BDC overhauls venture capital strategy with fund spinouts

BDC Capital’s move marks a new approach to supporting technology startups.

BDC Capital, the investment arm of Business Development Bank of Canada (BDC), has this week announced that two of its venture capitalists are to set up their own independent fund with backing from fund manager Fidelity Investments, the Globe and Mail has reported.

Peter Misek and Andrew Lugsdin, partners with BDC Capital’s Information Technology Venture Fund, are creating Framework Venture Partners. A similar spinout is planned for BDC Capital’s healthcare-sector fund later in 2018.

In future, the organisation will support businesses in the technology and healthcare sectors through a single fund.

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