Canadian Business Growth Fund takes minority stake in FundThrough

• FundThrough’s platform helps generate fast, customized funding solutions to accelerate cash flow for growing small and medium-sized B2B businesses across North America
• It is led by co-founders Steven Uster (CEO) and Deepak Ramachandran (CTO)
• CBGF is a private equity firm that provides patient minority capital and strategic support to Canadian mid-market businesses

Canadian Business Growth Fund (CBGF) has made a minority equity investment in FundThrough, a Toronto-based technology-enabled invoice funding platform. No financial details of the transaction were disclosed.

FundThrough’s platform helps generate fast, customized funding solutions to accelerate cash flow for growing small and medium-sized B2B businesses across North America. It is led by co-founders Steven Uster (CEO) and Deepak Ramachandran (CTO).

The proceeds from the investment will be used to accelerate FundThrough’s organic and inorganic growth plans, CBGF said in a statement.

In 2020, Northleaf Capital Partners acted as the sole lead arranger of a $50 million senior secured credit facility to support the recapitalization and growth of FundThrough.

A Toronto-based private equity firm, CBGF was launched in 2018 with the backing of 13 Canadian bank and non-bank financial institutions. It focuses on providing patient minority capital and strategic support to Canadian mid-market businesses.

CBGF invests between $5 million and $20 million in mid-market companies with $5 million or more in annual revenue. The fund has total capital commitments of $545 million.