Author: Vertu Capital

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Jason Smith Joins Vertu Operating Advisor Network


[Toronto, Ontario, March 5, 2021] Vertu Partners Fund I, a private equity fund that focuses on high-potential technology businesses in the Canadian lower mid-market, announced today that veteran tech executive and entrepreneur, Jason Smith, has joined as an operating advisor.   

Jason is a highly regarded Canadian tech entrepreneur with more than 25 years of experience building market leading disruptive fintec companies across North America.  In 2004 Jason founded Real Matters, Inc., a proprietary software platform that automates mortgage lending and insurance services and now serves a majority of the Tier I banks in the US and Canada. Jason has navigated the company from inception to scale and through five rounds of financing, including its Initial Public Offering in May 2017.

Full profile here.

Lisa Melchior, Founder & Managing Partner, said “Jason is one of Canada’s top technology leaders who has successfully executed on his vision to build scaled tech businesses.  I am thrilled that he is joining our network of operating advisors and will share his experience to support the growth of Vertu’s portfolio companies. As a board member of Real Matters, I have first-hand knowledge of Jason’s talent as a technology leader. Together, we will continue to position Canadian technology firms for growth and success.”

“As a founder and leader of Canadian technology companies from the concept stage up and through to the public markets, I know how important it is to be aligned with shareholders who partner with management and roll up their sleeves to make a difference. That partnership is a core principle at Vertu, and I look forward to working with Lisa and the team to share my experience with the next generation of tech founders with bold and ambitious goals,” said Jason Smith.     

Vertu Partners Fund I is managed by Vertu Capital, formed in 2017, a Toronto-based private equity firm that focuses on growth-oriented enterprise software or software-enabled businesses in the Canadian lower mid-market. Founded by Lisa Melchior, a 20+ year private equity professional with a technology track record that includes more than $1 billion of invested capital, Vertu offers deep global sector-focused experience to high potential Canadian technology businesses seeking transformational growth.

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Mogo Expands Into Global B2B Fintech Market with Acquisition of Digital Payments Technology Company Carta Worldwide


VANCOUVER, British Columbia–(BUSINESS WIRE)–Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), a financial technology company focused on empowering consumers with innovative digital financial solutions that help them get in control of their financial health, today announced it has reached a definitive agreement (the “Agreement”) to acquire Carta Solutions Holding Corporation, also known as Carta Worldwide (“Carta”), a leader in providing next-gen digital payments solutions, in an all-stock transaction by way of a plan of arrangement (the “Transaction”). The combination creates one of Canada’s largest vertically integrated fintech companies and significantly expands the Company’s addressable market by entering into the $2.5 trillion global digital payments market.

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VERTU Capital Taps John Windover as Operating Advisor


[Toronto, Ontario, June 2, 2020] VERTU Capital, a private equity firm that focuses on high-potential enterprise software or software-enabled businesses in the Canadian lower mid-market, announced today the addition of John Windover to its operating advisor bench. Mr. Windover is an experienced management consultant with over 22 years of experience advising investors and clients across a wide range of technology sectors. 

  Lisa Melchior, Founder and Managing Partner said, “John has been a trusted advisor both to me and to my Partner Gil Nayot for a number of years and we are delighted to welcome him as an operating advisor. His extensive global experience both conducting due diligence on technology businesses and advising technology clients across a variety of key performance issues will be extremely valuable to Vertu and its portfolio companies. I look forward to working with John as we position Canadian technology firms for continued growth and success.”

“I have worked with Lisa and Gil for years on many successful technology investments and I am absolutely thrilled to advise them and the broader VERTU team.  There is a real need for growth capital for Canadian technology companies which VERTU is uniquely well-positioned to address” said Mr. Windover.

Mr. Windover is currently a Senior Partner and Director in Bain & Company’s Private Equity Practice.  John has assessed hundreds of assets in diligence and worked with the management teams of over 25 Private Equity owned portfolio companies to define and implement value creation plans.  His work with software and other technology companies has included corporate strategy, product development, salesforce effectiveness and operational improvements.  Mr. Windover holds a Ph.D. and M.Sc. in Engineering from the University of California at Berkeley and a B.Sc. in Engineering from Queen’s University where he received the Gold Medal for highest standing across all Engineering programs. Full profile here.

VERTU Capital, formed in 2017, is a Toronto-based private equity firm the focuses on high-potential enterprise software or software-enabled businesses in the Canadian lower mid-market. Founded by Lisa Melchior, a 20+ year private equity professional with a technology track record that includes more than $1 billion of invested capital, VERTU brings deep global private equity experience to high potential Canadian technology businesses seeking transformational growth. 

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VERTU Capital Expands Operating Advisor Network


[Toronto, Ontario, February 13, 2020] VERTU Capital, a Toronto-based technology-focused private equity firm, announced today the expansion of its operating advisory network with the addition of five highly regarded industry experts.

Lisa Melchior, Founder and Managing Partner said, “We are excited to welcome this group of exceptional professionals to our team of operating advisors. The addition of their diverse domain, sector experience and global networks substantially adds to our ability to drive growth and implement operating best practices in our portfolio.  Developing our firm’s  senior-level operations expertise reaffirms our focus on building stronger Canadian technology companies through value-add partnership with top tier talent.”

Who Are They?

Chris Fabre is a veteran middleware executive who has led fast-paced technology companies through disruptive innovation, market expansion and diversification. Mr. Fabre was formerly the Chief Executive Officer of Axway where he served on the Executive Board of Sopra Steria before taking Axway public. He developed global technological leadership and completed seven accretive acquisitions. He is currently the Chief Executive Officer of Sky Republic, an enterprise blockchain company he founded in 2016. Mr. Fabre holds a degree in computer engineering from Université Joseph Fourier and is a graduate of INSEAD’s Management Accelerator program.

Andrea Garson is a seasoned Human Resources Executive and a leading authority on culture, engagement, leadership development, and attracting and retaining key talent. She is the Founder & Principal of Breaking Glass Inc., a boutique HR Consulting firm, and has over 27 years of HR experience working with Tier 1 organizations. During her time as Vice President of Human Resources at Workopolis, the company was recognized with numerous awards, including being the first company honoured by the ‘Canada’s 10 Most Admired Corporate Cultures’ program with the “Best Emerging Organization” distinction.  Ms. Garson holds a Bachelor of Science and an MBA from Dalhousie University.

Rick Huff is a B2B SaaS markets executive with over 25-years of experience driving growth through sales and marketing leadership.  Mr. Huff was one of the founding executives of KUBRA, North America’s leading billing technology solution for utilities. During his tenure he led the company’s growth from USD $250,000 in revenue to over USD $160 million. He also helped manage the sale of KUBRA in 2014 to the Hearst Corporation in New York. Mr. Huff holds an Honors Commerce Degree from McMaster University and is a graduate of the Hearst Management Institute.

Ansa Sekharan is a B2B software customer success executive with over two decades of experience delivering pace-setting transformation(s) in areas of customer experience, service automation and ARR Growth. Under his leadership, his firm has been ranked as number one in customer loyalty in the data integration enterprise software sector for 12 years in a row. Mr. Sekharan was one of the early employees at Informatica and currently serves as the company’s Executive Vice President & Chief Customer Officer. He also serves on the Support Advisory Board at Technology Services Industry Association. He graduated with honors from the University of Tulsa, where he earned a master’s degree in Computer Science. Mr. Sekharan earned a Bachelor of Science in Computer Science from The National Institute of Technology.

Vineet Walia is a veteran technology executive with deep experience in business transformation and strategic planning. He is currently the Executive Vice President and Chief Strategy Officer at Informatica, responsible for accelerating business transformations that drive growth. Prior to Informatica, Mr. Walia held senior leadership roles at Hewlett Packard Enterprise and Juniper Networks, leading company-wide transformations. Mr. Walia holds a Master of Business Administration with honors in Corporate Finance from Bentley University, Massachusetts.

VERTU Capital, formed in 2017, is a Toronto-based mid-market private equity firm focused on enterprise software and software-enabled businesses.  Founded by Lisa Melchior, a 20+ year private equity professional with a track record that includes more than $1 billion of invested capital, VERTU brings deep global private equity experience to high potential Canadian technology businesses seeking transformational growth. 

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Gil Nayot Joins VERTU Capital as Partner


[Toronto, Ontario, November 18, 2019] VERTU Capital welcomes new Partner, Gil Nayot. Gil joins VERTU after more than a decade of global private equity experience focused on technology investing and brings expertise in deal negotiation and execution, asset management and board directorship. 

Gil previously spent 8 years at CPP Investment Board (CPPIB) where he was a Senior Principal responsible for leading the Direct Private Equity Group’s technology vertical. At CPPIB, Gil invested in and worked with several market leading technology and enterprise software businesses.  Prior to joining CPPIB, Gil worked at Lake Capital Partners, a mid-market private equity firm based in Chicago, where he focused on investing in the technology and business services sectors. He also previously worked at Bain & Company in Chicago and Singapore.

  “I am delighted to have Gil join VERTU as a Partner. His exceptional pedigree in global technology private equity and his collaborative approach will add tremendously to the leadership talent of our investment team.” said Lisa Melchior, Founder and Managing Partner.  “Gil is an ideal fit, sharing VERTU’s vision of being a thoughtful investment partner to great Canadian technologies businesses.”

Lisa Melchior, Founder and Managing Partner

 “I am thrilled to be partnering with Lisa and joining VERTU Capital.  As a Canadian that has lived, worked and done business abroad, I’m excited to re-focus my efforts back on my home country, where there is a thriving tech community with growth ambitions that could benefit greatly from thoughtful, local partners with global experiences.”

Gil Nayot, Partner

Gil holds an MBA from the Kellogg School of Management at Northwestern University, a Bachelor of Engineering Science from the University of Western Ontario and a Bachelor of Arts in Honors Business Administration from the Richard Ivey School of Business. Full profile here.

VERTU Capital, launched in 2017, is a Toronto-based private equity firm that invests in Canadian technology companies, with a focus on late-stage growth equity and lower to mid-market buyouts.  VERTU’s mission is to bring deep global private equity experience to high potential Canadian technology businesses seeking transformational growth and looking for an investment thought partner.  We seek to collaborate with management teams that are poised to win on a global scale and share our core values of alignment, fairness and long-term focus.  Form more information on VERTU and its investments please visit http://www.vertucapital.ca.  

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KIM DAVIS JOINS VERTU CAPITAL AS CHIEF OPERATING OFFICER & PARTNER


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[Toronto, Ontario, October 9, 2019] VERTU Capital is pleased to announce that seasoned private equity professional, Kimberly Davis, has joined VERTU as Chief Operating Officer and Partner.  

 “I have known Kim personally and professionally for many years and couldn’t be happier to announce her as a partner. I have tremendous respect for Kim’s expertise and am thrilled to have her on the team. Her depth of experience and breadth of capabilities will bring enormous value to VERTU as we build a world class firm.” , said Lisa Melchior.

Ms. Davis brings over twenty years of private equity experience to VERTU, including five years in Deloitte’s M&A private equity tax practice and fourteen years at TorQuest Partners where she held Chief Financial Officer and Chief Compliance Officer titles.  At TorQuest, Ms. Davis had responsibility for building the firm’s back office, fund formation, LP reporting, compliance, transaction tax structuring and tax due diligence, investor relations, and fundraising.  Ms. Davis also chaired the CVCA CFO Task Force from 2013 to 2018.  Ms. Davis’s experience will be instrumental as VERTU seeks to raise its inaugural fund, VERTU Capital Fund I, L.P., early next year.

“I am very excited to be partnering with a seasoned professional of Lisa’s caliber, and to help her realize her vision of building a leading private equity firm focused on Canadian tech companies.  Lisa is at the forefront of a very compelling market opportunity that will drive significant value for the fund and its portfolio companies, and be a leading force in scaling the Canadian technology ecosystem.”, said Kim Davis

VERTU Capital, formed in 2017, is a Toronto-based private equity firm that invests in Canadian technology companies, with a focus on late-stage growth equity and lower to mid-market buyouts.  Founded by Lisa Melchior, a 20+ year private equity professional with a track record that includes more than $1 billion of invested capital, VERTU brings deep global private equity experience to high potential Canadian technology businesses seeking transformational growth. 

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BDC CAPITAL TEAMS UP WITH VERTU CAPITAL TO ACQUIRE TORONTO-BASED FIRMEX


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BDC Capital and Vertu Capital have partnered to acquire virtual data room (VDR) provider Firmex, from Montreal-based private equity firm Novacap.

Firmex is a Toronto-based company that provides VRD technology on a global scale. According to the company it has more than 120,000 customers that span 80 countries. Founded in 2006, Firmex was originally a portfolio company of Novacap, which acquired the company in 2016.

According to Firmex, Novacap owned a majority share in the company, while its management team owned a minority. BDC Capital and Vertu have now partnered to acquire Novacap’s share, while Firmex will maintain its minority share. Financial terms of the investment were not disclosed.

“It’s been a very hot M&A market for good tech companies in particular, but I kept the standard very high for my first deal.”
 -Lisa Melchior

Vertu Capital is a Canadian technology private equity firm that invests in late stage companies. It was founded by Lisa Melchior, previously a managing director at OMERS Private Equity. The acquisition of Firmex is Vertu’s first investment since it was founded in 2017, Melchior told Betakit.

“It’s been a very hot M&A market for good tech companies in particular, but I kept the bar very high for my first deal,” Melchior explained. “When I met Joel Lessem [president and CEO of Firmex] and got to know the Firmex businesses, I was pretty confident that it would surpass the bar.”

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Lisa Melchior’s Vertu closes inaugural deal, buys Novacap-backed Firmex


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Vertu Capital has teamed up with BDC Capital to acquire Firmex, a Toronto provider of virtual data rooms and secure document sharing solutions.

Terms weren’t disclosed.

Vertu and BDC partnered on the deal with top management, including Joel Lessem, the company’s co-founder and CEO, according to a news release.

Debt financing was provided by Bank of Montreal.

The seller is Novacap’s mid-market tech group, which acquired Firmex in 2016. The deal was the investor’s first in the software/SaaS market of Toronto.

Launched in 2006, Firmex supports complex processes, including diligence, compliance and litigation, for organizations of all sizes and in a range of industries. To date, it has served more than 120,000 businesses worldwide.

Firmex is the inaugural investment of Vertu, a tech private equity firm founded two years ago by Lisa Melchior, a former managing director of OMERS Private Equity.

Melchior’s initial goal was to invest her own and co-investor capital in late-stage tech companies in Canada “seeking breakout growth and needing a partner to get there,” she told PE Hub Canada in 2017.

Once the Toronto firm validated its thesis and built a deal pipeline, it would consider assembling a team and raising a fund, she said.

Since then, Vertu has been sourcing opportunities among tech companies with $20 million-plus revenue and a strategy to expand organically or through acquisitions.

Melchior served with OMERS for more than 17 years, leading North American tech investing.

BDC invested in Firmex through its growth equity group. Led by Claude Miron, a BDC vice president, the group was capitalized in 2017 with $250 million to invest as a long-term minority partner to companies in Canada’s lower-mid market.

Firmex’s acquisition provides an exit to Novacap TMT IV, which raised $380 million in 2014.

Last July, Novacap closed that fund’s successor, Novacap TMT V, securing $840 million.

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