Brightspark is expanding access to early-stage venture capital investments for high net worth individuals (HNWIs) (accredited investors) through wealth management firms.
Brightspark has secured Richardson GMP Ltd. as first wealth management firm.
By making the Brightspark platform accessible to Canadian wealth management firms, thousands more accredited investors now have an opportunity to invest funds from their existing portfolios in an asset class that was previously inaccessible, said Brightspark.
[mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT – where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. Be informed!#[/mepr-active][mepr-active rule=”374″]Brightspark has been raising investment capital through series of limited partnerships (or single purpose vehicles, SPVs) predominately from accredited investors. It has just raised $6.77 million from 96 accredited investors, family friends and associates. Roadmap Capital also invests primarily through SPVs, but raising capital from select HNWIs. For its second follow-on investment in GEO Semiconductor Inc. in December 2017, Roadmap Capital raised $5 million from 11 HNWIs/accredited investors for the 3rd GEO SPV. [/mepr-active]
photo credit: Brightspark
Brightspark Extends Early-Stage Venture Capital Deals to Accredited Investors Through Wealth Management Firms
Richardson GMP is the first wealth management firm in Canada to provide its portfolio of clients with access to technology startup investment opportunities through the Brightspark platform
TORONTO and MONTREAL – April 9, 2018 – Brightspark is broadening its portfolio by expanding access to early-stage venture capital investments for high net worth individuals (accredited investors) through wealth management firms, the first of which is Richardson GMP Ltd. By making the Brightspark platform accessible to Canadian wealth management firms, thousands more accredited investors now have an opportunity to invest funds from their existing portfolios in an asset class that was previously inaccessible.
“Richardson GMP is the first wealth management firm to provide its clients with access to the VC asset class through our managed model, which bridges the gap between traditional wealth management and accessible venture capital via our new online investor platform,” said Mark Skapinker, Managing Partner at Brightspark. “Having one of Canada’s largest and most respected wealth management firms recognize the value we deliver to their clients is a tremendous validator of both our model and our vision.”
According to the Capgemini World Wealth Report, there are 356,900 high-net-worth individuals (defined as those with at least $1 million in investable assets) in Canada, many of which have their investments managed through larger wealth management firms like Richardson GMP.
“We are always looking for new approaches as well as access to new market segments that bring innovative investments to our clients’ investment portfolios,” said James Price, Director, Investment Services and Capital Markets at Richardson GMP. “With Brightspark’s deep diligence and expertise, our clients’ investment portfolios can now benefit from the venture capital asset class and Canada’s growing innovation economy.”
Brightspark is one of Canada’s top performing venture capital firms, investing in exceptional entrepreneurs and producing unprecedented returns for investors since 1999. The firm is leading an evolution in venture capital, enabling individuals to invest in top-tier, early-stage Canadian tech companies. To join the Brightspark network, visit brightspark.com.
About Richardson GMP
Trusted. Canadian. Independent. Richardson GMP is one of Canada’s largest independent wealth management firms, entrusted with over $29 billion in client assets. With offices across the country, we are home to some of Canada’s most distinguished Investment Advisors. For more information, visit richardsongmp.com.