ASSOCIATE DIRECTOR, GOVERNEMENT FUNDS

Business Development Bank of Canada; Montreal; On-site; CAD 110,000 - 170,000; Full time

Benefits offered by this job

Hybrid work model

Defined Benefit Pension Plan

Wellness and health spending account

Paid vacation + personal days

Employee Savings & Investment Plan

Job summary

Business Development Bank of Canada (BDC) is seeking an Associate Director to support government-backed venture capital programs, including VCAP, VCCI, and Growth VCCI. You will combine investment judgment with governance and relationship management to oversee commitments, underwriting, and portfolio oversight while engaging with fund managers and government partners.

You will lead investment processes, contribute to structuring and negotiations, ensure governance compliance, and mentor junior

Qualifications

• Minimum of a Bachelor degree in Commerce or a related discipline (finance, accounting, law or business administration preferred)
• 5+ years experience in venture capital, private equity, or growth investing with deal-making and underwriting experience
• Experience in governance roles, LPACs or board-level oversight

Responsibilities

• Lead investment processes across fund commitments and expressions of interest on behalf of the Government
• Contribute to deal underwriting, structuring, negotiation and closing with fund managers
• Monitor fund performance, governance, and compliance with agreements and program requirements
• Build and maintain relationships with fund managers, ecosystem stakeholders and government partners
• Support program execution, reporting, and governance standards, including dashboards and communications

Skills

Venture capital

Private equity

Deal execution

Governance

Stakeholder management

Investment underwriting

Negotiation

Funding structures

Education

Bachelor’s degree in Commerce or related field

Job description

We are banking at another level. Choosing BDC as your employer means working in a healthy, inclusive, and skilled workplace that puts forward the best conditions to bring together unique teams where employees are empowered to act. It also means being at the centre of ambitious economic and financial projects to see further and to do things differently, to fuel the success of Canadian entrepreneurs. Choosing BDC as your employer also means: Flexible and competitive benefits, including an Employee Savings and Investment Plan where BDC matches part of your voluntary contributions, a Defined Benefit Pension Plan, a $750 wellness and health care spending account, to name a few In addition to paid vacation each year, five personal days, sick days as necessary, and our offices are closed from December 25 to January 1 A hybrid work model that truly balances work and personal life Opportunities for learning, training and development, and much more... Explore the BDC Way in our Culture Book Location: Montreal or Ottawa preferred Join a team shaping Canada’s venture capital ecosystem At BDC, the Government Funds team manages capital on behalf of the Government of Canada to strengthen and grow Canada’s venture capital market. This includes deploying $350M under the Venture Capital Action Plan (VCAP), $450M under the Venture Capital Catalyst Initiative (VCCI), and $450M under the Renewed Venture Capital Catalyst Initiative (Renewed VCCI). These programs totalling $1.2B AUM are designed to crowd in private capital and support fund managers across the Canadian venture capital asset class. Building on this foundation, BDC is now deploying the $1B Growth Venture Capital Catalyst Initiative (Growth VCCI), a landmark platform focused on scaling Canada’s most promising funds and innovative companies. This is a unique opportunity to work at the intersection of investment, policy, and ecosystem development, with direct exposure to the most prominent Canadian fund managers while contributing to a national priority initiative shaping Canada’s innovation economy.

POSITION OVERVIEW

As an Associate Director, you will combine investment judgment, governance expertise, and relationship management to support the deployment and oversight of government-backed venture capital programs, including VCAP, VCCI, Renewed VCCI, and upcoming Growth VCCI. You will play a central role in investment execution, fund oversight, and portfolio management, while engaging closely with fund managers, institutional partners, and internal and stakeholders including Government.

CHALLENGES TO BE MET

Investment & Deal Execution

• Lead investment processes across fund commitments in the context of a competitive call for expressions of interest on behalf of the Government
• Contribute to deal underwriting, structuring, negotiation, and closing processes, including engagement in legal negotiations from a business perspective and alignment on terms with fund managers

Fund Oversight & Governance

• Serve as a representative on portfolio funds’ LPACs
• Monitor fund performance, governance, and compliance with fund agreements and program requirements
• Provide strategic insight and constructive challenge to enhance fund outcomes

Portfolio & Ecosystem Engagement

• Build and maintain strong relationships with fund managers, ecosystem stakeholders, and government partners
• Stay closely connected to venture capital trends and market developments
• Represent BDC in the ecosystem to strengthen program visibility and impact

Program Execution & Reporting

• Contribute to the delivery and continuous improvement of program frameworks, processes, and governance standards
• Support the preparation of quarterly and annual reporting, performance dashboards, and stakeholder communications
• Ensure high standards of rigour, accuracy, and timeliness in all reporting outputs

Team Contribution

• Mentor and support junior team members
• Contribute to a collaborative, high-performance culture

WHAT WE ARE LOOKING FOR

Experience and qualifications

Minimum of a Bachelor degree in Commerce or a related discipline (finance, accounting, law or business administration preferred), or an equivalent combination of academic training and relevant professional experience 5 years+ experience in venture capital, private equity, or growth investing, with direct exposure to deal-making at the fund and/or company level as well as investment underwriting, structuring, business and legal negotiations and execution Experience in governance roles, including participation in LPACs and/or Board-level or equivalent oversight experience Strong understanding of fund structures, LPAs, governance frameworks, and performance dynamics Ability to manage complex stakeholder relationships with fund managers and institutional partners

Core competencies

• Strong analytical and investment judgment
• Excellent communication and influencing skills
• High level of rigour, organisation, and attention to detail
• Ability to operate in a fast-paced, multi-stakeholder environment
• Collaborative mindset with a commitment to team development and excellence

The position is primarily based in Montreal or Ottawa, with a preference for these locations. Toronto is also acceptable. BDC is committed to building a diverse, equitable and inclusive workplace that reflects the communities we serve. We are dedicated to providing an environment where all employees feel valued, respected and able to reach their full potential. We welcome applications from individuals of all backgrounds and encourage candidates to request accommodation at any stage of the recruitment process. Proudly one of Canada’s Top 100 Employers and one of Canada’s Best Diversity Employers, we are committed to fostering a diverse, equitable, inclusive and accessible environment where all employees can thrive and feel empowered to bring their whole selves to work. If you require an accommodation to complete your application, please do not hesitate to contact us at [e-mail]. While we appreciate all applications, we advise that only the candidates selected to participate in the recruitment process will be contacted.

BDC is a bank unlike any other. We are the only bank dedicated exclusively to the development of Canadian businesses. The only institution whose purpose is to promote the growth of the Canadian economy by focusing on the success of small and medium-sized businesses, with a human touch and a genuine presence. At BDC, we’re changing people’s and businesses’ lives for the better. That’s what makes us unique as a bank. That’s why we are banking at another level.