Passion led us here.

01 About

BCF Ventures, a spin-off of BCF Business Law Firm, is a pioneer in the Canadian investment scene by being one of very first Super Angel Funds. Launched on June 1st, 2018, BCF Business Law’s partners pooled their resources to establish BCF Ventures. The fund benefits from the expertise, resources and insights of the law firm and invests jointly with other successful funds across North America and Europe. BCF Ventures invests at the seed and series A stage of technology-based startups, mostly in Canada, the United States and opportunistically in Israel, China, and Western Europe. BCF Ventures is also a designated organization authorized by the Government of Canada to invest and support potential startups under the Start-Up Visa Program.

02 Investment Criteria

We have a passion for supporting emerging technologies led by talented teams. We believe in the « fit ». In the interest of both parties, we are transparent on what we want and let you decide if there is a likely match. If our investment focus doesn’t blend with your business model or capital strategy, that means we are simply not meant for each other.

Disruptive Technologies

We are passionate about disruptive technologies and the business opportunities that these create. We are looking for innovation pioneers challenging the status quo in traditional sectors, or dramatically improving legacy processes. The companies we fund must have some type of key science or technological innovation leading to the establishment of intellectual property rights.

Sectors

We believe in the future of B2B Cloud & SaaS Intelligent Enterprise software leveraging a combination of either Artificial Intelligence, Big Data, Business Intelligence, Business Analytics and/or Security. While we invest across industries, we have a special attention for Healthcare & Education, Transportation, Logistics & Supply Chain, Aerospace, Regulatory technology (Finance, Legal) and Enterprise Productivity.

Location

We invest primarily in Canadian and US companies. We occasionally invest in companies based in Europe, China or Israel but those companies must meet an even higher bar.

Valuation

Traction, growth curve, and unit economics are the most important factors we use to determine specific valuations. While we make our investments in companies with valuations up to $10M, it needs to be justified with exceptional metrics and technology.

Check Size

Our typical first investment check is under $125k. We will always ask for pro-rata rights to potentially invest in future rounds at larger amounts.

Cash Burn

We have a very strong bias towards companies with low cash burns. We also prefer a funding round where our participation usually yields at least 18 months of runway.

Round Size

Almost all of our investments go into rounds totaling $1M-$5M. Participation in smaller rounds requires companies to have highly disruptive technologies with truly exceptional progress.

Team & Advisors

We usually require at least two full time founders, with one being technical. We have a strong bias towards startups having strong advisors with shares backing them.

03 Progression and traction

The startup capital efficiency trend means that almost all our portfolio companies already have at least modest revenues. Below are the rough minimum traction levels for different types of startups, corresponding to the lower end of our valuation range :

B2B w/low price point

In that case, our traction bar is also usually higher. We want initial evidence that you can acquire customers economically at scale. Usually, this requirement translates into at least 40-100 customers, most of which you acquired through a cost-effective, repeatable sales model.

B2B w/high price point

In that case, when the price point is high enough to support a sales force, our traction bar is lower. We like to see a proven price point, evidence of a strong customer value proposition, and at least a few customers that have gone through sales cycles with decent acquisition economics.

Large Enterprise

If you have an enterprise SaaS product with a price point in the thousands to tens of thousands of dollars per month, we'll be interested in exploring an investment when you have live pilot customers with promising usage data. Paid pilots make an even more compelling case.

B2C

We have the highest bar for B2C companies, and mainly invest opportunistically in exceptional companies. To be successful, you need to acquire paid or heavily engaged users cheaply at scale. Consumers can be unpredictable and there is much competition for their attention.

04 Executive team

Sergio A. Escobar

Sergio A. Escobar

CEO

This investment fund is led by Sergio A. Escobar, a recognized technology entrepreneur in the international community of startups, recipient of several awards recognizing his entrepreneurial and mentoring skills, who is also a business mentor for startup accelerators in the US, Canada, Europe and the Middle East. He has been actively developing a diversified investment portfolio of companies ranging from B2B Cloud & SaaS startups (leveraging Artificial Intelligence, Big Data, Analytics and Security) to B2C Consumer startups (leveraging Mobile Apps, IoT/Wearables and eCommerce) across the United States and Canada.

P. Mario Charpentier

P. Mario Charpentier

Chairman of the Board

Chairman of the Board of BCF Ventures, Mario Charpentier is one of the six founders of BCF Law Firm today numbering more than 270 professionals in Quebec. He is the Managing Partner and one of five members of the firm's Executive Committee. As well as being a member of several BCF strategic teams, he is notably co-leader of the Affairs and Technology strategic team. Mr. Charpentier represents several medium and large public and private companies whose head offices are in Quebec. His extensive experience, mainly in high-growth start-ups in the area of high-tech, has made him a sought-after professional in the field.

George Korkejian

Bonnie Chau

Portfolio Manager

Acting as a Portfolio Manager for BCF Ventures, Bonnie evaluates and performs due diligence on different startups for a potential investment by the fund and also provides support in the reporting of portfolio companies. With more than 5 years of experience at one of the fastest growing companies in Canada, she brings valuable experience to the fund supporting management. Bonnie holds a B.Comm. in Accountancy from Desautels Faculty of Management from McGill University and she also obtained her Chartered Professional Accountant (CPA, CMA) designation.

Salvatore Tedone

Salvatore Tedone

Investment Analyst

Acting as an Investment Analyst for BCF Ventures, Salvatore supports the team performing financial and legal due diligence of selected startups for a potential investment by the fund. With a unique mix of financial and legal background, he brings valuable experience to the fund supporting management on a daily basis. Salvatore holds a B.Comm. from the John Molson School of Business and LL.B. and J.D. degrees from Université de Montréal.

Diana Sciortino

Diana Sciortino

Investment Analyst

Acting as an Investment Analyst for BCF Ventures, Diana supports the team by acting as a filter in evaluating business opportunities with entrepreneurs as well as managing external communications. With a unique mix of accounting and banking background, she brings valuable experience to the fund supporting management on a daily basis. Diana holds a B.Comm. in Accountancy from Desautels Faculty of Management from McGill University and is in the process of completing her LL. B and J.D. degrees from McGill University.

05 Advisory Committee

MikeCegelski

Mike Cegelski

Managing Partner of Panache Ventures

Mitch Garber

Mitch Garber

Volunteer advisor

Chairman of Invest in Canada

NicolasBélanger

Nicolas Bélanger

Co-Founder & Managing Partner of W Investments

Anne-Marie Boucher

Founder & Lawyer at BCF Business Law

LouisCarbonneau

Louis Carbonneau

Founder & CEO of Tangible IP, LLC

Jocelyn Auger

Jocelyn Auger

Partner & Lawyer at BCF Business Law

06 Our portfolio

Athennian

Athennian

Legal entity management software allowing for document automation, digital signature, streamlined workflows and much more.

MedStack

MedStack

Privacy compliance and data interoperability solution accelerating adoption for healthcare apps into hospitals and clinics

OrbCare

OrbCare

Unified health Cloud platform that eliminates workflow inefficiencies for healthcare professionals in specialty clinics and hospitals

CareTeam Technologies

CareTeam Technologies

AI-enabled digital health platform allowing patient-centered care collaboration

Hykso FightCamp

Hykso FightCamp

AI-powered interactive at-home fitness/boxing subscription service

FleetOps

FleetOps

AI-enabled freight transportation and logistics marketplace

Alpin

Alpin

Enterprise Software-as-a-Service data monitoring and management platform

Bridgr

Bridgr

Data-driven project management marketplace for manufacturing companies to find Industry Experts 4.0 (AI, Robotics, Industrial IoT, Smart Factories)

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