It seems BDC is following through on the promise it made last June to invest $250 million for growth equity investing over the next five years.

BDC Capital announced today that it has completed over $57 million in minority equity investments in high-growth mid-sized Canadian businesses. One of those recent transactions include an investment in Altitude Sports, a Montreal-based web retailer specializing in urban and outdoor high-end clothing. No financial terms were disclosed, but the deal gave BDC a minority stake in the company.

Founded in 1984, Co-CEOs Maxime Dubois and Alexandre Guimond acquired Altitude in 2011 when they were employees. Dubois and Guimond began implementing e-commerce at the retailer in 2008, when the company only had two physical stores, one in Montreal and one in Mont-Tremblant. When the two took over ownership in 2011, the company’s online sales already exceeded those of its stores.

“Our participation is intended to support the growth of a Canadian company which is on its way to become the leader of its sector in Canada,” said Claude Miron, Vice President, Growth Equity, BDC Capital. The support of BDC Capital will help Altitude Sports execute its ambitious expansion plan over the next few years. “BDC has been providing funding to Altitude Sports since 2011. We have witnessed its rapid growth in recent years, which has exceeded our expectations.”

The company currently sells 98% of its selection of more than 340 brands online at Altitude-sports.com. Altitude Sports currently employs more than 130 people, up from 15 in 2011, and delivered nearly 300,000 parcels in 2017. BDC has funded Altitude since 2011.

Pick your style.https://t.co/LetJOPq3K6 pic.twitter.com/uTSnisSM3T

— Altitude-sports.com (@AltitudeSports_) January 23, 2018

“The arrival of BDC Capital as a shareholder of the company is a natural evolution,” said Maxime Dubois, co-CEO of Altitude Sports. “BDC was the first financial institution to support us when we took over Altitude Sports in 2011, and since then, BDC and its investment division, BDC Capital, have been able to follow us through each stage of our rapid growth by diversifying their financing solutions offering. BDC is a partner that is focused on the long term and this is reflected in our conversations and our relationship. We share the same vision regarding the future of Altitude Sports, which is to become the biggest online retailer of high-end technical clothing in Canada. ”

Other notable transactions that make up the $57 million include an investment in BID Group, a Prince George, BC integrated supplier to the wood processing industry that was acquired by Highland West Capital last year, and financing for Delco Automation, Intelcom Express, InvestorCOM, Prodomax Automation, and Rx Drug Mart.

“Our team has been very active, as noted by the pace at which we are committing funds while respecting our investment criteria,” said Claude Miron, Vice President, Growth Equity with BDC Capital. “These investments are BDC Capital’s answer to fulfill an important gap in the equity financing ecosystem for Canadian entrepreneurs and align perfectly with our vision of being the minority equity partner of choice for Canadian entrepreneurs looking for growth capital to become world-class players in their industry.”