POSITION OVERVIEW

The Associate will work from BDC Capital’s Toronto office (hybrid office-home setup), playing a pivotal role with the Seed Venture Fund investment team. Associates work closely with team members and founders in evaluating potential investments and collaborate closely with portfolio companies on a variety of areas. In this role, you will lead a few simultaneous investment analysis workstreams, support the team in networking activities, and monitor a portfolio of investments that ultimately shape the future of the Canadian VC ecosystem. You will cover strategic topics such as capital markets, industries, ecosystems, and competitive landscapes, as well as operational ones, such as company financials, management, and product. You are expected to combine strong analytic skills and business acumen to leverage the input of experts on a variety of market and industry subjects. 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 BDC Seed Venture Fund leads investments in world-class Seed-stage entrepreneurs across Canada. The fund works with companies across all Seed-stages and collaborates deeply with early-stage ecosystem stakeholders including Accelerators, Incubators, and Angel groups; this includes hosting office hours and ecosystem events across the country. Investments 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. Post-investment, the team works very closely with portfolio companies and uses its experience and expertise to assist in GTM efforts, hiring, fundraising, and helping portfolio companies build a sophisticated base that enable them to grow and scale faster beyond the Seed-stage.

CHALLENGES TO BE MET

Platform Building

• Assist in managing the deal pipeline, quarterly/bi-annual reports, and providing financial analysis

• Support other team members as appropriate during the development stage of an investment

• Ensure that the investment research files, business plans and other collected information are maintained in conformity with BDC’s policies and procedures

• Ensure that new and existing investments files are properly documented by monitoring investments, amendments, and disbursements, including financial analysis and forecasting

Deal Sourcing

• Discuss informally with entrepreneurs, investors and company representatives at occasional investment community or industry events, relaying any relevant information upwards

• Maintain involvement in associations within the investment community, and keep abreast of significant developments, activities, and initiatives in the industry

• Stay on top of the current portfolio, identifying companies that are likely to raise funds for new and follow-on investments, and relaying information upwards

• Perform market research and scouting to inform the fund’s investment strategy, identifying emerging markets, verticals, technologies, or companies

• Conduct initial business plan reviews, support initial communications with entrepreneurs and referring sources, prepare initial review memoranda and recommendations to pursue or decline

Deal Making

• Lead a workstream of due diligence on companies’ market, competition, management, sales, products, cap table, and anything that is relevant to determining potential business value and exist strategies

• Determine and validate performance metrics, creating valuation models, forecasts and financial pro formas

• Draft Investment Memos, most often focusing on the Financials and Market sections

• Support Partners leading a deal, during presentations to the Investment Committee

• Analyze technical documentation and/or work with technical consultants to evaluate technologies, products, and services

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

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

Portfolio Management & Support

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

• Participate occasionally in investee board meetings as an observer, keeping abreast of developments and escalating relevant information to Partners

• Assist investees with introductions to potential suppliers, investors, and employees

WHAT WE ARE LOOKING FOR

Typical Background

• 5 years of experience in a role involving critical 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 of finance can be particularly valuable if combined with some analytical skills; we strongly encourage previous entrepreneurs to apply given most Seed Venture Fund team members come from founder, operator, product and/or technology backgrounds

• 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, completed or in course, 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)

• Chartered Professional Accountant (CPA)

Technical Knowledge

• Entrepreneurial mindset and the ability to break down problems into smaller sections, in order to gain deeper levels of understanding and ultimately drive investment decisions

• 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 contribute to an Investment Memo that is clear, concise, and eloquent

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

• Advanced Word, PowerPoint and Google Sheets skills

• Ability to intervene pertinently in the context of a presentation to executive audiences

• Any technology skills with wide application, such as coding or electronics are 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 detailed oriented, organized, proactive and self-motivated

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

• Supportive, helpful attitude – willingness to proactively identify gaps and jump-in to fill them

• Motivation and ability to do focused, independent work, in the context of a team

• Ability to work collaboratively and build positive relationships with stakeholders

• Continuous learning attitude, with maturity to take feedback constructively

• Openness to share knowledge and advice with less experienced colleagues

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