Emerging and High Growth Companies

BDC Capital in connection with Cyclic Material’s $71-million Series B financing round

BDC Capital
Key Contact
Nathalie Beauregard

Partner, Emerging and High Growth Companies, Montréal

Team
Alain Fournier

Partner, Tax, Montréal

On September 25, 2024, Cyclic Materials announced it raising of $71 million of Series B financing. This all-equity, all-primary financing round was led by ArcTern Ventures and included BDC Capital’s Climate Tech Fund, Hitachi Ventures, Zero Infinity Partners, Climate Investment, Microsoft through its Climate Innovation Fund, Fifth Wall, BMW i Ventures, Energy Impact Partners and Planetary Technologies. Cyclic plans on utilizing the funding towards advancing its rare earth recycling infrastructure.

BDC Capital, the investment arm of BDC, is Canada’s largest venture capital investor.

Cyclic Materials operates as a supply chain for rare earth elements with a focus on environmentally responsible recycling.

Osler, Hoskin & Harcourt LLP advised BDC Capital with a team consisting of Nathalie Beauregard (Emerging and High Growth Companies) and Alain Fournier (Tax).

Value
$71 million
Date Announced
Sep 25, 2024
Lead Office
Montreal
Key Contact
Nathalie Beauregard

Partner, Emerging and High Growth Companies, Montréal

Team
Alain Fournier

Partner, Tax, Montréal