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Investor profile

BDC Capital

Corporate · Founded 1944 · Montreal, Canada

Subsidiary of the Business Development Bank of Canada, we also offer a full spectrum of specialized financing, including venture capital, equity as well as growth and business transition capital

329 portfolio companies Corporate · $8.5B invested · 495 investments · Investor rank #327 · Last investment 8/2026
Portfolio companies 329 ↑ 48% 5y
Decacorns 0
Thoroughbreds 11 ↑ 10% 5y
01 · Biggest holdings

BDC Capital’s biggest current holdings.

The most valuable companies BDC Capital still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names BDC Capital directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 HopperUnicorn · Travel · Canada $5.0B
  2. 2 ApplyBoardUnicorn · Education · Canada 3% $3.2B $96M
  3. 3 WaabiUnicorn · Transportation · Canada $3.0B
  4. 4 TruliooUnicorn · Security · Canada $1.8B
  5. 5 PaperUnicorn · Education · Canada $1.5B
  6. 6 AssentUnicorn · Enterprise Software · Canada $1.3B
  7. 7 SvanteUnicorn · Energy · Canada $1.0B
  8. 8 KohoFintech · Canada $975M
  9. 9 MejuriFashion · Canada $92M

Estimated value = BDC Capital’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. BDC Capital also appears inside investor groups in Cohere, Hopper, Svante, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →

02 · Exits

BDC Capital’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from BDC Capital’s transaction record.

$1.2B IPO · 2022
Now $7.2BEnterprise Software
$3.6B IPO · 2025
Entered Series B+Now $3.6BSemiconductors
$2.8B acquisition · 2020
Fintech
$2.2B IPO · 2021
Entered SeedNow $1.2BTravel
$324M IPO · 2017
Entered Series B+Now $1.4BHealth
$120M IPO · 2017
Entered Series ANow $1.3BHealth
$1.2B IPO · 2021
Entered Series B+Now $214MEnterprise Software
03 · Portfolio analysis

Where BDC Capital’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 329 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. Canada402
  2. USA25
  3. UK2
  4. Australia1
  5. Belgium1
  6. India1
  7. Japan1
  8. Spain1
By sectorCount
  1. Enterprise Software92
  2. Energy65
  3. Health65
  4. Fintech33
  5. Food32
  6. Marketing27
  7. Semiconductors20
  8. Real Estate19
  9. Security19
  10. Transportation18
  11. Education14
  12. Robotics12
By stage enteredCount
  1. Series A140
  2. Series B+94
  3. Seed85
By growth stageCount
  1. Early Growth189
  2. Breakout Stage177
  3. Late Growth58
  4. Mature11
04 · Portfolio market map

Inside BDC Capital’s portfolio.

The 60 highest-funded portfolio companies, of 329 tracked.

Sonder
Travel · Unicorn
$1.2B
Waabi
Transportation · Unicorn
$3.0B
Hopper
Travel · Unicorn
$5.0B
Svante
Energy · Unicorn
$1.0B
Xanadu
Semiconductors · Unicorn
$3.6B
General Fusion
Energy
$766M
EnergyX
Energy
$200M
Assent
Enterprise Software · Unicorn
$1.3B
Hydrostor
Energy
$185M
ApplyBoard
Education · Unicorn
$3.2B
Trulioo
Security · Unicorn
$1.8B
Verafin
Fintech · Unicorn
$2.8B
Koho
Fintech
$975M
D-Wave Quantum
Enterprise Software · Unicorn
$7.2B
Paper
Education · Unicorn
$1.5B
Miovision Technologies
Transportation
$953M
Eavor Technologies
Energy
$667M
Coveo
Enterprise Software
$214M
TouchBistro
Food
$476M
LeddarTech
Transportation
$348M
Element AI
Enterprise Software
$477M
Super.com
Travel · Unicorn
$1.2B
Sheertex
Fashion
$160M
Kepler Communications
Telecom
$368M
Zymeworks
Health · Unicorn
$1.4B
League
Health
$380M
GaN Systems
Energy
$830M
ecobee
Energy
$770M
Milestone Pharmaceuticals
Health
$27M
Monteris Medical
Health
$175M
Dominion Dynamics
Security
$400M
Talent
Jobs Recruitment
$480M
VendAsta
Enterprise Software
$438M
FLO
Energy
$299M
Elastic Path Software
Marketing
$300M
Repare Therapeutics
Health
$2.0M
Symend
Fintech
$160M
Float
Fintech
$402M
MineSense Technologies
Energy
$168M
GoBolt
Real Estate
$220M
Blue J Legal
Legal
$488M
Congruence Therapeutics
Health
$250M
SiGe Semiconductor
Semiconductors
$275M
BuildDirect
Real Estate
$107M
Introhive
Enterprise Software
$400M
Wattpad
Media
$600M
GHGSat
Energy
$150M
CELLFOR
Energy
$98M
Conquest Planning
Fintech
$323M
Clementia Pharmaceuticals
Health · Unicorn
$1.3B
AvidBots
Robotics
$280M
Wave
Fintech
$405M
Diablo Technologies
Semiconductors
$72M
RANOVUS
Semiconductors
$96M
CarbonCure Technologies
Real Estate
$320M
Borrowell
Fintech
$73M
Solink
Security
$240M
Summit Lithium Technologies
Energy
$250M
Terramera
Food
$14M
Dejero Labs
Telecom
05 · Portfolio founders

Where BDC Capital’s portfolio founders come from.

139 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. Canada113
  2. United States14
  3. China2
  4. United Kingdom2
  5. Anguilla1
  6. Puerto Rico1
UniversityCount
  1. University of Waterloo17
  2. The University of British Columbia13
  3. University of Toronto13
  4. McGill University10
  5. Queen's University8
  6. Concordia University7
  7. Massachusetts Institute of Technology4
  8. ETS University3
  9. Harvard Business School3
  10. Laval University3
Previous companyCount
  1. Nortel Networks6
  2. The University of British Columbia4
  3. Ballard Power Systems3
  4. National Research Council Canada3
  5. Uber3
  6. University of Waterloo3
  7. Alphabet | Google2
  8. Blue Yonder2
  9. Copernic2
  10. Deloitte2