MONTREAL, Sept. 20, 2012 /CNW Telbec/ - BDC Venture Capital has once again been recognized for its leadership in helping to build outstanding Canadian companies, winning the Canadian Venture Capital and Private Equity Association's prestigious Deal of the Year Award in the venture capital category for the second year in a row.
Along with co-investor New Brunswick Investment Management Corporation (NBIMC), BDC Venture Capital received the award for its investment in Q1 Labs Inc., a New Brunswick-based provider of high-value, cost-effective security intelligence software that was acquired by IBM in late 2011. BDC was the first institutional investor in the company in the first round of financing in 2003, together with NBIMC, and the largest Canadian investor at exit, which generated one of the highest capital return ever obtained by BDC's VC group.
"None of this would be possible without the hard work and dedication of Q1 Labs management and staff, so congratulations to them," said Paul Kirkconnell, Executive Vice-President, Venture Capital, at BDC. "We are thrilled to be receiving this award again this year, because it recognizes of what we're all about at BDC Venture Capital: helping to build outstanding Canadian technology companies while realizing positive return on our investment. The successful exit for Q1 Labs is a testament not only to the expertise and patience of the BDC Venture Capital team, but also to the strength of our national scope, which allows us to support promising companies wherever they are."
This is the second year running that BDC Venture Capital has been recognized for a successful investment in an Atlantic Canadian company: in 2011, it shared Deal of the Year honours for its role in building Radian6 Technologies Inc., a social media monitoring and analysis company based in Fredericton. This year's award marks the third time in four years that BDC Venture Capital has won Deal of the Year, having secured the honour in 2009 for its successful exit from ViroChem Pharma.
About BDC Venture Capital
BDC Venture Capital is a major venture capital investor in Canada. We work with entrepreneurs and other investors to build outstanding Canadian companies, and are involved at every stage of our investee companies' development cycles, from seed through expansion. Our goal is to deliver excellent return on our investments while fulfilling a crucial role as a strategic partner in the Canadian venture capital industry. With more than $1 billion in current and planned investments and 25 years of experience in venture capital, our focus is on innovative IT, health and energy/clean technology companies with high growth potential.
SOURCE: BUSINESS DEVELOPMENT BANK OF CANADA
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