BDC Capital, the investment division of BDC, today launched its new Growth Venture Co-Investment Fund, a $300 million venture capital fund targeting late-stage growth companies.
The fund, it said, is designed to play a “key role in supporting venture backed companies as they scale to their full potential and help to attract additional investors to support their expansion.”
“During the life of the initial Co-Investments Fund we were pleased to find both a strong appetite for collaboration among investors and significant market demand,” said Jerome Nycz, the firm’s executive vice president.
“Consequently, we believe that by doubling down on our commitment, this successor fund will play an important role in maintaining the long-term growth of VC-backed companies and supporting them on their path to becoming global tech leaders.”
BDC Capital said in a release that the new fund will “continue making industry-agnostic investments through participation in late-stage financing, co-investing alongside other partner funds.”
Dominique Belanger, the fund’s managing partner, said she believes “it’s vital to continue to support this segment of the market. We can all see that the Canadian market has greatly matured over the past decade, with many recent technology IPOs and more coming.”
As late-stage rounds continue to increase in size globally, the fund, said BDC Capital, “will also have the capacity to make larger investments over the life of its portfolio, as evidenced by the positions already held in companies like Hopper and ApplyBoard.”
Meanwhile, Kim Furlong, CEO of the Canadian Venture Capital and Private Equity Association, said the fund represents another step towards “BDC Capital’s vision for creating Canadian tech champions.
“CVCA shares this vision, as it is not only important to nurture early-stage companies in Canada, but also to support their growth long term, as they scale up and compete globally.”