BDC Joins NATO Defence Tech Investor Network, Expanding Defence Sector Involvement
The Business Development Bank of Canada has joined NATO's Defence Innovation Accelerator for the North Atlantic (DIANA) investor network, expanding its involvement in the defence technology sector. This move aligns with BDC's pivot towards this area and provides insight into NATO's defensive priorities.
Peter Dawe, senior vice-president of defence strategy at BDC, said 'The conditions are right... We have the talent. We have the know-how amongst our entrepreneurs in Canada.' He emphasized that joining DIANA will enable BDC to identify investment opportunities and support Canadian small-to-medium-sized businesses.
BDC has increased its defence platform to $6-billion from $4-billion, providing financial support through venture capital, financing, and advisory services. The bank also allocated $500-million towards venture capital, growth equity, and private equity funds focused on defence and dual-use technologies.
This partnership marks the first time a Canadian investor has joined DIANA's Capital Network. BDC will have access to regular engagements with other investors in the group and briefings from various ministries of defence to inform its investments.