Novacap, a Montreal-based private equity and VC firm, has closed two new funds: Novacap Industries III, a Cnd$400 million fund focused on industrial or consumer product manufacturers and service companies; and Novacap Technologies III, a Cnd$165 million fund focused on IT and communications companies.
Novacap, one of Canada's leading private equity and venture capital firms, is proud to announce the closing on two new sectoral funds: Novacap Industries III, L.P. ($400 million) and Novacap Technologies III, L.P. ($165 million). The creation of these funds marks the largest private equity initiative in Quebec to date. The funds are part of the Novacap I (1981) and Novacap II (2000) fund series, which have invested over $300 million in the acquisition and development of over 50 companies.
Novacap Industries III
Novacap Industries III will acquire majority interests in industrial or consumer product manufacturers and service companies with revenues of $40 M to $300 M. “We are very proud of having closed this third fund, which attests to how much faith our sponsors have in our team,” stated Jean-Pierre Chartrand, President of Novacap Industries. “This capital will enable us to build solid partnerships with other entrepreneurs so they can accelerate the growth of their businesses.
Novacap Technologies III will acquire major interests in Information Technology and Communication (ITC) firms with revenues of $10 M to $200 M.
“Having invested heavily in the ITC field over the years, we've developed a unique expertise in acquiring and developing tech firms. Closing this fund will give us the financial resources required to continue helping innovative entrepreneurs build world-class companies,” added Marc Beauchamp, President of Novacap Technologies.
Novacap is supported by some of the largest financial institutions in Canada, the United States and Europe. Novacap's funding is provided by institutional investors, banks, insurance companies, pension funds, fund of funds, well-to-do families and individuals, as well as Novacap's general partners. “The Caisse has been encouraging Novacap since its inception in 1981. We are therefore proud to partner once again with Novacap, for a total investment of $110 million in these two sectoral funds,” stated Normand Provost, Senior Vice-President, Private Equity of the Caisse de d