Startups say BDC terms for COVID-19 relief funding too prohibitive

    Business Development Bank of Canada

    Entrepreneurs raising money during the pandemic say BDC Capital has not delivered on its promise to offer quick access to capital on friendly terms to help companies affected by the pandemic close funding rounds. 

    The Logic spoke with eight Canadian entrepreneurs who raised money since the Business Development Bank of Canada’s venture capital arm launched its fund-matching program on April 9. Two of them closed deals with BDC, while the other six explored partnering with the Crown corporation, but were either rejected or walked away from deals because of what they described as prohibitive terms. 

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