Access to capital from B.C. government supports growth in tech sector

Yaletown Partners joined the B.C. government and tech community yesterday in a celebration event for Bit Stew, one that highlighted that the #BCTECH Strategy to improve access to capital is paying off as B.C. Tech companies are taking advantage of the Province’s venture capital programs to reach new levels of growth.

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An investment partner in the #BCTECH Strategy, Yaletown invested BC Renaissance Capital Fund dollars into Bit Stew, making this one the largest success stories of the BCRCF fund so far. Yaletown also made an earlier investment into Bit Stew using the Small Business Venture Capital Tax Credit program.

Speakers at the event included Amrik Virk, Minister of Technology, Innovation; Citizens’ Services and Minister of International Trade Teresa Wat; Kevin Collins, CEO at Bit Stew Systems, from GE Digital; Michelle Scarborough from Kensington Capital Partners;
Salil Munjal, General Partner, Yaletown Partners; and Hans Knapp, General Partner, Yaletown Partners.

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“Attracting venture capital from a mix of local and strategic sources throughout the growth of Bit Stew enabled us to scale from a start-up into an industrial IoT leader,” said Kevin Collins, CEO at Bit Stew Systems, from GE Digital. “We are extremely pleased with the backing we received from our investors, GE Ventures, Yaletown Partners, BDC Capital, Kensington Capital and Cisco Investments.”

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Author: Yaletown