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Today: November 7, 2024

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TLDR:

BDC reports $220 million loss in venture capital portfolio in annual report.
VC division authorized $403.6 million in investments in fiscal 2024.

The Business Development Bank of Canada (BDC) reported a significant loss in value for its venture capital portfolio in its latest annual report. The VC division authorized $403.6 million in investments during fiscal 2024, which is a decrease from the previous year. BDC anticipates challenging market dynamics for venture capital to persist in fiscal 2025. The value of its VC portfolio decreased by $220 million over the year, and the adjusted return on equity was lower than planned. BDC’s performance aligns with the broader trend of declining venture funding activity in Canada’s tech sector. Overall, BDC expects challenging market dynamics for venture capital to continue in fiscal 2025.

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Adrian Johnson

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