Export et développement Canada (EDC)

Their thesis, in full

Export Development Canada (EDC) is a federal Crown corporation and Canada's official export credit agency, not a startup venture fund, and founders should engage it on that basis. Its core business is trade finance, export credit insurance, bonding and working-capital guarantees for Canadian companies selling abroad. Through its equity arm, EDC Investments, it also deploys growth equity from a long-term program with over $4 billion in capital, as a later-stage, minority (up to 25%) investor and, very substantially, as a limited partner in 100+ Canadian VC and PE funds that in turn back startups. For founders the realistic paths are three: secure export financing or insurance to scale internationally; have an institutional VC or PE lead investor bring EDC into your round as a co-investor, on standard market terms and with cheques of $5 million to $25+ million; or raise from one of the many Canadian funds EDC backs as an LP. EDC typically invests where annual revenue runs between $10 million and $1 billion and explicitly does not invest at the seed stage or in companies not yet generating sustained commercial revenue, so a cold seed pitch is the wrong door. Lead with international growth ambition and let your lead investor open the EDC conversation.

Questions they usually ask

Have an answer ready for each one before the first call.

1. Do you have sustained commercial revenue, ideally between $10 million and $1 billion a year, plus an active international expansion plan, or are you still pre-revenue or seed stage?
2. Do you have an institutional VC or PE lead investor who can bring EDC into the round as a co-investor on standard market terms?
3. Are you seeking trade finance or insurance to scale exports, equity of $5 million to $25+ million alongside your lead, or an introduction to a Canadian fund EDC backs as an LP?

Follow-on

EDC supports founders primarily as a financing, insurance and equity partner aligned with management and existing shareholders, taking minority positions up to 25% and not seeking control. For equity it can lead a round outright or co-invest alongside other institutional investors, on terms that reflect standard market terms and conditions, with potential follow-on funding across your company's life cycle, pairing capital with export expertise, trade-finance tools and international buyer connections.

Who to talk to

• Alison NankivellPresident and Chief Executive OfficerLinkedIn ↗
• Guillermo FreireSenior Vice-President, Mid-Market GroupLinkedIn ↗