Novacap and Real Ventures are the 2018 recipients of the Canadian Venture Capital & Private Equity Association‘s (CVCA) Deal of the Year awards. Real Ventures won in the venture capital category for its 2017 sale of location-based marketing analytics and automation company SweetIQ to Gannett Co Inc. The exit generated a 66 percent IRR and a 5.6 x cash-on-cash multiple. Novacap won in the private equity category for its 2017 sale of drug discovery software provider Chemical Computing Group to Altaris Capital Partners. The exit generated a 48 percent IRR and a 7.6 x multiple on invested capital. Novacap and Real Ventures are both based in Montréal.
CVCA Announces 2018 Deal Of The Year And Ted Anderson Community Leadership Award Recipients
Novacap Management Incorporated and Real Ventures recognized for outstanding returns in PE and VC respectively; Rob Antoniades, Chair and Co-Founder, The Upside Foundation Of Canada, recognized for leadership with the creation of The Upside Foundation Of Canada.
June 06, 2018
CALGARY, Alberta–(BUSINESS WIRE)–The Canadian Venture Capital & Private Equity Association (CVCA) announced winners of its annual Deal of the Year awards during its 2018 annual conference, Invest Canada ’18 in Calgary. The 2018 CVCA Awards are sponsored by Alberta Enterprise Corporation.
Montreal-headquartered Real Ventures won in the venture capital category for its investment in Montreal-based SweetIQ, while Montreal-based Novacap Management Incorporated won in the private equity category for its investment in Montreal-based Chemical Computing Group. Both deals were selected for outstanding cash realization value, and multiple of invested capital returned.
The CVCA’s Deal of the Year awards are presented annually and promote, highlight and celebrate the achievements of CVCA members who have had outstanding investment successes. The selection process recognizes CVCA members with the most significant investment return realized via an exit from a Canadian portfolio company during the 2017 calendar year.
“Canadian private capital investors are playing an increasingly critical role in our economy,” said Mike Woollatt, Chief Executive Officer, CVCA. “It’s more important than ever that as the industry association we spotlight the accomplishments of our members through our annual awards program.”
The CVCA also announced the winner of the 2018 Ted Anderson Community Leadership Award which honours an individual CVCA member for community involvement. The CVCA is proud to announce Rob Antoniades, Chair and Co-Founder, The Upside Foundation Of Canada, as this year’s recipient.
In addition to supporting Canada’s economic productivity, the Ted Anderson Community Leadership Award recipient also fosters strong corporate social responsibility as a foundation for building solid vibrant communities. The award recognizes the commitment of time and effort to an organization or cause over several years.
2018 Venture Capital Deal of The Year Award
Real Ventures, a Montreal-based venture capital firm that backs world-class entrepreneurs building game-changing companies, originally invested in Montreal-based SweetIQ, a company that delivers industry leading location-based marketing analytics and automation solutions, in October 2011.
SweetIQ co-founders Mohannad El-Barachi and Michael Mire led the company to four straight years of +400% growth and an increase of over 100 employees until it was acquired in April 2017 by ReachLocal, a USA TODAY NETWORK company and a part of Gannett Co., Inc.
The exit generated an internal rate of return of 66 % and provided a 5.6X cash on cash multiple.
“An outcome like this can only be achieved through teamwork,” said Real Ventures Partner, John Stokes. “The founders were always willing to wear whatever hat was needed to move the company forward, the management team put in the extra effort whenever it was required, and our investment partners, especially Plaza Ventures and Desjardins, also played important roles in supporting the company throughout the journey.”
2018 Private Equity Deal of The Year Award
Novacap Management Incorporated, a Montreal-based leading Canadian private equity firm with $2.3B in assets under management, initially acquired Montreal-based Chemical Computing Group (CCG), a software company dedicated to the life sciences, delivering unique and customized software applications for drug discovery to pharmaceutical, biotech and academic researchers, in August 2011.
With the help of Novacap’s network and experience in recruiting key executives, CCG was able to hire new talented executives, solidify an already strong management team and, approached selected acquisition targets with niche products for highly specialized applications.
On April 28, 2017, Novacap sold CCG to Altaris Capital Partners. The exit generated an internal rate of return of 48% and provided a 7.6x multiple on invested capital.
“It has been a real pleasure partnering with Paul Labute, President, CEO, CCG, and his team,” said Pascal Tremblay, President and Managing Partner, Novacap Management Incorporated. “We are really proud that our strategic teamwork is recognized.”
2018 Ted Anderson Community Leadership Award
The CVCA is proud to announce Rob Antoniades, Chair and Co-Founder, The Upside Foundation of Canada, as the recipient of the 2018 Ted Anderson Community Leadership Award for his leadership in the creation of the foundation. The Upside Foundation of Canada a charity, that enables early-stage, high-growth companies to support their community by donating stock options or warrants for the charity of their choice.
Under Rob Antoniades’ stewardship over six years the Upside Foundation has grown to over 200 companies who have pledged to give back through the platform. The Upside Foundation is recognized by venture capitalists and CEOs across the tech industry as an impactful way for startups to give back.
Three Upside Foundation member companies have had exits to-date, resulting in donations to charities in their communities. With many more donations to come, the Upside Foundation is driving a conversation about social responsibility in tech and making it easy for our community to share its wealth with Canadians in need. Ultimately, when a single company wins, the entire country wins alongside them.
Any venture capitalists or startups looking to get involved can email [email protected] to learn about how they can join the movement.
“I am thrilled and gratified to receive this award on behalf of the Upside Foundation,” said Rob Antoniades. “Upside is the only charity founded by VCs to serve the needs of our community by introducing the concept of CSR to our startups, entrepreneurs and portfolio companies. The support of the VC and PE community is appreciated and foundational for Upside’s success and spread of this new best practice for entrepreneurs. We look forward to working with VCs and PEs across the country to enable the community to make a great impact for Canada.”
2018 CVCA Award Media Assets
2018 CVCA Venture Capital Deal Of The Year Award Video
2018 CVCA Private Equity Deal Of The Year Award Video
2018 Ted Anderson Community Leadership Award Video
About the CVCA
The CVCA 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. Please visit: http://www.cvca.ca.
For more information or to arrange an interview, please contact:
Manager, Content and Media
Direct: 416-487-0519, ext. 201
Email: [email protected]
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