BDC Capital, the investment arm of BDC, has launched a new $135m venture capital fund to support Canadian energy and cleantech startup businesses with global potential.
A follow-on to BDC Capital’s ICE Venture Fund I, which was launched in 2011, BDC Capital Industrial, Clean and Energy Technology (ICE) Venture Fund II will invest in 15 to 20 new high-impact Canadian startups that demonstrate efficiency and strong scalability.
Fund II will invest in late seed and Series A companies, with some Series B companies also considered.
BDC Capital’s first ICE fund invested in 18 firms, including quantum computing developer D-Wave Systems, IoT software provider Bit Stew, data center power management provider RANOVUS, CO2 utilization company CarbonCure, and power conversion innovator GaN Systems.
The ICE team now have $287 million under management.