- CBGF has made a minority investment in Beliececo:Partners
- Believeco:Partners serves mid-market North American clients with digital marketing, social media, public relations and affairs, content and production, media services, strategy and research
- Brightworks founder Neil Follett has been appointed CEO
Canadian Business Growth Fund (CBGF) announced it has made a minority equity investment to support the creation of Believeco:Partners. No financial terms were disclosed.
Calgary-based Believeco:Partners reflects the combination of six independent agencies: Venture Play, Argyle, Brightworks, Zync, Revolve and Castlemain. It serves mid-market North American clients with digital marketing, social media, public relations and affairs, content and production, media services, strategy and research.
The company plans to acquire more companies, according to CBGF.
“We always look for ambition in the entrepreneurs we invest in,” said George Rossolatos, CEO of CBGF, in a statement. “Believeco:Partners not only has an impressive and experienced business at launch, they have an innovative plan to scale independents and create value – for clients and for Canadian business as a whole.”
Believeco:Partners brings together more than 300 professionals, across seven offices in two countries. Brightworks founder Neil Follett has been appointed CEO, and Daniel Tisch continues as CEO of Argyle. They join Arlene Dickinson (who acts as executive chair) as co-managing partners.
CBGF provides minority capital to fund the expansion of mid-market businesses with investments between $3 million and $20 million. The evergreen fund has capital commitments of C$545 million and is headquartered in Toronto.