BDC targets rockets, semiconductors as first investments under new defence strategy
The Business Development Bank of Canada is beginning to fulfill its promise to help Canadian companies tap into Ottawa’s defence spending boom, starting with two investments into startups advancing rocket and semiconductor technology at home.
Sherbrooke-based Irréversible Inc. and Toronto-based Canada Rocket Company are the first beneficiaries of the bank’s fresh commitment to fund small- to medium-sized businesses working on technologies with both civilian and military applications. Tapping into its $100-million seed venture fund, the Crown corporation participated in Irréversible’s preseed round and co-led Canada Rocket Company’s seed round, in which the company raised $6.2-million.
Geneviève Bouthillier, executive…
