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Roles and Responsibilities


Each year, the Minister of Economic Development, Job Creation and Trade (the “Minister”) is required to table Venture Ontario’s annual report in the Legislature. In addition, the Minister reviews and approves Venture Ontario’s annual business plan. The Minister also maintains communications with Venture Ontario through its Chair, regarding government policies and issues relevant to Venture Ontario.


The Chair is accountable to the Minister for Venture Ontario’s performance in fulfilling its mandate. The Chair is responsible for providing advice and information to the Minister with regard to Venture Ontario’s operations and affairs. In addition, the Chair provides leadership to Venture Ontario.

Board of Directors

Venture Ontario Board of Directors (the “Board”) is appointed by the Lieutenant Governor in Council and is accountable to the Minister through the Chair. The Board performs a supervisory role, overseeing the management of Venture Ontario’s business and affairs to ensure Venture Ontario’s mandate is fulfilled. The Board is comprised of both public servants employed by the Crown and independent directors.

The Board meets at least quarterly and receives regular reports from the President and Chief Executive Officer and Venture Ontario staff concerning Venture Ontario’s operations and its compliance with applicable laws and policies. Standards of conduct for Venture Ontario Board members are set out in the Board-approved Code of Conduct.

There are also two committees of the Board to assist it in supervising the management of Venture Ontario:

Audit and Risk Committee

The Audit and Risk Committee reviews and recommends approval by the Board of an annual internal audit plan and receives reports from Venture Ontario’s internal auditors and Auditor of Record regarding internal controls and financial reporting. It also reviews financial policies and financial statements and recommends them to the Board. Another function of the Audit and Risk Committee is to review Venture Ontario’s major risks and mitigation strategies.

Human Resources Committee

The Human Resources Committee assists the Board in reviewing the human resources programs and practices of Venture Ontario related to compensation, performance evaluation, and training.

President & Chief Executive Officer

Under the Venture Ontario Act, 2008 (the “Act”), the President and Chief Executive Officer (the “CEO”) is employed under Part III of the Public Service of Ontario Act, 2006 (“PSOA”) and is appointed by the Board. The CEO is accountable to the Board for:

  • Managing and administering Venture Ontario;
  • Supervising Venture Ontario staff; and
  • Carrying out the roles and responsibilities assigned by the Board, the Act and applicable government directives.

The CEO works under the direction of the Chair and the Board to implement policy and operational decisions. The CEO reports Venture Ontario’s performance results to the Board, directly or through the Chair.


All employees of Venture Ontario are civil servants employed under Part III of the PSOA. Venture Ontario’s business operations are carried out by staff under the supervision of the CEO.