In March 2025, Canada Growth Fund (CGF) completed an investment of US$40 million in dcbel Inc., a Montréal-based smart home energy platform company.
The transaction was completed as part of a larger financing round totaling up to US$55 million. Along with CGF, Idealist Climate Impact Fund LP and other investors contributed up to an additional US$15 million. The funding aimed to support dcbel's commercialization of bidirectional EV charger technology in North America and Europe, while keeping its headquarters in Canada to protect Canadian intellectual property and create high-quality jobs.
Davies Ward Phillips & Vineberg LLP represented CGF with a team that included Brian Kujavsky, Rachel Park and Josh Sud (Venture Capital and Growth Companies).
Osler, Hoskin & Harcourt LLP acted as legal advisor to dcbel.