Canadian VC firm BDC Capital launched a $150M Sustainability Venture Fund to help the nation accelerate its transition to a net-zero economy.
BDC will invest in SaaS, hardware-enabled software, and software startups that are working on sustainable cities, responsible production, climate action, and clean energy.
- The firm intends to back Series A and B-stage startups across Canada.
- BDC's new fund will work in conjunction with the firm's existing $400M Climate Tech Fund II.
- BDC Capital is the venture investing division of the Business Development Bank of Canada.
- The parent group has committed $1.8B in sustainability initiatives, which includes $1B for its cleantech and climate tech funds.
- BDC Capital has over $6B worth of assets under management (AUM).
- BDC estimates that Canadian firms will need between $60B and $140B of investments every year to reach their net-zero targets by 2050.
