ASSOCIATE PRINCIPAL, VENTURE CAPITAL
City : Vancouver
Category : Venture Capital
Industry : Banking
Employer : BDC
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At BDC, we help Canada and its entrepreneurs create a prosperous, inclusive and green economy. Our mission is to help Canadian businesses thrive by providing financing, capital and advisory services. We’re devoted to Canadian entrepreneurs. We’re also dedicated to our employees. Adaptable. Inspiring. Different. There’s a reason we like to work here, and we think you’ll like it too. Join BDC and help make a difference!
Diversity. Equity. Inclusion. They’re more than just words for BDC. These concepts are foundational to our success and to our ability to attract, retain, mobilize and develop the right talent, as well as to offer a healthy, professional and collaborative environment. We are committed to cultivating and preserving an environment where all employees can thrive, and, for over a decade, we have been recognized as one of Canada's Top 100 Employers and one of Canada's Best Diversity Employers. In recruiting for our team, we welcome the unique contributions that you can bring in terms of your education, opinions, culture, ethnicity, race, sex, gender identity and expression, nation of origin, age, languages spoken, veteran’s status, color, religion, disability, sexual orientation, beliefs, experiences, and more.
The Associate Principal will work out of BDC Capital’s Vancouver office (hybrid office-home setup), playing a pivotal role with the Seed 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 not limited to deal sourcing, leading diligence, staying deeply connected with the VC ecosystem and to play a pivotal role with the BDC Seed 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 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.
The BDC Seed Fund is currently gearing up to launch Seed Fund I, targeting to invest in world-class Seed-stage entrepreneurs across Canada. This new fund will lead investments, work with companies across all Seed-stages and collaborate with Accelerators. Investments will focus on Canadian software companies with potential to shape the next decade of innovation. The team also manages a legacy portfolio, companies from 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 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
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
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 funds, BDC Capital and BDC
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 exist strategies
Conduct reference calls with competitors, clients, industry experts, and prospect company’s current or past employees
Follow-up on investments using appropriate data bases, 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-add 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
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
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 post-graduate 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)
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 skills, financial analysis, research 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
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 detailed 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
With us, you'll be able to achieve the work/life balance you're looking for, with competitive working conditions and above-market flexible benefits. This includes modern workspaces to work from when you are in our offices, and, for some specific positions, the ability to work remotely, on reserve, and/or within your community.
While we appreciate all applications, we advise that only the candidates selected to participate in the recruitment process will be contacted. If you are a candidate with a disability and need an accommodation to complete the application process, please email us at accessibility@BDC.ca, and include your full name, the best way to reach you, and the accommodation needed to assist you with the application process.