The second iteration of the fund, which invests in early-stage Canadian companies in legacy industries like agriculture, resource extraction and manufacturing, will expand its focus to include critical minerals. (The Logic)

Talking point: Canada and other G7 countries are working to beef up their critical minerals industries, which produce metals and rare earths needed to manufacture strategic products like semiconductors and EV batteries, in an effort to combat China’s dominance of the sector. Critical minerals are “increasingly recognized as vital to Canada’s economic sovereignty and national ambitions,” BDC said in a release. The Crown corporation, which is Canada’s biggest venture investor, launched its first $250-million Industrial Innovation Venture Fund in 2019. That fund backed more than 20 companies including industrial AI firm Acerta Analytics and mining software startup MineSense Technologies.