<\/p>\n
A prolific investor in climate-tech companies in Canada is back with a second fund for \u201clow-carbon technologies\u201d \u2014 only this time the firm plans to pump less money into the scene, over a longer period of time.<\/p>\n
The Business Development Bank of Canada (BDC) came out with a new, $400 million climate-tech fund on Wednesday, which it called a \u201crenewed commitment\u201d to help build \u201cworld-class Canadian cleantech\u201d companies.<\/p>\n
The BDC is owned by the state and was set up to drive economic development in Canada. Its recent venture deals include joining Samsung in a round for VueReal, which makes tiny, low-energy displays. And earlier this year, BDC chipped in with Toyota to fund e-Zinc, which builds zinc-air batteries that could help utilities store renewable energy for when the sun is not shining.<\/p>\n
The BDC debuted its first climate fund in 2018, with $600 million that it invested locally over four years. The investment corporation plans to make its second, smaller fund last five years, even as <\/span>climate change accelerates.<\/span><\/p>\n Asked about the pullback, fund managing partner Susan Rohac told that the firm is \u201csizing the offer to a more robust market with many more partners that we can work with.\u201d<\/p>\n According to Rohac, BDC\u2019s first fund was as large as it was because it was made to \u201caddress the lack of risk capital\u201d for climate and clean-tech startups in Canada. Since then, \u201cfor every $1 that [BDC] committed, $6 has been raised in additional funding from the private sector by our portfolio companies, concurrently or after we invested,\u201d Rohac said. In other words, the firm argues its supersized first fund created \u201cmore private sector appetite,\u201d which will apparently make up for the BDC Cleantech Practice\u2018s downsized second act.<\/p>\n To date, BDC says it has funded 50 climate- and clean-tech companies via the fund, which puts it in the same camp as other busy investors in the scene, including Active Impact Investments and Sustainable Development Technology Canada (which is also backed by the Canadian government).<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" A prolific investor in climate-tech companies in Canada is back with a second fund for \u201clow-carbon technologies\u201d \u2014 only this time the firm plans to pump less money into the scene, over a longer period of time. The Business Development Bank of Canada (BDC) came out with a new, $400 million climate-tech fund on Wednesday, […]<\/p>\n","protected":false},"author":1,"featured_media":1241326,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1241324","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1241324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1241324"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1241324\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1241324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1241324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1241324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}