BDC Venture Capital Invests in GrowLab Grads

BDC Venture Capital | BCBusiness

The Montreal-based venture capital firm has offered to invest $600,000 in the four startups from GrowLab’s Winter 2012 cohort

Vancouver’s burgeoning tech scene has one more piece of anecdotal evidence proving that incubators are helping startups go from the idea stage to financing.
BDC Venture Capital out of Montreal announced on Monday that it had offered $600,000 total in funding for all four of the latest grads from Vancouver-based startup accelerator GrowLabs, according to technology news blog TechVibes.
BDC offered the four startups from the Winter 2012 cohort $150,000 in seed funding and all four accepted the offer.
The investment shows BDC judged all the companies to be “venture-ready,” which in its own terms means each idea was solid and had substantial early traction.
The four companies, profiled briefly in our roundup of the GrowLab graduation, will use the seed funding while they expand and scale their startups and work toward a second round of financing.
Those investments dollars are essentially a loan, and BDC will likely receive shares in the companies once they mature.
Thus far, BDC has invested a total of $1.95 million in funding for GrowLab graduates since the incubator’s first cohort graduated back in 2011.