BDC Capital launches new Canadian private capital reporting template to account for diversity, equity and inclusion

  • Leveraging global standards, the report is tailored to the Canadian market and will serve as a national best practice
  • Model provides consistent reporting for diversity and inclusion metrics related to gender, race, ethnicity and identification

MONTREAL, February 11, 2022 /CNW Telbec/ – BDC Capital (BDCC) today launched a new Diversity, Equity and Inclusion (DEI) Reporting Template for Canadian GPs and their wallets. The new tool builds on the overarching framework of ILPA’s Diversity Measurements Model to capture metrics related to gender, race, ethnicity and identification in a way that aligns in the Canadian market. The template recognizes the need for more standardized and comprehensive reporting on DEI metrics across private equity and venture capital firms and their portfolio companies at a time when many Canadian funds are adopting more inclusive practices.

“We can only improve what we can measure,” says Jérôme Nycz, Executive Vice President, BDC Capital. “Based on global best practices, we want to facilitate from Canada innovation ecosystem to report on DEI. As Canada’s most connected venture capital investor, BDC Capital is uniquely positioned to champion this data collection, analysis and reporting tool. Data that allows us all to continue to learn, adapt and improve together.”

The tool is inspired by the recently launched Institutional Limited Partners Association (ILPA) Diversity Measurement Model, and developed through a consultative process with Canadian LPs, GPs and the Canadian Venture Capital & Private Equity Association (CVCA). It tracks quantitative and qualitative data at the GP level and in the underlying portfolio by documenting self-disclosed gender and race (and other relevant data), team data, as well as details on policies and DEI practices.

“Evidence demonstrates that only with diverse perspectives can private capital make better investment decisions and ultimately improve returns for investors,” says Kim Furlong, CEO, HVAC. “We are proud to work with BDC Capital on this important initiative to increase the consistency and transparency of diversity metrics in our industry.”

“Since launching the ILPA Diversity Measurements Model last year, we have already seen wide adoption, largely thanks to the efforts of LPs such as BDCC to advance the dialogue around DEI with their GPs. We commend the BDCC team for taking a leadership role in promoting standardized DEI measurements in the Canadian market, and we are thrilled to see lasting and measurable change as a result of differentiated engagement across the industry,” said jennifer choiManaging Director, Industrial Affairs, ILPA.

“Diversity and inclusion within the venture capital industry are key values ​​for Réseau Capital, the Quebec association of private capital. In addition to being performance factors, they are essential to the dynamism and sustainability of our ecosystem and are key societal issues to which our industry must actively contribute,” said Guillaume Caudron, Chairman and CEO. “Réseau Capital is proud to support this initiative. We are convinced that the implementation of such a tool will help our industry and our members in their desire to be exemplary in this field.”

Several Canadian GPs and LPs have endorsed the model, including HarbourVest, Inovia Capital, MacKinnon, Bennett & Co. (MKB), Northleaf Capital Partners, Teralys Capital and McRock Capital. “As investors focused on driving innovation, we see DEI standards adoption as a critical part of the journey.” noted Chanel Damphousse, Partner at MKB. “In addition to helping us harmonize data collection and reporting practices, this model will allow the industry to identify learnings and best practices accelerating diversity and inclusion across funds and their portfolio companies. “

“Incorporating a regular and robust process for tracking diversity metrics with GPs and underlying portfolio companies not only drives awareness but also financial performance. We hope this is just the beginning and will serve as a critical foundation for deepening our understanding of how we can empower and include all of our team members and the people of our portfolio companies,” added Whitney Rockleyco-founder and managing partner at McRock Capital.

BDC helps Canada and its entrepreneurs create a prosperous, inclusive and green economy. DEI is a business imperative for BDC, which takes steps internally and externally to ensure its team, suppliers and the entrepreneurs it serves are as diverse as the people Canada. Through its National Women Entrepreneurship Strategy, BDC provided more than $1.7 billion in financing more than 5,000 women entrepreneurs since 2018. More recently, the Bank collaborated with the National Aboriginal Capital Corporation Association (NACCA) to design the $150 million Indigenous Growth Fund to increase access to capital for Indigenous business owners. He also committed $130 million to support the Federation of African Canadian Economics (FACE) Black Entrepreneurship Loan Fund. Some of BDC Capital’s initiatives include the co-creation of various fund platforms, including StandUp Ventures and BKR Capital’s Black Innovation Fund, and it houses the $200 million Venture capital fund for women in technology. BDC Capital is also a founding signatory of ILPA Diversity in Action Initiative.

Download DEI report template

About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. BDC Capital is a strategic partner of the most innovative companies in the country. It offers companies a full range of capital, from seed investments to growth capital, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit

SOURCE Business Development Bank of Canada

For further information: BDC Media Relations, [email protected]


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