BDC has launched a new $200 million fund to support early-stage Canadian companies developing transformative technologies for traditional industries. The Industrial Innovation Venture Fund II (I2VF II) will focus on sectors such as manufacturing, mining, agriculture, and critical minerals. Jérôme Nycz, Executive Vice President of BDC Capital, stated that Canada’s productivity gap is particularly significant in these industries.
The fund aims to support entrepreneurs building practical and scalable technologies that are in high demand across these sectors. The first Industrial Innovation Venture Fund, launched in 2019, invested in more than 20 early-stage companies and helped close a funding gap for Canadian industrial innovators.
Supporting transformative Canadian tech
Portfolio companies demonstrated strong impacts, with Acerta Analytics reporting a double-digit reduction in scrap rates at a manufacturing facility and MineSense Technologies announcing an 18.1% increase in ore production at a British Columbia mine after deploying its X-ray fluorescence system. I2VF II will prioritize technologies such as robotics, automation, applied artificial intelligence, and industrial software solutions. The fund will also expand its focus to include critical minerals, which are increasingly tied to Canada’s economic sovereignty.
Nycz emphasized that these technologies are crucial in helping industrial enterprises improve efficiency, reduce waste, and remain competitive in the global market. With this new fund, BDC aims to strengthen Canada’s position in the competitive global industrial landscape by fostering innovation and supporting technological advancements in key sectors. As Canada faces ongoing productivity challenges, BDC’s commitment to investing in transformative technologies seeks to bolster the country’s economic resilience and international competitiveness.
