Tandem Expansion Fund

On December 8, Tandem Expansion, a private investment firm focused on growth capital for high-potential Canadian technology companies, announced the initial closing for $300 million of the Tandem Expansion Fund I. The Fund received investments from EDC, BDC and Teralys Capital, a private technology-focused fund of funds.  BDC contributed $80 million, while Teralys and EDC each committed $75 million to the fund. This investment will support strong Canadian companies who might otherwise miss growth opportunities because of a lack of funds. Promising Canadian technology companies have had to look to the United States for late-stage capital or have been faced with closing their doors. The net result has been a loss of intellectual property or lacklustre financial returns, and both EDC and BDC want to help bring those benefits home.