BDC Capital, Globalive Capital, Provide Seed Funding to Grow Canada's Most Promising Startups
TORONTO, June 15, 2016 /CNW/ - The Next 36, Canada's premiere program for the country's most promising entrepreneurs is launching the Young Founders Fund, a new venture capital fund to invest in businesses built within The Next 36 program. The prior fund, 36 Investments Inc., invested in companies including, Bridgit, Kira Talent, SeamlessMD and Revlo, and is now fully invested. Young Founders Fund is led by BDC Capital and includes participation from Globalive Capital and private investors such as Lee Lau.
Supported by more than 300 business leaders across Canada – including W. Galen Weston, Jimmy Pattison and the late Paul Desmarais Sr. as Founding Patrons – The Next 36 provides world class founder development, business mentorship and venture building to the country's most promising entrepreneurs.
"BDC Capital is investing in The Next 36's Young Founders Fund to stimulate Canadian innovation and invest in the next generation of entrepreneurs," says Jérome Nycz, executive vice-president of BDC Capital. "Since it launched in 2010, The Next 36 program has had a meaningful impact on Canada's ecosystem. It helps students embrace entrepreneurship and innovation seeding Canada's future prosperity. It has enabled over 220 highly promising undergraduates and recent graduates from 37 different universities to get a new venture going. A large majority have then gone on to grow their company, start a second one, or become co-founders or key employees in another."
The current cohort of N36 entrepreneurs was chosen in December and is now spending an intense summer in Toronto, building their companies with the support of their mentors, a proven educational program, a pool of business advisors and access to up to $50,000 per venture through the Young Founders Fund. "This is not an academic exercise," says Peter Carrescia, managing director of The Next 36. "We have some of Canada's top investors in this fund, providing our entrepreneurs with access to the capital they need to build globally relevant businesses."
The Next 36 mentors also have an impressive entrepreneurial and venture capital track record and include, Janet Bannister – general partner at Real Ventures and former head of Kijiji Canada, Mike Silagadze – founder and CEO of Top Hat, Kirk Simpson – co-founder and CEO of Wave, Andy Yang – CEO of 500px and Ben Zifkin – founder and CEO of Hubba.
The Next 36 and related programs have contributed to the success of industry-changing start-ups including, Bridgit, Kira Talent, Nymi, Revlo and Thalmic Labs in its first five years, as well as the creation of over 820 new jobs and over $50 million in funding raised by alumni since inception.
About The Next 36
The Next 36 delivers world-class founder development, business mentorship and venture building programs to Canada's most promising young entrepreneurs. We believe that by fast-tracking the development of Canada's most talented young innovators, we will help create industry-changing businesses and grow Canada's long-term prosperity. The Next 36 is supported by National Partners that include, EY, MaRS, MasterCard, Osler, Hoskin & Harcourt LLP and TD Bank Group. The Next Founders is the second program from The Next 36 and is designed for young founders of high growth start-ups looking to scale quickly.
About BDC Capital
With more than $2 billion under management, BDC Capital is the investment arm of BDC, serving as a strategic partner to Canada's most innovative and high potential firms. It offers a range of equity, venture capital and flexible growth and transition capital solutions to help Canadian entrepreneurs scale their businesses into global champions. To find out more, visit bdc.ca/capital.
About Globalive Capital
Globalive Capital is the investment company of Anthony Lacavera and his team including Brice Scheschuk, Simon Lockie and David Roff. The partners have a combined 80 years of operating and investing experience and have founded and operated five companies including WIND Mobile, which was sold to Shaw Communications for $1.6 billion. Globalive Capital invests principal capital in multiple asset classes including venture, private equity, real estate and infrastructure. The company has made over 75 investments and is well-known as a strategic, entrepreneur friendly investor. For more information, please visit www.globalive.com
SOURCE The Next 36
For further information: Peter Carrescia, Managing Director, The Next 36, 647-259-8943 x103, [email protected]; Maria Constantinescu, Senior Advisor, Media relations, BDC, [email protected], 1-844-625-8321