BDC Capital: Building Indigenous Economic Futures
In 2025, BDC Capital’s new $100M fund for Indigenous entrepreneurs was named one of Indigenomics’ Ten to Watch, a distinction that honours visionaries shaping the $100-billion Indigenous economy through innovation, inclusion, and collaboration.
The recognition places BDC Capital among a select group of leaders whose work is transforming how Canada understands Indigenous participation in economic design. For Geneviève Bouthillier and Darian Hirst, the team behind the fund, the honour acknowledges both achievement and intention. Their work focuses on changing financial systems so they reflect Indigenous values, leadership, and ownership.
“It’s a journey, not a destination,” says Geneviève Bouthillier. “We’re at the beginning of something that has the potential to transform access to capital in Indigenous economies.”
The new $100M fund for Indigenous entrepreneurs signals a new chapter. It reflects a recognition that partnership with Indigenous Nations must move beyond consultation into true co-creation. The initiative brings Indigenous and non-Indigenous leaders together to reimagine what financial inclusion can look like, from equity investments and lending models to shared governance frameworks that uphold Indigenous economic sovereignty.
The work aligns with a growing national movement toward economic reconciliation, where Indigenous Peoples are recognized as full economic actors, not participants at the margins. As Bouthillier explains, “We’ve spent a lot of time listening and understanding. Our role is not to prescribe solutions but to build them together with Indigenous partners.”
Redefining Relationship-Based Capital
BDC Capital’s new $100M fund for Indigenous entrepreneurs builds on the success of the $150 million Indigenous Growth Fund, launched with the National Aboriginal Capital Corporations Association (NACCA), which channels capital through Indigenous Financial Institutions, expanding access to patient and flexible financing designed by and for Indigenous entrepreneurs.
This approach represents more than a financial strategy. It is an example of economic design rooted in trust. The initiative emphasizes relationship-based investing, co-developed financial tools, and Indigenous-led governance. Darian Hirst describes it as “an investment model grounded in relationships, not transactions.” That perspective is reshaping how institutional capital interacts with Indigenous innovation in areas such as renewable energy, housing infrastructure, digital transformation, and clean technology.
Recent coverage in The Globe and Mail, Financial Post, and CBC News has highlighted BDC’s leadership in embedding Indigenous partnership within national investment frameworks. The shift is clear. Indigenous entrepreneurs are increasingly recognized as drivers of Canada’s growth and sustainability transition.
“When we received the email about the nomination,” Bouthillier recalls, “it reminded us that recognition often comes before outcomes. This isn’t about what we’ve finished. It’s about what we’re building. Transformation takes time, patience, and collective effort.”
A Model for Inclusive Growth
BDC Capital’s initiative demonstrates that reconciliation can be a framework for innovation. By reimagining how capital is governed, distributed, and measured, the team is helping shape a national blueprint for inclusive growth. The new $100M fund for Indigenous entrepreneurs does not treat Indigenous participation as corporate responsibility. It treats it as Canada’s economic advantage.
Within the Indigenomics movement, this approach carries deep meaning. The $100-billion target is more than a number. It is a declaration of Indigenous economic presence. BDC Capital’s role as a catalyst in this transformation shows how financial institutions can become active participants in reconciliation through partnership, equity, and shared prosperity.
The initiative is contributing to a broader dialogue about economic measurement that values community outcomes, environmental stewardship, and intergenerational benefit alongside financial return. This mirrors Indigenous worldviews that understand economy as a space of relationship, responsibility, and regeneration.
As Hirst notes, “True partnership means being willing to listen, to evolve, and to let Indigenous leadership define success. That’s how sustainable economies are built.”
Recognition and Vision
Being named to the Indigenomics Ten to Watch list affirms BDC Capital’s leadership in this space. The award celebrates those who embody the principles of Indigenous economic empowerment and demonstrates how collaboration can reshape Canada’s economic future.
As Bouthillier expressed near the end of the interview, “We’re proud to be on this journey. Every conversation, every partnership, every new Indigenous entrepreneur we meet confirms why this work matters. This is the future of Canada’s economy, inclusive, collaborative, and Indigenous led.”
The Path Ahead
The new $100M fund for Indigenous entrepreneurs stands as a model for how capital can act as a bridge between systems, connecting Indigenous values with national investment capacity, linking reconciliation to innovation, and transforming the financial landscape of Canada.
BDC Capital’s inclusion in the Indigenomics Ten to Watch signals that this transformation is well underway. As Indigenous Nations continue to shape their own economic futures, BDC’s work exemplifies how public institutions can evolve alongside them, grounded in respect, built on partnership, and directed toward shared prosperity.