MONTREAL, July 15, 2013 /CNW Telbec/ - BDC Venture Capital, one of Canada's largest and most active venture
investors, is announcing today that it is committing $1.5 million to 10
recent graduates of three Canadian technology accelerators, including,
for the first time, two graduates of Launch36, a New Brunswick-based
accelerator for Atlantic Canadian startups. This brings to 49 the
number of accelerator graduates supported since BDC Venture Capital
launched this program in mid-2011, totalling investments of $7.35
"Making first-time investments in such promising startups is part of our
strategy to build a healthy Canadian ecosystem," says Senia Rapisarda,
the vice-president at BDC Venture Capital in charge of these
initiatives. "We'll also be looking at connecting these entrepreneurs
with angel and venture capital as well as providing them with other
forms of non-financial support." BDC Venture Capital undertakes several
other strategic ecosystem-building activities and intends to amplify
the support it has been providing within the Canadian early-stage
venture ecosystem. "We continue to explore additional ways we can
support Canadian graduates of top accelerators both within the country
and abroad," says Ms. Rapisarda.
ATLANTIC STARTUPS TO BENEFIT FROM ADDITIONAL FUNDS
BDC Venture Capital is investing $150,000 in RUMAnalytics and AnalyzeRE respectively, two of the companies that completed Atlantic Canada's
Launch36 accelerator program this past March. Members of future cohorts
will also be eligible for $150,000 seed investments. A joint
BDC Venture Capital and Launch36 committee will identify the most
promising investment candidates among the companies judged to be
"venture-ready" upon completion of the program.
INVESTMENTS IN GRADUATES OF ONTARIO ACCELERATORS
BDC Venture Capital is also investing $150,000 in five graduates of
Kitchener-Waterloo-based Communitech HYPERDRIVE's April cohort (BeanEvo, ViewsIQ, Groupnotes, Dandy and Cream.hr) and three companies who recently completed Toronto's Extreme Startups
accelerator program (BRIKA, Instaradio and Koge).
Investments in these companies are in the form of convertible notes,
which are short-term loans that are usually converted into shares later
on in the company's life. The seed investments are intended to help
these very early-stage startups weather a period that can be very tough
for them, as they continue working to generate revenues and position
themselves for more substantial rounds of financing.
STRENGTHENING CANADA'S VC ECOSYSTEM
BDC Venture Capital is also a major investor in the FounderFuel,
GrowLab, Extreme Startups and Execution Labs private-sector
accelerators, as well as a strategic funding partner of HYPERDRIVE and
of Montreal's Notman House. It is an investor in a number of seed and
early-stage VC funds, such as Version One Ventures, Real Ventures, and
Atlantic Canada's Build Ventures fund. It is working with NACO on
Canadian angel group development, and is a strategic partner of DFAIT's
Canadian Technology Accelerators (CTAs) in the United States. In
addition, it is Startup Weekend Canada's national partner, a sponsor of
hackathons and other entrepreneur-matching and development activities
across Canada, as well as a premier partner of the C100.
ABOUT THE COMPANIES
Analyze Re is using its industry experience to provide pricing and risk management
software which helps reinsurers to minimize their risk and maximize
their profits. Using their innovative high performance computing
solution which is delivered via the cloud, they unlock a holistic view
of the data which enables reinsurers to make smarter decisions.
The number one factor in website conversions is speed. RUMAnalytics helps ecommerce websites become fast and efficient, like Amazon.com,
loading faster and leading to greater conversions and increased sales.
BeanEvo is the driving force behind BeanWorks; a revolutionary SaaS platform
that provides any sized company with an easy-to-use, cost-saving and
customizable accounts payable workflow automation solution.
ViewsIQ is a medical imaging company, focused on providing slide digitization
solutions to clinical laboratories and academic institutions. Designed
to integrate seamlessly into the laboratory's existing microscopy
workflow, ViewsIQ's innovative Panoptiq product platform provides
maximum control over the digitization process of patient samples at the
highest quality possible. Panoptiq enables clinicians to provide high
quality of care virtually to patients anywhere around the world.
Groupnotes builds link and content sharing right into your browser.
Dandy is a launchpad for great app ideas, and a graveyard for bad ones. Users
dream up app ideas and our community decides which ideas should be
considered for development. The community helps in every stage of the
design process from feature suggestions, UI feedback, name and tagline.
The community also helps beta test the idea, distribute the app and
profits are then divided amongst the community based on the each user's
level of contribution.
Cream.hr scientifically screens large pools of applicants and rapidly shortlists
the right people for job fit and company culture, and easily identifies
high potential candidates before anyone reads a resume.
From Extreme Startups
BRIKA is the destination for only the most beautiful, unique and well-crafted
goods. We celebrate and elevate modern craft and believe in the power
and network effects of storytelling.
Instaradio is a mobile platform for creating and discovering high quality live
audio that can be listened to on any phone, tablet, or computer.
Koge is a vertically integrated online retailer that provides premium
vitamins personalized for your unique lifestyle.
ABOUT BDC VENTURE CAPITAL
With more than $1 billion under management and more than 25 years of
industry experience, BDC Venture Capital is an investor of choice
focusing on IT, health, and energy/clean technology companies, as well
as venture funds, with high growth potential. From seed through
expansion to exit, our mandate is to help build outstanding Canadian
companies, while working to create a sound financial ecosystem for
Canadian technology ventures. Find out more at www.bdc.ca/vc or on Twitter @BDC_VC.
SOURCE: BDC Venture Capital
For further information:
BDC Venture Capital