Archive for December 3rd, 2007
$165MM MRI Fund: blessing or curse?
3 December 2007It has only been a few days since the Ontario government announced the first installment of their $165 million Ontario Venture Capital Fund, but the drums are already beating. The concept is pretty clear: Ontario kicks in $90 million, some key institutions add $75 million (RBC-20?, OMERS-20?, Manulife-15? and BDC-20?), a fund of fund [...]
BDC Fact #2
3 December 2007Between 2005 and 2007, the Business Development Bank of Canada (“BDC”) grew its loan book by more than 17%, even though the Canadian economy only grew about 5.3% in aggregate over the same period (according to OECD figures).
If the BDC isn’t adding undue leverage to its existing client base, and it isn’t taking market share [...]
BDC Fact #1
3 December 2007According to an Act of Parliament passed in 1995, the Business Development Bank of Canada (“BDC”) is to provide financing that is “Complementary to commercial financial institutions” whereby “the loans, investments and guarantees are to fill out or complete services available from commercial financial institutions.”
BDC does not, however, believe that competing with the private sector [...]