British Columbia Discovery Fund Provides Lead Order of $2

British Columbia Discovery Fund Provides Lead Order of $2 Million as
D-Wave Systems, Inc. Completes $30 Million Equity Raise 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- British
Columbia Discovery Fund (VCC) Inc. is very pleased to announce that
it has invested $2.0 million in D-Wave Systems, Inc. as the lead
order that initiated a $30 million round of equity funding for
D-Wave. Bezos Expeditions and In-Q-Tel (IQT) have also joined the
investment round. Bezos Expeditions is the personal investment
company of Jeff Bezos, the founder and CEO of, Inc. IQT is
the strategic investment firm that delivers innovative technology
solutions in support of the missions of the U.S. intelligence
"We are pleased to have attracted such highly regarded investors to
our company," stated Vern Brownell, CEO of D-Wave. "Jeff Bezos and
In-Q-Tel are well-known visionaries. Both understand the implications
of quantum computing as a world changing force, and these investments
affirm their belief in D-Wave's unique approach to quantum computing.
We want to thank BC Discovery Fund for providing the lead order and
negotiating the terms under which we could complete this round. With
these funds, we are accelerating our trajectory, putting this
technology and its applications into the hands of users." 
BC Discovery Fund, Bezos Expeditions and IQT join current D-Wave
investors, including Business Development Bank of Canada, Draper
Fisher Jurvetson, Goldman Sachs, Growthworks, Harris & Harris Group,
International Investment and Underwriting, and Kensington Partners
D-Wave will use the new funding to augment its commercial operations
and further increase its capabilities to provide solutions to its
customers. This added capital allows D-Wave to pursue its growth
strategy with the intention of making a difference to their
customers' mission objectives. Those objectives are central to D-Wave
technological innovation and quantum computing applications
development. "Our Intelligence Community customers have many complex
problems that tax classical computing architecture," stated Robert
Ames, Vice President in charge of Information and Communication
Technologies at IQT. "We believe our customers can benefit from the
promise of quantum computing, and this investment in D-Wave is a
first step in that direction." 
"Having achieved its first sale in 2011, D-Wave offers the first
quantum computing system on the market," said Charles Cook, CFO of
the Fund. "As a later stage investment of the Fund, we were attracted
to D-Wave's strong pipeline of potential customers and investors, and
we believe that D-Wave is on the brink of significant commercial
About D-Wave Systems Inc. 
Founded in 1999, D-Wave's mission is to integrate new discoveries in
physics and computer science into breakthrough new approaches to
computation. The company's flagship product, the D-Wave One(TM), is
built around a novel type of superconducting processor that uses
quantum mechanics to massively accelerate computation. In 2010
Lockheed Martin purchased serial number 1, completing the historic
world's first sale of a commercial quantum computer. With
headquarters near Vancouver, Canada, its U.S. offices, as well as its
superconducting chip foundry, are located in Silicon Valley. D-Wave
has a blue-chip investor base including Business Development Bank of
Canada, Draper Fisher Jurvetson, Goldman Sachs, Growthworks, Harris &
Harris Group, International Investment and Underwriting, Kensington
Partners Limited. Gartner Group analysts named D-Wave 2012 Cool
Vendor in High-Performance Computing and Extreme-Low-Energy Servers. 
About British Columbia Discovery Fund (VCC) Inc. 
British Columbia Discovery Fund (VCC) Inc. was established to make
venture capital investments in a portfolio of small businesses in
British Columbia that qualify under the Small Business Venture
Capital Act, focusing on all of B.C.'s top internationally recognized
technology clusters: information technology (software and hardware);
mobile technology (wireless and networking solutions); clean
technology (alternative energy and energy-saving technology
solutions); new media; and health and life sciences. 
Established in 2002 and managed by Discovery Capital Management
Corp., the Fund is focussed on making diversified investments in
British Columbia with the objectives of achieving long-term capital
appreciation for its shareholders and contributing to the growth in
value and employment of the technology industry in British Columbia.
In addition to offering a means of participating in the potential of
British Columbia's newest technology ventures, the Fund offers
significant tax savings to eligible British Columbia individual and
corporate investors. The Fund, which offers its shares on a
continuous basis, has raised approximately $75 million to date and
has active investments in twelve developing technology companies. To
obtain further information about the Fund, please contact a
registered advisor or visit or 
John McEwen, CEO, B.C. Discovery Fund (VCC) Inc. 
Harry Jaako, President, B.C. Discovery Fund (VCC) Inc. 
This press release is not an offer to sell or a solicitation of an
offer to buy common shares. This press release may include statements
about expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties. The
issuer cautions that actual performance will be affected by a number
of factors, many of which are beyond its control. Future events and
results may vary substantially from what the issuer currently
British Columbia Discovery Fund (VCC) Inc.
Todd Riley
Sales & Marketing Director
(604) 683-3000 ext. 115
(604) 662-3457 (FAX)
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