# Business Development Bank of Canada

> Business Development Bank of Canada is a VC fund backing Software. See 153 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Montréal, Canada
- Total investments: 153
- Last investment: Jul 2025
- Lead investor: 45%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/bdc/
- X (Twitter): https://twitter.com/bdc_ca
- Website: https://www.bdc.ca/en/
- Facebook: https://www.facebook.com/BDC.ca

Business Development Bank of Canada is a VC fund in Montréal focused on Software and Information Technology. BDC offers financing, consulting services, subordinate financing and venture capital. They focus on small and medium-sized enterprises (SMEs). BDC's services are available across Canada in both official languages through a network of more than 100 offices. Its head office is in Montreal.

## Contacts

5 contacts available for Business Development Bank of Canada. Shizune tracks 16 team members at Business Development Bank of Canada. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/bdc-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.2M–$5M |
| Series A | $5M–$18M |
| Debt Financing | $350k–$130M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 32 | 21% |
| Information Technology | 20 | 13% |
| Manufacturing | 17 | 11% |
| Energy | 12 | 8% |
| Artificial Intelligence | 12 | 8% |

190 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 23 | 15% |
| Debt Financing | 17 | 11% |
| Series A | 15 | 10% |
| Venture - Series Unknown | 15 | 10% |
| Grant | 12 | 8% |

15 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Canada | 129 | 84% |
| United States | 2 | 1% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Benoit Forcier | Cleantech Practice | 7 | https://shizune.co/investors/profile/benoit-forcier |
| Benoit Mignacco | Vice-President, Portfolio Management - Growth Capital and Business Transfer | 1 | https://shizune.co/investors/profile/benoit-mignacco |
| Chantal Belzile | Management | 0 | https://shizune.co/investors/profile/chantal-belzile |
| Jack Fraser | Partner - Late Stage Growth Fund | 14 | https://shizune.co/investors/profile/jack-fraser |
| Jérôme Nycz | Executive Vice President, BDC Capital | 21 | https://shizune.co/investors/profile/jrme-nycz |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Highwood Asset Management | Highwood Asset Management is an asset management company that manages oil production and oil midstream spaces. | $103.1M | Post-IPO Debt | Jul 03, 2025 |  |
| LSL Pharma Group | LSL Pharma Group is a manufacturing company that innovates and manufactures life sciences products. Formed to integrate the operations of its Canadian subsidiaries, each boasting over two decades of expertise, LSL Pharma Group excels as a niche manufacturer in the life science industry. The company offers turnkey formulation, development andmanufacturing services. | $12.8M | Post-IPO Debt | Jun 27, 2025 |  |
| Conquest Planning | Conquest Planning provides financial planning software that integrates AI-driven analytics, real-time collaboration, and open APIs to support advisory workflows. The platform offers digital self‑service, collaborative hybrid, and traditional advisor‑led modes tailored to varied client needs. Its Strategic Advice Manager dynamically generatespersonalized strategies and adjusts plans using client data and tax‑aware modeling. The system centralizes data integration, scenario testing, and reporting to streamline advisor efficiency and client engagement. Multiple financial institutions deploy the platform to automate plan creation and foster goal‑based conversations without replacing human expertise. | $80M | Series B | Jun 23, 2025 |  |
| Carbon Upcycling | Carbon Upcycling converts industrial CO₂ emissions and byproducts into engineered low‑carbon cement materials, deploys modular capture and utilization systems at hard‑to‑decarbonize facilities, and supplies circular construction inputs that support supply chain resilience and emission reduction goals. | $18M | Convertible Note | Jun 18, 2025 |  |
| Eli | Eli empowers women to understand their body and the transitions it goes through every day, and across life. We develop a device that uses saliva to capture hormone fluctuations at home, and an app that gives women the information they want to own their health decisions. | $12M | Series A | Jun 10, 2025 |  |
| HostPapa | HostPapa's goal is to provide every customer with a fully-featured hosting package, backed by top customer service and powered by renewable green energy. HostPapa is an established, privately owned company and a leader in high-value, low-cost hosting.Over the years, HostPapa has built a solid reputation for their commitment to security,reliability, technical expertise and the best in customer support.Although HostPapa has experienced considerable growth, one thing hasn't changed: they have always believed in treating each HostPapa customer as part of the family. They aim to treat their family well, and strive to provide uninterrupted service, comprehensive educational resources, and all the tools needed to develop an exciting, accessible, quality website. | $130M | Debt Financing | Jun 03, 2025 |  |
| Northstar Clean Technologies | Northstar Clean Technologies focuses on the recovery of components and provides Environmentally-friendly reprocessing solutions for single-use asphalt shingles. The company was founded in 2017 and is headquartered in Delta, British Columbia, Canada. | $6.3M | Post-IPO Debt | May 20, 2025 |  |
| Ces Energy Solutions | ​CES Energy Solutions is an energy company that provides consumable chemical solutions for the North American oil and gas industry. Its services span the entire oilfield lifecycle, including drilling fluids, completion and stimulation chemicals, production chemicals, and pipeline and midstream treatments. The company offers products such ascorrosion inhibitors, scale inhibitors, demulsifiers, H₂S scavengers, and paraffin control agents. | $397.6M | Post-IPO Debt | Apr 28, 2025 |  |
| GlitchSecure | Real-time Continuous Security Testing | $1.4M | Seed | Apr 14, 2025 |  |
| PrePad | PrePad provides advanced software solutions for optimizing capital lifecycle management, execution tactics, and asset development in the oil and gas drilling and completion industries. |  | Grant | Apr 10, 2025 |  |

10 of 153 investments shown.

## Co-investors
- [Business Development Bank of Canada](https://shizune.co/investors/profile/business-development-bank-of-canada) — VC Fund, 152 deals together
- [Export Development Canada](https://shizune.co/investors/profile/export-development-canada) — VC Fund, 13 deals together
- [Investissement Quebec](https://shizune.co/investors/profile/investissement-quebec) — VC Fund, 10 deals together
- [Innovacorp](https://shizune.co/investors/profile/innovacorp) — VC Fund, 9 deals together
- [Volta Labs](https://shizune.co/investors/profile/volta-labs) — VC Fund, 8 deals together
- [BDC Capital Cleantech Practice](https://shizune.co/investors/profile/cleantech-practice) — VC Fund, 7 deals together

## Similar investors

### Similar industry
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [SV Angel](https://shizune.co/investors/profile/sv-angel) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar country
- [BDC Venture Capital](https://shizune.co/investors/profile/bdc-venture-capital) — VC Fund
- [Real Ventures](https://shizune.co/investors/profile/real-ventures) — VC Fund
- [Anges Quebec](https://shizune.co/investors/profile/anges-quebec) — VC Fund

## Featured in investor lists
- [All Investors in Canada](https://shizune.co/investors/investors-canada)
- [All VC Funds in Canada](https://shizune.co/investors/vc-funds-canada)
- [SaaS Investors in Canada](https://shizune.co/investors/saas-investors-canada)
- [SaaS VC Funds in Canada](https://shizune.co/investors/saas-vc-funds-canada)
- [Software Investors in Canada](https://shizune.co/investors/software-investors-canada)
- [Enterprise Investors in Canada](https://shizune.co/investors/enterprise-investors-canada)

## FAQ

### What does Business Development Bank of Canada invest in?

Business Development Bank of Canada invests primarily in Software, Information Technology and Manufacturing startups, most often at Seed and Debt Financing stage. Most of the 153 investments tracked by Shizune back companies in Canada. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Business Development Bank of Canada's check size?

Business Development Bank of Canada typically joins rounds of $1.2M–$5M at Seed, $5M–$18M at Series A and $350k–$130M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Business Development Bank of Canada participates in.

### How do I contact Business Development Bank of Canada?

Public channels for Business Development Bank of Canada include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Business Development Bank of Canada?

The team at Business Development Bank of Canada includes Benoit Forcier (Cleantech Practice), Benoit Mignacco (Vice-President, Portfolio Management - Growth Capital and Business Transfer) and Chantal Belzile (Management), among 16 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co