BDC

The Business Development Bank of Canada (BDC) has shuttered its intellectual property financing program and slashed staff in its deep-tech fund amid a worsening capital crunch. The bank, which reported $220 million in venture losses in 2024, is struggling to recoup investments as early-stage firms delay returns.

BDC’s deep-tech fund, once Canada’s largest, will no longer seek new deals. Remaining capital will support its 12 current portfolio firms. Meanwhile, BDC is redirecting $1 billion toward lower-risk, later-stage investments. The restructuring reflects broader early-stage funding challenges, as investors shift focus away from high-risk innovation.

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BDC has launched its Data to AI Program, designed to help Canada’s small and medium-sized businesses (SMEs) integrate artificial intelligence (AI) into their operations. The program provides guidance, tools, and financing to enhance productivity, streamline processes, and boost cybersecurity.

A recent BDC study revealed only 39% of SMEs recognize their AI usage, though 66% unknowingly rely on AI-integrated tools. Success stories like Vortex Aquatic Structures show how AI-readiness roadmaps can drive growth and efficiency. “Every small business deserves the opportunity to benefit from AI,” said BDC COO Véronique Dorval. The program aims to empower SMEs in the evolving digital landscape.

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BDC launches the $100M Thrive Lab, pledging equity, training, and support for 100 women-led businesses addressing social challenges.

In its first phase, BDC and 25 partners invest up to $35M in early-stage ventures, targeting the most challenging fundraising stages.

Selected partners, including accelerators and angels, were chosen for their expertise in supporting women entrepreneurs and commitment to social impact. A united front is formed to empower women where they are, especially in underserved communities.

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The Business Development Bank of Canada (BDC) is doubling down on Canada’s startup ecosystem with a $50 million boost to its Seed Venture Fund. This investment is designed to fuel the growth of early-stage software companies, especially those leveraging AI in sectors like Enterprise SaaS, Digital Health, and Fintech.

BDC’s extended mission also includes anchoring seed-stage businesses and expanding support in underserved regions. Isabelle Hudon, BDC’s CEO, stressed the importance of nurturing startups nationwide.

Additionally, BDC recently announced Thrive Lab, demonstrating its commitment to investing in social impact-driven women-led businesses at the earliest development stages.

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