VC & PE QUÉBEC MARKET OVERVIEW // Q1 2017 - CVCA · VC & PE QUÉBEC MARKET OVERVIEW // Q1 2017 ......

VC & PE QUÉBEC MARKET OVERVIEW

// Q1 2017NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA

TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.

VENTURE CAPITAL & PRIVATE EQUITY QUÉBEC MARKET OVERVIEW // Q1 2017 | 2

CONTENTS

FOREWORD ...................................................................................................................................... 3 VC & PE ACTIVITY .................................................................................................................................................................... 4 VC & PE ACTIVITY BY ADMINISTRATIVE CENTRE .......................................................................................... 5

VENTURE CAPITAL QUÉBEC MARKET OVERVIEW .........................................................6 QUÉBEC VENTURE CAPITAL HIGHLIGHTS ......................................................................................................... 7

VENTURE CAPITAL HEAT MAP ..................................................................................................................................... 8 QUARTER-OVER-QUARTER VC INVESTMENT IN QUÉBEC ................................................................... 9 VC ACTIVITY BY DEAL SIZE ........................................................................................................................................... 10 VC SECTOR BREAKDOWN ............................................................................................................................................... 11 VC STAGE BREAKDOWN ................................................................................................................................................. 12 TOP 10 DISCLOSED QUÉBEC VC DEALS ............................................................................................................. 13 TOP DISCLOSED VC EXITS .............................................................................................................................................. 14MOST ACTIVE FIRMS IN QUÉBEC ............................................................................................................................. 15

PRIVATE EQUITY QUÉBEC MARKET OVERVIEW ........................................................... 16 QUÉBEC PRIVATE EQUITY HIGHLIGHTS ............................................................................................................. 17

PRIVATE EQUITY HEAT MAP ......................................................................................................................................... 18 QUARTER-OVER-QUARTER INVESTMENT ACTIVITY IN QUÉBEC ................................................. 19 PE ACTIVITY BY DEAL SIZE ........................................................................................................................................... 20 PE SECTOR BREAKDOWN .............................................................................................................................................. 21 TOP DISCLOSED QUÉBEC PE DEALS ..................................................................................................................... 22 TOP PE EXITS IN QUÉBEC ............................................................................................................................................... 23MOST ACTIVE PE INVESTORS IN QUÉBEC ........................................................................................................ 24 CVCA METHODOLOGY .............................................................................................................. 25 VENTURE CAPITAL ............................................................................................................................................................... 25 PRIVATE EQUITY ............................................................................................................................................................ 26, 27

CVCA/RÉSEAU CAPITAL ABOUT & CONTACT .............................................................. 28


FOREWORD

Q1 2017 VC & PE Québec Market Overview: VC experiences robust quarter; PE mirroring slow Canada-wide activity

Québec venture capital (VC) activity in the first quarter of 2017 remained vigorous with $207M invested across 30 deals—a 52 per cent increase over the $136M invested in the same quarter last year. In contrast, private equity (PE) in Québec is following the same downward Canadian trend—PE dollars invested in Québec dropped 47 per cent to $660M from Q1 2016.

In Q1 2017, Québec VC captured 31 per cent of the total number of Canadian VC deals (30 out of 98) and 23 per cent of the total Canadian VC dollars invested ($207M out of $905M). Of the venture capital invested, $150M was directed to seed and early stage companies, with just under a third ($56M) going to later stage companies.

The average deal size in Québec VC increased to $6.9M, up 17 per cent from the $5.9M in 2016. There was one single mega-deal in the $50M+ range: the $53M series C financing for Montréal-based Breather Products. The round was financed by a syndicate of US investors.

There were 12 deals in ICT companies which accounted for 62 per cent of all VC dollars disbursed in Québec. Agribusiness companies came in second place, with 19 per cent of all venture capital invested across three deals.

Noteworthy exits in the first quarter included the $133M acquisition of Saint-Laurent-based Accedian Networks and the Airbnb acquisition of Montréal-based Luxury Retreats International for an undisclosed amount.

In Q1 2017, Québec PE captured 58 per cent of the total number of Canadian PE deals (61 out of 105) and 24 per cent of the total Canadian dollars invested ($660M our of $2.8B). The average deal size was $10.8M, which is only two per cent lower than the average 2016 deal size of $11M.

Similar to VC, ICT companies were the largest recipient of PE dollars in Québec in Q1 at 27 per cent. The mining and resource sector ranking second at 25 per cent, with agri-forestry locking in the third position at 20 per cent.

Nine deals between $25M and $100M saw the largest share of total PE dollars invested in Québec at 58 per cent. The largest disclosed deal was $50M in this category—the financing of Falco Resources in Nord-du-Québec/ Abitibi-Témiscamingue by a group of investors which included Capital régional et coopératif Desjardins, Fonds de solidarité FTQ, Haywood Securities Incorporated and Investissement Québec.

Québec Q1 2017 venture capital and private equity deals led by investments in ICT


VC & PE ACTIVITY // Q1 2017

91 dealstotal #

61deals

30deals

$867Mtotalinvested

$660M

$207M

Private Equity Venture Capital


Laurentides

Outaouais

Nord-du-Québec /Abitibi-Témiscamingue

Laval

31

10

1

4

Montréal

1522

Montérégie

7

Lanaudière

3

Estrie

23

Centre-du-Québec

32

Québec

11Chaudière-Appalaches

3

Saguenay-Lac-St-Jean /Côte-Nord

31 Bas-Saint-Laurent

5

Gaspésie/Îles-de-la-Madeleine

1

VC & PE ACTIVITY BY ADMINISTRATIVE CENTRE // Q1 2017

montréal

37 DEALSmost active region

total #

Private Equity

Venture Capital


VENTURE CAPITAL QUÉBEC MARKET OVERVIEW




QUÉBEC VENTURE CAPITAL HIGHLIGHTS // Q1 2017

Key Findings:

VC activity in the first quarter remained robust with $207M invested across 30 deals—a 52% increase over the $136M invested in the same quarter last year.

Quebec captured 31% of the total number of VC deals (30 out of 98) and 23% of the dollars invested ($207M out of $905M).

Average deal size increased to $6.9M, up 17% from the $5.9M in 2016.

The single mega-deal ($50M+) was the $53M series C financing of Montreal-based Breather Products from a syndicate of existing investors which included Real Ventures.

There were 12 deals in ICT companies which accounted for 62% of all dollars disbursed, followed by agribusiness companies which received 19% of dollars over 3 deals.

Almost two thirds of dollars ($135M) was directed to early-stage companies with just under a third ($56M) going to later-stage companies.

Notable exits included the $133M acquisition of Saint-Laurent based Accedian Networks and the Airbnb acquisition of Montreal-based Luxury Retreats International for an undisclosed amount.


30214

$429M

$5M

$2M

NA $207M

$254MOntario

BC $8MAlberta

New BrunswickManitobaQuébec

Nova Scotia

$1M

Newfoundland and Labrador

$0.1MSaskatchewan

1137

1

1

1

1

$905mtotal98 dealstotal #

VENTURE CAPITAL HEAT MAP // Q1 2017


0

10

20

30

40

50

60

70

80

$0

$50

$100

$150

$200

$250

$300

$350

$400

$450

Q2Q1 Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1 Q3

$13

4

$8

4

$6

6 $30

$72

$16

8

$73

$6

1

$19

2

$22

7

$21

7

$13

6

$20

7

$37

7

15

29

2118

28

27

34

22

3839

61

3329

56

$23

50

$26

8

Q4

$20

2

32 30

QUARTER-OVER-QUARTER VC INVESTMENT IN QUÉBEC

TOTAL:83 DEALS

$307M

TOTAL:111 DEALS

$344M

TOTAL:171 DEALS

$697M

TOTAL:167 DEALS

$984M

$ Millions Invested

# Deals

2013 2014 2015 2016 2017

NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.


Total Deals $ Millions

< $100K

$100 - $500K

$500K - $1M

$1M - $5M

$5M - $20M

$20M - $50M

$50M +

0

6

6

10

5

2

1

$0

$1

$4

$23

$44

$81

$53

VC ACTIVITY BY DEAL SIZE // Q1 2017 Mid-size deals capture

largest share of dollars invested


ICT Life Sciences CleanTech Agri-Business

0

10

20

30

40

50

60

70

80

100

90

$0

$60

$120

$180

$240

$300

$360

$420

$480

$540

$600

2016201520142013 20142013 201320162015 20152014 201420132016 20162015

$11

8

$18

8

$52

$31

7

$45

4

Q12017

Q12017

Q12017

Q12017

$12

8

$31

5

$6

7

$28

8

$48

$29

$29

$6

1

$97

$6

2

$20

$30

$40

$7$8

1210

75

9

33

9

16

10

6

41

32

1911

12

90

85

64

50

VC SECTOR BREAKDOWN // 2013-Q1 2017 $ Millions Invested

# Deals

NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST

PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.


VC STAGE BREAKDOWN // 2013-Q1 2017

Seed Early Stage Later Stage

0

10

20

30

40

50

60

70

80

100

90

$0

$60

$120

$180

$240

$300

$360

$420

$480

$540

$600

2016201520142013 2016201520142013 2016201520142013

16 $

108

$

184

$

41 $

173

$

129

$

27 $

358

$

296

$

39 $

T12017

T12017

T12017

16 $

414

$

135

$

531

$

29

36

45

35

11

31

48

73

100

21

16

27

49

32

3

56 $

$ Millions Invested

# Deals

NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST

PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.


TOP 10 DISCLOSED QUÉBEC VC DEALS // Q1 2017

COMPANY NAME ADMIN. CENTRE SECTOR DISCLOSED INVESTORS $ MIL.

BREATHER PRODUCTS INC. MONTRÉAL ICT MENLO VENTURES, RRE VENTURES, SLOW VENTURES, VALAR VENTURES MANAGEMENT LLC $53

INOCUCOR TECHNOLOGIES INC. MONTRÉAL AGRIBUSINESS CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS, CLOSED LOOP CAPITAL, CYCLE CAPITAL MANAGEMENT (CCM), TPG CAPITAL LP $39

WORKJAM INC. MONTRÉAL ICT BLUMBERG CAPITAL, FOUNDER COLLECTIVE, LERER HIPPEAU VENTURES $12

AIREX ENERGY INC. LAVAL CLEANTECH CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS, CYCLE CAPITAL MANAGEMENT (CCM), CDN PRIVATE INVESTORS $7

CMLABS SIMULATIONS INC. MONTRÉAL ICT CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS, VCIC/EMERILLON CAPITAL $5


TOP DISCLOSED VC EXITS // Q1 2017

VC INVESTORS COMPANY SECTOR EXIT TRANSACTION ACQUIRED BY $ MIL.

FONDS DE SOLIDARITÉ FTQ, RHO CANADA VENTURES, SUMMIT PARTNERS, SKYPOINT CAPITAL CORPORATION ACCEDIAN NETWORKS INC. ICT M&A BRIDGE GROWTH

PARTNERS $133

CLARIDGE, INOVIA CAPITAL, GROUPE DYNAMITE, TERALYS CAPITAL, INTERMEDIA PARTNERS

LUXURY RETREATS INTERNATIONAL INC. ICT M&A AIRBNB NA


$66

$58

$103

Total Deals $ Millions*

Capital régional et coopératif Desjardins

BDC Capital Inc.

500 Startups

Real Ventures

13

7

4

4

$1

MOST ACTIVE FIRMS IN QUÉBEC// Q1 2017

* TOTAL DEAL VALUES - INCLUDES ALL PARTICIPATING INVESTORS

Capital régional et coopératif Desjardins

13 DEALSmost active FIRM


PRIVATE EQUITY QUÉBEC MARKET OVERVIEW




PRIVATE EQUITY HIGHLIGHTS // Q1 2017

Key Findings:

Following the same downward trend as the rest of Canada, the dollar amount of PE investment in Quebec dropped 47% to $660M from the same time last year.

Quebec captured 58% of the total number of PE deals (61 out of 105) and 24% of the total dollars invested ($660M out of $2.8B).

The average deal size was $10.8M, only 2% lower than the average 2016 deal size of $11M.

Deals between $25M-$100M garnered the largest share (58%) of total dollars invested; this was comprised of 9 deals, 5 of which were undisclosed. The largest of the disclosed deal in this category was the $50M financing of Falco Resources in Nord-du-Québec/Abitibi-Témis by a syndicate which included Capital Régional et Coopératif Desjardins, Fonds de solidarité FTQ, Haywood Securities Inc., and Investissement Québec.

ICT companies were the recipient of 27% of all PE dollars, followed by the mining and resource sector (25%) and agri-forestry (20%).


61136

6 3

$315m$588m

$660m$494mOntario

BCAlberta

Saskatchewan

Québec

$3m

$723mManitoba

1

NANova Scotia

15

$2.8btotal105 dealstotal #

PRIVATE EQUITY HEAT MAP // Q1 2017


$0

$500

$1,000

$1,500

$2,000

$2,500

0

20

40

60

80

100

Q2Q1 Q1Q4Q3Q2Q1Q4Q3Q2Q1Q4Q3Q2Q1

$42

$1,

458

$15

4

$1,

141

$1,

917

$1,

843

$9

01

$1,

729

$26

7

$2,

556

$9

05

$1,

255

$9

13

12

25 21 20 25

28

2530

49

4551

8791

Q3

85

$6

05

$1,

040

$6

60

83

61

Q4

$8

4

8

TOTAL:66 DEALS

$1.7B

TOTAL:98 DEALS

$5.8B

TOTAL:175 DEALS

$5.5B

TOTAL:346 DEALS

$3.8B

$ Millions Invested

# Deals

2013 2014 2015 2016 2017

QUARTER-OVER-QUARTER INVESTMENT ACTIVITY IN QUÉBEC

NOTE: THIS IS THE FIRST YEAR THAT THE RÉSEAU CAPITAL IS PARTNERING WITH CVCA TO PRODUCE VC AND PE STATISTICS FOR QUÉBEC. THUS, DATA COMPARISONS AGAINST PREVIOUS YEARS MAY NOT BE CONSISTENT WITH RÉSEAU CAPITAL’S HISTORICAL REPORTS.


Total Deals $ Millions

< $100K

$100 - $500K

$500K - $1M

$1M - $5M

$5M - $25M

$25M - $100M

$100M - $500M

1

10

13

17

8

9

1

$0.1

$3

$8

$33

$97

$385

$133

Mid-size deals capture

the largest share of VC dollars

PE ACTIVITY BY DEAL SIZE // Q1 2017


PE SECTOR BREAKDOWN // Q1 2017

$1

$1

$1

$7

$131

$39

$175

$164

$11318

11

9

9

4

3

2

2

1

1

1

0

0

# Deals $ Millions

Industrial & Manufacturing

Mining & Resources

ICT

Consumer & Retail

Agri-Forestry

Business Products & Services

Financial

Life Sciences

CleanTech

Automotive & Transportation

Others

Oil & Gas, Power

Real Estate

$28

$0

18 deals

most active sector

Industrial & Manufacturing


TOP DISCLOSED QUÉBEC PE DEALS // Q1 2017

COMPANY NAME ADMIN. CENTRE DISCLOSED INVESTORS INVOLVED IN TRANSACTION SECTOR $ MIL.

ACCEDIAN NETWORKS INC. MONTRÉAL BRIDGE GROWTH PARTNERS LLC, FONDS DE SOLIDARITÉ FTQ, RHO CANADA VENTURES, SKYPOINT CAPITAL CORPORATION, SUMMIT PARTNERS ICT $133

FALCO RESOURCES LTD. NORD-DU-QUÉBEC / ABITIBI-TÉMIS

CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS, FONDS DE SOLIDARITÉ FTQ, HAYWOOD SECURITIES INC., INVESTISSEMENT QUÉBEC MINING & RESOURCES $50

GROUPE NORBEC INC. MONTÉRÉGIE BDC CAPITAL INC., CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS, SCOTIABANK BANK OF NOVA SCOTIA

INDUSTRIAL & MANUFACTURING $39

EDDYFI NDT INC. QUÉBEC CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC (CDPQ) INDUSTRIAL & MANUFACTURING $37

HIGHLAND COPPER COMPANY MONTÉRÉGIE GREENSTONE MANAGEMENT LTD., ORION RESOURCE PARTNERS (USA) LP MINING & RESOURCES $30

TELECON GROUP MONTRÉAL CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC, CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS ICT $20

GROUPE RESTOS PLAISIRS INC. (LE) CENTRE-DU- QUÉBEC CAPITAL RÉGIONAL ET COOPÉRATIF DESJARDINS, CDN PE INVESTORS ICT $18

G.C.L. ÉQUIPEMENTS INC. MONTRÉAL FONDACTION CSN INDUSTRIAL & MANUFACTURING $13


TOP PE EXITS IN QUÉBEC// Q1 2017

from Québec-based companies

21 undisclosed exits


MOST ACTIVE PE INVESTORS IN QUÉBEC // Q1 2017

* TOTAL DEAL VALUES – INCLUDES ALL PARTICIPATING INVESTORS

27

17

9

8

6

3

2

# Deals $ Millions*

Fonds de solidarité FTQ

Capital Régional et Coopératif Desjardins

Fondaction CSN

Investissement Québec

Caisse de dépôt et placement du Québec (CDPQ)

BDC Capital Inc.

Scotiabank Bank of Nova Scotia

$151

$437

$23

$147

$64

$40

$77 most active PE investor

27 DEALSFonds de solidarité FTQ


CVCA METHODOLOGY // VENTURE CAPITAL

Venture Capital Data:

Verified completed equity or quasi-equity venture capital deals only (non-equity or project-based government funding, pharmaceutical development deals, senior debt, venture capital-backed acquisitions, and angel financing are not included)

VC DEVELOPMENT STAGES

SEED STAGE COMPANY HAS A CONCEPT OR PRODUCT UNDER DEVELOPMENT, BUT IS PROBABLY NOT FULLY OPERATIONAL.

EARLY STAGE COMPANY HAS A PRODUCT OR SERVICE IN TESTING OR PILOT PRODUCTION. IN SOME CASES, THE PRODUCT MAY BE COMMERCIALLY AVAILABLE.

LATER STAGE PRODUCT OR SERVICE IN PRODUCTION AND COMMERCIALLY AVAILABLE. COMPANY IS GENERATING ON-GOING REVENUE, BUT NOT NECESSARILY, PROFITABLE.

VC SECTORS

ICT COMPUTER HARDWARE AND SOFTWARE AND SERVICES, INTERNET SOFTWARE OR SERVICES, ECOMMERCE, ELECTRONIC & SEMICONDUCTOR, MOBILE AND TELECOM TECHNOLOGIES AND SERVICES

LIFE SCIENCES BIOTECH, MEDICAL DEVICES, PHARMACEUTICALS, EHEALTH, HEALTHCARE PRODUCTS AND SERVICES, AND OTHER MEDICAL RELATED PRODUCTS AND SERVICES

CLEANTECH ENERGY AND FUEL TECHNOLOGIES, EFFICIENCY AND CONSERVATION, RENEWAL ENERGY, ENVIRONMENTAL TECHNOLOGIES AND OTHER ENERGY AND ENVIRONMENTAL PRODUCTS AND SERVICES

AGRIBUSINESS TRADITIONAL AND ADVANCED AGRICULTURAL TECHNOLOGIES AND SERVICES

QUÉBEC ADMINISTRATIVE REGIONS

NORD-DU-QUÉBEC / ABITIBI-TÉMISCAMINGUE

OUTAOUAIS

LAURENTIDES

LAVAL

MONTRÉAL

MONTÉRÉGIE

LANAUDIÈRE

MAURICIE

ESTRIE

CENTRE-DU-QUÉBEC

QUÉBEC

CHAUDIÈRE-APPALACHES

SAGUENAY-LAC-ST-JEAN/ CÔTE-NORD

BAS-SAINT-LAURENT

GASPÉSIE/ÎLES-DE-LA-MADELEINE


CVCA METHODOLOGY // PRIVATE EQUITY

Private Equity Data:

Dataset includes only completed private equity deals (announced but yet to be completed deals are not included)

PE DEAL TYPE

BUYOUT INVESTMENT FOR THE CONTROL OF A PORTFOLIO COMPANY, INCLUDING PLATFORM CREATION, SECONDARY BUYOUT

GROWTH SIGNIFICANT MINORITY INVESTMENT INTO A PORTFOLIO COMPANY, THROUGH NEW CAPITAL INFUSION AND RECAPITALIZATION

ADD-ON CORPORATE ACQUISITIONS BY MAJORITY CONTROLLED PE BACKED PORTFOLIO COMPANIES

DEBT DEBT INVESTMENT INTO PORTFOLIO COMPANIES

INFRASTRUCTURE INVESTMENTS INTO DEVELOPMENT AND MANAGEMENT OF INFRASTRUCTURE ASSETS BUT PE DOES NOT OWN THE UNDERLYING ASSETS

continued

QUÉBEC ADMINISTRATIVE REGIONS

NORD-DU-QUÉBEC / ABITIBI-TÉMISCAMINGUE

OUTAOUAIS

LAURENTIDES

LAVAL

MONTRÉAL

MONTÉRÉGIE

LANAUDIÈRE

MAURICIE

ESTRIE

CENTRE-DU-QUÉBEC

QUÉBEC

CHAUDIÈRE-APPALACHES

SAGUENAY-LAC-ST-JEAN/ CÔTE-NORD

BAS-SAINT-LAURENT

GASPÉSIE/ÎLES-DE-LA-MADELEINE


CVCA METHODOLOGY // PRIVATE EQUITY

PE SECTORS

AGRI-FORESTRY AGRICULTURE, FOODS AND FORESTRY

AUTOMOTIVE & TRANSPORTATION TRANSPORTATION, LOGISTICS AND RELATED SERVICES

BUSINESS PRODUCTS & SERVICES BUSINESS PRODUCTS AND SERVICES

CLEANTECH ENERGY AND FUEL TECHNOLOGIES, EFFICIENCY AND CONSERVATION, RENEWAL ENERGY, ENVIRONMENTAL TECHNOLOGIES AND OTHER ENERGY AND ENVIRONMENTAL PRODUCTS AND SERVICES

CONSUMER & RETAIL CONSUMER PRODUCTS AND SERVICES, BRICK AND MORTAR RETAIL

FINANCIAL FINANCIAL SERVICES

ICT COMPUTER HARDWARE/SOFTWARE & SERVICES, INTERNET SOFTWARE & SERVICES, ECOMMERCE, ELECTRONIC & SEMICONDUCTOR, MOBILE & TELECOM AND SERVICES

INDUSTRIAL & MANUFACTURING EQUIPMENT AND MATERIAL MANUFACTURING

LIFE SCIENCES BIOTECH, MEDICAL DEVICES, PHARMACEUTICALS, EHEALTH, HEALTHCARE PRODUCTS AND SERVICES, AND OTHER MEDICAL RELATED PRODUCTS AND SERVICES

MINING & RESOURCES NON OIL AND GAS NATURAL RESOURCES

OIL & GAS, POWER OIL & GAS, POWER AND UTILITIES

REAL ESTATE PROPERTY DEVELOPMENT AND MANAGEMENT

continued


CVCA/RÉSEAU CAPITAL ABOUT & CONTACT

AuthorsDarrell oversees all data related to Canadian private capital investments, exit and fundraising activities for the CVCA. Darrell has held senior positions at several global organizations including the Toronto Stock Exchange, Institutional Limited Partners Association, Thomson Reuters, Glaxosmithkline and the Interac Association. In between these, he also started his own successful management consulting company. He has worked in New York, London and Shanghai, but Toronto remains his favourite working city. He brings to the CVCA a passion for telling compelling stories with data. Darrell is currently on the board of a non-profit social housing in Peel, a member of Volunteer Toronto as well as an active volunteer with Woodgreen Community Services. He holds a BA in Philosophy/History from the University of Western Ontario and an MBA from the Rotman School of Management.

[email protected] | 416-487-0519 ext. 208

David executes research on venture capital and private equity deals within Canada. David is responsible for monitoring industry activity and maintaining the CVCA’s Infobase by entering data, including investments, exits, deals and fundraising activities on a daily basis. David holds a BA in Philosophy and Psy-chology from the University of Toronto.

[email protected] | 416-487-0519 ext. 202

DARRELL PINTOResearch Director

DAVID KORNACKI Research Analyst

About CVCAThe Canadian Venture Capital and Private Equity Association is the voice of Canada’s venture capital and private equity industry. We are focused on improving the private capital ecosystem by broadening industry awareness and providing market research, networking, and professional development opportunities.

We also advocate on behalf of the industry to ensure sound public policy that encourages a favourable investment environment. The CVCA works alongside its members, who represent the vast majority of private capital firms in Canada, to improve the industry and drive innovation and growth.

For more information, visit cvca.ca

@CVCACanada /CVCACanada

CVCA - Canadian Venture Capital and Private Equity Association

372 Bay St., Suite 1201 Toronto, ON M5H 2W9

About Réseau CapitalRéseau Capital, the Québec Venture Capital and Private Equity Association, is the only private equity association that brings together all stakeholders involved in the Québec investment chain. The mission of Réseau Capital is to contribute to the development and efficient operation of the private equity industry, which plays a major role in the development and financing of businesses in Québec.

Founded in 1989, Réseau Capital represents private equity, tax-advantaged and public investment companies as well as banks, accounting and law firms, along with many professionals working in the field.

To arrange for an interview, please contact:Catherine Berbery | 514-880-2372 | [email protected]

For more information, visit reseaucapital.com

@reseaucapital Réseau Capital

Espace CDPQ – 3 Place Ville-Marie, suite 12350, Level L, Montréal, QC H3B 0E7

To obtain estimates for additional custom InfoBase data reports please contact [email protected]

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