Benjamin Bergen Appointed CEO of the Canadian Venture Capital Association
The Canadian Venture Capital Association (CVCA) has ushered in a new era of leadership with the appointment of Benjamin Bergen as its new President and Chief Executive Officer. This strategic move comes at a pivotal moment for Canada’s innovation economy, as the nation seeks to solidify its position as a global hub for technology and entrepreneurship. Bergen, a respected figure with deep roots in public policy and advocacy, is poised to steer the CVCA through its next chapter of growth and influence.
Succeeding Kim Furlong, who led the association for five years, Bergen brings a wealth of experience from his previous role as President of the Council of Canadian Innovators (CCI). There, he was instrumental in amplifying the voices of homegrown technology scale-ups on the national stage, advocating for policies that foster competitive domestic companies. His transition to the CVCA represents a natural alignment of his expertise with the critical role of venture capital in fueling the ambitions of Canadian innovators.
A Strategic Leader for a Critical Juncture
The CVCA’s selection committee, chaired by Partner at Inovia Capital, Karamdeep Nijjar, emphasized that Bergen’s extensive background in advocacy and his nuanced understanding of the scale-up landscape made him the ideal candidate. At a time when access to capital, talent retention, and global competitiveness are top of mind, Bergen’s vision is expected to be a driving force for the entire ecosystem.
Charting the Course: Key Priorities for the CVCA
Bergen steps into his role with a clear-eyed view of the opportunities and challenges facing Canadian venture capital. His initial focus areas are anticipated to revolve around several core pillars:
Industry Reaction: A Welcome and Forward-Looking Appointment
The announcement has been met with widespread approval from across Canada’s investment community. Bergen is recognized as a formidable and knowledgeable leader whose skills are precisely what the industry needs today.
Karamdeep Nijjar stated, “Benjamin’s proven track record in advocacy and his deep connections within the innovation ecosystem will be invaluable assets for the CVCA. We are confident he will provide strong leadership as we work to address the opportunities and challenges facing the venture capital and private equity industry in Canada.”
Echoing this sentiment, John Ruffolo, Founder and Managing Partner of Maverix Private Equity, highlighted the timeliness of the appointment. “Benjamin Bergen is an exceptional choice to lead the CVCA. His experience at the Council of Canadian Innovators has given him a frontline perspective on what it takes to scale companies in Canada. His understanding of the policy landscape will be critical as we navigate a complex economic environment and strive to keep Canadian innovation competitive on the world stage.”
The Road Ahead: Navigating a Complex Market
Bergen assumes leadership during a period of market recalibration. After the unprecedented investment highs of 2021, the global venture landscape has undergone a significant shift towards selectivity and sustainable growth. For Canada, this presents both a test and an opportunity.
The need for a cohesive, powerful voice representing Canadian VC has never been greater. International competition for top deals is fierce, and domestic companies require patient, knowledgeable capital to reach their full potential without being forced to relocate or sell prematurely. Bergen’s mandate will involve not only navigating these macroeconomic headwinds but also positioning Canada as a resilient and attractive destination for investment capital.
Building on a Strong Foundation
Bergen inherits an association that has grown in stature and impact under previous leadership. The CVCA’s annual conferences, research reports, and networking forums are cornerstone events for the ecosystem. The challenge and opportunity for the new CEO will be to build upon this solid foundation, expanding the CVCA’s reach and impact both within Canada and internationally.
His immediate tasks will involve deep engagement with the CVCA’s diverse membership—which includes venture capital and private equity firms, corporate investors, and institutional limited partners—to understand their evolving priorities and to craft a unified agenda.
Conclusion: A New Chapter for Canadian Innovation Capital
The appointment of Benjamin Bergen as CEO of the Canadian Venture Capital Association marks a significant and promising moment. It symbolizes a strategic alignment between the worlds of high-stakes investment and public policy advocacy. Bergen’s unique experience, standing at the intersection of government and scaling technology companies, equips him with the tools to advocate effectively for the capital and conditions that Canadian innovators need to thrive.
As he steps into this role, the focus will be on action: driving policy changes, facilitating crucial connections, and providing the data-driven insights that fuel a healthy, competitive, and inclusive venture ecosystem. The entire Canadian technology and investment community will be watching with anticipation, supportive of a leader who has consistently demonstrated a commitment to building a more ambitious and self-sufficient Canadian economy. The journey ahead is complex, but with strategic leadership, the future of Canadian venture capital looks bright.
