BDC Invests in Quantum and Cybersecurity Firms to Bolster Canada’s Defence Capabilities
Event summary
- BDC announced investments in Photonic Inc. and Lastwall through its StrongNorth Fund, targeting quantum and cybersecurity technologies.
- The investments are part of BDC’s Defence Platform, launched in December 2025, aiming to strengthen Canada’s defence and economic sovereignty.
- BDC partnered with UBC Sauder School of Business’ Scale Up Program to help Canadian companies scale into defence and dual-use markets.
- Photonic Inc. develops scalable quantum computers and networks, while Lastwall focuses on secure identity management and cybersecurity.
The big picture
BDC’s investments in quantum and cybersecurity firms reflect a broader trend of digital transformation in defence, with a focus on technologies that are ready for immediate deployment. The partnership with UBC Sauder School of Business underscores the strategic importance of scaling Canadian companies into defence markets, addressing both economic sovereignty and national security concerns. The concentration of capital in digital domains like cybersecurity and software-driven systems highlights where defence demand is most actionable, while emerging investments in areas like space and specialized manufacturing signal a broader build-out of Canada’s defence capabilities.
What we're watching
- Defence Market Penetration
- How quickly Photonic Inc. and Lastwall can integrate their technologies into existing defence supply chains and secure contracts.
- Technological Readiness
- Whether the companies’ technologies, already validated in operational or commercial environments, can meet the immediate needs of defence markets.
- Supply Chain Integration
- The pace at which BDC can connect new entrants into established defence supply chains and strengthen existing suppliers.
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