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 Internet of Things
Hexoskin (Carré Technologies)
Venture Round in 2024
Hexoskin makes smart clothing for health, fitness, and wellness. The Hexoskin Bluetooth connected garments make your health status sharable online in real-time and enable digital health and predictive health analytics. www.hexoskin.com
MarineLabs
Seed Round in 2024
MarineLabs is a technology platform focused on delivering real-time data related to marine mobility and coastal intelligence. The company provides a maritime IoT solution that includes the identification and attribution of vessel wakes, along with access to both historical and real-time data through a unified interface. Their CoastAware platform is designed for web, mobile, and API access, allowing clients to optimize maritime operations and enhance marine safety. By utilizing high-resolution information and advanced processing algorithms from a network of compact, cloud-connected marine sensors, MarineLabs aims to help clients understand and mitigate marine hazards, ultimately contributing to improved coastal resilience.
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.
Stathera
Series A in 2023
Stathera is a manufacturer of advanced oscillator boards that aim to revolutionize the global timing market by transitioning from traditional quartz-based devices to MEMS-based technology. The company specializes in true dual-output MEMS oscillators, which replace two quartz oscillators, thereby simplifying system design and contributing to miniaturization, reduced bill of materials, lower current consumption, and overall cost savings. These innovations are particularly beneficial for a range of applications, including wearables, Internet of Things (IoT) devices, and smartphones. By offering ultra-stable, low jitter, and temperature-insensitive output in kHz and MHz frequencies, Stathera helps clients mitigate issues such as premature failure, shorter battery life, and heightened system costs.
Kepler
Series C in 2023
Kepler Communications Inc. specializes in satellite communications by designing, developing, and operating satellite infrastructure for space-based connectivity. The company focuses on creating a network of Low-Earth Orbit satellites that facilitate communication for various applications, including connecting space stations and devices. Its offerings include PolarConnect, which allows organizations in extreme environments to maintain global connectivity, and the Global Data Service, a high-bandwidth solution for transferring large data files from remote locations to the internet. Kepler is also developing everywhereIOT, a solution aimed at providing reliable, low-power connectivity for Internet of Things devices worldwide. Established in 2015 and headquartered in Toronto, Canada, Kepler serves diverse industries such as maritime, natural resources, research, defense, and logistics, positioning itself as a leader in addressing connectivity challenges in both terrestrial and space environments.
Noze
Series A in 2022
Noze is a leader in digital odor perception technology, creating advanced solutions that replicate the human sense of smell. Their sophisticated digital nose utilizes a specialized sensor, developed with NASA technology, to detect and identify odors in various real-world environments. This technology collects and analyzes data through an AI engine, allowing healthcare providers to assess air quality, monitor chemical footprints, and potentially diagnose diseases based on breath-based odor biomarkers. By enabling real-time disease detection and routine health screenings with a single exhale, Noze aims to enhance human health and well-being while improving patient outcomes.
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.
Clear Blue Technologies
Post in 2021
Clear Blue Technologies, the Smart Off-Grid company, combines green energy with the proven advantages of communications and cloud technology to power and control off-grid lighting, security and mobile solutions. We are ushering in a new age of off-grid systems, that deliver the reliability of grid connected systems but are environmentally friendly, less costly, and can be monitored and controlled over the Internet.
ThoughtWire
Debt Financing in 2020
ThoughtWire is a developer of digital twin technology focused on enhancing the efficiency and safety of hospitals, commercial buildings, and cities. Its flagship platform, ThoughtWireOS, integrates data from people, processes, and the physical environment to create smarter spaces. By leveraging this data along with insights from Internet of Things (IoT) devices, ThoughtWire's applications offer real-time guidance and automation for various stakeholders, including clinicians, patients, office workers, and first responders. The company's software solutions aim to unlock the potential of built environments by ensuring energy efficiency, improving operational safety, and enabling proactive issue resolution. Through its innovative approach, ThoughtWire contributes to the development of self-optimizing systems that enhance the overall quality of life in urban settings and workplaces.
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.
Relogix
Seed Round in 2018
Relogix Inc., founded in 2010 and based in Ottawa, Canada, specializes in developing sensor-based devices for monitoring and tracking unused office spaces. The company offers a comprehensive solution that includes UtiLive, a system utilizing space tracking sensors and a machine learning analytics engine for data analysis. Relogix operates on a sensor-as-a-service model, which encompasses floor planning, deployment of sensor devices, and ongoing monitoring through a cloud-based application. The company's offerings are designed to support large enterprises and commercial real estate portfolios, enabling clients to make informed, data-driven decisions regarding their real estate strategies. Relogix's innovative workplace insights platform, Conexus, and advanced IoT occupancy sensors aim to enhance the workplace experience and optimize real estate utilization.
ThoughtWire
Series A in 2018
ThoughtWire is a developer of digital twin technology focused on enhancing the efficiency and safety of hospitals, commercial buildings, and cities. Its flagship platform, ThoughtWireOS, integrates data from people, processes, and the physical environment to create smarter spaces. By leveraging this data along with insights from Internet of Things (IoT) devices, ThoughtWire's applications offer real-time guidance and automation for various stakeholders, including clinicians, patients, office workers, and first responders. The company's software solutions aim to unlock the potential of built environments by ensuring energy efficiency, improving operational safety, and enabling proactive issue resolution. Through its innovative approach, ThoughtWire contributes to the development of self-optimizing systems that enhance the overall quality of life in urban settings and workplaces.
Alert Labs
Funding Round in 2017
Alert Labs Inc., founded in 2015 and headquartered in Kitchener, Canada, specializes in manufacturing water and flood monitoring sensors. As a subsidiary of Watsco, Inc., the company provides cellular-connected home protection technology that allows homeowners to monitor their properties effectively. The sensors are designed to detect water leaks, floods, and power issues, offering real-time data analysis through user-friendly hardware and software. These technologies do not depend on WiFi, enabling seamless connectivity with smartphones for instant alerts and insights. By employing this innovative solution, Alert Labs aims to help customers avoid property damage and reduce costs associated with home maintenance.
Bit Stew Systems
Series C in 2016
Bit Stew Systems Inc. is a data intelligence company that specializes in providing a platform for data integration and management tailored to the needs of industries such as utilities, oil and gas, aviation, and manufacturing. Founded in 2005 and headquartered in Burnaby, Canada, with additional locations in Mountain View, California; Melbourne, Australia; Madrid, Spain; and London, United Kingdom, Bit Stew Systems has developed MIx Core, a platform designed for the Industrial Internet of Things. This platform facilitates real-time analytics, dynamic event management, and seamless integration with both IT and operational systems. It offers solutions in machine intelligence, edge analytics, and predictive automation, allowing users to gain valuable insights into their industrial operations and connected devices. As of November 2016, Bit Stew Systems operates as a subsidiary of GE Digital LLC.
Bit Stew Systems
Series B in 2015
Bit Stew Systems Inc. is a data intelligence company that specializes in providing a platform for data integration and management tailored to the needs of industries such as utilities, oil and gas, aviation, and manufacturing. Founded in 2005 and headquartered in Burnaby, Canada, with additional locations in Mountain View, California; Melbourne, Australia; Madrid, Spain; and London, United Kingdom, Bit Stew Systems has developed MIx Core, a platform designed for the Industrial Internet of Things. This platform facilitates real-time analytics, dynamic event management, and seamless integration with both IT and operational systems. It offers solutions in machine intelligence, edge analytics, and predictive automation, allowing users to gain valuable insights into their industrial operations and connected devices. As of November 2016, Bit Stew Systems operates as a subsidiary of GE Digital LLC.
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.
Mighty Cast, Inc (The Nex Band)
Seed Round in 2014
Nex is a customizable wearable that allows you to create a new smartband every day, hour, or minute. Focus on social, gaming, and IoT.
Mighty Cast, Inc (The Nex Band)
Angel Round in 2013
Nex is a customizable wearable that allows you to create a new smartband every day, hour, or minute. Focus on social, gaming, and IoT.
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.
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.
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