Through this special program, BDC Capital may match, with a convertible note, a current financing round being raised through qualified existing and/or new investors made into eligible Canadian start-ups. The program is ideal for high potential companies who have venture capital investor syndicates that are willing to support them. BDC will invest alongside these groups.
Eligibility criteria for companies:
- Must be Canadian incorporated with Canadian operations and senior management residing in Canada
- Must have previously raised at least $500,000 and be specifically impacted by COVID-19. (Ex: A syndicate member falling out of the round, operational disruption in revenues or supply chain, etc.)
- Traditional high-growth VC backed industries (i.e. tech, cleantech, life sciences, etc)
- Must have at least one qualified investor investing in the round being matched
All companies that meet the criteria are eligible to apply. This program is not limited to BDC’s portfolio. Interested companies should first speak to their investors. BDC will work with qualified investors on deals.
Eligibility criteria for qualified investors:
- Must have a current fund size of at least $10M and a minimum of three Canadian companies in the portfolio.
- Must have third party limited partners and at least one institutional investor
- A corporate venture arm of a publicly listed company could also serve as a qualified GP
Please note that additional information will be required from the investor for BDC to determine eligibility.
Interested parties that meet the eligibility criteria can write to VCreliefprogram|AT|bdc|DOT|ca for more details. Please note we are receiving a high volume of requests so responses may be delayed. We appreciate your patience.