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New Brunswick Innovation Foundation, Frostbite Capital, Blue Bear Capital,18West and Blue Wing Ventures also participated in the Fredericton, N.B.-based startup’s raise. It’s BDC’s second investment from its StrongNorth Fund in two weeks, after backing Vancouver-based Photonic’s $275 million raise earlier this month. (The Logic)
Talking point: Lastwall makes cybersecurity software for defence and government agencies. The company recently registered to lobby the federal government, as it promises to aggressively ramp up spending and procurement on domestic defence capabilities. The BDC funding comes from the bank’s defence tech fund, a $300 million equity investment component of its $6-billion defence innovation platform launched in December. In a press release Wednesday, BDC said it’s seeing investments concentrate around digital technologies, such as cybersecurity and software—areas that typically require less time, money and research to commercialize than hardware-based defence tech.
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