BDC launches $50M fund to drive business acquisitions by women entrepreneurs

The Business Development Bank of Canada (BDC) has announced the launch of the $50M Thrive ETA Fund, the first of its kind, designed to support more than 60 Canadian women in acquiring and operating Canadian companies. With over 142,000 entrepreneurs planning to close, transfer, or sell their businesses in the next five years—17.4% of all SMEs—this represents a unique opportunity to accelerate women’s business ownership.

To address the growing wave of business ownership transitions, BDC is expanding its efforts to foster a more diverse and balanced entrepreneurial landscape. Through its Growth and Transition Capital team, the Bank provides tailored financing solutions that enable entrepreneurs to acquire businesses without diluting ownership. BDC’s Community Banking team also recently launched an initiative with First Nations Bank of Canada to encourage business acquisitions by Indigenous communities and development agencies nationwide.

The Thrive ETA Fund will allocate:

• $10M in indirect investments, through Canadian PE funds that support women-led acquisitions, strengthening the broader ecosystem
• $40M in direct investments, dedicated to women entrepreneurs, whether through a SF, an MBO, or a self-funded search

An accelerator program will also be launched, offering training, capital access, deal sourcing, mentorship, guidance, and a peer community.

“The key to maximizing performance and impact is pairing outstanding women with high-quality, profitable mid-sized businesses while raising awareness of ETA as a powerful path to ownership. That’s exactly what we aim to do with the Thrive ETA Fund”, said Sévrine Labelle, Managing Director of the Thrive Lab for Women at BDC. “BDC wants to be a trailblazer in building the ETA and SF ecosystem, helping women seize the business acquisition opportunity and reshape the future of business ownership.”

The Thrive ETA Fund is expected to fill a critical gap in Canada’s ownership landscape, attract private capital from like-minded investors, and act as a catalyst for market transformation. With only 19% of Canadian SMEs currently owned by women, and fewer than 4% of VC-backed founders being women, the need for transformational change is clear.

Together with its initiative alongside First Nations Bank of Canada, the Thrive ETA Fund and future programs will support more entrepreneurs in seizing business transition opportunities, helping ensure that Canada’s businesses remain Canadian-owned.