BDC Capital, the investment arm of Canada's only bank devoted exclusively to entrepreneurs, has pledged C$250 million to an industrial innovation venture fund. The funds will be invested in tech companies and entrepreneurs transforming core Canadian business - including mining.
Capital will be invested in businesses at any stage of their life to help them drive marked improvements in productivity and competitiveness across value chains. The goal of the fund is to enable technology innovation and commercialization in key Canadian industrial sectors like ag-tech, advanced manufacturing, oil and gas, as well as mining tech.
BDC Capital named mining venture capital veteran Joe Regan as the Industrial Innovation Venture Fund's managing partner.
The bank is invested directly and indirectly in over 700 companies, with over C$3 billion under management.
(This article first appeared in the Canadian Mining Journal)