Canadian Business Growth Fund Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Canadian Business Growth Fund has invested in 7 companies.

Canadian Business Growth Fund’s most common sectors for investment areinformation technology (26%) and internet software and services (20%) . The Firm’s most common investment types include growth capital (68%) and venture (30%). In total, Canadian Business Growth Fund has invested in 1 US state and 2 different countries.

In the last 3 years, Canadian Business Growth Fund has exited 4 companies. The Firm’s most common exit type is trade sale (50%). Canadian Business Growth Fund’s largest (disclosed) exit occurred in 2020 when it sold PayBright for $258M.

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M&A Summary

M&A Total Activity37
- M&A Buy Activity31
- M&A Sell Activity6
Total Sectors Invested 14
Total Countries Invested 2
M&A Buy/Sell Connections 11

Canadian Business Growth Fund (CBGF)

Transaction Criteria	Min	Max
Target Revenue	5	100
Target EBITDA	-	-
Investment Size	5	20
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

100

Target EBITDA

Investment Size

Enterprise Value

values in millions of USD

Year	≤ '20	'21	'22	'23	'24	'25	T
Buy (3.0/yr)	#	16	8	4	2	-	1	31
Sell (0.8/yr)	#	2	-	-	1	3	-	6
vol	$258M						$258M
	37

Year

≤ '20

'21

'22

'23

'24

'25

Buy (3.0/yr)

Sell (0.8/yr)

vol

$258M

Company	Date	Value	Type
Layla Care, Inc.	2025-01-01	-	Growth Capital
Toronto, Ontario · www.layla.care
PureFacts Financial Solutions, Inc.	2024-08-01	-	Secondary Sale
Toronto, Ontario · www.purefacts.com
MaxSold, Inc.	2024-03-01	-	Unknown
Kingston, Ontario · www.maxsold.com
STN Video, Inc.	2024-01-24	-	Trade Sale
Victoria, British Columbia · www.stnvideo.com
FundThrough, Inc.	2023-06-20	-	Growth Capital
Toronto, Ontario · www.fundthrough.com
Specialty Medical Partners	2023-02-22	-	Growth Capital
Toronto, Ontario · www.specialtymedicalpartners.com
Environmental 360 Solutions Ltd.	2023-02-16	-	Secondary Sale
Aurora, Ontario · www.e360s.ca
ChangeMakers	2022-11-04	-	Venture
Calgary, Alberta · www.thechangemakers.com
ProcedureFlow	2022-07-26	-	Venture
Saint John, New Brunswick · www.procedureflow.com
Felix Health, Inc.	2022-06-01	-	Growth Capital
Toronto, Ontario · www.felixforyou.ca
View All >>

Company

Date

Value

Type

Layla Care, Inc.

2025-01-01

Growth Capital

Toronto, Ontario · www.layla.care

PureFacts Financial Solutions, Inc.

2024-08-01

Secondary Sale

Toronto, Ontario · www.purefacts.com

MaxSold, Inc.

2024-03-01

Unknown

Kingston, Ontario · www.maxsold.com

STN Video, Inc.

2024-01-24

Trade Sale

Victoria, British Columbia · www.stnvideo.com

FundThrough, Inc.

2023-06-20

Growth Capital

Toronto, Ontario · www.fundthrough.com

Specialty Medical Partners

2023-02-22

Growth Capital

Toronto, Ontario · www.specialtymedicalpartners.com

Environmental 360 Solutions Ltd.

2023-02-16

Secondary Sale

Aurora, Ontario · www.e360s.ca

ChangeMakers

2022-11-04

Venture

Calgary, Alberta · www.thechangemakers.com

ProcedureFlow

2022-07-26

Venture

Saint John, New Brunswick · www.procedureflow.com

Felix Health, Inc.

2022-06-01

Growth Capital

Toronto, Ontario · www.felixforyou.ca

View All >>

Sector	Current #	Value	All-time #	Value
Information Technology	7 (28%)	-	8 (26%)	-
Internet Software and Services	5 (20%)	-	6 (19%)	-
Software	3 (12%)	-	3 (10%)	-
Business Services	1 (4%)	-	2 (6%)	-
Financial Services	1 (4%)	-	2 (6%)	-
Healthcare Services	2 (8%)	-	2 (6%)	-
Automotive	1 (4%)	-	1 (3%)	-
Consumer Services	1 (4%)	-	1 (3%)	-
Digital Media	-	-	1 (3%)	-
E-Commerce	1 (4%)	-	1 (3%)	-
Environmental	-	-	1 (3%)	-
Food	1 (4%)	-	1 (3%)	-
Marketing	1 (4%)	-	1 (3%)	-
Technology Hardware	1 (4%)	-	1 (3%)	-
Total	25	-	31	-

Sector

Current #

Value

All-time #

Value

Information Technology

7 (28%)

8 (26%)

Internet Software and Services

5 (20%)

6 (19%)

Software

3 (12%)

3 (10%)

Business Services

1 (4%)

2 (6%)

Financial Services

1 (4%)

2 (6%)

Healthcare Services

2 (8%)

2 (6%)

Automotive

1 (4%)

1 (3%)

Consumer Services

1 (4%)

1 (3%)

Digital Media

1 (3%)

E-Commerce

1 (4%)

1 (3%)

Environmental

1 (3%)

Food

1 (4%)

1 (3%)

Marketing

1 (4%)

1 (3%)

Technology Hardware

1 (4%)

1 (3%)

Total

State/Country	Current #	Value	All-time #	Value
Canada	24 (96%)	-	30 (97%)	-
	Ontario	9 (36%)	-	14 (45%)	-
	Alberta	4 (16%)	-	4 (13%)	-
	Quebec	3 (12%)	-	3 (10%)	-
	British Columbia	2 (8%)	-	3 (10%)	-
	Nova Scotia	2 (8%)	-	2 (6%)	-
	Manitoba	2 (8%)	-	2 (6%)	-
	Saskatchewan	1 (4%)	-	1 (3%)	-
	New Brunswick	1 (4%)	-	1 (3%)	-
United States	1 (4%)	-	1 (3%)	-
	Colorado	1 (4%)	-	1 (3%)	-
Total	25	-	31	-

State/Country

Current #

Value

All-time #

Value

Canada

24 (96%)

30 (97%)

Ontario

9 (36%)

14 (45%)

Alberta

4 (16%)

4 (13%)

Quebec

3 (12%)

3 (10%)

British Columbia

2 (8%)

3 (10%)

Nova Scotia

2 (8%)

2 (6%)

Manitoba

2 (8%)

2 (6%)

Saskatchewan

1 (4%)

1 (3%)

New Brunswick

1 (4%)

1 (3%)

United States

1 (4%)

1 (3%)

Colorado

1 (4%)

1 (3%)

Total

Type	Current #	Value	All-time #	Value
Growth Capital	16 (64%)	-	21 (68%)	-
Venture	8 (32%)	-	9 (29%)	-
Acquisition Financing	1 (4%)	-	1 (3%)	-
Total	25	-	31	-

Type

Current #

Value

All-time #

Value

Growth Capital

16 (64%)

21 (68%)

Venture

8 (32%)

9 (29%)

Acquisition Financing

1 (4%)

1 (3%)

Total

Type	Total #	Value
Trade Sale	2 (33%)	258M (100%)
Secondary Sale	2 (33%)	-
Trade Sale - Public Company	1 (17%)	-
Unknown	1 (17%)	-
Total	6	$258M

Type

Total #

Value

Trade Sale

2 (33%)

258M (100%)

Secondary Sale

2 (33%)

Trade Sale - Public Company

1 (17%)

Unknown

1 (17%)

Total

$258M

sell	#	Total
$100M to $1B	1	$258M
TOTAL	$258M
Largest	PayBright $258M (2020-12-03)

sell

Total

$100M to $1B

$258M

TOTAL

$258M

Largest

PayBright
$258M (2020-12-03)

		Deals
Exited to
Investor(s)	33%	2 (33%)
Strategic(s)	50%	3 (50%)

Deals

Exited to

Investor(s)

2 (33%)

Strategic(s)

3 (50%)

FAQ

When was Canadian Business Growth Fund (CBGF) founded?

Canadian Business Growth Fund (CBGF) was founded in 2018.

What type of investor is Canadian Business Growth Fund (CBGF)?

Canadian Business Growth Fund (CBGF) is a growth capital firm.

Where is Canadian Business Growth Fund (CBGF) headquartered?

Canadian Business Growth Fund (CBGF) is headquartered in Toronto, Ontario.

How much capital does Canadian Business Growth Fund (CBGF) have under management?

Canadian Business Growth Fund (CBGF) has 545M USD under management.

Canadian Business Growth Fund Mergers and Acquisitions Summary

Growth Capital Firm Profile

M&A Summary

Canadian Business Growth Fund (CBGF)

Canadian Business Growth Fund (CBGF)

Investment Criteria

M&A Summary

Buy vs Sell

Most Recent M&A

M&A by Sector

Acquisitions By Geo

Acquisitions by Deal Type

Exits by Deal Type

Deal Values

M&A Connections

Investor Summary

Investor Type

Size

PE Assets

Established

Specialist/Generalist

Leadership

George Rossolatos

Karoline Elkind

Dale Tingley

Hai Tran-Viet

Kyle Zacks

FAQ

When was Canadian Business Growth Fund (CBGF) founded?

What type of investor is Canadian Business Growth Fund (CBGF)?

Where is Canadian Business Growth Fund (CBGF) headquartered?

How much capital does Canadian Business Growth Fund (CBGF) have under management?

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