BDC Capital has committed an additional $3 million to the early-stage venture fund managed by Mistral Venture Partners, bringing its total commitment to $6 million.
BDC Capital initially committed $3 million in June 2014, and is the lead investor in Ottawa-based Mistral Venture Partners. “Mistral has done an outstanding job in their first three years identifying high-potential startups and supporting them,” said Dominique Bélanger, Managing Director of Fund Investments at BDC Capital. “Their connections in Canada and the U.S. and the mentorship the team provides have made a big difference to their portfolio companies. Supporting emerging Canadian VCs like Mistral Venture Partners with funding and advice is an integral part of BDC Capital’s strategy to develop the country’s venture ecosystem.”
Mistral said that it will to augment follow-on investments in its best companies. Mistral Venture Partners has invested in companies like OMSignal, Ritual, and Sensibill.