Another fund partner leaves BDC

The shakeup at the Business Development Bank of Canada (BDC) is continuing as Guillaume Mercier, a partner in BDC Capital’s Industrial Innovation Fund, has announced his departure.

In a LinkedIn post on Wednesday, Montréal-based Mercier said he was leaving to “pursue fresh opportunities” and a “new energy” in his career. He didn’t indicate where he was going next, and BetaKit has asked both Mercier and BDC for comment.

“I’m proud of what was accomplished in service of the true builders of our economy: entrepreneurs.”
Guillaume Mercier

Mercier joined BDC in the partner role in 2020. Since then, he has also served in senior vice-president roles for impact and strategic priorities, as well as advisory services and business strategy.

He has served in a variety of fields, ranging from venture capital (as a Principal at Real Ventures) to entertainment (as president and CEO of Cirque du Soleil’s Elysium and UMA businesses). He was also an executive vice-president of marketing at now-beleaguered Montréal fashion retailer Ssense between 2017 and 2019.

In his LinkedIn post, Mercier called his time at BDC “rewarding” and said he was sad to leave “close friends” behind. He also expressed appreciation for business creators.

“I’m proud of what was accomplished in service of the true builders of our economy: entrepreneurs,” Mercier wrote.

His exit comes as BDC is in the midst of a reset that includes significant turnover in its leadership. BDC Capital Growth Venture Fund managing partner Dominique Bélanger left in early November, while Climate Tech Fund partners Cheri Corbett and Vivian Kan left in October. Michelle Scarborough, who led BDC’s women-oriented funds for eight years, left in June as Mona Minhas took her place. BDC Capital head Jérôme Nycz suddenly retired in July 2024 with Geneviève B outhillier tapped as his replacement.

There have also been structural changes. A new Life Sciences Fund is due in 2026. BDC also shuttered its Intellectual Property-Backed Financing program and consolidated it with Growth and Transition Capital. Earlier in 2025, the bank laid off team members at its Deep Tech Venture Fund.

BDC remains committed to the Industrial Innovation Fund, as it created a $200 million second fund this August. The initiative backs startups developing technologies to advance legacy industries, this time with an increased emphasis on critical minerals. The federal government is focused on improving Canadian economic sovereignty, and recently launched a Major Projects Office that will help develop “early-stage” strategies in similar sectors.

Feature image courtesy of BDC.