BDC Capital’s IP-Backed Financing Fund (IPBF) today highlighted its commitment to helping Canadian IP-rich companies grow, announcing it has added eight companies to its portfolio and has committed more than 30M dollars since signing its first deal in February 2021. The $160M fund, with its initial investment of $2.6M in growth capital to Novarc Technologies, has, over the last year, gained significant momentum despite challenging times for the country and its entrepreneurs. This positive news comes on the heels of World Intellectual Property Day, which emphasizes the role intellectual property (IP) rights play in encouraging innovation and creativity.
“Since announcing our first deal and speaking with more than 500 companies, we have established this fund to be one of the most diverse and flexible solutions for IP-rich companies in the market,” says Lally Rementilla, Managing Partner, Intellectual Property-Backed Financing, at BDC Capital. “We are delighted to have invested in companies in five provinces, representing a variety of industries. We have had the pleasure of backing underrepresented entrepreneurs and founders and have shown flexibility in the financing by tailoring to each need.”
The only fund of its kind in Canada, the IPBF now supports a geographically diverse group of Canadian companies across many sectors, with a variety of leadership styles. With its focus on Canadian hardware-oriented companies with strong IP portfolios, the IPBF supports the resiliency and innovation of a community of businesses that have displayed creativity and the ability to pivot as they struggle with COVID-related challenges.
One such business was the fund’s first investment opportunity: Vancouver-based Novarc Technologies, a robotics company specializing in the design and commercialization of collaborative robots (cobots) for industrial applications. With their focus on AI and robotics, the company recognized the importance of protecting their IP early on.
“BDC’s IPBF program has been critically important to Novarc’s success and growth in the last 12 months,” says Soroush Karimzadeh, CEO of Novarc. “The IPBF team believed in Novarc’s vision and supported its progress during some of the toughest periods, namely the global pandemic and supply chain disruption era. We have been very fortunate to have BDC Capital’s IPBF teamwork with us as a true partner to see us through these difficult times.”
Over the last year, the IPBF has evaluated companies across all industries, both private and public. Since investing in Novarc, BDC Capital has added the following eight companies to its portfolio