legio X, a search fund led by Vanessa Iarocci, with the backing of Sage Capital Partners Inc., has acquired Brain Power Enrichment Programs Ltd. Financial terms were not disclosed.
Founded by Dr. Karine Rashkovsky, Ph.D., Vaughan, Ontario based Brain Power is North America’s only after-school enrichment program focused on high-achieving students.
Following the closing of the transaction, Iarocci will assume the role of Chief Executive Officer of Brain Power. Iarocci will work closely with Dr. Rashkovsky to expand Brain Power’s impact and reach beyond the GTA to students across North America. Iarocci will co-own the business with growth equity provided by Sage Capital Partners.
Iarocci has previously spent over two decades in progressively senior roles at firms including PwC and TD Bank Financial Group. She led as CEO of a national school apparel company where she orchestrated an innovative turnaround and growth strategy achieving a five-year MOIC of approximately 30x.
legio X is among the 5% of search funds owned and led by women.
Glen Silvestri, managing partner of Sage Capital, says, “We are proud to be backing Vanessa, Karine and their team. Brain Power brings a truly unique education experience to families across North America who otherwise would not know how to help their children harness their full potential. I am also proud to back two female entrepreneurs in our inaugural fund. Less than 5% of search fund investments are in companies led by women, and almost none of those are in Canada, so we hope to support more women entrepreneurs through this important acquisition.”
Formed in 2019, Sage Capital Partners is the first institutional fund focused on search fund investing in Canada.
photo credit: Brain Power
News Release
Sage Capital Inaugural Fund Backs Female Entrepreneurs and Supports High-Achieving Students
Growth investment in Brain Power Enrichment will make proprietary award-winning programs available to high achieving students across North America
January 31, 2022 – Brain Power, North America’s only after-school enrichment program focused on high-achieving students and led by PhD-level faculty, is thrilled to announce it has received funding to spearhead an exciting new phase of growth and innovation.
Brain Power’s faculty have delivered after-school learning opportunities to thousands of high achieving students from their Toronto area headquarters for over thirty years. Graduates of Brain Power’s proprietary language arts, public speaking, math and problem solving, and admission preparation programs — specifically designed to support bright students in reaching their full potential — enjoy:
● higher-than-average acceptance rates into elite secondary and postsecondary programs
● access to unique extracurricular programs, including national and international academic competitions
● academic, career, and life mentorship from brilliant faculty and alumni groups
Most importantly, Brain Power sparks a love of life-long learning, the most foundational element of a twenty-first century education.
Brain Power’s New CEO and Co-Owner’s Mandate is To Drive Growth
On January 31, 2022, Vanessa Iarocci will assume the role of Chief Executive Officer of Brain Power. Vanessa will work closely with second-generation educator Dr. Karine Rashkovsky to expand Brain Power’s impact and reach beyond the GTA to students across North America. She will co-own the business with growth equity provided by Sage Capital Partners.
“I can’t think of a more important challenge to devote myself to than supporting students in achieving their full potential in life,” says Iarocci. “In Brain Power, I see a true disruptor of enrichment education for high-achieving students and an opportunity to make a lasting impact.”
According to Dr. Rashkovsky, “The programs at Brain Power have been designed and honed over three decades to propel bright students to discover and realize their full potential as future leaders. In Vanessa, I’ve found a partner who truly understands what my father and I have built and is passionate about working to reach more students and drive impact across North America.”
Glen Silvestri, managing partner of Sage Capital, says, “We are proud to be backing Vanessa, Karine and their team. Brain Power brings a truly unique education experience to families across North America who otherwise would not know how to help their children harness their full potential. I am also proud to back two female entrepreneurs in our inaugural fund. Less than 5% of search fund investments are in companies led by women, and almost none of those are in Canada, so we hope to support more women entrepreneurs through this important acquisition.”
To learn more about Brain Power visit: www.brainpower.ca
Please direct media requests to vanessaiarocci@mac.com or vanessa@brainpower.ca
About Vanessa Iarocci
Vanessa is a seasoned executive who is passionate about education and innovation. She is an Executive-In-Residence at the University of Toronto’s Rotman School of Management where she has developed curricula, case studies and mentorship programs for MBA students. Vanessa earned her Bachelor of Commerce, CPA designation and was selected to complete a one-year post-graduate certificate in innovation at the Stanford Graduate School of Business, alongside a cohort of Silicon Valley leaders. Professionally, Vanessa has spent over two decades in progressively senior roles at leading firms including PwC and TD Bank Financial Group. She honed her entrepreneurial skills as the CEO of a national school apparel company, where she led an innovative turnaround and growth strategy achieving a five-year MOIC of approximately 30x. Most recently, Vanessa founded legio X, a private fund that focuses on providing capital and mentorship to companies in sectors starved of private-sector innovation opportunities. Her fund is among the 5% of search funds owned and led by women.
About Dr. Karine Rashkovsky
Karine is a seasoned educator who has devoted her life to developing and delivering unique programs for high-achieving and talented students. She has earned a PhD in Education Policy, coauthored Brain Power’s math and problem-solving textbooks and an advanced grammar-meetsclassical-literature textbook, and her academic research has appeared in peer-reviewed journals such as Educational Leadership and Urban Education. In addition to teaching master classes in pedagogy to upcoming educators (University of Toronto – OISE) and providing professional development training for private school educators, Karine contributes to education policy and research as a research collaborator on a prestigious research team (winner of SSHRC Insight Grant Competition) with the University of Western Ontario, University of Windsor, York University, University of Toronto – OISE, TDSB, and YRDSB. Karine was also recently honoured with the Order of Vaughan award for Education, the highest civic honour the city may present, for her significant and enduring contributions in her field. As an award-winning educator, Karine is a sought-after speaker at academic conferences (McMaster University – Beyond the Horizon; UofT – Operation Med School; UofT – Future Lawyers, to name a few) and a judge in a wide range of academic competitions (NASA’s UofT Space Hackathon, STEM-Prospective Medical Professionals [PuMP], Canada’s Speaker Slam: Inspirational Speaking Competition, York Region Secondary School debate competitions, and others). Karine is passionate about transforming the enrichment-education landscape and dedicated to nurturing talented future leaders.
About Sage Capital Partners Inc.
Formed in 2019, Sage Capital Partners is the first institutional fund focused on search fund investing in Canada. Sage supports both traditional searchers and non-traditional/self-funded entrepreneurs in their quest to acquire and grow companies in the mid-market. If you are an entrepreneur/searcher looking to acquire a small to mid-sized private Canadian company or you or your client are looking to sell a business, please reach out to discuss how we might help. Sage has extensive experience in a wide variety of businesses and industries and continues to actively pursue both control and minority investment opportunities.