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TORONTO – BDC today announced the launch of Thrive Venture Fund and Lab for Women, a $500-million investment platform that will support the growth and economic impact of Canadian women-led businesses.
The bank for Canadian entrepreneurs says Thrive builds on the success of its Women in Technology Venture Fund, launched in 2017, which has made 38 investments in women-led businesses to date.
BDC says Thrive will provide a “comprehensive approach” to addressing barriers faced by women entrepreneurs.
These challenges will be tackled through direct early-stage investments and strategic investments in women-led-and-focused funds.
BDC says the platform will be made up of a $300-million direct investment fund and $100 million in indirect investment to be deployed by BDC Capital’s fund investment team.
Thrive also includes a $100-million lab, an initiative designed to develop innovative equity investment models for women-led companies that may not necessarily be on a traditional path to securing venture capital funding.
This report by The Canadian Press was first published Sept.21, 2022.
