William Ma, CFA

Building your allocator list? Don’t throw a rager. Host a dinner party. You don’t want seat fillers. You want aligned partners 🤝 The kind who understand your strategy 𝘢𝘯𝘥 your story. Agata Dornan gets it. Big time. From Soros to Chepstow Lane Capital LLP, she’s walked the walk and just made 𝘐𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘪𝘰𝘯𝘢𝘭 𝘐𝘯𝘷𝘦𝘴𝘵𝘰𝘳’𝘴 2025 Hedge Fund Rising Stars list. In this week's episode, she says: “𝗜𝘁’𝘀 𝗮𝗯𝗼𝘂𝘁 𝗮𝗹𝗶𝗴𝗻𝗺𝗲𝗻𝘁. 𝗦𝗼𝗺𝗲 𝘁𝗶𝗰𝗸𝗲𝘁𝘀 𝗮𝗿𝗲 𝗯𝗶𝗴, 𝘀𝗼𝗺𝗲 𝘀𝗺𝗮𝗹𝗹. 𝗕𝘂𝘁 𝗶𝘁’𝘀 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗿𝗶𝗴𝗵𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝗶𝗻 𝘁𝗵𝗲 𝗿𝗼𝗼𝗺.” So, before you fill every seat, ask yourself: → Do they really get you? → Are they here for the ride? Or just the hors d’oeuvres? Pull up a seat: Agata and Stacy Havener are hosting a total masterclass in episode 102. (Yes, you’re invited) 🎧 Listen wherever you get your podcasts ......... 🎙 Thank you to Ultimus Fund Solutions and GemCap for supporting Season 3 of Billion Dollar Backstory!

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Neo Financial secures $68.5m equity to scale lending model Neo Financial, a Canadian FinTech company focused on building digital-first financial products for consumers, has secured $68.5m in equity funding to support the launch of its inaugural securitisation programme. Read the story here: https://lnkd.in/g-6ZjDKn #FinTech #Lending #Canada Andrew Chau

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🤖 Wealth management firms are under growing pressure to deliver advisor technology that feels as intuitive as the apps people use every day. Industry leaders from firms including IG Wealth Management and Sun Life say that means involving advisors directly in software design, testing and AI governance. Read more from Jonathan Got on how firms are steering successful adoption by ensuring they understand advisor work flows, get advisor feedback on tools in the piloting stage and set clear guardrails around external AI use: https://lnkd.in/eUSq5FVc #FinancialAdvisors #Software #AI #WealthTech

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We've noticed a consistent pattern in many Canadian portfolios lately: an "Alternatives" bucket that is almost entirely tilted toward illiquid growth assets like Private Equity and Real Estate. While these are great for long-term value, they often move in lockstep with the equity markets. When the S&P 500 drops, a portfolio full of private equity doesn't necessarily offer the protection clients expect, it just offers a delayed realization of the same risk. We took a preliminary dive into how hedge funds can serve as an alternative source of returns uncorrelated with traditional markets. #WealthManagement #PortfolioStrategy #AlternativeInvestments Noel Dattrino, CIM Mikael Hebert Joanna Dragif Marc Raffoul Anil Singh #rbcwealthmanagement #rbcds #tdwealth #cibcwoodgundy #scotiawealthmanagement #bmowealthmanagement #nationalbankfinancial #iAWealth #nicolawealth #raymondjames #richardsonwealth #td

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Montréal-based Novacap has closed nearly $3.8 billion USD for its seventh tech-focused private equity fund. Novacap says new investors contributed roughly 40% of the new fund’s value, and that about a third came from US investors. #CDNTech

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Amortization isn’t just a repayment schedule. It’s a cash-flow strategy. Understanding how principal and interest are structured helps businesses plan growth, manage liquidity, and reduce long-term borrowing costs. Our team breaks down concepts like amortization so Canadian entrepreneurs can make decisions with clarity, not guesswork. Note: This content is for educational purposes only and does not constitute financial advice. Market conditions and financing structures may vary. Learn more at SHGCapital.ca #SHGCapital #BusinessFinance #CanadianBusiness #Amortization #CashFlow #Entrepreneurship #SmallBusinessCanada #FinancialLiteracy #LendingInsights

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𝐂𝐀𝐍𝐀𝐃𝐀 𝐆𝐄𝐓𝐒 𝐀 𝐁𝐈𝐆 𝐁𝐄𝐓: $𝟕𝟓𝟎𝐌 𝐌𝐎𝐑𝐄 𝐂𝐀𝐏𝐈𝐓𝐀𝐋 𝐋𝐎𝐂𝐊𝐄𝐃 𝐈𝐍 🇨🇦 ‌ CPP Investments | Investissements RPC has expanded its long-running partnership with Northleaf Capital Partners, committing an additional C$750 million to back Canadian mid-market private companies through a dedicated domestic program. ‌ 🌎 Join the community—follow us. ‌ 𝓚ᴇʏ 𝗣ᴏɪɴᴛꜱ: 🔹 𝐇𝐎𝐌𝐄 𝐌𝐀𝐑𝐊𝐄𝐓𝐒, 𝐁𝐈𝐆 𝐂𝐎𝐍𝐕𝐈𝐂𝐓𝐈𝐎𝐍 CPP Investments is doubling down on Canada while others chase global yield. ‌ 🔹 𝐂$𝟕𝟓𝟎𝐌 𝐌𝐎𝐑𝐄, $𝟑𝐁+ 𝐓𝐎𝐓𝐀𝐋 The latest commitment pushes cumulative allocations to Northleaf beyond C$3 billion since inception. ‌ 🔹 𝐌𝐈𝐃-𝐌𝐀𝐑𝐊𝐄𝐓 𝐀𝐓 𝐒𝐂𝐀𝐋𝐄 The mandate spans primary fund commitments, secondaries, and direct co-investments across Canadian buyouts. ‌ 🔹 𝐏𝐀𝐓𝐈𝐄𝐍𝐓 𝐂𝐀𝐏𝐈𝐓𝐀𝐋, 𝐍𝐎𝐓 𝐓𝐎𝐔𝐑𝐈𝐒𝐓 𝐌𝐎𝐍𝐄𝐘 Two decades of partnership signal long-duration confidence, not cyclical allocation. ‌ 🔹 𝐃𝐄𝐄𝐏 𝐃𝐎𝐌𝐄𝐒𝐓𝐈𝐂 𝐂𝐎𝐕𝐄𝐑𝐀𝐆𝐄 Exposure to ~900 Canadian companies through one of the country’s most active mid-market platforms. ‌ 🔹 𝐒𝐄𝐂𝐎𝐍𝐃𝐀𝐑𝐈𝐄𝐒 𝐀𝐃𝐃 𝐀𝐂𝐂𝐄𝐋𝐄𝐑𝐀𝐓𝐈𝐎𝐍 A recent C$160m global secondary deal enhances vintage diversification and deployment speed. ‌ ❓ Is Canada becoming one of the few markets where long-term domestic private equity still scales cleanly? ‌ 👉 If pensions are leaning in at home, should other allocators rethink their geographic risk bias? ‌ Full article: https://lnkd.in/e5nhEPsv ‌ #privatemarkets #canada #privateequity #midmarket #pensions #institutionalinvesting #secondaries #capitalallocation ‌

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🇨🇦 New Deal: Wealthsimple secures up to CAD $750 million in an equity round co-led by Dragoneer and GIC, positioning itself for accelerated growth in the Canadian fintech space. 🏢 Target: Wealthsimple 💼 Investor: Dragoneer Investment Group and GIC 🔗 Read more: https://lnkd.in/dMzs764m #MergersAndAcquisitions #PrivateEquity #CanadianPrivateEquity #BusinessGrowth

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"Dividend growth is a forward-looking discipline - that's where we believe long-term investors are rewarded." - Fiona Wilson, CFA, MBA, Senior Portfolio Manager, i³ Investments™ at Guardian Capital LP. In a recent interview on BNN Bloomberg’s 'The Open', Fiona highlighted that high dividend yields can be a trap and that she believes the real long-term value lies in growing dividends. By incorporating Artificial Intelligence into their research process, Guardian Capital LP's i³ Investments™ Team believes they can anticipate risks, spot opportunities, and focus on quality, seeking to add value through a fusion of Artificial Intelligence, Human Intelligence, and Innovation. Learn more about Guardian Capital LP's i³ Investments™ and how their total return approach may suit your investment goals-https://lnkd.in/gzWFke5J Watch the full interview here: https://lnkd.in/e332g58M

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🚨 FINTECH: Portage takes over management of Point72 Ventures' fintech assets Canadian investment firm Portage has struck a deal to take over the fintech assets of American venture capital firm Point72 Ventures. An affiliate of fintech-focused Portage takes over management of a portfoli of mature, later-stage companies via a US$280 million continuation vehicle. The investment in the continuation vehicle was led by Goldman Sachs Alternatives and supported by a syndicate of secondary investors. In addition to the CV, Portage and Point72 Ventures have entered into a services agreement under which Portage will oversee certain assets owned by Point72 Ventures that are not being transferred. "This transaction underscores our confidence in the strength of this fintech portfolio and the potential synergies with Portage's existing investments. Moreover, we think our value creation expertise will be a huge asset to these fintech companies as they continue to grow," says Adam Felesky, CEO, Portage. 👉 Subscribe for more insights https://lnkd.in/d7aTi8Hm Source: Finextra #Fintech #ventures #investment

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#MEQ.TO: Mainstreet Equity stands out as a disciplined compounder in Western Canada’s rental market, delivering double-digit revenue and FFO growth with a unique, non-dilutive model. Its founder-led team extracts value from underperforming assets, fueling consistent per-share gains. Despite a market premium, valuation remains attractive given strong cash flows and a 14% pipeline of units under stabilization. Could MEQ’s focused strategy and demographic tailwinds make it the best long-term bet in Canadian real estate?

Boreal Ventures has launched Fund II, a $60 million fund that focuses on seed-stage investments in capital-efficient, business-to-business technology companies across Canada, with particular emphasis on Québec and underserved regions. Read here>>> https://lnkd.in/dpBi8HPm David Charbonneau Bas Vlugt Pielina Kamau Michelle Waweru Bob Koigi Kanali Nixon Andrea Ayemoba Patience RUTAYISIRE #venturecapital #privateequity

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"We’ve built a business with the infrastructure, data, and profitable unit economics that allow us to scale with consistency and discipline.” – Noah Buchman. In a new feature with Fintech.ca, Propel Co-Founder, President and CRO Noah Buchman shares insights into our approach on building lasting partnerships and how Propel is leveraging AI, strategic acquisitions, and the right mission-aligned partnerships to scale our impact, execute on our long-term strategy, and deliver record performance. From our successful collaboration with KOHO in Canada to our acquisition of QuidMarket in the UK, we're building a high-performance FinTech infrastructure designed for speed, scale, and sustainable profitable growth. 🔗Read the full article here: https://lnkd.in/gTk99-Wg #Fintech #FinancialInclusion #AI #LendingAsAService #PropelHoldings #GlobalExpansion #InvestInFintech #Partnerships #TSX

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📰 Latest Articles Published in Search Funds News! SFs: - Longview Street Partners targets exceptional U.S. B2B Saas companies - Astoria Growth Partners seeks U.S. entrepreneurs who are ready to pass on the baton Investors: - BDC’s Thrive ETA Fund and prominent Quebec entrepreneurs back Associés MAGNUM Capital Partners Deals: - Aurias strengthens Saepio with the acquisition of Ruptura - Vert Capital Partners acquires Canadian Western Solar Sectorial: - Providing value beyond capital: the secret sauce for successful growth Web Highlights: - How are SF Investors really faring? - Gerald Edelman celebrates record year at the 2025 ETA Awards - Rotterdam School of Management, Erasmus University launches inaugural ETA conference in the Benelux region Not yet subscribed to Search Funds News? Join our vibrant community of readers and stay ahead of the curve! 🙏 By subscribing, you'll have access to all our content: 👉 Link: https://lnkd.in/dgc8XyCP #EntrepreneurshipThroughAcquisitions #EtA #SearchFund #SearchFunds #BusinessAcquisitions #SmallBusinessAcquisition #SearchFundsNews

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💸 Calgary fintech Finofo just closed a $3.3M oversubscribed seed round to modernize how mid-market companies manage cross-border finances—and it’s making serious waves. Led by Watertower Ventures with continued support from Motivate Venture Capital and SaaS Ventures, this round brings Finofo’s total funding to over $5 million. Co-founded by Prateek Sodhi (an institutional FX veteran) and Charles Maranda (formerly of National Bank), Finofo delivers an all-in-one platform for international payments, FX management, reconciliation, and compliance—with real-time control and fraud prevention baked in. 🧾 Already used by over 180 businesses in North America, Finofo is targeting the often-overlooked mid-market segment—companies with complex financial operations but without the resources of big enterprises. As Sodhi puts it: “Mid-market companies have been left behind by both traditional banks and most fintechs.” With a $1.8M annual run rate and growing relevance amid global conversations on financial infrastructure and fraud prevention, Finofo is carving out its spot in the next wave of Canadian fintech. 🇨🇦 One more reason to keep an eye on Alberta’s rising tech scene. https://lnkd.in/g7hRyeZN

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I hate to argue with the Canadian Venture Capital & Private Equity Association (CVCA) on this but, not sure how they view this as “a healthy, stable” Canadian VC market." So, three things 1. The data as presented is unfortunately wrong and misleading. How can that be you ask? Well, it includes $837M of secondary or buyout transactions that while providing great liquidity to the investors who participated, are NOT primary investments. These transactions should have been recorded only as exits on the VC ledger and then they should have been recorded as investments in the PE/Buyout ledger. 2. So when you remove $837M from the primary VC investment column (i.e. capital that truly supports the growth and scaling of a business vs simply facilitating a change of ownership) it drops to ~4.05B vs $4.9B a 17% decline - kind of material, and it means we are running at about 60% of 2024 which as we all know was not a particularly great year. 3. Finally, when you compare US VC financing activity vs CDN VC financing activity the only thing that they have in common is that deal volume is down. In fact, while YTD 2025 VC investment activity in the US has virtually returned to 2021 levels (yes, the mix and type of companies funded has indeed materially changed) the investment levels in the Canada are continuing to head down and to the right. In fact, with VC investments YTD in Canada being C$4B and the US being ~US240B, Canada is at 1.25% of US levels and per capital investment on innovation and the next generation economy is $73 per CDN citizen and $701 per US citizen - OUCH So, at least to me, nothing about this year feels healthy or particularly stable and if we as a country want to compete globally it is going to be very hard to do so investing 1/10th the amount per citizen vs our neighbours to the south

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