Investment Summary

Canadian Business Growth Fund Invests In Neovation

On November 30, 2021, growth capital firm Canadian Business Growth Fund invested in information technology company Neovation

Investment Highlights
  • This is Canadian Business Growth Fund’s 7th transaction in the Information Technology sector.
  • This is Canadian Business Growth Fund’s 21st transaction in Canada.
  • This is Canadian Business Growth Fund’s 2nd transaction in Manitoba.

Investment Summary

Date 2021-11-30
Target Neovation
Sector Information Technology
Investor(s) Canadian Business Growth Fund
Deal Type Growth Capital

Target

Neovation

Winnipeg, Manitoba, Canada
Neovation is a provider of digital learning products and services to mid-market and extended enterprise businesses and organizations. Neovation is based in Winnipeg, Manitoba.

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Investor(S) 1

Investor
DESCRIPTION

Canadian Business Growth Fund (CBGF) is an independent, evergreen growth?capital investment fund backed by Canadian banks and insurance companies. The Firm looks to provide minority equity investments ranging from CAD?5 to?20?million in mid?market Canadian businesses with solid revenue and growth trajectories. CBGF was formed in 2018 and is based in Toronto, Ontario.


DEAL STATS #
Overall 22 of 31
Sector: Information Technology M&A 7 of 8
Type: Growth Capital M&A Deals 16 of 21
State: Manitoba M&A 2 of 2
Country: Canada M&A 21 of 30
Year: 2021 M&A 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-21 Homestyle Selections

Edmonton, Alberta, Canada

Homestyle Selections invest in companies that make high-quality, ready-to-eat meals and sides available at local grocery or food service establishments. Homestyle Selections was founded in 2019 and is based in Edmonton, Alberta.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-06 Kudos

Calgary, Alberta, Canada

Kudos is an employee engagement, culture, and analytics platform, that harnesses the power of peer-to-peer recognition, values reinforcement, and open communication to help organizations boost employee engagement, reduce turnover, improve culture, and drive productivity and performance. It uses unique proprietary methodologies to deliver essential people analytics on culture, performance, equity, and inclusion, providing organizations with deep insights and a clear understanding of their workforce. Kudos was formed in 2010 and is based in Calgary, Alberta.

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