Portfolio Companies

Portfolio Companies

BetaKit: FIRMEX ACQUIRED BY US-BASED DATASITE IN VERTU CAPITAL’S FIRST EXIT


BY JOSH SCOTT

Toronto-based virtual data room (VDR) company Firmex has been acquired by fellow VDR provider Datasite. The financial details of the deal were not disclosed.

Created in 2020 with the sole purpose of helping to recapitalize Dejero, UbiDatasite has acquired 100 percent of Firmex from majority shareholders Vertu Capital and BDC Capital, and Firmex’s management. The acquisition comes about two and a half years after Toronto-based Vertu and BDC teamed up in early 2019 to acquire a majority stake in Firmex from Québec investor Novacap, Firmex’s only other investor aside from the company’s management team.

Real the full article here.

Portfolio Companies

Vertu Capital and BDC Capital Announce Strategic Sale of Firmex


Exit highlights value generating partnership with high-growth tech firm

Toronto, Ontario,  July 26, 2021.  Vertu Capital, a private equity fund specializing in high potential, Canadian-headquartered technology companies, and BDC Capital are pleased to announce the strategic sale of Firmex, a global SaaS-based provider of virtual data rooms, to Datasite®, a leading SaaS-based technology provider for global mergers and acquisitions (M&A) professionals.

The sale comes just over two years after Vertu Capital, in partnership with BDC Growth Equity Partners Fund I, acquired majority ownership of Toronto-based Firmex, and marks Vertu’s first exit since the firm was launched in 2017. Since partnering with Vertu, Firmex has generated double-digit revenue and EBITDA growth. Its accelerated growth and sale to a strategic buyer underscores Vertu’s ability to quickly deliver value for high potential companies and investors.

“Our partnership with Vertu has been a game-changer for Firmex,” said Joel Lessem, Firmex CEO and Co-Founder. “Lisa Melchior and the Vertu team brought deep domain and operational expertise that allowed us to take what was already a fast-growing, market leading company, to the next level. Vertu not only understood the potential of our platform, but brought a collaborative and creative approach to partnering that allowed us to more fully realize the underlying value of the business. We could not have hoped for a better partner.”

Founded in 2006, Firmex is the world’s most widely used virtual data room provider, trusted by more than 4,200 companies in 110 countries, including leading global financial institutions, law firms, and governments. Firmex’s secure and intuitive SaaS solution allows for the sharing of large volumes of confidential documents and mission-critical undertakings, including financial transactions, litigation and compliance across a range of industries.

With its cloud-based offering and world class security, Firmex is positioned for continued strong growth as organizations look to enhance their online collaboration in a safe and secure environment.

“At Vertu, we take a very selective approach to the companies we invest in. Firmex was Vertu’s first investment, and we knew we had a winner.  They had an excellent management team, with a scalable technology and a unique SaaS-based operating model,” said Lisa Melchior, Managing Partner and Founder of Vertu Capital. “This strategic sale highlights the success of our investment thesis, and I am very pleased to be delivering significant value for our investors.”

“We are proud to have supported Firmex in its growth journey and it has been a pleasure working with Joel, Lisa, and the entire team over the last few years to help scale a Canadian leader,” added Loren Rafeson, Partner, BDC Growth Equity Partners. “We look forward to following the next phase of Firmex’s growth.”

The Firmex sale follows Vertu’s most recent investment in Dejero, a Waterloo, Ontario-based global provider of live video and real time data solutions. Vertu led a $60-million recapitalization of Dejero in April, 2021, taking a minority stake in the company. The Dejero investment is the first to come out of Vertu’s inaugural fund, Vertu Partners Fund I.

About Vertu Capital

Vertu Capital is a private equity firm that invests in high potential, Canadian-headquartered global technology companies. Vertu partners with the management teams of market leading and scaling companies to accelerate and support the next stage in their growth strategy. Founded by Lisa Melchior, former Managing Director with OMERS Private Equity, Vertu’s partners have decades of global tech private equity experience with deep domain expertise in software and software enabled business models. Vertu’s team brings sector best practices, actionable value creation strategies and a deep network to optimize company performance through all phases of growth.  For more information, please visit www.vertucapital.ca.

About BDC Capital

BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to growth equity, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.

Media Contact

Contact : Laura Auquilla

Email : lauquilla@vertucapital.ca

Portfolio Companies

BetaKit: VERTU CAPITAL SECURES MINORITY STAKE IN DEJERO WITH $60 MILLION INVESTMENT


BY JOSH SCOTT

Waterloo-based company Dejero, which provides communications connectivity tech, announced a $60 million CAD minority recapitalization deal led by Toronto’s Vertu Capital. The investment, which will see Vertu acquire a minority stake in Dejero, was supported by Ubicom Ventures.

Created in 2020 with the sole purpose of helping to recapitalize Dejero, Ubicom is a special purpose investment fund managed by three Bay Street investors in partnership with Dejero’s founder Bogdan Frusina and CEO Bruce Anderson.

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