CPE News – pcJournal (10/31/2018) – TIMIA Capital Corporation (TSX-V: TCA; OTCGM: TIMCF) has raised $1 Million in non-dilutive capital through its Co-Investor (Participation Interest) platform from Manitou Investment Management Ltd via its Total Return Yield Fund.
Manitou had previously invested $2.5 million in TIMIA’s underlying portfolio of private software companies bringing their total commitment as a Co-Investor to $3.5 Million since January of this year.
photo credit: TIMIA Capital
TIMIA Capital Closes $1,000,000 in Non-Dilutive Capital Through Co-Investment Platform from Manitou Investment Management Ltd via its Total Return Yield Fund
~Manitou Total Return Yield Fund Returns for Third Investment in 2018~
VANCOUVER, BC, October 31, 2018 – TIMIA Capital Corporation (TSX-V:TCA /OTC:TIMCF) (“TIMIA” or the “Company”) today announced the closing of $1 Million in non-dilutive capital through the Company’s Co-Investor platform. The Toronto-based Manitou Investment Management Ltd via its Total Return Yield Fund (“Manitou”) had previously invested $2.5 million in TIMIA’s underlying portfolio of private software companies bringing their total commitment as a Co-Investor to $3.5 Million since January of this year.
TIMIA’s Co-Investor platform allows qualified investors to purchase a specified percentage of future cash flows from TIMIA’s current portfolio companies, thereby increasing the amount of non-dilutive capital available to the Company, and creating accretive value for shareholders. As part of TIMIA’s active management process, TIMIA will retain control, title and security position over the underlying portfolio investments.
“We appreciate Manitou’s support and have been happy to generate positive returns for them through the combination of payments from our underlying portfolio and successful exits from a portion of our investments,” said Mike Walkinshaw, CEO of TIMIA. “This capital allows us to maintain the increased pace of investments into SaaS companies in North America, driving further growth in our assets and revenue.”
The Co-Investor’s yield will fluctuate relative to the performance of the underlying investments. TIMIA has made fifteen investments into private software companies or software as a service (or SaaS) companies since inception in 2015, and has successfully exited four of them, providing a combination of monthly yield and periodic gains. The Company’s assets have grown 65% to more than $13.1 million in the last twelve months, both deployed in investments and in cash.
About TIMIA Capital Corporation
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
For more information, please contact:
Vice President, Capital Markets & Communications
Mike Walkinshaw, CEO
TIMIA Capital Corporation
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