Blockstream secured US $125M in convertible note and secured loan. Kingsway Capital led the convertible note with Fulgur Ventures and others participation. Cohen & Company Capital Markets acted as exclusive financial advisor while Osler, Hoskin & Harcourt LLP acted as legal counsel.
PenderFund Capital Management’s Pender Technology Inflection Fund II Limited Partnership held $50M initial close with commitments from Export Development Canada (EDC), BMO Capital Partners, CIBC, Kinsted Wealth, Vancity, and Pender Growth Fund Inc.
Jean-Guy Desjardins, founder and Executive Chairman of Fiera Capital Corporation and controlling shareholder, returned as CEO effective immediately, replacing Jean-Philippe Lemay who became Global President & CEO in January 2022.
Greg Allen, former CEO of Wellington Drive Technologies (now AoFrio), joined Chrysalix Venture Capital as Vancouver based Partner, supporting investment team with selected portfolio companies in director and observer roles.
Mark Borkowski: business owners need to partner with the private equity firm, that ‘rolls up their sleeves’ and tackle issues together, to ‘de-risk the business’, resulting in long-term value creation.