CVCA Announces Winners of the 2025 Canadian Women in Private Capital Awards

TORONTO, ON – February 18, 2025 – The Canadian Venture Capital and Private Equity Association (CVCA) is pleased to announce the winners of the third Canadian Women in Private Capital Awards. Introduced in 2023, these awards honour the achievements of women who have made significant contributions to the success and growth of the Canadian private capital industry.

This year’s winners will be recognized at a sold-out breakfast event on February 26, held in celebration of International Women’s Day. Since its inception, this event has rapidly become a cornerstone gathering for Canada’s private capital industry, providing a platform to celebrate leadership, recognize excellence, and engage in critical discussions about the state and future of the industry. Sponsored by CIBC Innovation Banking, the event underscores the private capital industry’s commitment to leadership, diversity, and inclusion as a proven driver of superior business outcomes.

The 2025 program will feature a panel discussion following the awards ceremony, where this year’s honourees will share insights on navigating shifting market dynamics, investment strategies for the year ahead, and the evolving role of private capital in Canada’s economic landscape.

CVCA’s Woman of Achievement Award

The Woman of Achievement Award recognizes outstanding Canadian General Partners (GPs) who have made a lasting impact on the private capital industry. The winners have demonstrated exceptional leadership, driven innovation, and contributed meaningfully to improving gender diversity within the industry and beyond.

• Marie-Claude Boisvert, Partner, Head of Private Equity Canada, Sagard – Winner of the 2025 Woman of Achievement Award for Private Equity. Marie-Claude has played a pivotal role in shaping the private equity landscape in Canada. As the leader of the country’s largest female-led traditional buyout fund, she has set new benchmarks in value creation and industry innovation. Additionally, through her work with Reseau Capital’s Elle-Invest and the Lise Watier Foundation, she has championed programs that empower women in private capital and entrepreneurship.
• Michelle McBane, Managing Director, StandUp Ventures – Winner of the 2025 Woman of Achievement Award for Venture Capital. McBane’s leadership in venture capital has transformed the funding landscape for women-led businesses. Since launching StandUp Ventures, she has raised 2 funds, backing some of Canada’s most promising early-stage companies. Her efforts have directly contributed to greater gender diversity in VC-backed startups. She is also an active mentor and industry advocate, serving on the CVCA Diversity & Inclusion Committee, and advancing inclusive investment strategies that have gained national recognition.

CVCA’s Rising Woman Star Award

The Rising Woman Star Award recognizes high-achieving individuals who have made significant business contributions, demonstrated outstanding leadership, and have shown clear ambition for advancement into senior roles within Canadian private capital.

• Kristen Floro, Senior Associate, Origination, Fengate Asset Management – Winner of the 2025 PE Rising Woman Star Award. Floro has been instrumental in transforming Fengate’s private equity strategy, leading the firm’s transition to a sector-focused investment model. She has played a critical role in developing investment theses, expanding deal flow by over 40%, and implementing ESG-focused initiatives, including contributions to Fengate’s annual Sustainability Report. A champion for gender diversity, she led efforts to hire more women into private equity roles and has been an active member of Fengate’s Equity, Belonging, Inclusion, and Diversity (EBID) Think Tank.
• Ha Nguyen, Partner, McRock Capital – Winner of the 2025 VC Rising Woman Star Award. Nguyen has demonstrated exceptional leadership in venture capital, spearheading McRock’s Industrial Software Index, a first-of-its-kind tool tracking global industrial software companies. She has played a key role in fundraising, investment leadership, and portfolio company growth, overseeing major deals including Landing AI and Samdesk. As a co-founder of Alberta Female Founders, Funders & Fortifiers (ABF4) and Migr8, Nguyen has worked to remove barriers for women and immigrant entrepreneurs, fostering a more inclusive Canadian tech ecosystem.

“This year’s winners exemplify the excellence, strategic foresight, and leadership that drive Canada’s private capital industry forward,” said Kim Furlong, Chief Executive Officer, CVCA. “Their achievements are not just individual milestones—they are a testament to the industry’s strength. By recognizing these leaders today, we are also building a stronger pipeline for the next generation, ensuring that the best talent continues to shape the future of private capital in Canada.”

“These awards recognize the outstanding contributions of women who are not only shaping the future of private capital but also redefining leadership in our industry,” said Jeannette Wiltse, Chair & Board Member, CVCA; Partner & Chief Financial Officer, Relay Ventures; Chief Financial Officer, Alate Partners. “We hope their achievements inspire the next generation of women to pursue and thrive in private capital.”

The CVCA is dedicated to recognizing and celebrating the outstanding achievements of its members, both through individual excellence and collective contributions to the private capital community. Whether through industry leadership, investment success, or meaningful community impact, CVCA’s awards programs shine a spotlight on those driving the industry forward. This commitment will be showcased at Invest Canada ‘25, taking place May 27-29 at the Calgary TELUS Convention Centre, where we will continue to recognize and celebrate these achievements on stage, bringing the industry together to share insights and shape the future of private capital in Canada. Learn more about the event here.