Fundraising Fox

BDC Capital Corporation

Venture debt

Wakefield · Late Stage

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Investment thesis

BDC Capital is a non-bank commercial lender serving businesses across New England. Because it is not regulated like a bank, it offers flexible underwriting tailored to each borrower's situation, with local decision-making by regional experts. Its products include asset-based revolving credit up to $10 million secured by receivables and inventory, equipment and real estate term loans, cash-flow-based term loans, and subordinated/mezzanine debt of $1 million to $7 million+ for acquisitions, buyouts, and expansion without diluting ownership. It also handles classified loans and workouts, offers loan guarantees, and administers specialized programs such as Massachusetts recycling loans and Rhode Island CAP and SSBCI programs, partnering with 100+ financial institutions.

Invests inSector AgnosticNorth AmericaUnited States

Source: firm website, verified Aug 3, 2026.

Stage
Late Stage
Check
$100K – $10M
HQ
Wakefield, US
Instruments
Debt
Last 12 months
4 investments
Tracked investments
45

What they invest in

from 43 of 45 portfolio companies

AI & Machine Learning ×20SaaS ×17Hardware ×13Cleantech ×11Enterprise Software ×10Climate Tech ×7Deep Tech ×7Energy ×6

HQs:Canada×23United States×3Indonesia×1Türkiye×1

Investments · 45 tracked

founders shown can be your intro path

By year:2026 · 42025 · 62024 · 42023 · 62022 · 22021 · 62016 · 129 dated

Cognitive 3Dcognitive3d.comin𝕏✓ verified

Cognitive3D provides an analytics platform for XR (VR/AR) applications, capturing user behavior, app activity, and device inputs to let teams replay and analyze sessions in full 3D.

AI & Machine LearningData & InfrastructureDeep TechGamingSaaSVancouver, CA

Tony Bevilacqua(Founder & CEO)inMatt Manuel(VP of Engineering)inCalder Archinuk(Head of Product)inNicola Anderson(Head of Data Science)in

Co-investorsAnorak VenturesHartmann CapitalKonvoy VenturesR/GA VenturesSpace CapitalSuper Ventures

Giatecscientificgiatecscientific.comin𝕏✓ verified

Giatec develops smart concrete testing technologies and IoT-enabled hardware systems for non-destructive testing and monitoring of concrete materials in infrastructure applications.

AI & Machine LearningConstruction TechDeep TechHardwareIoTOttawa, CA

Pouria Ghods(Co-founder)Aali R. Alizadeh(Co-founder)Pouria Ghods, PhD, P.Eng.(Co-Founder and CEO)Aali R. Alizadeh, PhD, P.Eng.(Co-Founder, President and CTO)

Co-investorsMistral Venture Partners

Login Radiusloginradius.comin𝕏✓ verified

LoginRadius provides a fully-managed customer identity and access management (CIAM) platform that handles authentication, social login, and identity management for enterprises, governments, and organizations.

CybersecurityEnterprise SoftwareSaaSVancouver, CA

Rakesh Soni(Founder)in

Co-investorsForgePoint CapitalEdmonton UnlimitedFounderFuelM12 (Microsoft's Venture Fund)Verdex CapitalYaletown Partners

Mangrove Lithiummangrovelithium.comin𝕏✓ verified

Mangrove Lithium is a cleantech company that develops a patented, feedstock-flexible electrochemical refining technology to convert diverse lithium feedstocks into battery-grade lithium hydroxide and carbonate.

CleantechEnergyNew MaterialsDelta, CA

Saad Dara(CEO & Co-Founder)inDavid St. Angelo(Chief Technology Officer)inAnnie Liu(Chief Commercial and Strategy Officer)in

Co-investorsBMW i VenturesBreakthrough Energy VenturesCanada Growth FundOrion Industrial VenturesInBC Investment Corp.

Micromartmicromart.comin𝕏May 2026✓ verified

Micromart advances retail technology, delivering solutions to improve customer experience in the retail sector.

HardwareRetail TechSaaS

Yang Yu(Chief Executive Officer)inAditya Bali(Chief Operating Officer)inArwid Bancevicius(Chief Technology Officer)in

Co-investorsDASH VenturesEniac VenturesGolden VenturesGood News Ventures

Peak Powerpeakpowerenergy.comin𝕏✓ verified

Peak Power enables energy service companies, solar developers, and energy brokers to offer battery storage solutions to customers through a fully financed energy-storage-as-a-service model.

AI & Machine LearningCleantechClimate TechEnergyOntario, CA

Derek Lim Soo(CEO)in

Co-investorsThe Atmospheric FundOsmingtonMaRS Investment Accelerator Fund (IAF)Waterpoint Lane

alterBiotaalterbiota.comMay 2024 · $4M

alterBiota develops green materials and energy technologies, including bio-graphene concrete admixtures and low-carbon concrete solutions, along with related R&D and testing services.

Circular EconomyCleantechClimate TechNew MaterialsEdwardsville, CA

Mark Masotti(CEO and Co-Founder)in

Co-investorsBDC Climate Tech Fund IIBDC Fund Investments (Fund-of-Funds)BDC Venture CapitalInvest Nova Scotia

AON3Daon3d.comin𝕏Sep 2021 · $11.5M

AON3D develops additive manufacturing hardware, software, and materials for industrial 3D printing applications.

Advanced ManufacturingAI & Machine LearningDeep TechHardwareRoboticsMontreal, CA

Kevin Han(Founder/CPO)inRandeep Singh(Founder)inAndrew Walker(Founder)in

Co-investorsAlleyCorpFlucas VenturesInnoStart CapitalIronGate Capital AdvisorsPanache VenturesPrototype Capital+7 more

Apera AIapera.aiJul 2025

Vancouver-based developer of 4D Vision software that combines 3D vision and AI to guide industrial robots.

Co-investorsFlying Fish VenturesLobby CapitalWUTIF CapitalJ-Ventures

Arolyticsarolytics.comin𝕏

Arolytics appears to work on emissions detection and monitoring, with a focus case study on methane emissions at oil and gas facilities.

AI & Machine LearningClimate TechEnergySaaS

Co-investorsAccelerate FundBDC Sustainability Venture FundCreative Destruction Lab (CDL)Startup TNTMetiquity VenturesYaletown Partners

Arteria AIarteria.aiOct 2023 · $30M

Arteria builds an AI-driven documentation automation platform for financial services institutions, covering client onboarding, transaction processing, and post-trade servicing.

AI & Machine LearningEnterprise SoftwareFintechSaaS

Shelby Austin(Co-Founder & Chief Executive Officer)inAbrar Huq(Co-Founder & Chief Client Officer)Jonathan Wong(Co-Founder & Chief Technology Officer)inAmir(Chief Science Officer)Summer Lang(Chief Operating Advisor)John Wallace(Chief Financial Officer)in

Co-investorsGolden VenturesNotable CapitalGGV CapitalIlluminate FinancialInformation Venture Partners

Avidbotsavidbots.comin𝕏Sep 2022 · $70M

Avidbots makes autonomous floor-cleaning robots and supports customers globally through a network of channel partners.

Advanced ManufacturingAI & Machine LearningCleantechHardwarePropTechRoboticsKitchener, CA

Faizan Sheikh(Founder)inPablo Molinain

Co-investorsGolden VenturesNext47GGV CapitalTrue Ventures500 GlobalBDC Growth Venture Fund+8 more

Ayrton Energyayrtonenergy.comin

Ayrton Energy develops a hydrogen storage and transport solution based on a proprietary liquid organic hydrogen carrier (LOHC) and electrochemistry, storing hydrogen as a liquid at ambient conditions so it can be moved using existing fuel infrastructure.

CleantechClimate TechEnergyCalgary, CA

Co-investorsBDC Climate Tech Fund IIClean Energy VenturesCreative Destruction Lab (CDL)ForesightThe 51 VenturesThin Air Labs+3 more

Blumindblumind.aiin𝕏Apr 2025 · $20M

Blumind is a Canadian deep-tech startup developing all-analog AI neural network architectures for energy-efficient edge AI computing.

AI & Machine LearningDeep TechHardwareSemiconductors

Niraj Mathur(Founder)in

Co-investorsACME CapitalBDC Sustainability Venture FundCreative Destruction Lab (CDL)FusionTwo Small Fish VenturesCycle Capital+1 more

Bonsai Microbonsai-micro.cominMay 2023

Bonsai Micro designs high-performance integrated circuits and develops optimization algorithms for edge AI and advanced communication systems.

AI & Machine LearningHardwareSemiconductors

Co-investorsVanedge CapitalVanedge Capital Limited Partnership

Carbon Upcyclingcarbonupcycling.comJul 2023 · $26M

Carbon Upcycling converts carbon emissions and industrial waste byproducts into valuable materials for low-carbon cement production.

Circular EconomyCleantechClimate TechNew Materials

Co-investorsAmplify CapitalClean Energy VentureClean Energy VenturesClimate Investment

Clearpath Roboticsclearpathrobotics.comin𝕏Jul 2016

Clearpath Robotics builds unmanned vehicles and robotics platforms aimed at making robotics research and development easier for its customers.

Deep TechHardwareRoboticsKitchener

Bryan Webb(Executive Officer, Director)inMatthew Rendall(Executive Officer, Director)

BoardMurray Gamble(Director)Karamdeep Nijjar(Director)inStuart Ellman(Director)inMichael Stork(Director)

Co-investorsGarage CapitalKeiretsu ForumKensington Capital Partners LimitedSWO Angel GroupVenture OntarioWaterloo Accelerator Centre+4 more

Cognotacognota.comin𝕏Sep 2023 · $5.5M

Cognota provides a platform for learning and development (L&D) and talent professionals to manage workforce development and transformation.

AI & Machine LearningEnterprise SoftwareHR TechSaaS

Ryan Austin(Founder)in

Co-investorsBlossom Street VenturesDifferential VenturesMaRS Investment Accelerator Fund (IAF)TIA VenturesGrotech VenturesIDEA Fund Partners

Femtumfemtum.cominMar 2026 · $16M

Femtum builds turn-key mid-infrared fiber laser systems that operate without requiring laser experts, serving industrial manufacturers and scientific teams for applications such as selective laser microprocessing and mid-IR spectroscopy.

Deep TechHardwareSemiconductorsQuébec City, CA

Simon Duval(CTO & Co-Founder)inLouis-Rafaël Robichaud(CEO & Co-Founder)inFrançois Courteau(CFO)in

Co-investorsBoreal Venturesi4 CapitalVIGO VenturesCathay VentureEurekaFonds de solidarité FTQ

FREDsense Technologiesfredsense.comin𝕏Jul 2021 · $2.5M

FREDsense builds biologically-based sensing technology that uses synthetic biology, electrochemistry, and electrical engineering to monitor water quality.

BiotechCleantechClimate TechHardware

Emily Hicks(Founder)inDavid Lloyd(CEO & Co-Founder)inMaggie Renaud-Young(Lead Scientist (Co-Founder))inMelanie McClare(Chief Commercial Officer)inSusan Sutherland(Head of Marketing)in

Co-investorsEmerald Technology Ventures AgForesightFundersClubHG VenturesInnovative Solutions Canada

GoBoltgobolt.comin𝕏Dec 2022 · $75M

GoBolt provides ecommerce fulfillment and last-mile delivery services, handling picking, packing, shipping, delivery, and returns for merchants, with a focus on sustainability and an electric vehicle fleet.

CleantechE-commerceLogistics & Supply ChainSaaS

Heindrik Bernabe(Co-founder)inMark Ang(Co-founder & CEO)in

Co-investorsFounderFuelIngka InvestmentsKensington Capital Partners LimitedPlaza VenturesWhitecap Venture PartnersBMO Capital Partners+4 more

Golden Venturesgolden.venturesin𝕏Feb 2024 · $100M

Golden Ventures is a venture capital firm whose team works with portfolio founders, accelerators, and the broader startup community to find, fund, and support early-stage companies.

Sector Agnostic

Matt Golden(Founder)in

Co-investorsFoundryKensington Capital Partners LimitedRBCxCendana CapitalDeloitte VenturesECMC Group+4 more

Haloohaloo.aiinJun 2024

Haloo builds technology for trademark and intellectual property protection, applying a tech-driven approach to legal services in the trademark industry.

AI & Machine LearningLegalTechSaaS

Julie MacDonell(Founder and CEO)in

Co-investors2 Punks CapitalRecall CapitalThe 51 VenturesWaterloo Accelerator CentreAngels of ManyBackbone Angels+2 more

HeyOrcaheyorca.comin

HeyOrca is a social media management platform for social media managers and small marketing teams to plan and collaborate on content, engage with communities, and report on performance in one place.

Marketing TechSaaSSocial

Joe(Chief Executive Orca (CEO), Founder)

Co-investorsKillick CapitalPelorus Venture Capital

Kinetics, a Karpowership initiativekarpowership.cominMay 2025 · $20M

Karpowership develops innovative energy solutions and technologies for global energy projects.

EnergyHardwareIstanbul, TR

Co-investorsClean Energy VenturesInvestissement QuebecMOL Switch

Maxamaxa.aiinMay 2024

Maxa is an agentic platform that uses AI agents to build and maintain production-grade dbt data pipelines for finance and operations teams, unifying enterprise systems like SAP, Oracle, Salesforce, and Workday into a single data model.

AI & Machine LearningData & InfrastructureEnterprise Software

Alexis C. Steinman(Founder)in

Co-investorsFramework Venture PartnersGraphite VenturesNAventuresAQC CapitalYork IE

Odaiaodaia.aiinMay 2023 · $34M

ODAIA offers Marketing Intelligence, a platform for pharmaceutical marketing and sales teams that ties channel-level actions to prescription (Rx) outcomes and coordinates healthcare provider (HCP) engagement across digital and field channels.

AI & Machine LearningDigital HealthHealthtechMarketing TechSaaSSales Tech

Philip Poulidis(Founder)in

Co-investorsGraphite VenturesMonograph Capital PartnersPanache VenturesStand Up VenturesThreshold VenturesToronto Innovation Acceleration Partners+5 more

Omy Laboratoiresomycosmetics.comin

OMY Cosmetics sells a personalized exfoliating toner essence formulated with adjustable concentrations of AHAs, BHAs, and PHAs tailored to individual skin profiles.

ConsumerDirect to ConsumerE-commerceWellness & Fitness

Co-investorsMAINAccelia CapitalCrédit Mutuel EquityFondaction

Paperpaper.coin𝕏Jun 2021 · $100M

Paper provides personalized academic support services to K-12 schools, including tutoring, 24/7 support, and after-school enrichment programs designed to build student confidence and academic skills.

EdTech

Philip Cutler(Founder & CEO)in

Co-investorsBirchmere VenturesBullpen CapitalFounderFuelFramework Venture PartnersIVP (Institutional Venture Partners)Sapphire Ventures+4 more

Paperpaper.design𝕏Jul 2021 · $100M

Paper is a design platform with a canvas built on web standards (HTML/CSS) that connects designers' visual work with codebases, AI agents, apps, and data via MCP, syncing design tokens, styles, and components between code and canvas.

AI & Machine LearningDeveloper ToolsSaaS

Stephen Haney(Founder)in

Co-investorsAccelICONIQDesigner FundBirchmere VenturesBullpen CapitalFramework Venture Partners+3 more

Paper Idpaper.idin𝕏Jun 2021 · $100M

Paper provides digital invoicing and payment solutions for small to medium-sized businesses in Indonesia.

Enterprise SoftwareFintechSaaSIndonesia, ID

Yosia Sugialam(Founder)in

Co-investorsGolden Gate VenturesIncubate FundSkystar CapitalSquare Peg CapitalBirchmere VenturesBullpen Capital+4 more

PathFactorypathfactory.comin𝕏Nov 2021

PathFactory is an AI-powered content experience platform that helps B2B companies deliver personalized buyer journeys and capture first-party engagement data to drive revenue.

AI & Machine LearningEnterprise SoftwareMarketing Tech

Nick Edouard(Founder)inDev Ganesanin

Co-investorsEdison PartnersKillick CapitalUpdata PartnersVertu Capital

Puzzle Medicalpuzzlemed.cominApr 2025 · $43M

Puzzle Medical develops a heart failure treatment device designed to improve heart and kidney function through 4Fr axillary access, allowing patient ambulation and providing up to seven days of support.

HardwareHealthtechMedical DevicesMontreal

Jade Doucet-Martineau(Co-founder & CEO, Board Director)inFrançois Trudeau(Co-founder & CTO, Board Director)inPhilippe Généreux(Co-founder (Phase 2), Chief Medical Officer & Board Observer)inMaxime Rochon(Co-founder (Phase 2) & VP Clinical, Regulatory and Quality)inYves-Antoine Crête(Co-founder (Phase 2) & VP Technical R&D and Operations)inGabriel Georges(Co-founder & Clinical Advisor)in

Co-investorsBroadview VenturesLumira VenturesAjax HealthDesjardins CapitalBoreal VenturesCathexis Ventures+1 more

Rockit Motorsrockitmotors.cominApr 2026

Rockit (formerly IEC Holden) is a contract manufacturer of electric motors and components for mission-critical industrial and rail applications, serving Fortune 500 OEMs and Tier 1 suppliers.

Advanced ManufacturingHardwareMobility & Transportation

Co-investorsMKB

Samplersampler.io

Sampler is a Canadian company offering a self-serve platform for distributing digital product samples to targeted consumers.

Media & EntertainmentToronto, CA

Marie Chevrier(CHIEF EXECUTIVE OFFICER, SECRETARY)

BoardAPRIL DUNFORD(Director)DENNIS GILLESPIE(Director)

Co-investors500 GlobalYork Angel Investors Inc.StandUp Ventures

SeamlessMDseamless.mdin𝕏

SeamlessMD provides a Digital Care Journey platform that guides patients through care plans via automated workflows, reminders, education, and progress tracking across surgery, oncology, chronic care, maternity, and behavioral health.

AI & Machine LearningDigital HealthHealthtechSaaS

Joshua Liu, MD(Founder)inJoshua Liu(Co-founder & CEO)inWillie Kwok(Co-founder & Chief Technology Officer)

Co-investorsFundersClubHikma VenturesAnges Québec

SketchDecksketchdeck.comin𝕏Apr 2026Acquired

SketchDeck provides embedded teams of creative, marketing, and digital talent that integrate into client organizations to handle marketing operations and creative work.

Enterprise SoftwareFuture of WorkMarketing TechSaaSSan Francisco, US

Chris Finneral(Founder/CEO)inDavid Mack(Founder/CTO)in

Co-investorsBlue CollectiveY CombinatorBKR CapitalBoreal VenturesFoundation CapitalMatrix+1 more

Solfiumsolfium.comin

Solfium provides solar energy, energy storage, and electric mobility solutions for residential, business, industrial, and corporate customers.

CleantechClimate TechEnergy

Co-investorsAccionAlive VenturesKamay VenturesRaliCapRedwood VenturesSavia Ventures

Tealbooktealbook.cominacquired by Supplier.io

Supplier.io (Tealbook) provides a supplier diversity and intelligence platform that helps procurement teams discover, vet, and source from new, local, small, and diverse suppliers using a database of over 20 million suppliers.

Data & InfrastructureEnterprise SoftwareSaaS

Stephany Lapierre(Founder)in

Co-investorsGood FriendsGrand VenturesReciprocal VenturesRTP GlobalStand Up VenturesRefinery Venture+1 more

Veerum Incveerum.comin𝕏May 2025

VEERUM provides a web-based platform for 2D and 3D industrial data management, visualization, and digital asset management that enables remote operations and reduces on-site travel for large industrial companies.

Construction TechData & InfrastructureEnterprise SoftwareIoTSaaSVancouver, CA

David Lod(Chief Executive Officer)in

Co-investorsBlackhorn VenturesBrick Mortar VenturesCreative VenturesInterGen CapitalEvok InnovationsVeriten

Vive Crop Protectionvivecrop.comin𝕏

Vive Crop Protection develops fungicides, insecticides, and nematicides—branded as Precision Chemistry™ solutions—designed for crop protection and disease management in field agriculture.

AgTechAI & Machine LearningCleantechNew MaterialsToronto, CA

Dr. Darren Anderson(CEO & Co-Founder)Dr. Jordan Dinglasan(VP Research & IP, Co-Founder)

Co-investorsEmmertechiSelect FundPlaza VenturesExport Development Canada (EDC)FCC Capital

Vivid Machinesvivid-machines.comin𝕏Apr 2023 · $4.3M

Vivid Machines provides real-time crop intelligence and vision-based technology for fruit producers, offering insights on crop load management, yield forecasting, plant health, and disease detection.

AgTechAI & Machine LearningHardwareToronto, CA

Jonathan Binas(Co-founder)inJenny Lemieux(Co-founder)in

Co-investorsEntrepreneur FirstMaRS Investment Accelerator Fund (IAF)Spatial CapitalStand Up VenturesTall Grass VenturesBoxOne Ventures+2 more

WellnessLivingwellnessliving.comin𝕏

WellnessLiving provides an online booking system for fitness businesses and wellness service providers, enabling clients to schedule appointments, classes, and events while helping businesses fill capacity and manage customer engagement.

Enterprise SoftwareHR TechSaaSSports TechWellness & Fitness

Len Fridman(Founder)in

Co-investorsINcapital VenturesMcCarthy Capital

Xabaxaba.aiinApr 2025 · $6M

Xaba develops xCognition Cognitive Control, a generative AI platform that lets industrial robots, CNCs, and PLC-based systems self-program and adjust control logic without manual coding.

Advanced ManufacturingAI & Machine LearningRoboticsToronto, CA

Co-investorsHazelview VenturesHitachi VenturesImpact Venture Capital

Xatomsxatoms.com

Xatoms develops photocatalytic materials for industrial wastewater treatment using an AI-assisted material discovery platform.

AI & Machine LearningCleantechDeep Tech

Kerem Topal Ismail Oglou(Cofounder)Diana Virgovicova(Cofounder)inShirley (Yue Ming) Zhong(Cofounder)

Co-investorsFront Row VenturesGenesis VenturesWaterloo Accelerator CentreBoxOne VenturesLeague of InnovatorsLOI Venture

Exits · 1

IPOs and acquisitions across the tracked portfolio

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Portfolio news

latest coverage across their companies

Frequently asked questions

What stage does BDC Capital Corporation invest at?
BDC Capital Corporation invests at the Late Stage stage.
What is BDC Capital Corporation's typical check size?
BDC Capital Corporation typically writes checks of $100K – $10M.
What sectors does BDC Capital Corporation focus on?
BDC Capital Corporation focuses on Sector Agnostic.
Where is BDC Capital Corporation located?
BDC Capital Corporation is headquartered in Wakefield, US.

Images

BDC Capital Corporation photo

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