NOVACAP Closes Fourth Private Equity Fund at $375 Million
May 13, 2014
Leading Montreal-based private equity firm launches Canada’s largest fund dedicated to technology, media and telecommunications
Montreal (Quebec), May 14, 2014 – Montreal-based private equity firm NOVACAP is pleased to announce today it has raised $375 Million to form Canada’s largest private equity fund in the technology, media and telecommunications (TMT) sector. NOVACAP TMT IV is supported by established Canadian and Quebec pension funds, leading financial institutions, banks, and family offices. This new fund aims at financing small and medium-sized companies with high growth potential to help them become world-class leaders.
“After the success and momentum of the Novacap Technologies III fund, we are proud to launch NOVACAP TMT IV, which aims at filling a void in the TMT sector in Canada. In fact, for several years now, TMT has been one of the fastest growing sectors in developed countries. Future portfolio companies will benefit from active support from NOVACAP’s seasoned investment team. Through our deep operational expertise and long-term capital we will assist our portfolio companies as they strive to reach their full potential on provincial, national and international levels, and contribute to Canada’s strong reputation abroad,” said Pascal Tremblay, President of NOVACAP TMT.
Many important financial partners are involved in this unique project, including: Teralys, Caisse de dépôt et placement du Québec, Investissement Québec, Export Development Canada, Business Development Bank of Canada, several Canadian and Quebec pension funds, and many other large investors from the financial sectors.
“We are proud to support and partner with NOVACAP in this new TMT IV fund, said Mr. Jacques Bernier, Managing Partner at Teralys. This fund, with its unprecedented size in Canada was raised in record time, and will enable growth in Quebec’s high potential companies. The importance of this fund and its success clearly demonstrate the dynamism of our industry in Quebec. This partnership is in line with Teralys’ mandate and philosophy that we share with our partners, Investissement Québec, Caisse de dépôt et placement du Québec et le Fonds de solidarité FTQ.”
Novacap is one of Canada's leading private equity firms. Since 1981, its distinct partnership approach based on operational expertise has helped more than 50 companies accelerate their growth and maximize their value. Novacap ranks among the top private equity firms in North America. The results of Novacap I and Novacap II rank Novacap in the first quartile of the funds classified by Thomson Venture Economics. For more information, please consult: www.novacap.ca.