BC Tech Fund
Kensington is the Manager of the BC Tech Fund, a $100 million venture capital fund launched by the Government of British Columbia in 2016. The BC Tech Fund has been established to invest in emerging technology companies in BC across multiple sectors, including Information and Communications Technology (ICT), Digital Media, Clean Tech and Life Science/Healthcare. The BC Tech Fund mandate includes investments in BC-based venture capital funds and BC companies.
The BC Tech Fund is focused primarily on investments at the Series A stage. Generally, a company will be considered at the Series A stage when it has a completed product that is being sold to paying customers, generating annual revenues in the range of $1 million to $3 million, with capital required to accelerate rapid growth.
The BC Tech Fund has been established with the goal of realizing the best financial returns within the established Fund parameters, with all investment decisions to be made on commercial market-based terms consistent with a well developed investment strategy. All investment decisions relating to the BC Tech Fund portfolio will be made by Kensington as the Fund’s Manager, based on Kensington’s opinion of the most compelling investment opportunities available from among eligible candidates.
BC COMPANY CANDIDATES
The following guidelines have been established for the BC Tech Fund for all companies seeking to be considered as candidates for investment.
Location: (1) Headquarters in BC or a significant number of senior executives residing in BC, and
(2) A substantial portion of its operations or a significant number of its full-time employees are located in BC.
Stage: At the time of the BC Tech Fund’s initial investment, the company is at the Series A stage
Sector: The company’s business is in one of the target sectors listed above
Private: The company is not a reporting issuer and is not listed on any stock exchange.
BC VENTURE CAPITAL FUND CANDIDATES
The following guidelines have been established for the BC Tech Fund for all funds seeking to be considered as candidates for investment.
Location: Headquarters in BC, or if based elsewhere, must have a BC office with at least one partner and investment committee member residing in BC
Stage: Investment strategy primarily targeting companies at the Series A stage
Sector: Investments to be focused on one or more of the target sectors listed above
Size: First-time funds require a minimum size of $50 million; Established funds require a minimum of $100 million
Commitment: The recipient fund must agree to invest at least the amount received from BC Tech Fund into BC companies
For all BC Tech Fund inquiries, please email BCTechFund@kcpl.ca.
News
BC Tech Fund Invests in Vanedge Capital II Nov 1, 2016
B.C. launches $100M tech fund and announces first investment Oct 21, 2016
Kensington Capital Partners to Manage New $100M BC Tech Fund Oct 21, 2016
B.C. to name Toronto's Kensington to manage pool of publicly funded VC - The Globe and Mail Oct 21, 2016
Kensington to manage $100 mln BC Tech Fund, invests in Mojio - PE Hub Oct 21, 2016
Kensington Capital Partners to Manage $100m BC Tech Fund - BetaKit Oct 21, 2016
Kensington Capital Partners chosen to manage new $100 million BC Tech Fund - Cantech Letter Oct 21, 2016
BC Responds to Call for More Venture Capital in Tech Vertical - Canadian Venture Capital & Private Equity Association Oct 21, 2016