CVCA Member Profile: NAVentures

We’re continuing our new member series on CVCA Central; profiling our new members and providing insight into these invaluable organizations in our community.

The latest member we are excited to profile is NAVentures.

Tell us about NAVentures

• NAventures is the corporate venture capital arm of National Bank of Canada, one of Canada’s largest and most trusted financial institutions. 
• With a global mandate, NAventures has been actively participating in Canadian, American, and international venture capital ecosystems since its inception in 2017. 
• To date, NAventures has made over 30 equity investments across Canada, the US and Israel and is amongst the most active corporate venture capital funds in Canada. 
• NAventures has offices in Montreal, Quebec, Canada and Tel Aviv, Israel.

What is NAVentures thesis?

• NAventures’ objective is to invest in, partner with, and scale early to mid-stage technology companies that will shape the future of financial services.
• NAventures investments are strategic in nature. We invest with the purpose of creating partnership opportunities for National Bank and its stakeholders.
• We invest primarily in fintech, cybersecurity, enterprise software, insurtech, regtech, and proptech from Seed to Series C.
• We leverage National Bank’s diverse assets to help innovative companies unlock exceptional growth opportunities and contribute to National Bank’s long-term strategy.
• NAventures invests alongside other Tier 1 investors as a lead or as part of a syndicate.

Tell us about the NAVentures team

• Philippe Daoust
  • Philippe is the Managing Director at NAventures. Based in Montreal, he focuses on sourcing companies that will advance National Bank’s digital transformation. Before joining NAventures, Philippe developed and led the integration and separation advisory practice at a Big 4 accounting firm where he held various roles ranging from engagement sourcing to due diligence and integration advisory. He worked on large mergers and acquisition projects, including transformative deals for Canadian financial institutions. Philippe also practiced for several years in the United States, France, Latin America and New Zealand.
• James Povitz
  • James is a Principal at NAventures. Based in Montreal, he sources fintech, insurtech and proptech investments and works closely with NAventures portfolio companies throughout their lifecycle. James has nearly a decade of deal experience and has helped NAventures portfolio companies raise hundreds of millions of dollars in capital. Prior to joining NAventures, James worked with the strategic initiatives, partnerships and investments team at National Bank, developing and delivering projects in retail and commercial banking. Before National Bank, he worked at Osler, Hoskin & Harcourt LLP, where he advised startups, VCs, and other businesses on legal matters relating to venture deals, fund formations and M&A transactions. 
• Joshuah Lebacq
  • Josh is a Principal at NAventures. Based in Montreal, his focus is on unlocking growth and driving innovation at National Bank by identifying early trends and taking action. Before joining NAventures, Josh worked in corporate strategy at the Business Development Bank of Canada and Accenture Strategy. He developed a track record as a leader in corporate strategy, corporate development, and new venture development.
• Jonathan Dellar-Fernandes
  • Jonathan is an Associate at NAventures. Based in Montreal, he focuses on research in the banking and fintech industries and is responsible for investment analysis and due diligence. During his time at NAventures, Jonathan has helped build business cases and evaluate the financial benefits of strategic opportunities for both National Bank and NAventures portfolio companies. Before that, Jonathan worked at Jarislowsky, Fraser Ltd. and Echelon Wealth Partners. 

What is NAVentures excited about in the future?

• In the near term, NAventures will continue to provide National Bank and NAventures portfolio companies with exceptional partnership opportunities, a diversified and robust portfolio of innovative companies solving pain points for financial institutions globally and insights gathered from venture capital ecosystems across the globe.
• In the long term NAventures will:
  • Continue to invest in and grow technology companies that will shape the future of financial services;
  • Scale partnerships between National Bank and NAventures portfolio companies; and 
  • Expand its presence globally by investing in new geographies and adding value in new venture capital ecosystems.