BDC Capital announced Wednesday it will add $20 million to its Women in Technology investment program, which aims to support women heading tech companies. This investment builds on a previous commitment to invest $50 million, making the total $70 million to be invested over five years.

The federal Crown corporation will invest in early-stage Canadian tech companies led by women and will support these companies with a full spectrum of financing, advisory services and capital solutions.

“We believe it is our combination of smart capital, entrepreneurial thinking, strong relationships, and a long-term approach that will help women tech entrepreneurs build and scale the next generation of companies,” said Michelle Scarborough, BDC’s Managing Director of Strategic Investments and Women in Tech.

This investment complements a 2015 commitment to increase term lending to businesses that are majority-owned by women to at least $700 million over three years. BDC surpassed the mark in 30 months, having lent $809 million.

Under this investment program, $60 million will be dedicated to investments to support women-led tech firms. The program will invest equity at the seed stage, Series A stage and sometimes at the Series B stage, alongside other investors. The eligible companies at the seed stage must have some traction and a scalable product, and be seeking a round of at least $1 million.

The remaining $10 million is allotted to indirect investments through regional initiatives, including a $5 million commitment to the first close of StandUp Ventures Fund I earlier this year.

Since November 2016, BDC Capital has completed nine investments in women-led tech firms totalling close to $3 million.

“With the additional investment announced today, BDC's funding envelope to support Women in Tech becomes the largest of its kind in North America," said Bardish Chagger, Minister of Small Business and Tourism in a statement.