Week in Space Data, every Friday.
Investor portfolio, from our funding record
Government-owned investor. Canadian federal Crown corporation. This is the list our funding rule 3 uses: a round every one of whose leads is government-owned is state capital, not a private round.
Recorded in our rows as: BDC; BDC Capital; Business Development Bank of Canada (BDC).
Counted rounds
4
Led
1
3 as participant
Companies
3
Disclosed round value
$19.5M
3 of 4 rounds disclosed; whole rounds, not this investor's share
First deal
2016-08-09
Kepler Communications
Latest deal
2026-01-16
Canada Rocket Company
Business Development Bank of Canada appears on 4 counted private space funding rounds in our records, into 3 companies: recorded as lead on 1 and as a participant on 3.
The earliest is Kepler Communications on 9 August 2016; the latest is Canada Rocket Company on 16 January 2026.
3 of the 4 rounds disclosed a size, together $19.5M. That is the size of the rounds Business Development Bank of Canada took part in, not the amount Business Development Bank of Canada invested: we hold no per-investor allocations and do not estimate them.
The investor most often on the same counted rounds as Business Development Bank of Canada is Climate Investment, on 1 round.
1 other recorded transaction naming Business Development Bank of Canada is not counted in this portfolio; it is listed separately with the class that keeps it out (state capital: 1).
Private funding rounds into space companies that name Business Development Bank of Canada as lead or participant, newest first, each with its source. Round size is the whole round; a blank size was never disclosed and is not estimated.
| Date | Company | Stage | Role | Round size | Source |
|---|---|---|---|---|---|
| Canada Rocket Company | Seed | LeadAs recorded: Business Development Bank of Canada (BDC) | $4.5M | SpaceQ (opens the source for this round) | |
| GHGSatRecorded as Series C1 | Series C | ParticipantAs recorded: BDC Capital | Not disclosed | GHGSat (press release) (opens the source for this round) | |
| GHGSatRecorded as Series A2 | Series A | Participant | $10.0M | GHGSat (press release) (opens the source for this round) | |
| Kepler Communications | Seed | ParticipantAs recorded: BDC | $5.0M | SpaceNews (opens the source for this round) |
Rounds come from company announcements, regulatory filings and press reports. Amounts, valuations and investors are as reported and may be incomplete or later revised. Not investment advice, and not an offer or solicitation for any security. Full disclaimer
| Stage | Rounds |
|---|---|
| Seed | 2 |
| Series A | 1 |
| Series C | 1 |
| Sector | Rounds |
|---|---|
| Analytics | 2 |
| Launch | 1 |
| Satellite | 1 |
| Year | Rounds |
|---|---|
| 2026 | 1 |
| 2023 | 1 |
Investors named on the same counted rounds, by the number of rounds shared.
Showing the 10 most frequent of 16 co-investors. The full list is part of a SpaceNexus Research seat.
Other recorded transactions that name Business Development Bank of Canada. Each class below is kept out of every figure on this page by the same rule our quarterly funding editions use; they are listed so nothing is hidden.
| Date | Company | Class | Role | Round size | Source |
|---|---|---|---|---|---|
| GHGSatRecorded as Series B (first tranche) | State capital (government or state-owned funds) | Participant | $30.0M | GHGSat (press release) (opens the source for this round) |
| 2018 |
| 1 |
| 2016 | 1 |