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 Oil and Gas Storage

Hydrodig

Debt Financing in 2022
Hydrodig is a provider of hydro-excavation services. Hydro-excavation is safer, faster, and more cost-effective alternative than excavating with heavy machinery or by hand around buried infrastructure.

Hydrostor

Venture Round in 2021
Hydrostor Inc. is a company based in Toronto, Canada, specializing in Advanced Compressed Air Energy Storage (A-CAES) technology that addresses the growing demand for reliable and sustainable electricity solutions. Founded in 2010, Hydrostor's innovative approach allows for the conversion of electrical energy into compressed air, which can be stored and later converted back into energy during peak demand periods. This technology is designed to facilitate the integration of renewable energy sources, optimize grid operations, and provide essential services such as dispatchable capacity and transmission deferral. Hydrostor's solutions are applicable in various contexts, including repurposing retired fossil fuel plants and serving large industrial operations and mining facilities. The company operates primarily in the United States, Australia, and Canada and collaborates with leading engineering and construction providers to deliver comprehensive energy storage solutions.

Eavor

Venture Round in 2021
Eavor Technologies Inc. is a geothermal technology company based in Calgary, Canada, founded in 2017. It focuses on creating a clean and reliable energy future through its innovative Eavor-Loop™ system, which extracts heat from deep within the Earth for commercial heating and electricity generation. This system employs advanced drilling techniques and integrates existing commercial components in a novel configuration, allowing for scalable and steady green power production. Eavor's technology circulates a benign working fluid in a closed loop, isolating it from the environment while harvesting heat from geologically accessible rock temperatures. The company also operates the Eavor-Lite™ Demonstration Project as a prototype for its technology suite, addressing challenges traditionally associated with geothermal energy.

Drillform

Private Equity Round in 2020
Drillform Technical Services Ltd. specializes in the design, manufacture, and servicing of robotic drilling equipment tailored for both land and offshore rigs. The company’s product lineup includes automated floor wrenches, pipe handlers, and top drives, all engineered for ease of maintenance and support in the field. In addition to manufacturing, Drillform provides a comprehensive range of services, such as equipment overhaul and repair, installation and commissioning, operational fine-tuning, preventative maintenance, and 24/7 on-site support and training. Established in 2009 and headquartered in Calgary, Canada, Drillform operates in key markets including Canada, the United States, and the Middle East, with service facilities located in Odessa, Texas, and Abu Dhabi, United Arab Emirates.

Lube City

Private Equity Round in 2019
Lube City Corp. is a Canadian company based in Edmonton that specializes in oil change and fleet maintenance services for automobiles. Established in 1990, Lube City provides a variety of offerings including automatic oil changes, transmission fluid services, fuel treatments, power steering fluid replacements, and battery replacements. The company also delivers additional services such as engine flushes, radiator coolant system maintenance, fuel system services, tune-ups, and fuel filter replacements. With a focus on the harsh driving conditions experienced in Alberta, Lube City aims to assist customers in maintaining their vehicles and ensuring optimal performance through its comprehensive service offerings.

Hifi Engineering

Venture Round in 2019
HiFi Engineering Inc. specializes in the development of fiber optic sensing systems designed for the oil and gas industry. The company creates advanced monitoring solutions, including sensing cables, downhole tools, and software for data acquisition and interpretation, aimed at applications such as reservoir monitoring, pipeline integrity, and leak detection. Notable products include the HDS MiCro tool for downhole flow and the HDS MaCro system for permanent monitoring of pipelines and reservoirs. Founded in 2007 and headquartered in Calgary, Canada, HiFi Engineering serves North American oil and gas service companies. The company’s technology is supported by over 33 patents and collaborative relationships with major industry players, enhancing its capacity to deliver high-quality data to its customers.

Recover Energy Services

Venture Round in 2019
Recover Energy Services Inc. is an environmental technology company based in Calgary, Canada, specializing in the removal and recycling of oil from drill cuttings generated by oil-based mud drilling. Founded in 2008, the company employs a patented process to clean oil-based drilling waste, successfully recovering base oil while significantly reducing carbon dioxide emissions. This innovative approach allows oil and gas companies to manage their oil-based drill cuttings in a safe, cost-effective, and environmentally responsible manner. Previously known as Cutting Edge Systems Inc., the company adopted its current name in March 2016, reflecting its focus on sustainable practices within the Canadian oil field industry.

Field Upgrading

Venture Round in 2018
Field Upgrading Limited collaborates with Ceramatec, a research and development firm specializing in advanced ceramic materials, to create a novel process known as De-Sulphurization & Upgrading (DSU™). This innovative technique addresses the challenges of sour heavy oil by combining elemental molten sodium and small amounts of hydrogen with sour feedstock, resulting in a low sulphur upgraded heavy oil product. The DSU™ process is notable for its ability to significantly enhance the quality of heavy oil, achieving an 8-10 API increase, which directly correlates to a reduction in sulphur content. By offering this advanced sulphur removal and upgrading technology, Field Upgrading aims to optimize operational efficiency for oilfield operators, enabling remote management of production processes and ultimately leading to increased productivity and cost savings within the oil and gas industry.

Fuller Industrial

Debt Financing in 2017
Fuller is the most advanced pipe spool fabrication plant and premier rubber lining and protective coating shop in North America. Our shops are set up to efficiently handle everything from a single fitting to an entire plant’s tank and piping system.

Rotoliptic

Funding Round in 2016
Rotoliptic Technologies Inc. develops displacement pumps. The company offers electric submersible and truck transfer pumps that focus on pumping crude oil in mindstream oil and gas applications, and bitumen in the Canadian oil sands. Rotoliptic Technologies Inc. is headquartered in Canada.

DarkVision

Series A in 2016
DarkVision Technologies Inc. specializes in ultrasound-based imaging technology that creates high-resolution 3D models of oil and gas wells. Founded in 2013 and based in North Vancouver, Canada, the company provides an advanced imaging system capable of detecting various downhole issues such as production tubing defects, casing corrosion, and other obstructions. This technology allows oil and gas operators to visualize the inner workings of their wells, enabling informed decision-making that can lead to reduced operating costs, enhanced production efficiency, and improved well integrity while minimizing environmental impacts. Unlike traditional camera systems, DarkVision's ultrasound imaging can penetrate opaque fluids, making it a more effective tool for downhole diagnostics. As of 2020, DarkVision operates as a subsidiary of Koch Engineered Solutions.

Validere

Seed Round in 2016
Validere Technologies Inc. is a Toronto-based company that specializes in providing critical information about liquids to large markets, particularly in the oil and gas sector. Founded in 2015, Validere develops portable devices such as the Validere Identifier, which assesses liquid safety by comparing samples against a comprehensive library, and EDGE Connect, which facilitates secure connections between buyers and sellers to identify arbitrage opportunities. The company's solutions enable industry participants to optimize their operational and trading decisions by delivering real-time quality intelligence and actionable testing data. This innovation allows oil and gas companies to accurately monitor product quality, streamline logistics, and enhance trading strategies, resulting in significant cost savings and increased revenue. Validere's technology supports transparency and accountability in liquid measurement, making it a valuable resource for producers and midstream organizations.

DarkVision

Seed Round in 2015
DarkVision Technologies Inc. specializes in ultrasound-based imaging technology that creates high-resolution 3D models of oil and gas wells. Founded in 2013 and based in North Vancouver, Canada, the company provides an advanced imaging system capable of detecting various downhole issues such as production tubing defects, casing corrosion, and other obstructions. This technology allows oil and gas operators to visualize the inner workings of their wells, enabling informed decision-making that can lead to reduced operating costs, enhanced production efficiency, and improved well integrity while minimizing environmental impacts. Unlike traditional camera systems, DarkVision's ultrasound imaging can penetrate opaque fluids, making it a more effective tool for downhole diagnostics. As of 2020, DarkVision operates as a subsidiary of Koch Engineered Solutions.

Rotoliptic

Seed Round in 2011
Rotoliptic Technologies Inc. develops displacement pumps. The company offers electric submersible and truck transfer pumps that focus on pumping crude oil in mindstream oil and gas applications, and bitumen in the Canadian oil sands. Rotoliptic Technologies Inc. is headquartered in Canada.

Vaprema

Series B in 2008
Vaperma is a developer, manufacturer, and supplier of advanced gas separation systems. Vaperma breakthrough patented polymer membrane technology combines solvent and high temperature resistance into a strong hollow fiber which enables to address many industrial applications. Vaperma advanced gas separation systems primarily target dewatering (''dehydration'') in a range of existing energy and industrial markets, including ethanol and natural gas processing applications. It can be used for applications such as the production of fuel-grade ethanol and the dehydration of natural gas, biogas, and chemicals. With Vaperma’s patented hollow-fiber polymer membrane, we offer our customers an energy-saving and eco-friendly solution for high-purity chemical products and a sustainable environment. Vaperma’s growth strategy is to focus on continuously improving its gas separation technologies to meet the broadest range of customer needs.

Vaprema

Venture Round in 2007
Vaperma is a developer, manufacturer, and supplier of advanced gas separation systems. Vaperma breakthrough patented polymer membrane technology combines solvent and high temperature resistance into a strong hollow fiber which enables to address many industrial applications. Vaperma advanced gas separation systems primarily target dewatering (''dehydration'') in a range of existing energy and industrial markets, including ethanol and natural gas processing applications. It can be used for applications such as the production of fuel-grade ethanol and the dehydration of natural gas, biogas, and chemicals. With Vaperma’s patented hollow-fiber polymer membrane, we offer our customers an energy-saving and eco-friendly solution for high-purity chemical products and a sustainable environment. Vaperma’s growth strategy is to focus on continuously improving its gas separation technologies to meet the broadest range of customer needs.

3esi

Seed Round in 2006
3esi provides software solutions for the oil and gas industry.
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