Date Closed

August 16, 2023

Lead Office

Québec City

On August 16, BDC Capital Inc. invested as limited partner in Pender Technology Inflection Fund II Limited Partnership (the ‘‘PTIF II’’) in respect of the Venture Capital Catalyst Initiative (‘‘VCCI’’).

Building on the success of Pender Ventures’ first fund, PTIF II will continue to invest in B2B software and health tech companies at the inflection point between commercialization and scale. The Fund’s largest area of focus will be health tech – specifically, B2B software companies that improve healthcare delivery, also known as health IT. Another key area of focus for PTIF II will be vertical SaaS. Pender Ventures will seek out companies that address a well-defined problem and customer set, operate in markets that are less competitive and have clear paths to profitability and exit.

The Government of Canada is committed to creating a vibrant and sustainable venture capital industry in the Canadian life sciences sector through VCCI by investing $50 million in six venture capital funds focused on the Life Sciences sector. These investments ensure that more capital will be made available to businesses in the life sciences sector so they can continue transforming new ideas into market-ready products and services, unlock economic opportunities for Canadians and create high-quality middle-class jobs.

McCarthy Tétrault advised the Business Development Bank of Canada with a team led by Mathieu Laflamme that included Alexandre Saulnier-Marceau, Javeria Qureshi (Business), Christian Meighen, Julien Leblanc, and Étienne C. Laplante (Tax).