TLDR:
- Jérôme Nycz announced his retirement from BDC Capital, where he served as executive vice president for over a decade.
- The announcement was sudden and surprising, with Nycz set to remain in his role until July 19.
In a surprising development, Jérôme Nycz has announced his retirement from BDC Capital, Canada’s largest and most active venture capital investor. Nycz, who has served as the executive vice president of BDC Capital for over a decade, made the announcement to the team during a conference call, leaving many participants in tears. Despite the abrupt nature of the announcement, Nycz will continue in his role until July 19, with a public announcement regarding his departure expected next week.
Nycz first joined BDC in 2002 as the director of corporate planning before assuming the executive vice president role at BDC Capital in 2013. During his tenure as EVP, Nycz oversaw the bank’s fund of funds and the deployment of venture capital programs on behalf of the Government of Canada. He has also been involved in various industry boards, including the Montreal Heart Institute Foundation and the Canadian Venture Capital & Private Equity Association (CVCA).
The news of Nycz’s departure has caught members of the Canadian venture capital community by surprise, as well as some within BDC itself. With assets under management exceeding $6 billion, BDC Capital is considered a key player in the Canadian venture capital landscape. Recent fund investments by BDC Capital include companies like Amplitude Ventures, McRock Capital, and Golden Ventures, while direct investments have been made in startups like Maxa, 4AG Robotics, and MarineLabs.
As the industry reacts to this unexpected change in leadership, it remains to be seen how BDC Capital will navigate this transition and continue its investment activities in the Canadian tech ecosystem.
