Michelle Scarborough has joined the company to lead its $37m investment in women-led tech startups.

BDC Capital, the investment division of the Business Development Bank of Canada, on Monday appointed Michelle Scarborough as a new managing director, strategic investments and women in tech.

Scarborough will begin her new position on April 17 and lead the women in tech initiative, a C$50m ($37m) initiative aimed at startups led by women, which BDC Capital announced in November 2016.

Her appointment follows that ofKarl Reckziegel as vice-president, funds and co-investments, as Global Government Venturing reported yesterday.

Scarborough joins BDC Capital from alternative asset management firm Kensington Capital Partners (KCP).

At KCP, she served as senior vice-president responsible for the management of fund of funds and direct investment activity in western Canada, including venture capital, private equity and infrastructure as well as the firm’s energy technology investments.

Additionally, Scarborough was chair of the National Angel Capital Organisation, the national industry association for angel investors in Canada, and a founder of the Women’s Angel Network.

Before joining KCP, Scarborough served as the managing director and entrepreneur in residence of the Regional Innovation Centre for Ottawa and Eastern Ontario, where she created and structured the Ontario province-owned C$250m Ontario Emerging Technology Fund (OETF).

OETF has supported more than 400 tech companies, made more than 60 investments and raised nearly C$100m for portfolio businesses.

Jérôme Nycz, executive vice-president of BDC Capital, said: “I am delighted to welcome Ms Scarborough to our team.

“She brings very impressive credentials to the position. She is a highly experienced Canadian venture capitalist and a widely recognised leader in the investment community, with an outstanding track record in the energy and technology sectors.”

– Image courtesy of LinkedIn