Novacap is the first private equity firm in 
BMO says restructuring charge to affect about 5% of global workforce, without offering specifics
Plan will reduce burden for investors and improve capital market efficiency
Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Press Releases
Hyperion Technologies announces Lisa Cheng as new CEO
Hyperion Technologies Release | Dec 10, 2019
VANCOUVER, British Columbia — Hyperion Technology Inc. (Hyperion) is pleased to announce the appointment of Ms. Lisa Cheng as the new CEO and the transition of Mr. Michael Zavet to the role of President.
Lisa Cheng states “I’m thrilled to join Hyperion’s team and I’m very excited for the opportunity of leading the company towards its goal of developing the seminal unified exchange for all classes of digital assets.
Michael Zavet has done a tremendous job in building relationships and brand awareness for Hyperion, including establishing key partnerships, such as its relationship with the Delaware Board of Trade (DBOT) Alternative Trading System. I plan on continuing this trend and expanding Hyperion’s vision to include solving the broader issues in the digital assets sphere.”
Michael Zavet states “We are very fortunate that Lisa has agreed to join and lead Hyperion. I believe as one of the early pioneers in the blockchain space combined with her talent in developing platforms, Lisa will bring to Hyperion a significant advantage in reaching its goals.”
Podcast: Gearing up Hyperion Exchange, Hybrid Models and Security Tokens with Michael Zavet, Founder, Hyperion Technologies
About Hyperion Technologies
Based in Toronto, Canada, with offices in New York, USA and Vancouver, Canada, Hyperion aims to develop and operate platforms which enable and improve the trade of digital assets including security tokens.
View release: here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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FrontFundr Further Expands Investor Access to Private Investment Deals
FrontFundr Release | Dec 10, 2019
Canada’s largest equity crowdfunding platform connects to DealSquare, a centralized platform for private placements
TORONTO, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Silver Maple Ventures Inc. is pleased to announce new synergies between its two fintech platforms designed to enable robust investor access to private market deals and further simplify the transaction process. FrontFundr, Canada’s leading equity crowdfunding platform and exempt market dealer, has officially become a participating dealer on DealSquare, Canada’s first centralized dealer platform for private placements. The team at Silver Maple Ventures is excited to be first movers in providing widespread investor access to private market deals, digitally connecting capital-raisers to all investors, investment dealers and their advisory networks.
“In recent years, the private markets have been growing twice as fast and producing 3-4% higher returns than the public markets, but the average retail investor hoping to diversify their portfolios have traditionally been locked out and unable to participate. With FrontFundr, all investors can get in on the private market action,” says Peter-Paul Van Hoeken, Founder and CEO of Silver Maple Ventures Inc.
“The synergies work both ways. On the one hand, FrontFundr can now make its private placements available to other dealers and advisors by connecting to DealSquare. On the other hand, FrontFundr can make private placements listed on DealSquare available to its community of equity crowdfunding investors, truly democratizing access to the private markets.”
Launched in October 2019, DealSquare simplifies the current private placement process for dealers, advisors and capital raisers. The platform is a fintech solution to the traditionally fragmented private markets developed in partnership with NEO, where private placement deals are most often marketed through word-of-mouth and transacted using archaic technology. Through DealSquare, investment opportunities are marketed online, subscriptions processed electronically and transactions are closed using NEO Connect, seamlessly integrating a client’s exempt securities into their portfolio account.
See: Early-stage Investing – The Public gets a Seat at the Table
However, companies completing private placements still rely on friends, family, business relationships and accredited investors inefficiently raising money from a very small group of investors. With the onboarding of FrontFundr to DealSquare, accredited and non-accredited investors now have the opportunity to participate in private placements posted on DealSquare.
FrontFundr has pioneered investment crowdfunding in Canada. As of today, FrontFundr’s community of 15,000 accredited and non-accredited (retail) investors can search, find, review and complete an investment in private placements, all within one session and on one digital platform. Since launch in June 2015, over $20 million has been raised on the FrontFundr platform, with $5 million raised in 2019 alone, and nearly $15 million anticipated to be raised through the platform in 2020. With offerings for a range of investor types, the average FrontFundr investment is approximately $5,000, with a median investment of approximately $2,000 per investment.
FrontFundr continues to lead the democratization of the private markets in Canada. On November 27, 2019 the company obtained approval from the Ontario Securities Commission to use start-up crowdfunding rules in Ontario that were already available in other provinces. FrontFundr can now offer previous and future issuer clients the opportunity to raise up to $250,000 twice per year and any Ontarian can invest up to $5,000 with each offering where suitable.
In order to provide important investor protections as the retail community enters the private markets space, FrontFundr developed a Suitability Assessment Manager (SAM) and secured discretionary approval from the Canadian securities regulators earlier this year. This online tool is fully integrated into the FrontFundr platform and performs an electronic suitability assessment automatically, enabling an investor to complete a security purchase from start to finish in one online session. SAM is a significant step forward in democratizing access to the private markets, making it easy and efficient for everyone.
About Silver Maple Ventures Inc.
Silver Maple Ventures Inc. (“SMV”) is an exempt market dealer and holding company of FrontFundr Financial Services Inc. (“FrontFundr”) and DealSquare Technologies Inc. (“DealSquare”). With offices in Toronto and Vancouver, the SMV team are national leaders in the private capital markets, developing and operating two fintech platforms to provide access to private markets in Canada and simplify the transaction process. Launched in 2015, FrontFundr is Canada’s leading online marketplace that allows all investors, accredited and non-accredited, to participate in curated private placements through equity crowdfunding. DealSquare launched in October 2019 as Canada’s first centralized dealer platform for private placements, digitally connecting capital-raisers to investment dealers and their advisory networks.
Source: FF Release
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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NOVACAP officially launches its new financial services fund
Novacap | Release | Dec 3, 2019
Novacap is the first private equity firm in Canada to launch a fund dedicated to financial services.
MONTREAL, Dec. 3, 2019 /PRNewswire/ - Novacap, one of Canada's leading private equity firms, announced the introduction of a new sector fund and its first closing. Novacap Financial Services I (the "Fund") gathered initial commitments of C$260 million, a strong start toward its target of C$500 million. A second group of institutional investors is expected to close in Q1 2020.
Driven by strong demand from new and existing investors, the Fund will be managed by three seasoned executives: Marcel Larochelle, as Managing Partner, as well as Rajiv Bahl and Alain Miquelon as Senior Partners. With a dedicated investment team, they will fully leverage Novacap's infrastructure and apply Novacap's proven investment methodology.
Novacap Financial Services I aims to invest in mid-market companies established in North America, with a focus on Canada, with strong growth potential. Four segments are of particular interest: 1-specialty insurance and distribution, 2-asset and wealth management, 3-alternative lending and 4-financial infrastructure.
The Fund will make equity investments in order to support companies with their organic growth initiatives and to drive strategic acquisitions.
See: Portag3 Ventures closes $320 million second fund focused on fintech investment
The Fund is backed by commitments from corporate and public pension funds, financial institutions, family offices and high net-worth individuals. "We are extremely pleased with the strong support received from our investors for this first close." said Mr. Marcel Larochelle, Managing Partner of Novacap Financial Services, "This is very timely, as we are currently pursuing some very attractive investment opportunities for the Fund."
"It is a historical event as we are the first private equity firm in Canada to launch a fund dedicated to financial services businesses" said Mr. Pascal Tremblay, President and CEO of Novacap, "The Financial Services fund addresses a significant need in the Canadian market that we have observed over the past few years. I am very proud of the team that we have assembled, who made this possible."
View the original release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Portag3 Ventures closes $320 million second fund focused on fintech investment
TechCrunch | Darrell Etherington | Dec 3, 2019
Canadian venture capital firm Portag3 Ventures has closed a second fund focused on investing in fintech startups, with final commitments from institutional and strategic LPs totally $427 million CAD (around $320 million USD). The fund will focus on early-stage investments, and it’ll look to invest in companies globally, but with a particular focus on Canada, the U.S., Europe and some markets in the Asia-Pacific region.
“We’re on a mission to build global champions from a Canadian base,” Portag3 CEO Adam Felesky told TechCrunch regarding the firm’s base of operations and investment targets. “Canada has the talent, the expertise and one of the biggest markets in the world directly to our south.
All the ingredients are there, we just need more success stories — and we are on our way to getting them. Success will breed more success. In order to understand what it takes to succeed globally, you need to invest and work with the best of the best from around the world.
Many of the early fintech unicorns are based in Europe on the back of substantive, helpful policy changes. Canada needs to learn from these examples so we get the right ingredients for building a leading, vibrant ecosystem — and we slowly but surely are.”
Contributors to this new fund include Alterna Savings and Credit Union, Aviva France, BDC Capital, Caisse de dépôt et placement du Québec, CNP Assurances, The Co-operators, Eldridge Industries, Green Shield Canada and more. The list includes a lot of strategic investors, including LPs from Portag3’s first $198 million CAD ($149 million USD) close for this fund, which was announced in October 2018.
Portag3’s Fund II has already been making investments prior to this final closing, and has already put money into KOHO, Clark, Integrate.ai and startup-builder Diagram Ventures, along with 13 other startups. Its first fund invested in a number of fintech-related companies, including Clearbanc, Drop, League and Wealthsimple, as well as some companies that have already exited, including Wave, Quovo and Zensurance.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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BMO restructuring charge to lead to hundreds of job losses
CBC | BMO Release | Dec 3, 2019
BMO says restructuring charge to affect about 5% of global workforce, without offering specifics
The Bank of Montreal's fourth-quarter profit fell to $1.19 billion as it was hit by a restructuring charge related primarily to severance that will affect about five per cent of its global workforce.
The bank said Tuesday the quarter ended Oct. 31 included a $357-million restructuring charge as a result of a decision to accelerate delivery of digitization initiatives and simplification of the way it does business.
Part of reason for the move was lower margins from its personal and commercial banking business in the United States as a result of lower interest rates, as well as slower U.S. economic growth expected next year, officials said.
BMO didn't reveal details about where or when the job cuts will occur, but it had about 45,513 employees at the end of October. A five per cent cut suggests about 2,275 jobs would be affected.
Based on the geographic breakdown of BMO's workforce, the restructuring could affect roughly 1,500 jobs in Canada and 775 in the United States.
See:
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Alternative Lenders Continue to Steal Business From Banks
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Banks have lost a quarter of the payments franchise to new players
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Banks Must Act Now or Risk Becoming a ‘Footnote’: McKinsey
Chief financial officer Tom Flynn said the efficiency initiatives announced Tuesday will provide annual savings of $200 million in its 2020 financial year, which began Nov. 1, and about $375 million by the first quarter of its 2021 financial year.
"I would expect the savings that we've talked about to flow through each of our businesses in a fairly representative way … both by operating group and by geography," Flynn told analysts on a conference call.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Ontario Has a Plan to Create a More Competitive Business Environment
Ontario Ministry of Finance | Nov 21, 2019
Plan will reduce burden for investors and improve capital market efficiency
TORONTO — The Ontario government is attracting investment and helping businesses grow by modernizing the regulation of the province's capital markets.
Finance Minister Rod Phillips discussed the government's plan to strengthen investment, promote competition and facilitate innovation — positioning Ontario as a leading capital markets jurisdiction — at today's Ontario Securities Commission (OSC)'s Dialogue 2019 conference.
"Confidence in capital markets is vital for businesses looking to create jobs and strengthen the economy — and for individuals and families looking to invest for the future," said Minister Phillips. "The government has a plan to support more competitive and more efficient capital markets in Ontario, so individuals and families can invest and grow their savings, and businesses can tap into the capital funding they need to grow, innovate and evolve."
Ontario is creating a modernized securities regulatory framework responsive to today's globalized financial markets. The government is creating a securities modernization task force to review the outdated Securities Act for the first time in over 15 years. The task force will consult with investors, financial services professionals, businesses and the public on critical areas such as competitiveness, regulatory structure, efficient regulation, and investor and consumer protections.
See: Lagging regulation, consumer trust inhibiting FinTech adoption in Canada
The government is also proposing to implement a title protection framework for financial planners and advisors. In Ontario today, families and businesses risk receiving financial planning and advisory services from individuals who may not be appropriately qualified to help them save for the future. Reforming how titles are used would help weed out bad actors and strengthen consumer confidence in these professions.
"The OSC is an important partner in modernizing securities regulation. The government looks forward to reviewing the OSC Burden Reduction Task Force's report and implementing its recommendations on enhancing the competitiveness of Ontario's business environment," said Minister Phillips.
The government has tabled legislation, which, if passed, would support greater efficiency in capital markets by allowing the OSC to issue blanket orders.
"By modernizing financial services and securities, we are helping to make Ontario the most attractive place in North America to invest, grow a business and create jobs," said Minister Phillips.
View the press release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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RBC leads $20 million Highline Beta fund that helps start-ups sell to large corporations
Highline Beta | Nov 19 ,2019
With RBC as the lead private investor, Highline Beta’s inaugural fund forms part of the Government of Canada’s Venture Capital Catalyst Initiative.
TORONTO, November 19, 2019 - Highline Beta, a leading new venture development and venture capital firm known for its unique corporate innovation model, today announced the first close of its inaugural investment fund, Highline Beta Fund 2019 (“The Fund”).
This predominantly Pan-Canadian fund will make up to 30 investments in startups co-created or partnered alongside corporations, and is one of only seven funds selected by the Government of Canada’s Venture Capital Catalyst Initiative, with Royal Bank of Canada (RBC) as the lead private investor.
Highline Beta believes it can improve upon the features of traditional startup accelerators and corporate-startup engagement programs to achieve more meaningful win-win relationships. Highline Beta has spent years collaborating with a roster of global corporations such as RBC, Anheuser Busch InBev, Aviva Canada and American Family on growth mandates beyond their core businesses to reimagine the industries we live in through startup innovation.
See: Why venture capital firms need more women partners and entrepreneurs
“Almost four years ago, we pioneered a hybrid corporate venture studio and venture capital model alongside global enterprises that maximizes success for the corporate partner, startups and venture investors. We’ve taken our deep experience as tech founders, accelerator stage investors and corporate innovation architects to create a new model for corporate-startup collaboration that works.
Today’s Highline Beta Fund announcement helps to solidify our leadership in the Pan-Canadian innovation ecosystem as we accelerate our co-creation work and investments with global 1000 enterprises,” says Marcus Daniels, Highline Beta Founding Partner and CEO.
“Not only is this a unique model in Canada, but the goal for Highline Beta is to become a global category leader over the next decade that helps to launch and invest in market-leading startups.”
Our corporate-startup venture model and Female Funders integration will generate better portfolio diversity and financial returns.
The Fund’s first close signifies growing interest in the role of corporations building a portfolio of organic and inorganic growth opportunities using a venture capital approach. In turn, it also represents a shift in how startups navigate and co-innovate with corporations.
“It can be challenging for founders to navigate the complex corporate structures and paths to decision makers within large organizations,” says Lauren Robinson, General Partner at Highline Beta and Executive Director of Female Funders. “Highline Beta’s corporate programs accelerate the path to commercial deals to better support our founders with validation through customer pilots to drive metrics for follow-on funding.”
Increasingly, corporate executives are seeing their roles shift to focus on innovation and defining the future of their industries. To ensure systemic change for the funding landscape and underrepresented women founders, Highline Beta has integrated its Female Funders investment education program into their overall fund operations, resulting in a more diverse group of investors, executives and founders at the table. This will unlock new pools of capital and expertise for startups and investors across the venture capital ecosystem, while driving better returns for the portfolio.
See: Agents of Change: Making innovation agencies as innovative as those they support
“BDC Capital has been a valued partner to Highline Beta since inception," said Jerome Nycz, Executive Vice-President, BDC Capital. "Highline Beta has taken an innovative approach to scaling startups with global enterprises and funding world-class entrepreneurs, and we are supportive of their efforts to drive growth through diversity in the Canadian venture capital ecosystem."
Co-Creating startups with leading corporations creates true unfair advantage, leading to unique investment opportunities
“Corporate executives know it’s not easy to innovate from within. We believe large companies should take a balanced approach by also building a portfolio of venture profile investments on the outside. We empower external startups to work effectively with corporate partners to pursue the creation of truly scalable opportunities that couldn’t be imagined without either stakeholder being deeply committed,” says Ben Yoskovitz, Highline Beta’s Founding Partner and co-author of Lean Analytics.
Startups that go through corporate accelerators and commercialization programs powered by Highline Beta are driving the future of corporate growth. RBC, AB InBev’s 100+ Sustainability Accelerator and Safe x Connected Cities with Aviva Canada generate early entry-points to deal flow not accessible to traditional institutional investors.
“RBC is working with Highline Beta to take a startup-centric approach to tackle some of the most interesting opportunities to serve Canadians,” says Mike Dobbins, Chief Strategy & Corporate Development Officer, RBC.
“An investment in The Fund allows RBC to extend our commitment to the startup collaboration model championed by Highline Beta and provides a way for RBC to continue to support these newly-created companies to create differentiated value for our clients.”
View the original relase --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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