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BDC Capital extends its investment in Budge Studios

Montreal, March 4, 2021 – BDC Capital today announces it has made a third investment in Budge Studios, through its Growth Equity Fund. The funding comes at a time when the company is well positioned to cultivate new partnerships, develop new products and expand its network, as the last year has been a catalyst for child-oriented content on mobile devices.

“Today’s announcement is a sign of BDC’s commitment to its portfolio companies, and our willingness to support their continued growth over time,” said Maxime Tourangeau, Partner, Growth Equity at BDC Capital. “Budge has become one of the world’s biggest mobile publishing companies in the children’s category, and we are excited about reinforcing this long-term partnership with David, Michael and the rest of their outstanding management team.”

Budge Studios is a maker of branded applications designed to entertain and educate children worldwide. The company’s products have been downloaded more than 1 billion times to date, including apps developed for such names as Barbie, Hot Wheels, My Little Pony and many more. The company’s high standards around safety and age-appropriate content speak for themselves, with tens of millions of monthly active users and hundreds of thousands of recurring paid subscriptions each month.

David Lipes, Co-Founder & Co-CEO of Budge Studios added “We’re happy to be extending our partnership with BDC Capital. They’ve proven to be a valuable and reliable partner over the years, as we’ve worked with them to scale our company by acquiring users and signing new licensing agreements. This latest investment from their Growth Equity Fund comes at a great time. As we move into the next phase of our development, the investment will help to feed our continued advancement and allow us to solidify our leadership position in the market.”

A long-time leader in its space, Budge Studios has a proven track record of growth. By delivering value for customers and capitalizing on a worldwide escalation in recurring monthly subscription revenues for apps like theirs, the company is now well positioned to expand its customer base and consequently, its revenues, for years to come.

BDC Capital’s Growth Equity provides patient, minority equity investments, from $3 million up to $35 million, to mid-market businesses in Canada. It offers an attractive alternative to this critical segment in Canada’s economy, so owners can retain operational and financial control of their business with less risk. With a national network and local accessibility, the Growth Equity team creates long-term partnerships with Canadian businesses and their owners by providing tailored advisory support and management-friendly flexible structures so they can adapt in a constantly evolving future and realize their potential.

About Budge Studios

Founded in 2010, Budge Studios has a mission to entertain and educate children around the world through innovation, creativity and fun. Its high-quality app portfolio consists of original and branded properties, including Barbie, Transformers, Hot Wheels, My Little Pony Strawberry Shortcake, Hello Kitty and many more. With over 1 billion downloads to date, our award-winning apps are revolutionizing children's gaming, and have made Budge a global leader in children's apps for smartphones and tablets. Visit budgestudios.com for more.

About BDC Capital

BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.


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