Nyzc told staff Thursday afternoon that he is leaving the Business Development Bank of Canada next month, after more than 22 years at the federal Crown corporation. Chief Financial Officer Christian Settano will lead BDC’s venture capital arm on an interim basis, CEO Isabelle Hudon told staff by email Friday, which The Logic obtained. “A succession plan will follow shortly,” the email reads. (BetaKit, The Logic)

Talking point: Nycz started at BDC in 2002 as director of corporate planning. He has been executive vice-president of BDC Capital since 2013. BDC is the country’s largest and most active venture capital investor, with its business spanning direct investments in startups to seeding other venture capital funds across Canada. As a development bank, BDC is meant to finance under-capitalized entrepreneurs, while also generating returns to the government, its sole shareholder. The government’s mandate review of BDC last year found it should consider taking more risks to “better support equity-deserving groups, underserved regions and sectors, and newer businesses.” Striking a balance between risk and returns has long been a source of tension with BDC.