Nouvelles et évènements
Propulsion Ventures and Novacap
are winners of CVCA's 'Deal of the Year' Awards
September 22, 2005
TORONTO: Canada's Venture Capital & Private Equity Association (CVCA) is pleased to announce that Propulsion Ventures is the recipient of the CVCA's 2005 'Deal of the Year Award' for the venture capital category and Novacap is the recipient of the CVCA's 2005 'Deal of the Year Award' for the private equity category.
Established in 1998, the purpose of CVCA's 'Deal of the Year Award' competition is to promote, highlight and celebrate the achievements of Canadian companies backed by CVCA members. The selection process focuses on firms with the most significant return during the last twelve months ending June 30, 2005. This year the CVCA has created two awards, one for the venture capital category and the private equity category.
Venture Capital Category Winner
“It is my pleasure to announce that Propulsion Ventures won this years' venture capital category award for its investment in Airbourne Entertainment.”, said Claude Haw, Chairman of CVCA's Deal of the Year Committee and General Partner, Skypoint Capital, “The investments in November 2000, March 2001 and July 2001 generated an internal rate of return (IRR) of 61% and a cash-on-cash multiple of 7.4 times investment.”
François Gaouette, Managing Partner, of Propulsion Ventures of Montreal, accepted the honour at the CVCA's AGM Dinner in Toronto on Thursday, September 22, 2005. “Airborne is a great example of a Canadian start-up created by two entrepreneurs with the vision and commitment to rapidly establish the company as a leader in North America.”, said Mr. Gaouette, “We are proud to be associated with such outstanding individuals”.
Founded in 2000, Airborne Entertainment is a dynamic publisher of top-flight branded mobile entertainment which brings world-famous brands like A&E, Berlitz, HBO, The History Channel, the NHL and MAXIM Magazine to the mobile marketplace through its vast distribution network.
PROPULSION VENTURES INC., is a leading Canadian venture capital firm dedicated to the software industry. It encourages outstanding entrepreneurs in creating exciting companies in new emerging industries. Since 1995, Propulsion has contributed extensive operational, strategic and financial expertise together with a broad network of relationships to the development and success of its portfolio companies.
Private Equity Category Winner
“It is my pleasure to announce that Novacap won this years' private equity category award for its investment in Santé Naturelle A. G. Ltée.”, said Claude Haw, “The investment in January 2003 generated over $30 million, an internal rate of return of 122% and a cash-on-cash multiple of 10.1 times investment.”
François Chaurette, Vice-President of Novacap, accepted the honour at the CVCA's AGM Dinner in Toronto on Thursday, September 22, 2005. “We are thrilled to be the recipient of this award; it is the second time Novacap has won.” said François Chaurette.
Santé Naturelle (A.G.) Ltée was founded in 1946 and enjoys a strong reputation within its principal markets. In the province of Quebec, Santé Naturelle (A.G.) Ltée is the corporate leader of the natural Health Products category.
NOVACAP is a leading private equity and venture capital group that was established in 1981. Novacap manages over $250 million in capital. Its mission is to build world-class companies, companies that can dominate a market niche and compete successfully anywhere in the world.
Félicitations à nos deux gagnants. Leur expérience démontre clairement qu'il y a de beaux profits dans la belle province. (Translation : Congratulations to our two winners...whose experience shows that there are fine profits in the fine province of Québec!)
About CVCA
The CVCA - Canada's Venture Capital & Private Equity Association was founded in 1974 represents Canada's venture capital and private equity industry. Its over 1000 members are firms and organizations which manage the majority of Canada's pools of capital designated to be committed to venture capital and private equity investments. The CVCA fosters professional development, networking, communication, research and education within the venture capital and private equity sector and represents the industry in tax and regulatory matters.
Contacts:
Lauren Linton, Director of Marketing, CVCA, 416 487-4299
Claude Haw, General Partner, Skypoint Capital Corporation (613) 271-1500 ext. 228
