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BDC Capital to provide matching funds for VC investments

BDC Capital is launching a program that will see it match investments by Canadian venture capital firms, The Logic has learned.

Two sources with direct knowledge of the program, which could be announced as early as Thursday, said it will provide startups with one-to-one matching funds, as the Crown corporation tries to keep capital flowing to growing companies to help them weather the COVID-19 pandemic. The sources said the matching program would apply to companies that can raise capital from a qualified venture capital fund, and that deals would be available to companies outside BDC’s existing portfolios.

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