BDC Capital

BDC Capital Inc. is the private equity and venture capital arm of the Business Development Bank of Canada, focusing on direct and fund of funds investments. It specializes in various financing options, including subordinate, recapitalization, bridge, and venture capital, targeting middle market, later stage, and small to medium-sized businesses. BDC Capital engages in venture capital activities across all stages, from seed funding to pre-IPO financing, with a particular emphasis on technology and healthcare sectors. Its investment strategy includes a commitment to supporting women-led firms and spans industries such as life sciences, telecommunications, information technology, and advanced technologies. The firm typically invests between CAD 0.1 million and CAD 35 million, often seeking minority stakes and board representation in its portfolio companies. BDC Capital prefers to exit investments within three to five years, utilizing strategies such as initial public offerings and strategic sales. Established in 1975 and headquartered in Montreal, the firm also has offices in British Columbia, Ontario, Quebec, and Alberta, focusing its investments primarily within Canada.

Steven Abrams

Partner

Dinar Ahmed

Partner

Nabil El Asraoui

Associate

Lenka Baloghova

Associate

Amine Benmoussa

Principal

Disha Bhargav

Associate

Jeremy Billan

Partner, Growth Equity Partners

Ela Borenstein

Vice President

Sara Cavalluzzi

Associate

Cheri Corbett

Director

Olivier Côté

Associate

Kristina D’Amico

Director, Fund Investments

Kyle Feucht

Director

Ajay Gopal

Associate Director

Vivian Kan

Partner

Karim Kennedy

Director - Cleantech Practice

Leonard Kofman

Partner, Intellectual Property-Backed Financing

Sandy Li

Associate

Guillaume Mercier

Senior Vice President, Advisory Services and Business Strategy

Mona Minhas

Partner, Thrive Venture Fund

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

Katherine Nicanorova

Associate

Michael Notto

Partner, Growth Equity Partners

Thomas Park

Partner

Salman Qadir

Associate

Loren Rafeson

Partner, Growth Equity Partners

Karl Reckziegel

Senior Vice President, Direct Investments

Joseph Regan

Managing Partner, Industrial Innovation Fund

Lally Rementilla

Managing Partner, IP-Backed Financing

Victor Scutaru

Managing Director, Private Equity Funds Portfolio

Matt Stanley

Partner, Climate Tech Fund

Stephanie Tadros

Associate

Zoltan Tompa

Director, Cleantech Practice

Ron Warburton

Managing Partner

Past deals in Data Mining

Brizo Data

Series A in 2023
Brizo FoodMetrics is a leading data and analytics provider for the foodservice industry. Brizo helps the most competitive restauranteurs and restaurant vendors make better informed decisions and win their market.

Novamera

Series A in 2021
Novamera Inc. engages in mining of gold, copper, and other ores by drilling to recover ore from steeply dipping, narrow vein deposits that are considered uneconomic when applying traditional extraction methods. It combines high resolution subsurface imaging and directional drilling in a two-pass process that identifies the physical shape of the vein for drilling. The company is based in Mississauga, Canada with an additional office in Baie Verte, Canada.

Deeplite

Seed Round in 2021
Deeplite is a Montreal-based company specializing in AI-driven optimization software for deep learning applications. Its flagship product, Neutrino, utilizes a proprietary design space exploration approach to automatically optimize deep neural networks (DNNs), making them smaller, faster, and more energy-efficient. This technology addresses common challenges faced by deep learning models, such as their large size, slow processing speeds, and high energy consumption, which can hinder deployment on compact hardware. Deeplite's solutions cater to various sectors, including automotive, smartphones, smart cameras, and IoT devices, enabling the efficient integration of AI technologies in everyday applications. By focusing on scalability and performance, Deeplite aims to make advanced AI accessible and practical for a wide range of users.

RockMass

Seed Round in 2020
RockMass Technologies is revolutionizing structural mapping by developing a data collection tool made for geologists. The company creates data collection more efficient, accurate and safe for geologists in mining, exploration, civil engineering and education. At RockMass, our goal is to improve geological mapping in the mining, civil engineering, and exploration industries with our revolutionary mapping technologies.

Canvass AI

Series A in 2020
Canvass AI develops a predictive analytics platform that leverages artificial intelligence to enhance industrial operations across various sectors, including food and agriculture, automotive, energy, and metals and mining. The platform automates the data analysis process, enabling companies to gather insights on production efficiency, maintenance, and energy use with ease. By providing actionable insights and real-time guidance, Canvass AI empowers industrial operators to optimize their processes, improve quality, and reduce energy consumption. The technology is designed to facilitate the adoption of AI in industrial settings without requiring extensive data science expertise, thus supporting companies in lowering operational costs, improving profitability, and extending the lifespan of their assets. Founded in 2016 and based in Toronto, Canada, Canvass AI was previously known as Dat-uh Inc. and rebranded in August 2017.

Solink

Series B in 2020
Solink is a data-driven security platform designed to capture and audit video and transactional data with the aim of proactively reducing fraud. The platform features a unique Video Discovery application that allows users to search for specific events, eliminating the need for manual evidence retrieval based on time and location. By automatically matching in-store transactions with video footage, Solink enables users to analyze data and identify suspicious activities effectively. This comprehensive service model provides businesses with the tools necessary to collect, analyze, investigate, and manage their security data remotely, enhancing overall business security.

Deeplite

Seed Round in 2020
Deeplite is a Montreal-based company specializing in AI-driven optimization software for deep learning applications. Its flagship product, Neutrino, utilizes a proprietary design space exploration approach to automatically optimize deep neural networks (DNNs), making them smaller, faster, and more energy-efficient. This technology addresses common challenges faced by deep learning models, such as their large size, slow processing speeds, and high energy consumption, which can hinder deployment on compact hardware. Deeplite's solutions cater to various sectors, including automotive, smartphones, smart cameras, and IoT devices, enabling the efficient integration of AI technologies in everyday applications. By focusing on scalability and performance, Deeplite aims to make advanced AI accessible and practical for a wide range of users.

KorrAI

Pre Seed Round in 2020
Korrai Technologies Ltd. is a digital technology company based in Delta, Canada, founded in 2020. It specializes in developing artificial intelligence software tailored for the natural resources and environmental sectors. The company's software interprets air and lidar imagery to provide contextual insights, enabling precision mapping for applications in mining and environmental monitoring. Its AI tools generate pre-trained footprint features and learner solutions, facilitating assessments in various areas such as quarries, mines, waterbodies, forestry, and infrastructure. Korrai's platform also offers satellite-based ground motion monitoring, allowing clients to detect minute changes in the earth's surface and create accurate risk maps. This technology aids businesses in making informed decisions regarding environmental impacts and resource management, addressing challenges related to climate change and land use.

Verafin

Private Equity Round in 2019
Verafin Inc. is a provider of cloud-based software solutions focused on fraud detection and anti-money laundering for financial institutions in North America. The company's flagship platform offers a comprehensive range of tools that enable banks and credit unions to identify potential money laundering or terrorist financing activities through advanced analytics and monitoring of customer transactions. With its capabilities in big data intelligence, visual storytelling, and collaborative investigations, Verafin helps institutions reduce false positive alerts and streamline compliance with regulations. The software also includes features for managing high-risk customers, vendor relationships, and reporting suspicious activities. Verafin is utilized by over 2,600 financial institutions and has established partnerships with various banking associations across the United States. Founded in 2003 and headquartered in Saint John's, Canada, Verafin continues to support financial institutions in their efforts to combat financial crime.

BlueDot

Series A in 2019
BlueDot Inc. specializes in data analytics solutions aimed at tracking and managing infectious diseases. Founded in 2008 and based in Toronto, Canada, the company utilizes a combination of human expertise and artificial intelligence to analyze a wide range of data, including disease outbreaks, healthcare facilities, population demographics, and environmental factors. By integrating these datasets with proprietary algorithms, BlueDot provides critical insights that help governments, healthcare organizations, and businesses protect their populations and mitigate the risks associated with infectious diseases. The company's early warning system is designed to anticipate disease threats and support effective responses, addressing an increasingly urgent public health challenge.

Delve Labs

Venture Round in 2019
Delve Laboratories, Inc. is a cybersecurity company based in Montreal, Canada, founded in 2014. It specializes in developing vulnerability assessment and management solutions aimed at enhancing the efficiency of cybersecurity and IT teams. The company offers a unified platform that automates key processes such as asset discovery, vulnerability scanning, identification, prioritization, and remediation. By leveraging artificial intelligence, Delve's solutions prioritize vulnerabilities in a contextual manner, allowing organizations to focus their remediation efforts effectively. This approach reduces the manual workload typically associated with vulnerability management, streamlining operations and minimizing risk. Delve Laboratories operates as a subsidiary of SecureWorks Corp.

ReelData

Seed Round in 2019
ReelData AI develops artificial intelligence software specifically designed for aquaculture, focusing on monitoring finned fish. The company's technology enables fish farms to assess biomass, monitor sea lice, and evaluate fish health in real-time. By providing insights into weight distributions, feeding patterns, and growth, ReelData AI's solutions help optimize fish health and reduce feed consumption. Established in 2019 and headquartered in Halifax, Canada, ReelData AI is committed to enhancing operational efficiency within the aquaculture industry.

Solink

Series A in 2019
Solink is a data-driven security platform designed to capture and audit video and transactional data with the aim of proactively reducing fraud. The platform features a unique Video Discovery application that allows users to search for specific events, eliminating the need for manual evidence retrieval based on time and location. By automatically matching in-store transactions with video footage, Solink enables users to analyze data and identify suspicious activities effectively. This comprehensive service model provides businesses with the tools necessary to collect, analyze, investigate, and manage their security data remotely, enhancing overall business security.

Canvass AI

Seed Round in 2018
Canvass AI develops a predictive analytics platform that leverages artificial intelligence to enhance industrial operations across various sectors, including food and agriculture, automotive, energy, and metals and mining. The platform automates the data analysis process, enabling companies to gather insights on production efficiency, maintenance, and energy use with ease. By providing actionable insights and real-time guidance, Canvass AI empowers industrial operators to optimize their processes, improve quality, and reduce energy consumption. The technology is designed to facilitate the adoption of AI in industrial settings without requiring extensive data science expertise, thus supporting companies in lowering operational costs, improving profitability, and extending the lifespan of their assets. Founded in 2016 and based in Toronto, Canada, Canvass AI was previously known as Dat-uh Inc. and rebranded in August 2017.

Solink

Venture Round in 2017
Solink is a data-driven security platform designed to capture and audit video and transactional data with the aim of proactively reducing fraud. The platform features a unique Video Discovery application that allows users to search for specific events, eliminating the need for manual evidence retrieval based on time and location. By automatically matching in-store transactions with video footage, Solink enables users to analyze data and identify suspicious activities effectively. This comprehensive service model provides businesses with the tools necessary to collect, analyze, investigate, and manage their security data remotely, enhancing overall business security.

PHEMI

Series B in 2017
PHEMI Systems Corporation specializes in developing a privacy, security, governance, and data management system tailored for Microsoft Azure. Founded in 2013 and based in Vancouver, Canada, the company provides the PHEMI Data Privacy Manager, a cloud-based solution designed for the healthcare sector. This system addresses the critical need for organizations to secure and govern access to privacy-sensitive information while facilitating compliance with privacy regulations. Optimized for Microsoft Azure, the software connects to numerous data sources and integrates seamlessly with popular data science and business analysis tools. Built on a privacy-by-design architecture, PHEMI Data Privacy Manager supports data sharing and offers a flexible usage-based pricing model, making it scalable for organizations of varying sizes.

Canvass AI

Seed Round in 2017
Canvass AI develops a predictive analytics platform that leverages artificial intelligence to enhance industrial operations across various sectors, including food and agriculture, automotive, energy, and metals and mining. The platform automates the data analysis process, enabling companies to gather insights on production efficiency, maintenance, and energy use with ease. By providing actionable insights and real-time guidance, Canvass AI empowers industrial operators to optimize their processes, improve quality, and reduce energy consumption. The technology is designed to facilitate the adoption of AI in industrial settings without requiring extensive data science expertise, thus supporting companies in lowering operational costs, improving profitability, and extending the lifespan of their assets. Founded in 2016 and based in Toronto, Canada, Canvass AI was previously known as Dat-uh Inc. and rebranded in August 2017.

Delve Labs

Seed Round in 2016
Delve Laboratories, Inc. is a cybersecurity company based in Montreal, Canada, founded in 2014. It specializes in developing vulnerability assessment and management solutions aimed at enhancing the efficiency of cybersecurity and IT teams. The company offers a unified platform that automates key processes such as asset discovery, vulnerability scanning, identification, prioritization, and remediation. By leveraging artificial intelligence, Delve's solutions prioritize vulnerabilities in a contextual manner, allowing organizations to focus their remediation efforts effectively. This approach reduces the manual workload typically associated with vulnerability management, streamlining operations and minimizing risk. Delve Laboratories operates as a subsidiary of SecureWorks Corp.

Diablo Technologies

Series C in 2016
Diablo Technologies is a private fabless semiconductor company established in 2002, specializing in the design of large mixed signal ASIC products that prioritize high data rates, low power consumption, and low latency. The company focuses on developing memory system interface products aimed at next-generation enterprise computing, particularly for data-intensive applications. By leveraging deep sub-micron CMOS technology, Diablo's products enhance the performance of memory systems, accelerating virtualization, database management, financial services, and big data analytics. This advancement enables organizations to achieve greater business value through improved efficiency and resource consolidation in their computing environments.

PHEMI

Series A in 2015
PHEMI Systems Corporation specializes in developing a privacy, security, governance, and data management system tailored for Microsoft Azure. Founded in 2013 and based in Vancouver, Canada, the company provides the PHEMI Data Privacy Manager, a cloud-based solution designed for the healthcare sector. This system addresses the critical need for organizations to secure and govern access to privacy-sensitive information while facilitating compliance with privacy regulations. Optimized for Microsoft Azure, the software connects to numerous data sources and integrates seamlessly with popular data science and business analysis tools. Built on a privacy-by-design architecture, PHEMI Data Privacy Manager supports data sharing and offers a flexible usage-based pricing model, making it scalable for organizations of varying sizes.

PiinPoint

Seed Round in 2014
PiinPoint is a location analytics company that helps business owners discover, compare, and validate locations for expansion. It provides web-based solutions for businesses to identify new locations and forecast future site sales. The company allows its clients to monitor the performance of their current locations and identify key success factors, explore new locations, and generate reports which includes an in-depth analysis into various locations. PiinPoint was founded by Adam Saunders and Jim Robeson in 2013; and is located in Sunnyvale, California.

Privacy Analytics

Seed Round in 2014
Privacy Analytics Inc. specializes in data anonymization software tailored for healthcare organizations, insurance providers, and medical device manufacturers. The company provides solutions that enable the responsible de-identification of both structured and unstructured personal data, facilitating various secondary uses such as research, public health analysis, and marketing while ensuring individual privacy and legal compliance. Its flagship product, PARAT, integrates de-identification and data masking capabilities for clinical and health claims databases. Additionally, Privacy Analytics offers a range of tools, including text anonymization software and an online risk assessment tool to streamline data sharing agreements. The company also provides services such as re-identification risk assessments and anonymization methodology training. Founded in 2007 and based in Ottawa, Canada, Privacy Analytics operates as a subsidiary of IQVIA Holdings Inc.

Diablo Technologies

Venture Round in 2014
Diablo Technologies is a private fabless semiconductor company established in 2002, specializing in the design of large mixed signal ASIC products that prioritize high data rates, low power consumption, and low latency. The company focuses on developing memory system interface products aimed at next-generation enterprise computing, particularly for data-intensive applications. By leveraging deep sub-micron CMOS technology, Diablo's products enhance the performance of memory systems, accelerating virtualization, database management, financial services, and big data analytics. This advancement enables organizations to achieve greater business value through improved efficiency and resource consolidation in their computing environments.

PHEMI

Seed Round in 2014
PHEMI Systems Corporation specializes in developing a privacy, security, governance, and data management system tailored for Microsoft Azure. Founded in 2013 and based in Vancouver, Canada, the company provides the PHEMI Data Privacy Manager, a cloud-based solution designed for the healthcare sector. This system addresses the critical need for organizations to secure and govern access to privacy-sensitive information while facilitating compliance with privacy regulations. Optimized for Microsoft Azure, the software connects to numerous data sources and integrates seamlessly with popular data science and business analysis tools. Built on a privacy-by-design architecture, PHEMI Data Privacy Manager supports data sharing and offers a flexible usage-based pricing model, making it scalable for organizations of varying sizes.

Privacy Analytics

Seed Round in 2013
Privacy Analytics Inc. specializes in data anonymization software tailored for healthcare organizations, insurance providers, and medical device manufacturers. The company provides solutions that enable the responsible de-identification of both structured and unstructured personal data, facilitating various secondary uses such as research, public health analysis, and marketing while ensuring individual privacy and legal compliance. Its flagship product, PARAT, integrates de-identification and data masking capabilities for clinical and health claims databases. Additionally, Privacy Analytics offers a range of tools, including text anonymization software and an online risk assessment tool to streamline data sharing agreements. The company also provides services such as re-identification risk assessments and anonymization methodology training. Founded in 2007 and based in Ottawa, Canada, Privacy Analytics operates as a subsidiary of IQVIA Holdings Inc.

Canopy Labs

Seed Round in 2012
Canopy Labs Software Inc. offers a predictive customer analytics platform designed for small and mid-sized enterprises. Founded in 2012 and based in Toronto, Canada, the company assists businesses in analyzing data to forecast customer preferences and churn rates. The platform enables users to develop customer models, plan sales campaigns, and optimize lead lists, ultimately aiming to enhance revenue and sales growth. By providing tools for marketing strategy and audience analysis, Canopy Labs has supported numerous companies in effectively understanding and engaging with their customers. As of November 2018, Canopy Labs operates as a subsidiary of Drop Technologies Inc.

Diablo Technologies

Funding Round in 2012
Diablo Technologies is a private fabless semiconductor company established in 2002, specializing in the design of large mixed signal ASIC products that prioritize high data rates, low power consumption, and low latency. The company focuses on developing memory system interface products aimed at next-generation enterprise computing, particularly for data-intensive applications. By leveraging deep sub-micron CMOS technology, Diablo's products enhance the performance of memory systems, accelerating virtualization, database management, financial services, and big data analytics. This advancement enables organizations to achieve greater business value through improved efficiency and resource consolidation in their computing environments.

Privacy Analytics

Venture Round in 2012
Privacy Analytics Inc. specializes in data anonymization software tailored for healthcare organizations, insurance providers, and medical device manufacturers. The company provides solutions that enable the responsible de-identification of both structured and unstructured personal data, facilitating various secondary uses such as research, public health analysis, and marketing while ensuring individual privacy and legal compliance. Its flagship product, PARAT, integrates de-identification and data masking capabilities for clinical and health claims databases. Additionally, Privacy Analytics offers a range of tools, including text anonymization software and an online risk assessment tool to streamline data sharing agreements. The company also provides services such as re-identification risk assessments and anonymization methodology training. Founded in 2007 and based in Ottawa, Canada, Privacy Analytics operates as a subsidiary of IQVIA Holdings Inc.

Granify

Venture Round in 2012
Granify Inc., based in Edmonton, Canada, offers a Software-as-a-Service solution designed to help online retailers enhance their sales through advanced big data and machine learning technologies. Its platform, Granify, meticulously analyzes various aspects of a shopper's experience, including their navigation patterns and even minute mouse movements. When it detects potential objections or hesitations from shoppers, Granify automatically introduces relevant messages or stimuli aimed at addressing these concerns and ultimately securing the sale. The solution is compatible with a range of e-commerce platforms, including custom-built websites. Founded in 2011, Granify has garnered support from prominent venture capital firms in Canada and the United States, positioning itself at the forefront of the intersection between artificial intelligence and e-commerce.

Datacratic

Seed Round in 2012
Datacratic, an iPerceptions company, is a leader in providing audience data that helps enterprise brands create more effective and targeted digital marketing campaigns. Datacratic’s Audience Recognition Solution uses visitor feedback to build smarter audience segments that improve the effectiveness of retargeting campaigns. Datacratic’s Audience Optimizer scores 3rd party audiences using 1st party data signals to create high-quality look-alike audiences that increase the reach and performance of digital marketing campaigns. The world’s leading Data Management Platforms integrate with Datacratic including Oracle Data Cloud.

Neuralitic Systems

Series C in 2011
Neuralitic Systems specializes in providing mobile data intelligence technology designed to assist mobile service operators in understanding user behaviors that impact data service adoption. By analyzing mobile data usage patterns, the company enables operators to identify emerging trends and habits, allowing them to better tailor their services to meet customer needs. This insight facilitates improved decision-making related to subscriber acquisition, conversion, and retention, ultimately driving revenue growth in the competitive telecommunications market. Neuralitic Systems’ solutions empower operators to dynamically leverage user behaviors, enhancing their ability to adapt and thrive in a rapidly changing landscape.

Neuralitic Systems

Series B in 2009
Neuralitic Systems specializes in providing mobile data intelligence technology designed to assist mobile service operators in understanding user behaviors that impact data service adoption. By analyzing mobile data usage patterns, the company enables operators to identify emerging trends and habits, allowing them to better tailor their services to meet customer needs. This insight facilitates improved decision-making related to subscriber acquisition, conversion, and retention, ultimately driving revenue growth in the competitive telecommunications market. Neuralitic Systems’ solutions empower operators to dynamically leverage user behaviors, enhancing their ability to adapt and thrive in a rapidly changing landscape.

Neuralitic Systems

Series A in 2008
Neuralitic Systems specializes in providing mobile data intelligence technology designed to assist mobile service operators in understanding user behaviors that impact data service adoption. By analyzing mobile data usage patterns, the company enables operators to identify emerging trends and habits, allowing them to better tailor their services to meet customer needs. This insight facilitates improved decision-making related to subscriber acquisition, conversion, and retention, ultimately driving revenue growth in the competitive telecommunications market. Neuralitic Systems’ solutions empower operators to dynamically leverage user behaviors, enhancing their ability to adapt and thrive in a rapidly changing landscape.

Diablo Technologies

Series B in 2008
Diablo Technologies is a private fabless semiconductor company established in 2002, specializing in the design of large mixed signal ASIC products that prioritize high data rates, low power consumption, and low latency. The company focuses on developing memory system interface products aimed at next-generation enterprise computing, particularly for data-intensive applications. By leveraging deep sub-micron CMOS technology, Diablo's products enhance the performance of memory systems, accelerating virtualization, database management, financial services, and big data analytics. This advancement enables organizations to achieve greater business value through improved efficiency and resource consolidation in their computing environments.

Mobidia Technology

Series A in 2007
Mobidia is the provider of the popular and award-winning My Data Manager iOS and Android application - a solution that helps smartphone users save money on data plans while increasing revenue and reducing costs for mobile operators. Mobidia’s mobile analytics and metrics platform provides unique insights into mobile usage trends while driving the next evolution in application discovery, recommendation and mobile advertising.

Mobidia Technology

Series A in 2005
Mobidia is the provider of the popular and award-winning My Data Manager iOS and Android application - a solution that helps smartphone users save money on data plans while increasing revenue and reducing costs for mobile operators. Mobidia’s mobile analytics and metrics platform provides unique insights into mobile usage trends while driving the next evolution in application discovery, recommendation and mobile advertising.

Diablo Technologies

Series A in 2005
Diablo Technologies is a private fabless semiconductor company established in 2002, specializing in the design of large mixed signal ASIC products that prioritize high data rates, low power consumption, and low latency. The company focuses on developing memory system interface products aimed at next-generation enterprise computing, particularly for data-intensive applications. By leveraging deep sub-micron CMOS technology, Diablo's products enhance the performance of memory systems, accelerating virtualization, database management, financial services, and big data analytics. This advancement enables organizations to achieve greater business value through improved efficiency and resource consolidation in their computing environments.
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