The Royal Bank of Canada is merging its tech banking and innovation division, RBCx, with its technology investment group, RBC Ventures.
Under the RBCx brand, the newly formed entity will aim to support Canada’s tech firms and entrepreneurs across four key areas:
- Banking Services: Providing products and services tailored to help technology businesses scale effectively.
- Capital: Investing in and managing funds for venture capitalists and companies, with a focus on technology, life sciences, and climate sectors.
- Platform: Offering support in marketing, operations, design, and technology expertise to help portfolio companies and banking clients grow.
- Ventures: Curating a portfolio of technology businesses that focus on enhancing RBC’s capabilities.
Sid Paquette, head of RBCx, stated, "We aren’t just offering banking products to the tech industry. We are connecting founders with other founders, providing access to financing through our fund finance group, investing in and scaling our internal Ventures innovation portfolio, supporting companies on their growth journey with our platform group, and helping tomorrow’s change makers scale globally."