BDC Capital, the investment arm of the Business Development Bank of Canada (BDC), is investing $50m into women-led technology startups.
Of the funds, $40m will be used to create a new program for women-led tech companies. The program will include both venture and growth capital and will be open to new and existing BDC Capital clients as well as to graduates of partner accelerators.
Initial deployment will start by the end of 2016.
BDC Capital will allocate an additional $10m to support regional initiatives beginning with the MaRS Investment Accelerator Fund to form a new women’s pre-seed and seed fund and increase depth of network and resources for women founders.
With its anchor investment, BDC is seeking to raise additional capital from other interested investors.