, and ANG4043, an anticancer therapy for breast cancer metastases in the brain. Additionally, the company develops peptide antibody conjugates and neurotensin derivatives for managing pain, as well as treatments for lysosomal storage diseases. Founded in 2003, AngioChem is committed to addressing significant medical needs in the realm of CNS disorders.
Optosecurity
Series A in 2005
Optosecurity Inc. develops and commercializes security products for the transportation and critical infrastructure markets. It offers OptoScreener, an inline checkpoint security system that automatically detects potential threats, such as weapons and weapon parts, as well as identifies dangerous liquids and gels. Optosecurity Inc. was founded as Optobiometrics, Inc. in 2003 and later changed its name to Optosecurity Inc. in June 2004. The company is based in Quebec, Canada.
Bluestreak Technology
Series B in 2005
Bluestreak Technology, Inc. is a developer of media applications and software solutions for over-the-top and managed video services across various connected devices, including televisions, set-top boxes, smartphones, and tablets. Its flagship products include the MachBlue platform, which enables content owners and network operators to deliver video services, and MachBlue Smart Runtime Classic, designed for creating experiences using Adobe Flash applications. The company also offers MachBlue Studio, an application testing environment that aids in debugging and optimizing applications. Additionally, Bluestreak Technology provides a range of features for digital set-top boxes, such as user interfaces, electronic program guides, video on demand, and live event broadcasting. Founded in 2002 and headquartered in Montreal, Canada, Bluestreak Technology serves a diverse clientele that includes major industry players like Alcatel, Ericsson, and Samsung. The company operates as a subsidiary of Espial Group, Inc.
Angiochem
Venture Round in 2005
AngioChem Inc. is a clinical-stage biotechnology company based in Montreal, Canada, focused on discovering and developing innovative peptide drug conjugates aimed at treating neurological diseases. The company specializes in overcoming the challenges posed by the blood-brain barrier, using its proprietary EPiC platform, which employs a receptor-based approach to facilitate drug delivery to the central nervous system. AngioChem's product pipeline includes ANG1005, a taxane derivative designed to target brain cancer cells, and ANG4043, an anticancer therapy for breast cancer metastases in the brain. Additionally, the company develops peptide antibody conjugates and neurotensin derivatives for managing pain, as well as treatments for lysosomal storage diseases. Founded in 2003, AngioChem is committed to addressing significant medical needs in the realm of CNS disorders.
Goal Semiconductor
Series A in 2004
Goal Semiconductor is a fabless semiconductor company that designs and develops mixed-signal integrated circuits for the embedded data acquisition market. The company’s products include system-on-a-chip devices used in various applications. Its microcontrollers integrate peripherals into the chips, replacing additional components typically found on circuit boards. Goal Semiconductor offers VERSA MIX, VERSA1, VRS1000, VRS900, VERSA HV100 or 300, VRS540, and VRS700 microcontrollers with minor variations. In addition, the company provides integrated circuit design services such as analog and digital design, physical design and layout, test program development, automated wafer testing, device characterization, and package test. Goal Semiconductor is based in Montréal, Quebec.
Liminal BioSciences
Venture Round in 2001
Liminal BioSciences Inc. is a clinical-stage biopharmaceutical company that specializes in the discovery, development, and commercialization of innovative treatments for patients with unmet medical needs, particularly focusing on rare and orphan diseases. The company operates through two main segments: Small Molecule Therapeutics and Plasma Derived Therapeutics. Its lead product candidate, fezagepras, targets idiopathic pulmonary fibrosis, respiratory diseases, and Alström Syndrome. In the Plasma Derived Therapeutics segment, Liminal BioSciences offers a Plasma Protein Purification System for extracting and purifying therapeutic proteins from human plasma and is developing Ryplazim for congenital plasminogen deficiency. Founded in 1992 and headquartered in Laval, Quebec, the company has a presence in Canada, the United Kingdom, and the United States. It was previously known as Prometic Life Sciences Inc. before rebranding in October 2019.
ConjuChem
Series B in 1999
ConjuChem, LLC is a biotechnology company based in Los Angeles, California, focused on the discovery and development of innovative therapeutics, particularly for diabetes. Originally established as ConjuChem Biotechnologies Inc. in Montreal, Quebec, the company employs its proprietary Drug Affinity Complex (DAC) and Preformed Conjugate-Drug Affinity Complex (PC-DAC) technology platforms to enhance the therapeutic potential of peptides. These platforms enable the creation of new drugs that maintain similar therapeutic activities while extending their duration of action and improving safety profiles. ConjuChem's product pipeline includes CJC-1134-PC, a modified Exendin-4 analogue for type 2 diabetes, a PC-DAC insulin product, and a DAC conjugate aimed at controlling HIV-1 infection. The company is actively involved in research programs and considers partnerships with other biopharmaceutical firms for further development and commercialization of its innovations.
Metrowerks
Venture Round in 1999
Founded in 1985 in Montreal, Canada, and currently headquartered in Austin, Texas, Metrowerks designs, develops, markets and supports professional software development tools used by programmers to create software applications. Metrowerks develops and sells programming tools in four major market segments: the desktop Windows® and Macintosh® market, the embedded proprietary operating systems market, the real-time operating systems ("RTOS")/Windows® CE market and the Java technology market. CodeWarrior has more than 100,000 registered users in 75 countries.
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