Global Outlook 2024 Report


Like this article?

Sign up to our free newsletter

BDC Capital launches USD135 million VC fund for energy and cleantech start-ups

BDC Capital is planning to launch a USD135 million venture capital fund to support Canadian energy and cleantech start-up businesses with global potential.

BDC Capital’s Industrial, Clean and Energy Technology (ICE) Venture Fund II will invest in 15 to 20 high-impact Canadian start-up firms that demonstrate efficiency and strong scalability.
Fund II is a follow-on to BDC Capital's ICE Venture Fund I, which was launched in 2011. The ICE team now has USD287 million under management.
"Our goal is to intensify our support for innovative Canadian entrepreneurs who are leading the way in the transition to a low-carbon economy," says Jérôme Nycz, executive vice president, BDC Capital. "Our first ICE fund demonstrated strong performance against international peers in a market that is a key target industry for the government of Canada."
"This new fund carries on our successful model of investing in highly scalable, capital-efficient ventures," says Tony Van Bommel, senior managing partner of ICE Funds I and II. "We seek to bring Canadian technologies to the world and accelerate resource efficiency, while targeting significant investment returns. Our existing fund has invested in all regions of the country and includes some of Canada's most successful venture-backed companies.”

Like this article? Sign up to our free newsletter