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 Telecommunications

Kepler

Series C in 2023
Kepler Communications Inc. is a satellite communications company focused on establishing a telecommunications network in space to enhance connectivity for various applications. The company designs, develops, and operates Low-Earth Orbit (LEO) satellites that provide crucial communication services, including PolarConnect for organizations in extreme environments, a Global Data Service for transferring large data files, and everywhereIOT for Internet of Things (IoT) devices. These services address the challenges of intermittent connectivity faced by non-geostationary satellites and reduce reliance on traditional ground infrastructure. Kepler’s advanced network allows for real-time access to space-borne assets, enabling industries such as maritime, natural resources, defense, and logistics to connect and share information effectively. Founded in 2015 and headquartered in Toronto, Canada, Kepler is actively expanding its satellite constellation, with plans for broader deployments to facilitate global communication capabilities.

Expeto

Series A in 2021
Expeto Wireless Inc. is a technology company that provides a Platform-as-a-Service solution designed for enterprises to manage and control their LTE networks. Founded in 2017 and based in San Francisco, the company offers a private and secure deployment for mission-critical applications, facilitating the adoption of the Industrial Internet of Things (IoT). Expeto's platform allows enterprises to create LTE subnets, deploy hybrid private and public cloud solutions, and implement global networks with centralized command and control. By enabling organizations to manage their LTE core networks, Expeto empowers them to efficiently control cellular data and connected devices without relying on third-party services. The company's solutions have been adopted by global operators in the mining and energy sectors, as well as IoT providers and mobile virtual network operators.

Preciseley Microtechnology

Private Equity Round in 2020
Preciseley Microtechnology Corporation specializes in the design and manufacture of micro-electromechanical system (MEMS) products, particularly micro-mirrors and mirror arrays, which are integral to 5G telecommunications, datacom, and 3D sensing markets. Established in 2006 and based in Edmonton, Canada, the company offers a range of products including MEMS tilting, scanning, and piston mirrors, linear and matrix mirrors, optical shutters, packaged mirror and array chips, and driver evaluation boards. In addition to its core mirror technologies, Preciseley develops MEMS sensors for applications like seismic sensing and high-temperature pressure sensing for downhole operations. The innovative micro-optical technology employed by the company enhances detection capabilities in optical and display systems while also facilitating custom product design to meet diverse client needs.

Librestream

Series D in 2020
Librestream Technologies Inc. specializes in mobile video collaboration solutions tailored for enterprises, particularly Fortune 500 companies. Its flagship product, Onsight, enables remote experts to assess environments and troubleshoot equipment through live video, voice communication, and image sharing. This platform includes various components such as Onsight Connect for collaboration across multiple devices, rugged smart cameras for field workers, and the Onsight Management Suite for user management. Librestream's solutions are utilized across diverse industries, including manufacturing, energy, healthcare, and government, allowing organizations to enhance productivity, reduce downtime, and improve customer service. By integrating seamlessly into existing workflows, Librestream addresses the unique challenges faced by physical workers in demanding environments, ultimately facilitating remote diagnostics and inspections. Founded in 2003 and headquartered in Winnipeg, Canada, Librestream has established strategic partnerships with companies like Cisco Systems and Verizon Wireless to enhance its offerings.

Tehama

Series A in 2020
Tehama Inc. is a company that develops an automated software-as-a-service platform aimed at creating secure, cloud-based virtual work environments. Founded in 2018 and headquartered in Ottawa, Canada, Tehama's platform allows users to establish virtual offices, rooms, and desktops that can be accessed from any device with a web browser. The service addresses key security and operational challenges faced by enterprises, service providers, and individuals by facilitating efficient access to a global workforce while ensuring secure management and compliance. Tehama’s solution includes features such as real-time activity feeds, session recordings, and comprehensive audit trails, enabling organizations to streamline the onboarding of talent and enhance productivity without sacrificing security.

Adaptiv Networks

Venture Round in 2019
Adaptiv Networks, Inc. specializes in providing cloud connectivity solutions aimed at facilitating digital business transformation. The company offers software-defined wide-area networks (SD-WAN), which enable automatic site failover, multi-link aggregation, and cloud-based management, thus ensuring reliable and efficient connectivity for various business applications. In addition, Adaptiv Networks provides SD-INTERNET, a solution designed for businesses that rely heavily on cloud services, offering enhanced reliability and network agility. The company serves a diverse clientele, including retail stores, manufacturers, cloud offices, branch networks, and small-to-mid-sized enterprises. Established in 2002 and headquartered in Mississauga, Canada, Adaptiv Networks has formed strategic partnerships with several industry players to enhance its service offerings and support its mission of enabling businesses of all sizes to benefit from effective cloud connectivity.

Renaissance Repair and Supply

Venture Round in 2019
Renaissance Repair and Supply Ltd. specializes in providing comprehensive repair, testing, and remanufacturing services for the telecommunications industry. Established in 2011, the company is headquartered in Ottawa, Canada, with an additional office in Flower Mound, Texas. Its service offerings encompass various aspects of the supply chain, including repair and test services that feature inbound tracking, system testing, physical repairs, and distribution. The company also provides logistics services such as excess buyback, spares supply, and packaging. Furthermore, Renaissance offers engineering solutions, including test engineering and documentation control, alongside dedicated services for military and defense applications. By focusing on areas like wireline, wireless, optical, data/IP, and IoT, Renaissance enables clients to manage the lifecycle of both legacy and next-generation networking equipment across multiple OEM brands.

GSM Project

Venture Round in 2018
GSM Project Inc. engages in the design and production of exhibitions for museums and observation decks. Its services include strategy and planning, content, design, project management, technical development, production, and management and operations. The company was founded in 1958 and is based in Montreal, Canada with additional offices in Singapore and Dubai, United Arab Emirates.

Xpertdoc

Seed Round in 2017
Their industry-leading document generation and Customer Communications Management (CCM) platform allows you to improve customer loyalty and drive growth by streamlining web and mobile self-service intake as well as document creation, delivery and management.

Dialogue

Seed Round in 2017
Dialogue Technologies Inc. operates a comprehensive care platform that focuses on employee wellness and health solutions. Founded in 2016 and based in Montreal, Canada, the company serves Canadian employers by providing a variety of services designed to enhance team engagement and health. Its platform facilitates virtual access to a multidisciplinary team of healthcare professionals, enabling employees to consult with nurses and doctors, navigate care options, receive medication deliveries, and obtain referrals to specialists. Dialogue aims to improve overall wellbeing by reducing barriers to quality care, supporting proactive management of both physical and mental health, and ultimately fostering a healthier workforce.

Kepler

Seed Round in 2016
Kepler Communications Inc. is a satellite communications company focused on establishing a telecommunications network in space to enhance connectivity for various applications. The company designs, develops, and operates Low-Earth Orbit (LEO) satellites that provide crucial communication services, including PolarConnect for organizations in extreme environments, a Global Data Service for transferring large data files, and everywhereIOT for Internet of Things (IoT) devices. These services address the challenges of intermittent connectivity faced by non-geostationary satellites and reduce reliance on traditional ground infrastructure. Kepler’s advanced network allows for real-time access to space-borne assets, enabling industries such as maritime, natural resources, defense, and logistics to connect and share information effectively. Founded in 2015 and headquartered in Toronto, Canada, Kepler is actively expanding its satellite constellation, with plans for broader deployments to facilitate global communication capabilities.

IP4B

Venture Round in 2016
IP4B is a telecommunications marketing company based in Montreal that specializes in hosted voice-over-internet protocol (VoIP) services. The company focuses on user management and cost reduction through its offerings, which include IP telephony, IP connectivity on private networks, and unified communications and collaborations. By providing these services, IP4B helps clients implement effective strategies that ensure continuous connectivity to their business operations.

DERYtelecom

Venture Round in 2016
DERYtelecom is a telecommunications company that specializes in providing a hybrid fiber network allowing multiple advances. This translates into cable network optimization and expansion, phone services deployment is now available across most of its territories, acquisition, and interconnection. It was founded in 1954 and headquartered in Sacré-coeur-saguenay, Quebec.

Aterlo Networks

Seed Round in 2016
Aterlo Networks Inc. specializes in extending content delivery networks into household networks, focusing on enhancing the streaming media experience for users. The company offers a managed service called NightShift, which shifts streaming media usage from peak to off-peak hours, thereby alleviating network congestion. Aterlo serves a diverse clientele, including internet service providers and content providers, as well as industries such as maritime, energy, mining, and work camps. Founded in 2014, Aterlo Networks is headquartered in Kitchener, Ontario, Canada.

Librestream

Venture Round in 2016
Librestream Technologies Inc. specializes in mobile video collaboration solutions tailored for enterprises, particularly Fortune 500 companies. Its flagship product, Onsight, enables remote experts to assess environments and troubleshoot equipment through live video, voice communication, and image sharing. This platform includes various components such as Onsight Connect for collaboration across multiple devices, rugged smart cameras for field workers, and the Onsight Management Suite for user management. Librestream's solutions are utilized across diverse industries, including manufacturing, energy, healthcare, and government, allowing organizations to enhance productivity, reduce downtime, and improve customer service. By integrating seamlessly into existing workflows, Librestream addresses the unique challenges faced by physical workers in demanding environments, ultimately facilitating remote diagnostics and inspections. Founded in 2003 and headquartered in Winnipeg, Canada, Librestream has established strategic partnerships with companies like Cisco Systems and Verizon Wireless to enhance its offerings.

CENX

Series D in 2015
CENX, provides interconnect services for the new generation of Ethernet-based backhaul networks. Awarded by multiple leading publications for its innovation, CENX's Ethernet Backhaul Management Service aggregates and translates different Ethernet backhaul services from multiple access providers to all cell sites in a given market. CENX provides a normalized Carrier Ethernet handoff to a given wireless provider enabling ubiquitous 4G-LTE Ethernet backhaul coverage to all cell sites in that market. CENX manages the entire circuit life cycle, yielding better quality of service, reduced CapEx and a level of monitoring of Ethernet Backhaul service traffic that has not been feasible previously. CENX's investors include its management and a number of leading firms, including DCM (whose co-founder, Dixon Doll, is the Chairman of the CENX Board of Directors), Highland Capital Partners and Mesirow Financial. Through its work in the MEF (Metro Ethernet Forum) and in the industry, the CENX management team has played a critical role in the definition of standards and the development of the Carrier Ethernet market over the past ten years.

Ranovus

Series B in 2014
Ranovus Inc. is a company based in Ottawa, Canada, that specializes in developing and manufacturing multi-terabit interconnect solutions for data centers and communications networks in the telecommunications and information technology sectors. Founded in 2012, Ranovus offers innovative technologies such as Quantum Dot Multi-Wavelength Laser and advanced digital and photonics integrated circuits. These solutions are designed to provide scalable and efficient alternatives for optical interconnectivity, focusing on minimizing power dissipation, size, and cost. The company operates in the United States, Canada, and Germany, and is recognized for its contributions to the development of optoelectronic components and transceiver subsystems, setting new benchmarks in the industry.

BLiNQ Networks

Series B in 2014
BLINQ Networks is the pioneer in developing next-generation non-line-of sight (NLOS) wireless backhaul products for compact base stations that enable wireless carriers to address the growth in demand for capacity. BLINQ is funded by highly regarded US and Canadian venture capital firms with strong investment track record in wireless technologies and solutions. Their management team has a proven record in building high-growth businesses in the wireless industry with companies that include Andrew, Flarion and Qualcomm. BLINQ's core engineering team comes from Nortel Networks where they were well recognized for developing innovative, state of the art and cost effective wireless systems that have been deployed worldwide. They are set to make a large impact in the wireless industry at a critical inflection point where the mobile Internet enabled by smart phones and mobile computing devices are driving data usage ever higher.

BTI Systems

Series D in 2014
BTI Systems Inc. specializes in the development and marketing of cloud and metro networking software and systems aimed at carriers, colocation, content, and service providers, as well as cloud infrastructure companies globally. The company offers a range of products, including the BTI Intelligent Cloud Connect platforms for cloud service delivery, high-bandwidth Packet Optical Transport network infrastructure platforms, and Access and Aggregation Platforms that support carrier Ethernet services and mobile backhaul applications. Additionally, BTI provides Ethernet Access Platforms to extend services to customer premises and cell towers, alongside control software for enhanced network visibility and management. Their solutions address software-defined networking, data center interconnect, and low-latency network requirements. Founded in 2000 and headquartered in Kanata, Canada, BTI Systems operates as a subsidiary of Juniper Networks, having over 380 customers and multiple regional centers for sales, marketing, and research and development worldwide.

Elliptic Technologies

Venture Round in 2013
Elliptic Technologies, founded in 2001, specializes in security software and semiconductor Internet Protocol engines. The company leverages extensive expertise in security design, derived from its history of developing System-on-Chip designs and related software. Elliptic Technologies offers embedded security services that cater to a range of applications, including wired and wireless networking, digital media, home entertainment systems, and Internet of Things (IoT) sensor networks. Its solutions are designed for vendors, device manufacturers, and service and content providers, positioning the company as a key player in the security technology sector.

Ranovus

Series A in 2013
Ranovus Inc. is a company based in Ottawa, Canada, that specializes in developing and manufacturing multi-terabit interconnect solutions for data centers and communications networks in the telecommunications and information technology sectors. Founded in 2012, Ranovus offers innovative technologies such as Quantum Dot Multi-Wavelength Laser and advanced digital and photonics integrated circuits. These solutions are designed to provide scalable and efficient alternatives for optical interconnectivity, focusing on minimizing power dissipation, size, and cost. The company operates in the United States, Canada, and Germany, and is recognized for its contributions to the development of optoelectronic components and transceiver subsystems, setting new benchmarks in the industry.

CloudLink Tech

Series A in 2013
CloudLink Technologies Inc. specializes in networking, virtualization, and cloud security solutions for enterprises, governments, and service providers globally. Established in 2003 and based in Ottawa, Canada, the company offers a comprehensive CloudLink Platform that provides encryption for mission-critical data across diverse infrastructures. Its offerings include CloudLink SecureVSA for data-at-rest encryption in various cloud environments, CloudLink SecureVM for enhanced security in virtualized machines, and CloudLink SecureFILE for encrypting sensitive files and managing NAS storage. CloudLink is recognized for its compliance solutions in healthcare and law enforcement. The company is certified by major cloud technology leaders and operates in the United States and Europe, functioning as a subsidiary of EMC Corporation since 2015.

BLiNQ Networks

Series B in 2012
BLINQ Networks is the pioneer in developing next-generation non-line-of sight (NLOS) wireless backhaul products for compact base stations that enable wireless carriers to address the growth in demand for capacity. BLINQ is funded by highly regarded US and Canadian venture capital firms with strong investment track record in wireless technologies and solutions. Their management team has a proven record in building high-growth businesses in the wireless industry with companies that include Andrew, Flarion and Qualcomm. BLINQ's core engineering team comes from Nortel Networks where they were well recognized for developing innovative, state of the art and cost effective wireless systems that have been deployed worldwide. They are set to make a large impact in the wireless industry at a critical inflection point where the mobile Internet enabled by smart phones and mobile computing devices are driving data usage ever higher.

NewPace Technology Development

Debt Financing in 2011
NewPace has developed a RCS (Rich Communication Suite) service that can be operated by a mobile operator or through NewPace’s cloud facilities. rcsConnect operates inside a mobile operator’s network either as an IMS Application Server or as a stand-alone application server (pre-IMS), and rcsCloudConnect is a service operated by NewPace on behalf of operators who are billed on a monthly basis for active users of the service. A leader in mobile messaging technology, NewPace has a wealth of knowledge on integrating into existing networks including for billing and provisioning systems. With a continuous product roadmap, NewPace clients are provided with RCS 5.0 features at no or low cost (depending on the service activated).

CML Versatel

Venture Round in 2011
CML Versatel develops communications systems.

NewPace Technology Development

Debt Financing in 2011
NewPace has developed a RCS (Rich Communication Suite) service that can be operated by a mobile operator or through NewPace’s cloud facilities. rcsConnect operates inside a mobile operator’s network either as an IMS Application Server or as a stand-alone application server (pre-IMS), and rcsCloudConnect is a service operated by NewPace on behalf of operators who are billed on a monthly basis for active users of the service. A leader in mobile messaging technology, NewPace has a wealth of knowledge on integrating into existing networks including for billing and provisioning systems. With a continuous product roadmap, NewPace clients are provided with RCS 5.0 features at no or low cost (depending on the service activated).

BLiNQ Networks

Series A in 2011
BLINQ Networks is the pioneer in developing next-generation non-line-of sight (NLOS) wireless backhaul products for compact base stations that enable wireless carriers to address the growth in demand for capacity. BLINQ is funded by highly regarded US and Canadian venture capital firms with strong investment track record in wireless technologies and solutions. Their management team has a proven record in building high-growth businesses in the wireless industry with companies that include Andrew, Flarion and Qualcomm. BLINQ's core engineering team comes from Nortel Networks where they were well recognized for developing innovative, state of the art and cost effective wireless systems that have been deployed worldwide. They are set to make a large impact in the wireless industry at a critical inflection point where the mobile Internet enabled by smart phones and mobile computing devices are driving data usage ever higher.

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.

OneChip Photonics

Series A in 2009
OneChip Photonics specializes in the development of optical transceiver chips designed for mass applications. The company has created an integrated fiber-to-the-home transceiver, which is unique in the market. This innovation aims to reduce costs while simultaneously enhancing performance, making it a significant advancement in the field of optical communications. By focusing on these objectives, OneChip Photonics seeks to address the growing demand for efficient and cost-effective optical solutions.

Wavesat

Venture Round in 2009
Wavesat specializes in advanced semiconductor solutions for mobile broadband, catering to leading carrier and mobile device manufacturers. The company provides technology that supports the deployment of various broadband wireless technologies, including WiMAX Wave2 and XG-PHS, while facilitating a seamless transition to future 4G technologies such as LTE. Wavesat's innovative multimode 4G architecture and cost-effective platforms combine software and reference designs, offering superior technical support and highly integrated, power-efficient solutions. This approach enables mobile device manufacturers to optimize their investments, minimize development time and risk, and accelerate their time-to-market with industry-leading performance and integration.

Sutus

Venture Round in 2008
Sutus specializes in providing integrated communication and IT services tailored for small businesses with 3 to 25 employees. The company offers a comprehensive software platform called Sutus Business Central, which includes tools for networking, data management, telephone services, security, and collaboration. Sutus supports various operating systems, including Windows, Mac, and Linux, and ensures compatibility with popular applications such as Microsoft Outlook, Entourage, and Apple Mail. Their services encompass network infrastructure, file and data sharing, collaboration tools, and fully integrated telephone handsets, enabling small businesses to enhance their operational efficiency and communication capabilities.

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.

Cyrium Technologies

Series B in 2008
Cyrium Technologies Inc. specializes in the development and manufacturing of concentrator photovoltaic (CPV) cells for terrestrial solar energy applications. Established in 2002 and headquartered in Ottawa, Canada, with an additional office in Tsuen Wan, Hong Kong, the company offers a range of products including quantum dot enhanced cells and application-specific concentrator cells (ASCC). Cyrium Technologies also provides optimization and customization services for cell performance through its ASCC program, catering to the needs of CPV system manufacturers and the broader solar energy market.

Sutus

Venture Round in 2008
Sutus specializes in providing integrated communication and IT services tailored for small businesses with 3 to 25 employees. The company offers a comprehensive software platform called Sutus Business Central, which includes tools for networking, data management, telephone services, security, and collaboration. Sutus supports various operating systems, including Windows, Mac, and Linux, and ensures compatibility with popular applications such as Microsoft Outlook, Entourage, and Apple Mail. Their services encompass network infrastructure, file and data sharing, collaboration tools, and fully integrated telephone handsets, enabling small businesses to enhance their operational efficiency and communication capabilities.

NewStep Networks

Series C in 2008
NewStep Networks, Inc. provides service convergence and fixed-mobile convergence software solutions. The company offers FlexConnect solutions that bring the benefits of service convergence to mobile, office, and home phones; and Enterprise Mobility solutions, which feature one button transfer, single number service, automatic reconnect, single voicemail, and voicemail intercept. It also offers Total Mobility solutions that feature FlexConnect Solution and Enterprise Mobility Solutions, and add features designed for enterprise environments. Its customers include enterprises, service providers, equipment makers, system integrators, and business and consumer users. The company was formerly known as Rev D Networks, Inc. and changed its name to NewStep Networks, Inc. in November 2003. The company was founded in 2003 and is headquartered in Toronto, Canada with additional Offices in Canada, the United States, Europe, and Asia. As of June 8, 2009, NewStep Networks, Inc. operates as a subsidiary of Natural Convergence, Inc.

Zeugma Systems

Series B in 2007
Zeugma Systems is a privately held company that specializes in telecommunications equipment and applications for broadband service providers. The company offers the Zeugma Services Node, a service delivery router that consolidates extensive computing resources with advanced capacity and awareness of both services and subscribers in a robust, fully redundant system. This innovative equipment enables service providers to swiftly prototype and launch new revenue-generating services, monitor session flows at a granular level, and manage individual session flows to enforce quality of service policies. Additionally, Zeugma Systems provides Zeugma OSS for configuration and health management of their systems, and Smart Series Applications, which enhance various services like video on demand and voice over IP. Their solutions also support usage-based billing frameworks, reducing the need for multiple edge devices while facilitating standard broadband aggregation and subscriber management functions.

BTI Systems

Series D in 2007
BTI Systems Inc. specializes in the development and marketing of cloud and metro networking software and systems aimed at carriers, colocation, content, and service providers, as well as cloud infrastructure companies globally. The company offers a range of products, including the BTI Intelligent Cloud Connect platforms for cloud service delivery, high-bandwidth Packet Optical Transport network infrastructure platforms, and Access and Aggregation Platforms that support carrier Ethernet services and mobile backhaul applications. Additionally, BTI provides Ethernet Access Platforms to extend services to customer premises and cell towers, alongside control software for enhanced network visibility and management. Their solutions address software-defined networking, data center interconnect, and low-latency network requirements. Founded in 2000 and headquartered in Kanata, Canada, BTI Systems operates as a subsidiary of Juniper Networks, having over 380 customers and multiple regional centers for sales, marketing, and research and development worldwide.

Gridpoint Systems

Series A in 2007
Gridpoint Systems, Inc. provides connection oriented carrier Ethernet (COCE) traffic engineering solutions. The company’s solutions enable partners and service providers to plan, provision, and protect Ethernet service and transport networks. Its products include 3400 Intelligent Node, a form factor edge service concentration solution for carrier Ethernet service delivery; Value Management Suite, a modular software suite designed to deliver traffic engineering for COCE; and Ethernet Path Computation Module, a portable software application that enables the scaling of multi-vendor, multi-technology, and multi-domain carrier Ethernet networks. The company’s planning and fulfillment applications are used by equipment, EMS/NMS, and OSS vendors. Gridpoint Systems, Inc. was founded in 2005 and is based in Ottawa, Canada.

Sirific Wireless

Series C in 2007
Sirific Wireless is a semiconductor company specializing in the design and development of CMOS RF transceivers for the wireless communications market. Founded in 2000, the company is headquartered in Richardson, Texas, with additional offices in Waterloo, Canada, and Seoul, Korea. Sirific Wireless offers a range of products, including monolithic multi-mode wireless designs, digital direct conversion products, and Harmony-direct upconversion transmitters. Its NEXUS platform integrates multiple wireless standards such as HSDPA, WCDMA, EDGE, GPRS, and GSM, providing on-chip receive diversity for transceivers suitable for multi-mode and multi-band wireless applications.

OneChip Photonics

Seed Round in 2007
OneChip Photonics specializes in the development of optical transceiver chips designed for mass applications. The company has created an integrated fiber-to-the-home transceiver, which is unique in the market. This innovation aims to reduce costs while simultaneously enhancing performance, making it a significant advancement in the field of optical communications. By focusing on these objectives, OneChip Photonics seeks to address the growing demand for efficient and cost-effective optical solutions.

Natural Convergence

Series C in 2006
Natural Convergence, Inc. is a provider of hosted voice over Internet Protocol (VoIP) software designed for service providers catering to the small business sector. Founded in 2001 and headquartered in Ottawa, Canada, the company develops and markets a product called Silhouette, which serves telecom carriers and service providers. Natural Convergence offers a range of services including customizable training, professional consulting, project management, and a channel program to enhance its software solutions. The company has a diverse customer base across Canada, the United States, the United Kingdom, the Netherlands, and the Caribbean, positioning itself as a significant player in the VoIP market for small businesses.

Wavesat

Venture Round in 2006
Wavesat specializes in advanced semiconductor solutions for mobile broadband, catering to leading carrier and mobile device manufacturers. The company provides technology that supports the deployment of various broadband wireless technologies, including WiMAX Wave2 and XG-PHS, while facilitating a seamless transition to future 4G technologies such as LTE. Wavesat's innovative multimode 4G architecture and cost-effective platforms combine software and reference designs, offering superior technical support and highly integrated, power-efficient solutions. This approach enables mobile device manufacturers to optimize their investments, minimize development time and risk, and accelerate their time-to-market with industry-leading performance and integration.

Triacta Power Technologies

Venture Round in 2006
Triacta Power Technologies Inc. designs, manufactures, and sells energy management meters for applications in multi-unit commercial, institutional, residential, government, and industrial market sectors. The company was founded in 2003 and is based in Carleton Place, Canada with sales offices in Canada and the United States. As of July 15, 2015, Triacta Power Technologies Inc. operates as a subsidiary of EnerCare Connections Inc.

NewStep Networks

Series B in 2006
NewStep Networks, Inc. provides service convergence and fixed-mobile convergence software solutions. The company offers FlexConnect solutions that bring the benefits of service convergence to mobile, office, and home phones; and Enterprise Mobility solutions, which feature one button transfer, single number service, automatic reconnect, single voicemail, and voicemail intercept. It also offers Total Mobility solutions that feature FlexConnect Solution and Enterprise Mobility Solutions, and add features designed for enterprise environments. Its customers include enterprises, service providers, equipment makers, system integrators, and business and consumer users. The company was formerly known as Rev D Networks, Inc. and changed its name to NewStep Networks, Inc. in November 2003. The company was founded in 2003 and is headquartered in Toronto, Canada with additional Offices in Canada, the United States, Europe, and Asia. As of June 8, 2009, NewStep Networks, Inc. operates as a subsidiary of Natural Convergence, Inc.

BelAir Networks

Series D in 2006
BelAir Networks wireless networking equipment is deployed by the world's leading service providers including AT&T, Comcast and Time Warner Cable. The company's portfolio of indoor access points and outdoor picocell base stations, control and management systems enable service providers to deploy high performance, scalable and flexible wireless networks. BelAir Networks solutions provide a compelling return on investment enabling service providers to capitalize on the explosive growth of mobile data devices, applications and usage. Innovative cable, telecom and mobile service providers use BelAir Networks to drive revenue and improve competitiveness. Founded in 2002, BelAir Networks is a privately held company with Tier 1 carrier customers and backed by investment from Comcast Interactive Capital, T-Mobile Venture Fund and leading venture capital firms including Trilogy Equity Partners. For more information, visit www.belairnetworks.com.

FirstHand Technologies

Series C in 2006
FirstHand Technologies is a technology pioneer with specific expertise in Session Initiation Protocol (SIP). By embedding or bundling SIPquest SIP-based software products with their own products, telecom and datacom equipment vendors are able to take advantage of the growing demand for VoIP services and capabilities. IP Telephony is the superset encompassing more than just VoIP. SIPquest's application and component suite also includes IP-based audio conferencing, video conferencing, data conferencing, application sharing, instant messaging, presence, a multimedia collaboration agent, voice mail, auto attendant, a SIP to H.323 signaling converter, an extensible SIP server and mobile WiFi roaming and collaboration capabilities. SIPquest is committed to expanding the use of SIP technologies through an exclusive licensing agreement with Columbia University's Internet Real-Time Lab and Professor Henning Schulzrinne, Chief Scientific Advisor to SIPquest and co-author of SIP. Located in Ottawa, Canada, SIPquest has the most complete and advanced suite of Session Initiation Protocol (SIP) software modules and components on the market.

Zeugma Systems

Series A in 2006
Zeugma Systems is a privately held company that specializes in telecommunications equipment and applications for broadband service providers. The company offers the Zeugma Services Node, a service delivery router that consolidates extensive computing resources with advanced capacity and awareness of both services and subscribers in a robust, fully redundant system. This innovative equipment enables service providers to swiftly prototype and launch new revenue-generating services, monitor session flows at a granular level, and manage individual session flows to enforce quality of service policies. Additionally, Zeugma Systems provides Zeugma OSS for configuration and health management of their systems, and Smart Series Applications, which enhance various services like video on demand and voice over IP. Their solutions also support usage-based billing frameworks, reducing the need for multiple edge devices while facilitating standard broadband aggregation and subscriber management functions.

Galazar

Series C in 2006
Galazar Networks Inc. specializes in the design, development, and supply of system semiconductors and software solutions. The company focuses on providing advanced semiconductor solutions for various telecommunications needs, including Ethernet, DS1/E1, DS3/E3, and SONET/SDH/OTN applications. Its product offerings encompass framer and mapper devices for data and telecom interfaces, as well as radio transmission and cellular backhaul solutions. Additionally, Galazar delivers OTN mappers, multiplexers, and multi-protocol infrastructure solutions, aiming to support carrier-grade Ethernet and multi-service line cards in the industry.

Metconnex

Venture Round in 2006
Metconnex develops integrated optical modules for optical networks. The company offers products such as wave switching modules for wavelength division multiplexing (WDM) networks. It was founded in 2002 and is based in Ottawa, Canada.

BTI Systems

Series C in 2006
BTI Systems Inc. specializes in the development and marketing of cloud and metro networking software and systems aimed at carriers, colocation, content, and service providers, as well as cloud infrastructure companies globally. The company offers a range of products, including the BTI Intelligent Cloud Connect platforms for cloud service delivery, high-bandwidth Packet Optical Transport network infrastructure platforms, and Access and Aggregation Platforms that support carrier Ethernet services and mobile backhaul applications. Additionally, BTI provides Ethernet Access Platforms to extend services to customer premises and cell towers, alongside control software for enhanced network visibility and management. Their solutions address software-defined networking, data center interconnect, and low-latency network requirements. Founded in 2000 and headquartered in Kanata, Canada, BTI Systems operates as a subsidiary of Juniper Networks, having over 380 customers and multiple regional centers for sales, marketing, and research and development worldwide.

BelAir Networks

Series C in 2005
BelAir Networks wireless networking equipment is deployed by the world's leading service providers including AT&T, Comcast and Time Warner Cable. The company's portfolio of indoor access points and outdoor picocell base stations, control and management systems enable service providers to deploy high performance, scalable and flexible wireless networks. BelAir Networks solutions provide a compelling return on investment enabling service providers to capitalize on the explosive growth of mobile data devices, applications and usage. Innovative cable, telecom and mobile service providers use BelAir Networks to drive revenue and improve competitiveness. Founded in 2002, BelAir Networks is a privately held company with Tier 1 carrier customers and backed by investment from Comcast Interactive Capital, T-Mobile Venture Fund and leading venture capital firms including Trilogy Equity Partners. For more information, visit www.belairnetworks.com.

Elliptic Technologies

Series A in 2005
Elliptic Technologies, founded in 2001, specializes in security software and semiconductor Internet Protocol engines. The company leverages extensive expertise in security design, derived from its history of developing System-on-Chip designs and related software. Elliptic Technologies offers embedded security services that cater to a range of applications, including wired and wireless networking, digital media, home entertainment systems, and Internet of Things (IoT) sensor networks. Its solutions are designed for vendors, device manufacturers, and service and content providers, positioning the company as a key player in the security technology sector.

Sandvine

Venture Round in 2005
Sandvine is focused on protecting and improving the quality of experience on the Internet. Our award-winning network equipment and solutions help cable, DSL, FTTx, fixed wireless and mobile operators better serve their subscribers and understand network trends; offer new services; mitigate malicious traffic; manage network congestion; and deliver QoS-prioritized multimedia services. With customers in more than 70 countries serving over a hundred million broadband and wireless subscribers, Sandvine is enhancing the Internet experience worldwide.

Liquid Computing

Series A in 2005
Liquid Computing Corp. develops converged communications and computing platforms. It designs and develops LiquidIQ, a computing infrastructure that offers IT infrastructure and data centers management, and software-based control of servers, as well as storage and networking resources. The company was founded in 2003 and is based in Ottawa, Canada with an additional office in Stamford, Connecticut.

SiGe Semiconductor

Venture Round in 2005
SiGe Semiconductor, Inc. is a fabless semiconductor company that specializes in designing and manufacturing radio frequency (RF) integrated circuits and multi-chip modules for the wireless consumer electronics market. The company offers a range of products, including wireless LAN front end modules, dual band front end modules, discrete power amplifiers, WiMAX power amplifiers, transceivers, GPS radio integrated circuits, GPS receivers, and Bluetooth power amplifiers. SiGe Semiconductor distributes its RF solutions through a network of partners, catering to various applications in computing, home entertainment, and mobile devices across regions such as Asia, Europe, the Middle East, and North America.

TenXc Wireless

Series A in 2004
TenXc Wireless designs and supplies wireless access systems and antenna products to major wireless operators worldwide. It offers wideband bi-sector arrays that allow the clients to improve network performance, spectral efficiency, and coverage as well as the flexibility to target network hotspots and build new networks.

Wavesat

Venture Round in 2004
Wavesat specializes in advanced semiconductor solutions for mobile broadband, catering to leading carrier and mobile device manufacturers. The company provides technology that supports the deployment of various broadband wireless technologies, including WiMAX Wave2 and XG-PHS, while facilitating a seamless transition to future 4G technologies such as LTE. Wavesat's innovative multimode 4G architecture and cost-effective platforms combine software and reference designs, offering superior technical support and highly integrated, power-efficient solutions. This approach enables mobile device manufacturers to optimize their investments, minimize development time and risk, and accelerate their time-to-market with industry-leading performance and integration.

Natural Convergence

Series B in 2004
Natural Convergence, Inc. is a provider of hosted voice over Internet Protocol (VoIP) software designed for service providers catering to the small business sector. Founded in 2001 and headquartered in Ottawa, Canada, the company develops and markets a product called Silhouette, which serves telecom carriers and service providers. Natural Convergence offers a range of services including customizable training, professional consulting, project management, and a channel program to enhance its software solutions. The company has a diverse customer base across Canada, the United States, the United Kingdom, the Netherlands, and the Caribbean, positioning itself as a significant player in the VoIP market for small businesses.

Sirific Wireless

Series B in 2004
Sirific Wireless is a semiconductor company specializing in the design and development of CMOS RF transceivers for the wireless communications market. Founded in 2000, the company is headquartered in Richardson, Texas, with additional offices in Waterloo, Canada, and Seoul, Korea. Sirific Wireless offers a range of products, including monolithic multi-mode wireless designs, digital direct conversion products, and Harmony-direct upconversion transmitters. Its NEXUS platform integrates multiple wireless standards such as HSDPA, WCDMA, EDGE, GPRS, and GSM, providing on-chip receive diversity for transceivers suitable for multi-mode and multi-band wireless applications.

BelAir Networks

Series B in 2003
BelAir Networks wireless networking equipment is deployed by the world's leading service providers including AT&T, Comcast and Time Warner Cable. The company's portfolio of indoor access points and outdoor picocell base stations, control and management systems enable service providers to deploy high performance, scalable and flexible wireless networks. BelAir Networks solutions provide a compelling return on investment enabling service providers to capitalize on the explosive growth of mobile data devices, applications and usage. Innovative cable, telecom and mobile service providers use BelAir Networks to drive revenue and improve competitiveness. Founded in 2002, BelAir Networks is a privately held company with Tier 1 carrier customers and backed by investment from Comcast Interactive Capital, T-Mobile Venture Fund and leading venture capital firms including Trilogy Equity Partners. For more information, visit www.belairnetworks.com.

NewStep Networks

Series A in 2003
NewStep Networks, Inc. provides service convergence and fixed-mobile convergence software solutions. The company offers FlexConnect solutions that bring the benefits of service convergence to mobile, office, and home phones; and Enterprise Mobility solutions, which feature one button transfer, single number service, automatic reconnect, single voicemail, and voicemail intercept. It also offers Total Mobility solutions that feature FlexConnect Solution and Enterprise Mobility Solutions, and add features designed for enterprise environments. Its customers include enterprises, service providers, equipment makers, system integrators, and business and consumer users. The company was formerly known as Rev D Networks, Inc. and changed its name to NewStep Networks, Inc. in November 2003. The company was founded in 2003 and is headquartered in Toronto, Canada with additional Offices in Canada, the United States, Europe, and Asia. As of June 8, 2009, NewStep Networks, Inc. operates as a subsidiary of Natural Convergence, Inc.

ResponseTek

Seed Round in 2003
ResponseTek Networks Corp. specializes in customer experience management software, offering the ResponseTek Listening Platform, which delivers comprehensive insights and analytics to organizations. This platform facilitates multi-channel customer feedback collection through various methods, including SMS surveys and social media monitoring, enabling businesses to gain a unified view of their customer interactions. It provides tools for role-based reporting, real-time data integration, and program management, enhancing the ability of companies to respond effectively to customer needs. Serving sectors such as telecommunications, finance, healthcare, and retail, ResponseTek has established partnerships with major firms like Nielsen and IBM. Founded in 1999 and headquartered in Vancouver, Canada, the company has expanded its presence with offices in North America, Europe, India, and Australia, catering to a global clientele that includes notable corporations like HSBC and Vodafone.

Sirific Wireless

Venture Round in 2002
Sirific Wireless is a semiconductor company specializing in the design and development of CMOS RF transceivers for the wireless communications market. Founded in 2000, the company is headquartered in Richardson, Texas, with additional offices in Waterloo, Canada, and Seoul, Korea. Sirific Wireless offers a range of products, including monolithic multi-mode wireless designs, digital direct conversion products, and Harmony-direct upconversion transmitters. Its NEXUS platform integrates multiple wireless standards such as HSDPA, WCDMA, EDGE, GPRS, and GSM, providing on-chip receive diversity for transceivers suitable for multi-mode and multi-band wireless applications.

BelAir Networks

Series A in 2002
BelAir Networks wireless networking equipment is deployed by the world's leading service providers including AT&T, Comcast and Time Warner Cable. The company's portfolio of indoor access points and outdoor picocell base stations, control and management systems enable service providers to deploy high performance, scalable and flexible wireless networks. BelAir Networks solutions provide a compelling return on investment enabling service providers to capitalize on the explosive growth of mobile data devices, applications and usage. Innovative cable, telecom and mobile service providers use BelAir Networks to drive revenue and improve competitiveness. Founded in 2002, BelAir Networks is a privately held company with Tier 1 carrier customers and backed by investment from Comcast Interactive Capital, T-Mobile Venture Fund and leading venture capital firms including Trilogy Equity Partners. For more information, visit www.belairnetworks.com.

Natural Convergence

Series A in 2002
Natural Convergence, Inc. is a provider of hosted voice over Internet Protocol (VoIP) software designed for service providers catering to the small business sector. Founded in 2001 and headquartered in Ottawa, Canada, the company develops and markets a product called Silhouette, which serves telecom carriers and service providers. Natural Convergence offers a range of services including customizable training, professional consulting, project management, and a channel program to enhance its software solutions. The company has a diverse customer base across Canada, the United States, the United Kingdom, the Netherlands, and the Caribbean, positioning itself as a significant player in the VoIP market for small businesses.

Maximum Throughput

Series A in 2002
Maximum Throughput Inc. is a networked storage developer whose products deliver SAN performance over TCP/IP. The Company's unique solutions provide many times the storage bandwidth of other NAS and SAN products, using software that runs on commodity hardware. Maximum Throughput's products offer unparalleled performance capacity management, and capacity availability, and have the lowest total cost-of-ownership in their class.

Sedona Networks

Series B in 2000
Sedona Networks designs and builds innovative, multi-services access network solutions.
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