Export Development Canada (EDC) publicly disclosed that through EDC Investments (formerly known as EDC Equity) it has invested between $390 million to $840 million in equity investments in Canadian companies and commitments to Canadian funds in 2023.
EDC did not disclose the exact amount of its investment in companies and funds, provided only a range of amount of investment in companies and funds.
EDC Investments invested between $235 million to $505 million in 46 Canadian companies and committed between $155 million to $335 million to Canadian venture capital (VC) and private equity (PE) funds.
Among the notables:
Companies:
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VC Funds:
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PE Funds:
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EDC participated in two major funding transactions in Miovision. First of which being a $260 million primary and secondary funding round led by TELUS with participation of Maverix Private Equity. The transaction included US $125 million or CDN $169 million primary capital to Miovision, US $25 million in secondary transaction to early investors, and CDN $52 million secondary bought out by TELUS of the stakes held by MacKinnon, Bennett & Co.
Miovision had never received $260 million as it was counted by some data providers. The inclusion of the whole amount thus artificially inflated and distorted the total Canadian investment amount.
EDC Investments is an evergreen investment program with more than $3 billion in capital to help Canadian businesses reach their potential.
At Export Development Canada (EDC), we invest in Canadian companies with strong international growth potential. We do this through direct equity investments, co-investments and investment fund commitments. Managed by a dedicated team, we invest independently or in partnership with institutional investors under standard industry terms, conditions and return expectations. Our investments range across an array of sectors, with an emphasis on cleantech and inclusive trade.