Business Development Bank of Canada

The Business Development Bank of Canada (BDC) is a government-owned financial institution established in 1944, headquartered in Montreal. It aims to foster economic growth and job creation by providing financial products and services primarily to small and medium-sized enterprises (SMEs) across Canada. BDC offers a range of services, including business loans, subordinate financing, venture capital, and consulting support in areas such as strategic planning and human resource management. The bank serves various industries, including aerospace, automotive, construction, food and beverage, manufacturing, mining, oil and gas, technology, and tourism. With a network of over 100 offices, BDC operates in both official languages, ensuring access to its services for a diverse clientele nationwide.

Trevor Allibon

Managing Director, Subordinate Financing

Timothy April

Managing Director

Cheri Corbett

Senior Partner, Cleantech Practice

Saif Hashmi

Principal

Vern Malcolm

Managing Director, Growth and Transition Capital

Jérôme Nycz

Executive Vice President, BDC Capital

Matt Price

Managing Director, Growth and Transition Capital

Sal Rabbani

Managing Partner, Advisory Services

Andrianiaina Rajaobelina

Associate Principal

Michelle Scarbourgh

Managing Partner, Thrive Venture Fund for Women and Women in Technology Venture Fund

Kunle Tauhid

Vice President, Financing and Consulting

Ronald Warburton

Managing Partner

Angelo Zeni

Managing Director, Growth and Transition Capital

Past deals in Toronto

Hojicha Co.

Debt Financing in 2022
Hojicha Co. is the first brand to specialize in Japanese roasted green tea outside of Japan.

KOHO

Series D in 2022
KOHO Financial Inc. is a financial technology company based in Toronto, Canada, founded in 2014. It offers low-cost banking services through a prepaid, reloadable Visa debit card and a mobile application designed to simplify financial management for users. The platform enables customers to conduct their daily banking operations while providing tools for expense management, such as setting financial goals, cash flow projections, group spending features, and spending insights. These functionalities allow users to effectively manage their finances and make informed spending decisions while on the go.

Xanadu

Series B in 2021
Xanadu Quantum Technologies Inc., founded in 2016 and based in Toronto, Canada, specializes in developing photonic quantum computers. The company integrates quantum silicon photonic chips into existing hardware to create full-stack quantum computing solutions. Xanadu offers several software tools, including PennyLane, a Python library for quantum machine learning and hybrid quantum-classical computations, and Strawberry Fields, an open-source programming language for quantum computing. The company aims to make quantum computing accessible and beneficial by addressing real-world challenges and enhancing computational capabilities beyond classical methods. By combining expertise from leading scientists and industry professionals, Xanadu is positioning itself as a significant player in the quantum technology landscape.

The GIST

Debt Financing in 2021
The GIST is an audience engagement company focused on connecting and empowering underserved sports fans, particularly women, within the sports industry. Founded by women who recognized the lack of diversity and representation in sports conversations, The GIST addresses the challenges faced by fans who often feel excluded. By providing sports news, experiences, and a community tailored specifically for women, The GIST fosters a space where female fans can engage with sports on their terms. The company aims to level the playing field and ensure that all sports enthusiasts have the opportunity to participate in discussions and experiences that enrich their connection to the sports world.

Neurescence

Debt Financing in 2021
Neurescence Inc. is a Toronto-based company established in 2014 that specializes in developing advanced assessment tools for brain diseases and therapeutics. The company offers two types of graded-refractive-index (GRIN) lenses designed for imaging various areas of the central nervous system. These thin, cylindrical lenses are implanted alongside a focus-adjustable fiber-lens connector, enabling the transmission of fluorescence signals from neurons to a CMOS sensor. Additionally, Neurescence provides the Quartet, a miniature fluorescence microscope coupled with data collection software, optimized for neuronal calcium imaging. This technology enables simultaneous monitoring of neuronal activities across multiple brain regions and the spinal cord in freely behaving subjects, aiding healthcare providers in diagnosing and treating conditions such as Alzheimer's disease, epilepsy, and depression.

Peak Power

Series A in 2021
Peak’s AI-powered software enables intelligent energy in smart cities by optimizing synthetic, stationary, and mobile batteries to act as grid resources. Peak’s solutions reduce operating costs and the environmental footprint of our clients while decreasing strain on the grid.

Borrowell

Series C in 2021
Borrowell Inc. is a financial services company based in Toronto, Canada, founded in 2014. It operates an online marketplace-lending platform that connects borrowers with lenders, offering a variety of financial products, including personal loans and credit cards. Borrowell provides Canadians with tools to manage their financial well-being, including free credit score monitoring and personalized recommendations for financial products from various partners. The platform aims to simplify the borrowing process by empowering users to make informed decisions, access low-interest loans, and improve their overall financial health. Through its innovative approach, Borrowell seeks to enhance the borrowing experience for Canadians.

Tealbook

Series A in 2021
Tealbook, Inc. operates an online supplier knowledge management and procurement platform aimed at enhancing buyer-supplier relationships. Headquartered in Toronto, Canada, the company consolidates and centralizes credible supplier information, including company details, product offerings, social media feeds, and diversity certifications. This data-driven platform facilitates procurement teams in identifying qualified suppliers, collaborating with stakeholders, and improving visibility and analytics across the supplier base. Tealbook integrates seamlessly with various enterprise systems, such as ERP and contract management tools, to streamline procurement processes. Since its incorporation in 2012, Tealbook has gained recognition for its innovative approach, earning placements on lists like the CIX Top 20 and the Gartner Cool Vendor list. The platform is designed to empower organizations by providing access to a broader ecosystem of qualified suppliers, thereby enabling agile procurement and fostering meaningful partnerships.

Skygauge

Seed Round in 2020
Skygauge has reinvented the drone to perform work not possible with drones today. Their first application is performing industrial inspections (Ultrasonic Testing). Instead of having workers on ropes, boom lifts, and scaffolding The Skygauge will perform inspections 5-10x faster. This reduces turnaround time, cost of inspection, and increases safety because workers are not exposed to work at height. Once they dominate the inspection market our core technology will branch out into pressure washing/cleaning, painting/coating, and attach a robot arm for general work. The same way robot arms created a workforce in factories their drones will create a workforce in the sky.

Tulip

Venture Round in 2020
Tulip Retail, Inc. is a developer of a cloud-based mobile platform designed specifically for retail store associates. Founded in 2013 and based in Toronto, Canada, with additional offices in Kitchener, London, Caerano di San Marco, and New York, Tulip aims to enhance the in-store experience by empowering associates with a suite of intuitive mobile applications. The platform offers features such as assisted selling, clienteling, and a comprehensive checkout system, allowing associates to access product and customer information seamlessly. Retailers use Tulip's solutions to provide an enriched omnichannel shopping experience, streamlining operations and communications while elevating customer service. Notable clients include Saks Fifth Avenue, Kate Spade, and Coach, among others.

Fable

Seed Round in 2020
Fable Tech Labs Inc. is a Toronto-based software company founded in 2018 that specializes in enhancing digital accessibility for individuals with disabilities. Its platform connects researchers, designers, and developers with users who have disabilities, allowing businesses to test and refine their online products. By leveraging feedback from individuals using assistive technology, Fable helps clients gain insights into the user experience and create customized reports aimed at improving digital accessibility. The platform offers flexible monthly plans, enabling product developers to receive consistent feedback across various assistive technologies, browsers, and devices. Fable's mission is to support the creation of accessible digital products, addressing the needs of over one billion people living with disabilities.

Symend

Series B in 2020
Symend Inc. develops a digital engagement platform designed to enhance debt recovery processes while prioritizing positive customer experiences. Founded in 2016 and based in Calgary, Canada, with additional offices in Toronto and Denver, the company utilizes behavioral science and advanced analytics to provide enterprise clients with insights into consumer behavior. This enables businesses to engage customers effectively and encourages them to resolve past due bills through personalized communications, self-service tools, and flexible repayment options. Symend's platform incorporates features such as treatment planning and campaign management, aiming to reduce debt delinquency and improve customer satisfaction. The company serves a diverse range of industries, including telecommunications, financial services, utilities, and media, and operates globally across North America, Latin America, and the Asia-Pacific region.

Clear Blue Technologies

Debt Financing in 2020
Clear Blue Technologies International Inc. specializes in off-grid power solutions that integrate renewable energy with advanced communication and cloud technology. The company develops and sells products designed to power, control, and manage solar and hybrid systems, primarily serving applications such as street lights, security systems, telecommunications, emergency power, and Internet of Things (IoT) devices. Its offerings include solar and wind controllers, telecom solar power systems, illumience cloud controls, Nano-grid power packs, and solar-powered outdoor lighting systems marketed under the Illumient brand. Additionally, Clear Blue provides remote power management services to enhance the reliability and efficiency of these systems. Headquartered in Toronto, Canada, the company operates across Canada, the United States, the Middle East, and Africa.

Tealbook

Seed Round in 2020
Tealbook, Inc. operates an online supplier knowledge management and procurement platform aimed at enhancing buyer-supplier relationships. Headquartered in Toronto, Canada, the company consolidates and centralizes credible supplier information, including company details, product offerings, social media feeds, and diversity certifications. This data-driven platform facilitates procurement teams in identifying qualified suppliers, collaborating with stakeholders, and improving visibility and analytics across the supplier base. Tealbook integrates seamlessly with various enterprise systems, such as ERP and contract management tools, to streamline procurement processes. Since its incorporation in 2012, Tealbook has gained recognition for its innovative approach, earning placements on lists like the CIX Top 20 and the Gartner Cool Vendor list. The platform is designed to empower organizations by providing access to a broader ecosystem of qualified suppliers, thereby enabling agile procurement and fostering meaningful partnerships.

Element AI

Series B in 2019
Element AI Inc. provides artificial intelligence solutions (AI) for organizations to identify opportunities to use artificial intelligence and machine learning and build AI solutions. It operates an AI as a Service (AIaaS) platform that enables businesses to launch and incubate AI solutions in partnership with large corporations. The company also operates a research and development laboratory that conducts research to deploy AI in computing infrastructure. It provides its products to insurance, banking and capital markets, manufacturing, logistics, retail, and consumer packaged goods industries. Element AI Inc. was founded in 2016 and is headquartered in Montreal, Canada with an additional office in Toronto, Canada.

Element AI

Series B in 2019
Element AI Inc. provides artificial intelligence solutions (AI) for organizations to identify opportunities to use artificial intelligence and machine learning and build AI solutions. It operates an AI as a Service (AIaaS) platform that enables businesses to launch and incubate AI solutions in partnership with large corporations. The company also operates a research and development laboratory that conducts research to deploy AI in computing infrastructure. It provides its products to insurance, banking and capital markets, manufacturing, logistics, retail, and consumer packaged goods industries. Element AI Inc. was founded in 2016 and is headquartered in Montreal, Canada with an additional office in Toronto, Canada.

Nudge

Series B in 2019
Nudge Rewards is a Toronto-based company that offers a team performance management platform designed for retailers, foodservice, and hospitality sectors. The platform includes a mobile solution that facilitates employee engagement, knowledge assessment, and performance monitoring for frontline workers, enabling brands to effectively motivate and reward their teams. Nudge's clientele features notable global brands such as Mercedes Benz, Rogers Communications, and Samsung, among others. The company, which was established in 2011 and rebranded from Greengage Mobile in 2014, has formed strategic partnerships with organizations like ReThink and BrandXP Ltd to enhance its offerings. Through its innovative app and content management system, Nudge Rewards aims to measurably improve frontline team performance and drive overall company success.

Lynx Equity

Venture Round in 2019
Lynx Equity Limited is a private equity firm based in Toronto, Canada, established in 2007. The firm specializes in management buyouts, recapitalizations, and growth capital investments, primarily focusing on small to medium-sized enterprises in North America, particularly in Ontario and Western Canada. Lynx Equity targets a variety of sectors, including manufacturing, business services, financial services, and clean-energy projects, aiming to invest between CAD $200,000 and CAD $8 million per transaction. The firm typically seeks to acquire a 100% stake in its portfolio companies, which generally have an enterprise value ranging from CAD $1 million to CAD $10 million and revenues under CAD $25 million. Lynx Equity employs a buy-and-hold strategy, with investment durations of three to five years, and structures its investments as debt with equity interest. The firm also manages private equity funds and provides diversified risk through loans guaranteed by its portfolio companies, appealing to qualified Canadian investors seeking high-yield debentures.

Blue J

Series A in 2018
Blue J Legal Inc. is a Toronto-based company that specializes in artificial intelligence software designed to predict court outcomes in employment law and tax matters. Founded in 2015, Blue J Legal offers two main products: Tax Foresight and Employment Foresight. Tax Foresight utilizes deep learning to analyze fact situations and uncover patterns in case law, enabling tax professionals to make informed judgments that align with the likely decisions of tax enforcement agencies and courts. Employment Foresight is tailored for human resource professionals, in-house counsel, and employment lawyers, providing rapid insights into how courts would address complex employment law issues, including reasonable notice, employee drug testing, worker classification, and dismissal causes. Through its innovative solutions, Blue J Legal aims to bring clarity and predictability to legal decision-making.

Delvinia

Grant in 2018
Delvinia is a digital strategy and customer experience design firm that focuses on enhancing digital interactions through innovative strategies. The company operates as a research technology and data collection entity, investing in next-generation technology and products. Delvinia provides platforms for qualitative research and research automation, catering to the consumer insight industry. By leveraging its insights and technological capabilities, Delvinia supports clients in addressing their business decision-making needs effectively.

Page Zero Media

Debt Financing in 2018
A full-service digital marketing agency specializing in Google AdWords, organic search findability, and related services. Founded in 2000 by Andrew Goodman.

TouchBistro

Series D in 2018
TouchBistro, Inc. develops iPad-based point of sale (POS) solutions tailored for restaurants, cafes, bars, food trucks, and other food and beverage venues. The company offers a variety of specialized systems, including Restaurant POS for billing and payments, Food Truck POS for mobile operations, and Coffee Shop POS for efficient order management. TouchBistro's solutions enhance operational efficiency by allowing servers to take orders directly from customers and submit them instantly to the kitchen or bar, thereby reducing errors associated with traditional order entry methods. Additionally, the company provides a range of complementary products such as TouchBistro Reservations for guest management, cloud reporting and analytics tools, and a Kitchen Display system. Founded in 2010, TouchBistro is headquartered in New York, with an additional office in Toronto, and its products are available through the Apple App Store in the United States and internationally.

ecobee

Series C in 2018
ecobee, Inc. is a Canadian company based in Toronto that specializes in manufacturing Wi-Fi enabled smart thermostats and light automation equipment for both residential and commercial use. Founded in 2007, ecobee offers a range of products, including the SmartThermostat with voice control, ecobee3 lite, SmartSensor, and ecobee Switch+, all designed to enhance energy efficiency and provide remote access to temperature settings through a mobile application. These devices enable users to monitor and manage their energy consumption effectively, contributing to energy conservation while maintaining comfort in homes and offices. ecobee's products are available for purchase online, making them accessible to a wide audience.

Rise Asset Development

Debt Financing in 2018
Rise works to empower business owners with access to financing and business support. They recognize the interdependency of financial well-being to one’s overall quality of life. Rise is committed to improving the lives of people who are unable to secure employment due to mental health or addictions challenges. They invest in entrepreneurs with mental health or addiction challenges.

Element AI

Series A in 2017
Element AI Inc. provides artificial intelligence solutions (AI) for organizations to identify opportunities to use artificial intelligence and machine learning and build AI solutions. It operates an AI as a Service (AIaaS) platform that enables businesses to launch and incubate AI solutions in partnership with large corporations. The company also operates a research and development laboratory that conducts research to deploy AI in computing infrastructure. It provides its products to insurance, banking and capital markets, manufacturing, logistics, retail, and consumer packaged goods industries. Element AI Inc. was founded in 2016 and is headquartered in Montreal, Canada with an additional office in Toronto, Canada.

Wherego

Debt Financing in 2017
Wherego is a travel management and planning platform tailored for Chinese tourists visiting Canada. With a significant increase in the number of Chinese travelers, the company recognizes the shift from traditional group travel to a preference for unique, personalized experiences. Wherego's mobile platform allows users to discover, plan, and purchase itineraries that suit their preferences. Utilizing AI technology, the platform provides tailored recommendations to enhance the travel experience. By focusing on the needs of modern Chinese travelers, Wherego aims to facilitate memorable journeys in Canada, catering to the growing interest in independent travel among this demographic.

InvestorCom

Venture Round in 2017
InvestorCOM is a leader in providing financial technology and outsourcing services to banks, asset managers, insurance companies and investment dealers. They have developed an innovative suite of FinTech solutions in response to increasing regulation and the demand for more effective communication and disclosure from the financial services industry.

Mosaic Manufacturing

Seed Round in 2016
Mosaic Manufacturing Ltd. is a Canadian company based in Toronto that specializes in hardware and software solutions for three-dimensional printing. Founded in 2014, the company focuses on innovating technology that combines multiple filaments into a single strand, which is then used in 3D printers. This approach enhances the capabilities of 3D printing by allowing for the use of diverse materials in a single print job.

Strongpoint

Debt Financing in 2016
Strongpoint provides companies with Netsuite and Salesforce to manage change in their systems, enabling them to drive growth with confidence and certainty.

Invixium

Series A in 2016
Invixium Inc. is a manufacturer of advanced biometric solutions headquartered in Markham, Canada, with additional research and development operations in Ahmedabad, India. Established in 2012, the company offers a range of products designed to enhance security and convenience in access control. Its offerings include Ixm Mycro, which personalizes environments for home users; Ixm Touch, which prevents time theft in businesses by capturing electronic time stamp entries; IXM Titan, a multipurpose edge computing device that recognizes faces; IXM Merge, an indoor fingerprint tracking device; and Ixm Sense, tailored for industrial environments such as construction sites and hospitals. Invixium's products are designed to replace traditional access methods like keys and passwords with modern, internet-ready biometric solutions, all while ensuring durability in harsh conditions.

SensorSuite

Seed Round in 2015
SensorSuite Inc. is a Toronto-based company that specializes in providing real-time building intelligence through wireless sensors for property managers across various sectors, including multi-residential, commercial, and industrial markets. The company offers a range of mobile applications, such as BoilerLink for monitoring and controlling boilers, FridgeLink for fridge monitoring and predictive maintenance, and a solution for monitoring hotel rooms. These applications utilize sensors that capture, process, and analyze data, delivering actionable insights to users via web or smartphone platforms. By enhancing operational efficiency and reducing risks, SensorSuite empowers property managers to optimize the performance of their assets and make informed decisions.

Think Dirty

Pre Seed Round in 2013
Think Dirty Inc. is a Toronto-based company that has developed a mobile application designed to help consumers identify potentially harmful ingredients in cosmetics and personal care products. Users can scan barcodes or search for products to access information about their ingredients, which is synthesized into a score based on data from government lists, peer-reviewed studies, and reports from health organizations. This functionality empowers users to make informed decisions regarding the health and environmental impacts of the products they use in their daily lives. By simplifying the process of reading product labels, Think Dirty aims to promote conscious consumerism in the beauty and personal care sectors.

Interface Biologics

Series B in 2011
Interface Biologics, Inc. (IBI) is a commercial stage company that develops transformative biomedical polymer technology to improve the safety and effectiveness of medical devices. Their patent-protected technologies include anti-thrombogenic additives for blood contacting medical devices and polymer enabled combination drug delivery devices. IBI has exclusive Endexo™ technology licensing agreements with AngioDynamics for vascular access catheters and with Fresenius Medical Care for chronic dialysis systems. AngioDynamics’ BioFlo PICCS, Ports and DuraMax Dialysis Catheter with IBI’s Endexo technology have received FDA clearance and are gaining commercial traction. IBI also has a joint venture commercial agreement with Qualimed to develop a drug-coated balloon based on IBI’s Kinesyx™ technology. The company was founded in 2001 and is headquartered in Toronto, Canada at the acclaimed MaRS Innovation Centre.

NATRIX Separations

Series B in 2008
Natrix Separations is a leading supplier of high performance, single use and multi-cycle disposable chromatography products to the life science, food, beverage and water markets. Natrix has developed a unique technology that combines the high binding capacity, selectivity and specificity normally associated with resin-based chromatography with the high throughput and ease of use of traditional membrane products.

The Bistro Group

Venture Round in 2003
The Bistro Group owns and operates hospitality casual dining restaurants and homegrown concepts. The company's restaurants include, baker & cook, Buffalo Wild Wings, Bulgogi Brothers, Denny's, Fish & Co., Italianni's, Krazy Garlik, Modern Shanghai, Moe's, Murray's, Plank, TGI Fridays, Texas Roadhouse, Tonkatsu, Village Tavern, and Watami. It offers rewards and privileges through its Bistro Card. The company is based in Makati City, the Philippines.
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