BDC Capital has launched IT Venture Fund II, a new CAD150 million venture capital fund for the Canadian information technology (IT) sector.
This second fund brings the amount under management by the BDC Capital IT Venture Fund group to CAD300 million, all of which is helping to build and support a new generation of global Canadian IT market leaders.
"The fund focuses on direct mid-stage investments (also known as Series A and B financing) in more mature startups that have a product in market and are already generating revenues from customers," says Robert Simon, Managing Partner of the BDC Capital IT Venture Fund. "We wanted to address the mid-stage funding gap, or 'capital crunch', now facing growing software companies in Canada."
The fund targets Canadian companies in the mobile, Internet, enterprise, cloud solutions and financial tech sectors who are disrupting existing industries or creating entirely new markets.
