Canadian private equity firm W Investments has held an initial close of its second fund, raising C$100 million-plus from Quebec-based private investors. W Investments Group II will make minority investments in North American businesses, primarily in Quebec, with at least $30 million in enterprise value, and allocate 25 percent of its capital to real estate projects. It is expected to close by the end of 2021.
MONTREAL, Oct. 14, 2021 /CNW Telbec/ – W Investments today announced the initial closing of the firm’s second fund, W Investments Group II LP, which is tailored for entrepreneurs and sponsored by entrepreneurs. The fund raised over $100 million exclusively from private investors within the Quebec business community.
“Raising over $100 million exclusively from private investors is an achievement in the Province of Quebec. This shows that our entrepreneurial approach makes sense and responds to a real need in the market. Our entrepreneurs need other entrepreneurs to support them in their businesses and this is exactly what W offers,” said David Waddell, Co-Founder and Managing Partner.
”We are fortunate and grateful to be supported by such an outstanding group of private investors and I would like to take this opportunity to thank them,” said Maxime St-Laurent Co-Founder and Managing Partner. ”I’m extremely proud to be part of this group, I deeply respect my partners as entrepreneurs but even more so as individuals. The chemistry of our team, the depth of our investor base and the resulting collective experience in our market are key to our success going forward.”
The fund will target minority equity positions in North American businesses, primarily in the Province of Quebec, with at least $30 million in enterprise value. It will also allocate 25% of its commitments to real estate developments.
“We know that the pandemic has put an enormous strain on businesses, but more importantly on the ones who run them. We are here to help business owners by allowing them to take some chips off the table, and then by accelerating their growth,” said Nicolas Bélanger, Co-Founder.
W Investments’ first fund closed in 2019 with $120 million in commitments and was deployed in less than 24 months across 20 investments, including, but not limited to Lion Electric, Cognibox, Flaviar, Wealthsimple, Averna Technologies, Meubles St-Damase, Bosquet, Gelpac, GoSecure and Samara.
The fund remains open for additional commitments and expects to have its final closing around the end of 2021.
About W Investments
We are W Investments; a private equity fund based in Montreal, Canada. We’re entrepreneurs, investing in other entrepreneurs. We value integrity, humility, and…we like to have fun. We target minority positions in businesses with at least $30M in enterprise value. Our average cheque size is $5-10M. We’re sector-agnostic, and thanks to our long-term investment horizon, we’re never pressured to sell if the timing isn’t right. We’re human, contact us.