ASSOCIATE PRINCIPAL, SEED VENTURE FUND

Job title:

ASSOCIATE PRINCIPAL, SEED VENTURE FUND

Company

Banque de développement du Canada

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…

Kindly note that this is a bilingual position, requiring French and English.

POSITION OVERVIEW

The Associate Principal will work out of BDC Capital’s Montreal office (hybrid office-home setup), playing a pivotal role with the Seed Venture Fund investment team. The individual is expected to be a highly organized, motivated and enthusiastic self-starter who works on multiple initiatives with light supervision. Key responsibilities include, but are not limited to, deal sourcing, leading diligence, staying deeply connected with the VC ecosystem and playing a pivotal role with the BDC Seed Venture Fund team. Confident and positive, this individual is also high-energy, cultured, and capable of easily interacting with senior management at BDC Capital and portfolio companies alike. Flexibility and willingness to get involved in many different aspects of the Seed Venture Fund and portfolio companies are required; given no two days are ever the same in Venture Capital, flexibility of time and effort is paramount to be successful in this dynamic role.

TEAM OVERVIEW

The recently launched BDC Seed Venture Fund is targeting lead investments in world-class Seed-stage entrepreneurs across Canada. This new fund works with companies across all Seed stages and collaborates deeply with Accelerators. Investments focus on Canadian software companies with potential to shape the next decade of innovation. The team also manages a legacy portfolio, companies which have gone on to raise $1B in capital over the last decade, generating an outsized impact on the Canadian VC ecosystem. The dedicated Seed Venture Fund team works very closely with portfolio companies and uses its experience and expertise to assist in growing these companies beyond Seed and to successful exits.

CHALLENGES TO BE MET

Deal Sourcing

Lead initial assessment of companies by coordinating initial business plan reviews, managing initial communication with entrepreneurs and referring sources, and preparing initial interview guides and alignment memoranda with recommendations to pursue or decline deals

Stay on top of the current portfolio, identifying companies that are likely to raise capital, and discussing potential new or follow-on investment with Partners

Build and maintain networks within the investment community, acting as an ambassador for the fund, BDC Capital and BDC

Deal Making

Coordinate due diligence for new and/or existing investment opportunities by orchestrating analyses such as market, competition, management, sales, products, cap table, and anything that is relevant to determining potential business value and exit strategies

Conduct reference calls with competitors, clients, industry experts, and prospect company’s current or past employees

Follow-up on investments using appropriate databases, customer interaction, internet sites, research reports and other investment resources

Validate, audit and fact-check information provided by companies

Develop and maintain appropriate information resources and subject matter expertise in various industries, markets, and business trends

Produce Investment Memos and support Partners in presenting opportunities to the Investment Committee

Review and comment on legal agreements negotiated by the deal’s lead

Portfolio Management & Support

Assist partners in managing efficient ongoing relationships with executives of investee companies, promptly responding to all inquiries in a courteous and efficient manner

Stand responsible for a few companies to monitor and provide value-added support, taking charge of operational communication, participating in board meetings as an observer, and keeping abreast of developments to escalate critical issues to Partners

Monitor portfolio performance, comparing performance to forecasts and models, and relaying potential opportunities and issues to management

Assist portfolio companies with introductions (e.g. potential suppliers, investors, employees), governance, financing, strategic planning, marketing, and other operational topics

Platform Building

Ensure that new and existing investment research files, business plans, and periodic performance reports provided by companies, as well as any other information collected by the investment team, are maintained in conformity with BDC’s policies and procedures

Review quarterly/bi-annual reports and value assessments made by Analysts and Associates, before Partner sign-off

Coach Analysts and Associates to ensure the quality of deliverables and support alignment with formal procedures such as KYC, AML, delegation of authority, and capital calls

Assist on occasion with recruiting for the team and new employees’ onboarding

Support other team members, as appropriate, during the development stage of an investment, covering Analyst or Associate tasks, such as modeling or compliance, when team is short-staffed

WHAT WE ARE LOOKING FOR

Typical Background

Candidate must be bilingual, with excellent written and verbal communication skills in both French and English

5 to 7 years of experience in a role involving structured thinking, financial analysis, and technical expertise. These profiles are likely to come from, but are not limited to:

Finance roles: Venture Capital, Private Equity, Investment Bank, Accounting firm

Operator roles: Technology startup, industry-leading corporation, industry specialist

Advisory roles: Consulting, Law, Corporate Strategy, Corporate Development

Experience in an industry outside finance can be particularly valuable in some teams

Bachelor’s degree in Commerce, Economics, Science, Technology, Engineering or Mathematics (STEM). Other degrees are viable, if the professional has strong analytical skills

A postgraduate degree or equivalent certification is valuable. Typical post-graduate credentials are likely to be, but are not limited to:

Master’s in business administration (MBA)

Other STEM Master’s or PhD degree

Chartered Financial Analyst (CFA)

Technical Knowledge

Thorough understanding of the deal process, from sourcing to due diligence, to portfolio management

Advanced knowledge of Excel, particularly in building robust financial models that include sensitivity analysis and scenario modeling, as well as performing complex data analysis. Any other analytic tools and techniques are an asset

Outstanding analytical, financial analysis and research skills, and a keen ability to turn data into actionable insights; ability to prepare financial forecasts and pro-forma financial statements

Ability to write an Investment Memo that is clear, concise, and eloquent

Advanced Word, PowerPoint and Google Sheets skills

Technology skills with wide application, such as coding or electronics can be an asset

Operational knowledge of any technical industry is an asset

Behavioral Traits

Strong intellectual curiosity and deep interest in early-stage technology startups/ecosystem; relevant experience within a startup or emerging technology company is an asset

Highly detail-oriented, organized, proactive and self-motivated

High EQ, outstanding communications skills, both written and verbal, strong team player

Supportive, helpful attitude – sensitivity to identify what the fund needs, take ownership of team performance, and relieve Partners from operations so that they can focus on the deal pipeline

Ability to work collaboratively and build positive relationships with stakeholders within and outside BDC, with a sensible approach to vertical and horizontal relationships

Strong ability to problem-solve using structured thinking and communication techniques

Interpersonal polish, ability to influence pertinently in the context of business settings, including operational and executive audiences

Motivation and ability to leverage work as a team, by taking a leadership role

Enthusiasm to support and coach more junior colleagues, sharing knowledge and advice

Continuous learning attitude, with maturity to give and take feedback constructively

Comfort working in a fast-paced environment, where objectives must be met within tight deadlines

Willingness to shift from the main role, taking up any task that is necessary to get the job done

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 .

While we appreciate all applications, we advise that only the candidates selected to participate in the recruitment process will be contacted.

Expected salary

Location

Montreal, QC

Job date

Tue, 09 Jan 2024 02:13:15 GMT

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