British Columbia Discovery Fund (VCC) Inc. (the “Fund”) was formed in 2002 as a vehicle to invest in eligible small businesses as part of the venture capital program started by the government of British Columbia. The Fund has held portfolio companies in a variety of sectors including mobile, information and clean technologies.
On June 24, 2020, the shareholders approved the wind-up and voluntary liquidation of the Fund pursuant to the Business Corporations Act of British Columbia including appointment of The Bowra Group Inc. as liquidator subject to certain regulatory approvals and conditions precedent.
Effective December 1, 2020, the Fund confirmed regulatory approval had been obtained and handed control of the Fund to The Bowra Group Inc., as liquidator (the “Liquidator”). The Fund also formally changed its name to British Columbia Discovery Fund Inc. (“BCDF”).
The Liquidator assumed control of BCDF to conduct the voluntary liquidation, which will involve the settlement of BCDF’s obligations, disposition of its remaining assets, and making final distributions to shareholders. The Liquidator will dispose of BCDF’s portfolio assets when liquidity events or secondary trading opportunities arise pursuant to the terms of the information circular or other directions from the Court.
Copies of the press releases and the information circular are available under the sections Files – Press Releases, and Files – Documents on this webpage.
The Bowra Group Inc., in its capacity as Liquidator of BCDF, provided its sixth quarterly update on the status of the liquidation on June 30, 2022. A copy of the June 30, 2022 quarterly update can be found below.