Lettre d'information

December 2011
Dear Limited Partners, I am pleased to inform you that effective today, Pascal Tremblay has been appointed as President, Managing Partner of Novacap Technologies III. As you know, Pascal joined Novacap 8 years ago. More...

December 2010
Of all the various phases in any given M&A transaction, perhaps to most perplexing one for entrepreneurs is due-diligence. Let me try to shed some light on it. More...

May 2010
Over the course of my career I have met with thousands of CEOs and invested in several dozens of them. I have noticed that while all are quite different from each other, the successful ones share many basic qualities, each one equally vital to ultimate success. More...

January 2010
In the fall of 2008, the world changed dramatically with the emergence of the worst credit crisis in recent history. A lot has been written on this crisis but little has been done. Against their will, most businesses, entrepreneurs, lenders and investors found themselves either in the heat of the fire or on the sidelines. More...

November 2009
In these challenging economic times, with softer demand, excess capacity and squeezed margins for everyone, I believe that satisfying current customers has never been more important. Here's why. More...

July 2009
When I left the office for my summer vacation, one of the items on my “To Do” list was to write an article for this quarterly newsletter. I knew I wanted to touch on the subject of short versus long term investing, but I needed an angle. Sifting through newspaper articles on the way to the beach, I found it. In the July 6th edition of La Presse, a Montreal newspaper, Francis Vallières wrote an article which addressed investment as well as CEO salaries. The article described a startling change in investor behavior that over the last 40 years has mirrored society's change to a culture of instant gratification. More...

May 2009
At various points in time, certain thoughts about the market went undisputed: the price of tulips will appreciate, railroads will crisscross every square mile of America, everyone will require gigabytes of Internet bandwidth, and, most recently, house prices will always go up. God only knows what the next one will be about, but something is for sure: unanimity about some trend will surface again. Most bubbles are spaced roughly a generation apart, for reasons that any parent with twenty-year-old children can clearly understand! More...

January 2009
These are challenging times. As my colleague and partner Marc Beauchamp commented on the editorial page last November, “the global economic downturn is now in full swing, with no sign of a turnaround in the near future”. During these challenging times where economic recession and financial crisis are intermingled, certain golden rules need to be followed. More...

November 2008
Interesting times. The global economic downturn is now in full swing, with no sign of a turnaround in the foreseeable future. As with all major economic changes, this one cuts both ways. More...

August 2008
It is my pleasure to welcome you to Novacap's very first newsletter. Our goal is to help you stay up to date with the latest news concerning us and our portfolio companies. More...