The New Brunswick Innovation Foundation (NBIF) has appointed Daniel Armali as Vice President of Investments, effective immediately

Armali joins NBIF after relocating from Montreal and brings more than 15 years of experience in venture capital, fund investment, and multi-asset portfolio management. He will lead NBIF’s investment team and work with startups, portfolio companies, and limited partners to advance the organization’s mandate of supporting the growth of New Brunswick’s innovation economy.

“This is an important new role for NBIF and Daniel’s reputation and character make him a tremendous addition to our leadership team,” said NBIF Chief Executive Jeff White in a statement. “He brings extensive experience across public and private markets, including direct and limited partner investment, as well as the creation and raising of private venture capital funds. His insight and collaborative approach will bring real value to our founders and investors and take our NBIF investment strategy to the next level.”

A CFA charterholder with an MBA, Armali has held senior roles in both public and private markets. He previously served as a partner at a venture capital impact firm, at BDC Capital where he managed $850 million in fund investments and oversaw a portfolio of 22 venture funds, and at the Bank of Canada where he worked on its internal pension fund’s multi-asset portfolio.

“NBIF has built a strong engine for translating innovation into growth,” said Armali. “I’m excited to work with founders, investors, and the NBIF team to build on that energy and shape a future economy defined by innovation and strong returns for the province.”

NBIF is an independent, pre-seed and seed-stage venture capital organization that invests in the creation and growth of New Brunswick technology companies, funds complementary venture capital firms, and supports local accelerators and incubators.