The Business Development Bank of Canada co-led a $6.2-million seed round in Toronto-based space-tech firm Canada Rocket Company (CRC) and participated in a pre-seed investment in Sherbrooke, Que.-based semiconductor startup Irréversible. The Crown corporation also announced it’s partnering with Creative Destruction Lab on its new program to grow early-stage dual-use technologies for defence, national security and critical infrastructure. (The Logic)

Talking point: The investments are part of Ottawa’s push to spend five per cent of Canada’s GDP on defence by 2035. In December, the bank announced a $4-billion defence-spending platform, which includes $3.5 billion to finance and advise Canadian businesses involved in national projects focused on sovereignty and $500 million to invest directly into startups through two new BDC funds, and indirectly by backing other defence-focused funds. Executive vice-president Geneviève Bouthillier told The Globe and Mail that BDC made the CRC and Irréversible investments through its $100-million seed fund rather than its new defence funds, but framed the deals as part of its broader strategy for the sector.