BDC Capital Inc. invests in CTI Life Sciences III in respect of the Venture Capital Catalyst Initiative (VCCI)
June 29, 2023
BDC Capital Inc. ("BDC") invested as limited partner in CTI Life Sciences III in respect of the Government of Canada's Venture Capital Catalyst Initiative (‘‘VCCI’’).
BDC is the investment arm of the Business Development Bank of Canada, a Crown corporation. CTI Life Sciences III is a knowledge-driven boutique venture capital firm that targets to invest in the information technology, healthcare, healthtech and life science sectors within Canada, the United States and Europe. The Government of Canada is committed to creating a vibrant and sustainable venture capital industry in the Canadian life sciences sector through VCCI by investing $50 million in six venture capital funds focused on the Life Sciences sector. These investments ensure that more capital will be made available to businesses in the life sciences sector so they can continue transforming new ideas into market-ready products and services, unlock economic opportunities for Canadians and create high-quality middle-class jobs.
McCarthy Tétrault advised BDC with a team led by Mathieu Laflamme that included Alexandre Saulnier-Marceau, Ahmed Kisserli, Kim Godbout (Private Equity), Christian Meighen and Julien Leblanc (Tax).