CBDC Labrador Inc. has been in operation, in various forms, since 1984. Originally known as Labrador Venture Capital (LVC), CBDC Labrador was responsible for business development under the Labrador Community Futures (LCF) Committee. In August of 1994, LVC and LCF merged to form the incorporated entity of Labrador Community Development Corporation (LCDC). In October 2008, LCDC legally changed its name to CBDC Labrador Inc. to correspond to the operational name and marketing initiatives at the time.

The corporation's primary goal is to encourage employment and entrepreneurial activity throughout Labrador with the provision of investment capital and advisory services. Given the large geographic territory of Labrador, economic activity across the regions may vary. While there are major industrial development projects happening in Labrador there are also regions that are being negatively impacted by highly volatile industry declines, i.e. mining, fishery. These industries are driven by external market forces largely beyond any local control. CBDC Labrador mitigates these risks by closely monitoring investments in any one region or sector and maintaining a diversified investment portfolio.