BDC Capital

BDC Capital Inc. is the private equity and venture capital arm of the Business Development Bank of Canada, focusing on direct and fund of funds investments. It specializes in various financing options, including subordinate, recapitalization, bridge, and venture capital, targeting middle market, later stage, and small to medium-sized businesses. BDC Capital engages in venture capital activities across all stages, from seed funding to pre-IPO financing, with a particular emphasis on technology and healthcare sectors. Its investment strategy includes a commitment to supporting women-led firms and spans industries such as life sciences, telecommunications, information technology, and advanced technologies. The firm typically invests between CAD 0.1 million and CAD 35 million, often seeking minority stakes and board representation in its portfolio companies. BDC Capital prefers to exit investments within three to five years, utilizing strategies such as initial public offerings and strategic sales. Established in 1975 and headquartered in Montreal, the firm also has offices in British Columbia, Ontario, Quebec, and Alberta, focusing its investments primarily within Canada.

Steven Abrams

Partner

Dinar Ahmed

Partner

Nabil El Asraoui

Associate

Lenka Baloghova

Associate

Amine Benmoussa

Principal

Disha Bhargav

Associate

Jeremy Billan

Partner, Growth Equity Partners

Ela Borenstein

Vice President

Sara Cavalluzzi

Associate

Cheri Corbett

Director

Olivier Côté

Associate

Kristina D’Amico

Director, Fund Investments

Kyle Feucht

Director

Ajay Gopal

Associate Director

Vivian Kan

Partner

Karim Kennedy

Director - Cleantech Practice

Leonard Kofman

Partner, Intellectual Property-Backed Financing

Sandy Li

Associate

Guillaume Mercier

Senior Vice President, Advisory Services and Business Strategy

Mona Minhas

Partner, Thrive Venture Fund

Claude Miron

Managing Partner - Growth Equity Partners

Anamika Mukherjee

Partner of Industrial, Clean and Energy Technology Venture Fund

Alison Nankivell

Vice President, Fund Investments and Global Scaling

Katherine Nicanorova

Associate

Michael Notto

Partner, Growth Equity Partners

Thomas Park

Partner

Salman Qadir

Associate

Loren Rafeson

Partner, Growth Equity Partners

Karl Reckziegel

Senior Vice President, Direct Investments

Joseph Regan

Managing Partner, Industrial Innovation Fund

Lally Rementilla

Managing Partner, IP-Backed Financing

Victor Scutaru

Managing Director, Private Equity Funds Portfolio

Matt Stanley

Partner, Climate Tech Fund

Stephanie Tadros

Associate

Zoltan Tompa

Director, Cleantech Practice

Ron Warburton

Managing Partner

Past deals in Alberta

Summit Nanotech

Series A in 2022
Summit Nanotech Corporation is a business-to-business company based in Calgary, Canada, founded in 2018. It specializes in nanotechnology to develop innovative solutions for lithium extraction, aiming to optimize operations for lithium producers while minimizing environmental impact. The company's patented extraction technology is designed to deliver economically competitive, battery-grade lithium, addressing the industry's demand for sustainable practices. By focusing on modular commercial systems, Summit Nanotech seeks to upscale and commercialize its advanced concepts in lithium extraction, positioning itself as a leader in the energy development sector.

Hydrodig

Debt Financing in 2022
Hydrodig is a provider of hydro-excavation services. Hydro-excavation is safer, faster, and more cost-effective alternative than excavating with heavy machinery or by hand around buried infrastructure.

Eavor

Venture Round in 2021
Eavor Technologies Inc. is a geothermal technology company based in Calgary, Canada, founded in 2017. It focuses on creating a clean and reliable energy future through its innovative Eavor-Loop™ system, which extracts heat from deep within the Earth for commercial heating and electricity generation. This system employs advanced drilling techniques and integrates existing commercial components in a novel configuration, allowing for scalable and steady green power production. Eavor's technology circulates a benign working fluid in a closed loop, isolating it from the environment while harvesting heat from geologically accessible rock temperatures. The company also operates the Eavor-Lite™ Demonstration Project as a prototype for its technology suite, addressing challenges traditionally associated with geothermal energy.

VEERUM

Series A in 2021
VEERUM Inc. is an Industrial Internet of Things (IIoT) company based in Calgary, Canada, specializing in digital asset management through its innovative Asset Visualization Platform. Founded in 2014, VEERUM leverages artificial intelligence and digital twin technology to create a digital replica of physical assets, enabling stakeholders to visualize and optimize projects throughout their entire lifecycle—from design and fabrication to construction. The platform provides a secure, cloud-based solution that offers data transparency and real-time insights within a 3D model, facilitating enhanced collaboration and decision-making. By allowing users to access aggregated asset data and maintain a comprehensive audit history, VEERUM aims to improve productivity and ensure business continuity in capital-intensive industries, thereby supporting clients in the transition to digital asset ownership.

Preciseley Microtechnology

Private Equity Round in 2020
Preciseley Microtechnology Corporation specializes in the design and manufacture of micro-electromechanical system (MEMS) products, particularly micro-mirrors and mirror arrays, which are integral to 5G telecommunications, datacom, and 3D sensing markets. Established in 2006 and based in Edmonton, Canada, the company offers a range of products including MEMS tilting, scanning, and piston mirrors, linear and matrix mirrors, optical shutters, packaged mirror and array chips, and driver evaluation boards. In addition to its core mirror technologies, Preciseley develops MEMS sensors for applications like seismic sensing and high-temperature pressure sensing for downhole operations. The innovative micro-optical technology employed by the company enhances detection capabilities in optical and display systems while also facilitating custom product design to meet diverse client needs.

CoolIT Systems

Venture Round in 2020
CoolIT Systems works research, design, and deliver next generation cooling products that provide a comprehensive solution while exceeding high OEM standards for reliability and maintenance-free operation. This carefully designed and patented technology unleashes the full potential of a PC, providing superior cooling performance while reducing system level noise and improving reliability of vital components. CoolIT also works with the AMD engineering group to provide the Reference cooling solution for the latest high performance video cards.

Drillform

Private Equity Round in 2020
Drillform Technical Services Ltd. specializes in the design, manufacture, and servicing of robotic drilling equipment tailored for both land and offshore rigs. The company’s product lineup includes automated floor wrenches, pipe handlers, and top drives, all engineered for ease of maintenance and support in the field. In addition to manufacturing, Drillform provides a comprehensive range of services, such as equipment overhaul and repair, installation and commissioning, operational fine-tuning, preventative maintenance, and 24/7 on-site support and training. Established in 2009 and headquartered in Calgary, Canada, Drillform operates in key markets including Canada, the United States, and the Middle East, with service facilities located in Odessa, Texas, and Abu Dhabi, United Arab Emirates.
Benchmark Instrumentation & Analytical Services is an employee owned measurement solution company. The company provide the means to capture your measurement on your terms, and we expect our performance to be benchmarked by your experience with us.

Nemalux

Private Equity Round in 2019
Nemalux is a manufacturer based in Calgary that specializes in LED lighting products. The company designs and produces a range of lighting solutions for various applications, including indoor and outdoor settings, and caters to industrial, commercial, and hazardous environments. In addition to its lighting products, Nemalux provides installation services for poles, lighting fixtures, and related accessories. Through its focus on quality and safety, the company aims to meet the specific needs of its diverse clientele in the consumer electronics sector.

Lube City

Private Equity Round in 2019
Lube City Corp. is a Canadian company based in Edmonton that specializes in oil change and fleet maintenance services for automobiles. Established in 1990, Lube City provides a variety of offerings including automatic oil changes, transmission fluid services, fuel treatments, power steering fluid replacements, and battery replacements. The company also delivers additional services such as engine flushes, radiator coolant system maintenance, fuel system services, tune-ups, and fuel filter replacements. With a focus on the harsh driving conditions experienced in Alberta, Lube City aims to assist customers in maintaining their vehicles and ensuring optimal performance through its comprehensive service offerings.

Hifi Engineering

Venture Round in 2019
HiFi Engineering Inc. specializes in the development of fiber optic sensing systems designed for the oil and gas industry. The company creates advanced monitoring solutions, including sensing cables, downhole tools, and software for data acquisition and interpretation, aimed at applications such as reservoir monitoring, pipeline integrity, and leak detection. Notable products include the HDS MiCro tool for downhole flow and the HDS MaCro system for permanent monitoring of pipelines and reservoirs. Founded in 2007 and headquartered in Calgary, Canada, HiFi Engineering serves North American oil and gas service companies. The company’s technology is supported by over 33 patents and collaborative relationships with major industry players, enhancing its capacity to deliver high-quality data to its customers.

Recover Energy Services

Venture Round in 2019
Recover Energy Services Inc. is an environmental technology company based in Calgary, Canada, specializing in the removal and recycling of oil from drill cuttings generated by oil-based mud drilling. Founded in 2008, the company employs a patented process to clean oil-based drilling waste, successfully recovering base oil while significantly reducing carbon dioxide emissions. This innovative approach allows oil and gas companies to manage their oil-based drill cuttings in a safe, cost-effective, and environmentally responsible manner. Previously known as Cutting Edge Systems Inc., the company adopted its current name in March 2016, reflecting its focus on sustainable practices within the Canadian oil field industry.

Fiasco Gelato

Venture Round in 2019
Fiasco is an artisan gelato and sorbetto manufacturer and wholesaler which prides itself on using quality ingredients and production processes. A Certified B Corp since 2016, Fiasco was named a “Best for the World” honouree in 2018. The company was also recognized last month as one of the “Best Workplaces in Canada” by Great Place to Work and one of “Canada’s Top Small & Medium Employers” by Mediacorp Canada.
Quorum is a North American company focused on developing, marketing, implementing and supporting its XSELLERATOR product for GM, Isuzu, Chrysler, Hyundai, KIA, Nissan, Subaru, NAPA and Bumper to Bumper dealerships. XSELLERATOR is a dealership and customer management software product that automates, integrates and streamlines every process across departments in a dealership.

Field Upgrading

Venture Round in 2018
Field Upgrading Limited collaborates with Ceramatec, a research and development firm specializing in advanced ceramic materials, to create a novel process known as De-Sulphurization & Upgrading (DSU™). This innovative technique addresses the challenges of sour heavy oil by combining elemental molten sodium and small amounts of hydrogen with sour feedstock, resulting in a low sulphur upgraded heavy oil product. The DSU™ process is notable for its ability to significantly enhance the quality of heavy oil, achieving an 8-10 API increase, which directly correlates to a reduction in sulphur content. By offering this advanced sulphur removal and upgrading technology, Field Upgrading aims to optimize operational efficiency for oilfield operators, enabling remote management of production processes and ultimately leading to increased productivity and cost savings within the oil and gas industry.

Nobal

Seed Round in 2018
The top priorities in retail are to create shopping experiences with engaging digital applications and streamlining the path to purchase. The era of integrated omnichannel retail is built on experiences that delight consumers. NOBAL creates innovative and intuitive digital interfaces to enhance customer experience. The iMirror’s versatile user experience, interface, and hardware display, is custom designed to reflect company brand and public image and is usable across multiple industries.

Circle Cardiovascular Imaging

Venture Round in 2016
Circle Cardiovascular Imaging specializes in developing and marketing advanced software solutions for the post-processing of cardiovascular imaging, specifically for magnetic resonance imaging (MRI) and computed tomography (CT) images. Its primary products include cmr42 and ct42, which facilitate the analysis of cardiovascular MR and CT images, respectively, as well as cvi42, which integrates both modalities for comprehensive evaluations. Additionally, report42 aids in the documentation and reporting of these images. The software is designed to support the diagnosis and management of various cardiovascular conditions, including heart failure, coronary artery disease, and myocardial infarction, among others. Circle Cardiovascular Imaging also provides training, education services, and product support to enhance the user experience. Founded in 2007 and headquartered in Calgary, Canada, the company distributes its products through a global network, serving both clinical and research environments.

Nobal

Convertible Note in 2016
The top priorities in retail are to create shopping experiences with engaging digital applications and streamlining the path to purchase. The era of integrated omnichannel retail is built on experiences that delight consumers. NOBAL creates innovative and intuitive digital interfaces to enhance customer experience. The iMirror’s versatile user experience, interface, and hardware display, is custom designed to reflect company brand and public image and is usable across multiple industries.

SafetyTek

Seed Round in 2016
SafetyTek is a safety engagement platform built to automatically implement a companies safety program. When safety is properly enforced companies see the elimination of unplanned work stoppages, they reveal the true value of safety where every $1 in make $8 in revenue, and they invest in their reputation by retaining top talent and gain repeat business from clients. SafetyTek delivers accountable real-time safety performance!

Circle Cardiovascular Imaging

Venture Round in 2012
Circle Cardiovascular Imaging specializes in developing and marketing advanced software solutions for the post-processing of cardiovascular imaging, specifically for magnetic resonance imaging (MRI) and computed tomography (CT) images. Its primary products include cmr42 and ct42, which facilitate the analysis of cardiovascular MR and CT images, respectively, as well as cvi42, which integrates both modalities for comprehensive evaluations. Additionally, report42 aids in the documentation and reporting of these images. The software is designed to support the diagnosis and management of various cardiovascular conditions, including heart failure, coronary artery disease, and myocardial infarction, among others. Circle Cardiovascular Imaging also provides training, education services, and product support to enhance the user experience. Founded in 2007 and headquartered in Calgary, Canada, the company distributes its products through a global network, serving both clinical and research environments.

3esi

Seed Round in 2006
3esi provides software solutions for the oil and gas industry.

Optessa

Seed Round in 2005
Optessa provides optimal intelligent planning and scheduling solutions for manufacturing companies. The company focuses is to deliver complete solutions ready for execution by the shop floor. The company's rich constraints library will not only address current needs but will also meet future needs without the need for development. Its patented solver considers the entire solution space and arrives at an optimal solution. The company's planning and scheduling solutions can be applied as individual solutions but are most powerful when combined enabling for the alignment of production rules between planning and scheduling. Applying production rules for the slotting of orders during planning guarantees that all relevant plant and supplier capacities and sales requirements are taken into consideration resulting in feasible input for short term scheduling in turn leading to a high quality solution. Optessa was founded on 2001 and is based in Edmonton, Alberta, Canada.
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