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One of Canada’s leading climate tech advocates retires • londonbusinessblog.com

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A prolific investor in climate technology companies in Canada is back with a second fund for “low-carbon technologies” – only this time the company plans to pump less money into the scene over a longer period of time.

The Business Development Bank of Canada (BDC) released a new $400 million climate tech fund on Wednesday, calling it a “renewed commitment” to help build “world-class Canadian cleantech companies.”

The BDC is state owned and established to promote economic development in Canada. His recent venture deals include joining Samsung in a round for VueReal, which makes small, energy-efficient displays. And earlier this year, BDC engaged with Toyota to finance e-zincbuilding zinc-air batteries that can help utilities store renewable energy for when the sun isn’t shining.

The BDC debuted its first climate fund in 2018, with $600 million invested locally over four years. The investment company plans to run its second, smaller fund for five years, even if climate change is accelerating.

Asked about the slump, fund manager Susan Rohac told londonbusinessblog.com that the company is “aligning its offerings to a more robust market with many more partners we can work with.”

According to Rohac, BDC’s first fund was as big as it was because it was created to “address the lack of venture capital” for climate and cleantech startups in Canada. Since then, “for every $1 that” [BDC] committed, $6 in additional private sector funding has been raised by our portfolio companies simultaneously with or after we invested,” Rohac said. In other words, the company claims its super-large first fund has “more of an appetite in the private sector.” created, which apparently the… BDC Cleantech Practice‘s slimmed down second act.

To date, BDC says it has funded 50 climate and cleantech companies through the fund, putting it in the same camp as other busy investors in the scene, including Active impact investments and Sustainable Development Technology Canada (which is also supported by the Canadian government).

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