BDC Capital this week announced plans to launch a $135 million venture capital fund to support Canadian energy and cleantech startups.<\/p>\n
BDC Capital Industrial, Clean and Energy Technology Venture Fund II will invest in up to 20 high-impact Canadian startups that demonstrate efficiency and strong scalability.<\/p>\n
\u201cOur goal is to intensify our support for innovative Canadian entrepreneurs who are leading the way in the transition to a low-carbon economy,\u201d says J\u00e9r\u00f4me Nycz, Executive Vice President, BDC Capital.<\/p>\n
Fund II is a follow-on to BDC Capital\u2019s ICE Venture Fund I, which was launched in 2011.<\/p>\n
\u201cOur first ICE fund demonstrated strong performance against international peers in a market that is a key target industry for the government of Canada,” Nycz said.<\/p>\n
BDC Capital\u2019s first ICE fund invested in 18 firms, including quantum computing pioneer D-Wave Systems and IoT software provider Bit Stew, which was recently acquired by General Electric<\/a>.<\/p>\n \u201cThis new fund carries on our successful model of investing in highly scalable, capital-efficient ventures,\u201d says Tony Van Bommel, senior managing partner of ICE Funds I and II.<\/p>\n Fund II will invest in late seed and Series A companies, with some Series B firms also considered.<\/p>\n \u201cWe seek to bring Canadian technologies to the world and accelerate resource efficiency, while targeting significant investment returns,” Bommel said.<\/p>\n