|Date Announced:||September 30, 2019|
|Date Closed:||August 09, 2019|
|Client Name:||Business Development Bank of Canada|
Renewal4 is a venture fund based in Vancouver, British Columbia that invests in environmental technology and sustainable consumer products. Renewal4 has closed on commitments of $145 million, with BDC committing $13 million on its own behalf and $20 million in respect of the VCCI funding for an aggregate commitment of $33 million.
Bennett Jones assisted BDC with all aspects of its commitment to the Renewal4, including conducting a comprehensive review of limited partnership agreement and other fund documents; negotiating side letter terms, including drafting bespoke side letter provisions in respect of the specific requirements of the VCCI funding; providing tax advice in respect of the investment and assisting with closing matters.