Investment matching focused on providing fast and reliable capital to small and medium exporters

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OTTAWA, Feb. 08 2022 (GLOBE NEWSWIRE) — Export Development Canada (EDC) announces the expansion of its matching investment program from a temporary COVID-19 support solution to a permanent program, with expanded eligibility to support more than directly or indirectly exporting small and medium-sized enterprises. Behind this decision is EDC’s desire to have a greater impact on the international growth of a greater number of Canadian companies by partnering with private sector investors.

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“Providing capital to Canadian exporters in partnership with private sector investors in a fast and reliable way helps these companies accelerate their international growth plans and take advantage of emerging opportunities,” said Carl Burlock, Executive Vice President and Chief of business, EDC. “With its expanded eligibility, this capital will be accessible to a wider range of businesses at different stages of growth, including those facing unique and systemic barriers, such as women, Indigenous peoples and Black Canadians. »

Since its launch in April 2020, EDC’s Investment Matching Program has seen strong demand and received positive feedback from companies across the country. To date, the program has supported 82 companies that have received a total of $223 million in EDC investments. Of the total, 35% are focused on cleantech and 23% are led by management teams and founders who identify as members of equity-seeking groups.

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Through the Investment Matching Program, EDC works with venture capital and private equity investors to increase the capital available to Canadian businesses by matching private sector-led investments. With expedited approval in as little as 10 business days from receipt of all required materials, EDC can match investments of up to $5 million. To be eligible, companies must have a minimum annual revenue of $500,000 and have plans to increase their direct or indirect exports.

If you are a Canadian company and want to know how we can help you accelerate your business growth, visit edc.ca or email EDC at [email protected] or call 1-800-229-0575 , weekdays between 9 a.m. and 6 p.m. pm ET.

Customer testimonials

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“Working with EDC has allowed us to focus on our key business priorities and execute on our highly anticipated Microfactory global expansion plans. The responsiveness and expertise of their team is unmatched as they always strive to be better than the status quo. We look forward to continuing our partnership because of their consistent commitment to social impact and support in our vision to redefine the term waste as a resource. Thanks to the EDC team for being so accessible and collaborative.

  • Felix Böck, CEO and Founder of ChopValue, Vancouver, British Columbia

“As a female founder of a software company exploring the various financing programs available to me, efficiency is key. What really blew me away about EDC was how quickly the process The Investment Matching Program funding process was compared to all other fundraising processes I have been involved in. Knowing that EDC was investing in Plum gave confidence to other investors and increased the amount of capital we We have used the additional capital to help bridge a gap and prepare to replicate the success we have had in Canada in the United States in growing our corporate accounts there.

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  • Caitlin MacGregor, CEO of Plum.io IncWaterloo, Ontario

“EDC’s matched investment program is truly unique. The speed at which a decision is made and deals are closed is unprecedented and truly sets EDC apart from other co-investors and co-investment programs. The organization demonstrates considerable leadership by having the courage to trust its sponsees in a quick but cautious manner. Like McRock Capital, EDC recognizes the importance of supporting diverse general partners and entrepreneurs, not just because it’s the right thing to do, but because it’s been proven to drive performance. This focus on diversity, equity, and inclusion, coupled with a focus on companies in the cleantech industry, is not only getting noticed, but making a difference in the tech ecosystem.

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  • Whitney Rockley and Scott MacDonald, co-founders of McRock Capital, Toronto, Ontario

“Mysa was extremely fortunate to have been supported by EDC’s Investment Matching Program. As we progress through our Series A fundraising process, and later series B, EDC’s support by our side helped our round of investment materialize, allowing us to resume growing our business, even in the face of the uncertainty caused by the recent pandemic. EDC’s partners, both locally and nationally, were supportive, knowledgeable and eager to help in any way they could. We look forward to our journey to help more and more homeowners live more sustainably through our products and services and are thrilled to have EDC as a trusted partner.

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  • Joshua Green, CEO, Mysa, St. John’s, Newfoundland and Labrador

“Since the launch of the Investment Matching Program, the Fonds de solidarité FTQ and EDC have co-invested in 12 companies wishing to pursue their growth. Together, in the aerospace sector, we supported Abipa Canada’s strategic alliance with the European-based ARM Group. In the artificial intelligence market, the two organizations have invested in the innovative Laval-based Omnirobotic that brings automation to the factory. We look forward to working with EDC again, especially to help companies expand internationally or succeed in emerging areas such as clean technology.

  • Alain Denis, Senior Vice-President, Investments, Fonds de solidarité FTQ

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About EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses of all sizes succeed on the world stage. As global risk experts, we equip Canadian businesses with the tools they need – the business knowledge, financing solutions, equity, insurance and relationships – to grow their business with confidence. Underlying all of our support is a commitment to sustainable and responsible business.

For more information and to find out how we can help your business, call us at 1-888-434-8508 or visit www.edc.ca.

Media Contact

Media
Export Development Canada
1-888-222-4065
[email protected]

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