Business Development Bank of Canada made its first defence-linked investments, co-leading a $6.2-million seed round in Toronto-based Canada Rocket Company and joining a pre-seed round for Sherbrooke, Que.-based semiconductor startup Irréversible. The Crown corporation also partnered with Creative Destruction Lab on a program for dual-use technologies spanning defence, national security, and critical infrastructure.
In December, BDC unveiled a $4-billion platform, including $3.5 billion for financing and $500 million for investments. Executive vice-president Geneviève Bouthillier said the deals used BDC’s $100-million seed fund. The strategy supports sovereignty-focused national projects across Canada.
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