# Benoit Forcier

> Benoit Forcier is a Series B investor at Business Development Bank of Canada backing Sensor. See 7 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Business Development Bank of Canada](https://shizune.co/investors/profile/business-development-bank-of-canada)
- Location: Montréal, Canada
- Total investments: 7
- Last investment: Mar 2023
- Lead investor: 43%
- Last updated: Aug 2026
- LinkedIn: https://ca.linkedin.com/pub/benoit-ben-forcier/18/248/75
- Website: http://www.cyclecapital.com/

Benoit Forcier is a Series B investor at Business Development Bank of Canada in Montréal focused on Sensor and Travel. Benoit (Ben) is a Senior Partner at Cycle Capital. He Attended Concordia University.

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Sensor | 1 | 14% |
| Travel | 1 | 14% |
| Railroad | 1 | 14% |
| Logistics | 1 | 14% |
| Health Care | 1 | 14% |

12 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series B | 3 | 43% |
| Seed | 2 | 29% |
| Funding Round | 2 | 29% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Airex Energy | Airex Energy has successfully developed an exciting new technology for biomass torrefaction. Based on a unique patented cyclonic bed reactor, CarbonFX enables large scale biocoal production from a variety of feedstock, including woody biomass and agricultural waste. | $27.4M | Series B | Mar 10, 2023 |  |
| Effenco | Effenco is an autotech company company specializing in heavy-duty vehicle electrification and connected mobility for the transport industry. It develops and markets its Active-Stop-Start electric hybrid technology, a system that improves the energy efficiency of heavy goods vehicles and reduces its greenhouse gas emissions by 30%. Thecompany's current technology electrifies the propulsion and on-board equipment of vocational heavy-duty trucks, using an ultracapacitor-based technology.Effenco’s technology is an electric system designed to shut down the engine of vocational trucks when they are stationary and to provide electric power to the vehicle equipment, cab and chassis accessories including the HVAC system. Their system eliminates engine to use when immobile for a new and existing heavy-duty vehicle.Effenco was founded in 2006 and is headquartered in Montréal, Quebec, Canada with operations in the United States and Europe. |  | Series B | Sep 11, 2020 |  |
| Flyscan | Flyscan develops automated, airborne, leak and threat detection services for oil and gas pipeline operators. | $4.2M |  | Aug 11, 2020 |  |
| Thymox Technology | Laboratoire M2 manufactures innovative disinfection products from its proprietary platform named THYMOX TECHNOLOGY. Laboratoire M2 is also working on expanding its line of THYMOX TECHNOLOGY products and applications.the lab which has developed this technology branded as THYMOX.In order to ensure its exclusive ownership of the technology,Laboratoire M2 acquired the intellectual property rights to Thymox. The company holds Canadian and US and South-American patents on the product’s formulation and application, and has applied for patents in 40 other countries. |  | Series B |  |  |
| Airex Energy | Airex Energy has successfully developed an exciting new technology for biomass torrefaction. Based on a unique patented cyclonic bed reactor, CarbonFX enables large scale biocoal production from a variety of feedstock, including woody biomass and agricultural waste. |  |  |  |  |
| Airex Energy | Airex Energy has successfully developed an exciting new technology for biomass torrefaction. Based on a unique patented cyclonic bed reactor, CarbonFX enables large scale biocoal production from a variety of feedstock, including woody biomass and agricultural waste. |  | Seed |  |  |
| Thymox Technology | Laboratoire M2 manufactures innovative disinfection products from its proprietary platform named THYMOX TECHNOLOGY. Laboratoire M2 is also working on expanding its line of THYMOX TECHNOLOGY products and applications.the lab which has developed this technology branded as THYMOX.In order to ensure its exclusive ownership of the technology,Laboratoire M2 acquired the intellectual property rights to Thymox. The company holds Canadian and US and South-American patents on the product’s formulation and application, and has applied for patents in 40 other countries. |  | Seed |  |  |

7 of 7 investments shown.

## Co-investors
- [Business Development Bank of Canada](https://shizune.co/investors/profile/bdc-capital) — VC Fund, 2 deals together
- [Investissement Quebec](https://shizune.co/investors/profile/investissement-quebec) — VC Fund, 2 deals together
- [Desjardins-Innovatech](https://shizune.co/investors/profile/desjardins-innovatech) — VC Fund, 1 deal together
- [Enbridge](https://shizune.co/investors/profile/enbridge) — VC Fund, 1 deal together
- [Export Development Canada](https://shizune.co/investors/profile/export-development-canada) — VC Fund, 1 deal together
- [Fonds de solidarité FTQ](https://shizune.co/investors/profile/fonds-de-solidarit-ftq) — VC Fund, 1 deal together

## About Business Development Bank of Canada

VC Fund · Montréal, Canada

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.

5 contacts available at Business Development Bank of Canada.

| Name | Title | Profile |
| --- | --- | --- |
| Chantal Belzile | Management | https://shizune.co/investors/profile/chantal-belzile |
| Jack Fraser | Partner - Late Stage Growth Fund | https://shizune.co/investors/profile/jack-fraser |
| Louise Paradis | Management | https://shizune.co/investors/profile/louise-paradis |
| Mary Karamanos | Management | https://shizune.co/investors/profile/mary-karamanos |
| Mary Karamanos | Management | https://shizune.co/investors/profile/mary-karamanos-21f1 |

## Similar investors

### Similar stage
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund
- [FJ Labs](https://shizune.co/investors/profile/fj-labs) — VC Fund

## FAQ

### What does Benoit Forcier invest in?

Benoit Forcier invests primarily in Sensor, Travel and Railroad startups, most often at Series B and Seed stage. Most of the 7 investments tracked by Shizune back companies in Canada. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### When did Benoit Forcier last invest?

The most recent investment recorded for Benoit Forcier closed in Mar 2023. Shizune tracks 7 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### 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.

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