TVM Capital Life Science and Caisse de dépôt et placement du Québec (CDPQ) are the 2019 recipients of the Canadian Venture Capital & Private Equity Association‘s (CVCA) Deal of the Year awards.
TVM Capital won in the venture capital category for the 2018 sale of AurKa Pharma, a Montréal-based developer of a cancer treatment for solid tumors, to Eli Lilly. The US$575 million deal generated an IRR of 348 percent and 9.3 x multiple of invested capital.
CDPQ won in the private equity category for the 2018 sale of Camso, a Magog, Québec-based maker of off-the-road tires and rubber tracks to Michelin. The transaction was valued at US$1.45 billion.
CVCA Announces 2019 Deal of The Year, Private Capital Regional Impact Awards, and Ted Anderson Community Leadership Award Recipients
TVM Capital Life Science and CDPQ recognized for outstanding returns in VC and PE; Novacap and New Brunswick Innovation Foundation win Regional Awards; Jeff Parr, Vice Chairman and Managing Director at Clairvest recognized for leadership and non-profit involvement
Vancouver, BC – June 5, 2019 – The Canadian Venture Capital and Private Equity Association (CVCA) today announced winners of its annual Deal of the Year awards during its annual Invest Canada ’19 conference taking place in Vancouver.
• Montreal-headquartered TVM Capital Life Science won in the venture capital category for its investment in Montreal-based AurKa Pharma.
• Montreal-based CDPQ won in the private equity category for its investment in Magog-based Camso.
• Montreal-based Novacap won the Private Capital Regional Impact Award for Western Canada in the private equity category for its investment in Onstream Pipeline Inspection Services Inc.
• New Brunswick Innovation Foundation (NBIF) won the Private Capital Regional Impact Award for Atlantic Canada in the venture capital category for its investment in Envenio.
• Jeff Parr, Vice Chairman and Managing Director of Toronto-based Clairvest, is the recipient of the 2019 Ted Anderson Community Leadership Award.
2019 Venture Capital Deal of The Year Award
TVM Capital Life Science is a group of independent investment advisories and fund managers for venture capital funds investing into innovative biotech, pharmaceutical, and medtech companies in Europe, Canada, the USA, and Asia, with teams based in Munich and Montreal. TVM Capital Life Science won the 2019 Venture Capital Deal of the Year Award for its investment in AurKa Pharma.
AurKa Pharma was established in 2016 to develop oncology compound AK-01, a compound originally discovered through one of Eli Lilly and Company’s research and development programs, with the potential to treat certain types of solid tumors, including small cell lung cancer and treatment resistant breast cancer. The project was fully financed by TVM Life Science Ventures VII since 2016. Eli Lilly acquired AurKa Pharma in May 2018. As a result of the acquisition, TVM Capital received an internal rate of return of 348% and 9.3x multiple of invested capital. AurKa Pharma was also led by a female CEO.
2019 Private Equity Deal of The Year Award
Caisse de dépôt et placement du Québec (CDPQ) is an institutional investor that manages several public and parapublic pension plans and insurance programs in Quebec. CDPQ has won the 2019 Private Equity Deal of the Year Award for its investment in Camso.
Camso serves the material handling, construction, agriculture and powersport industries by manufacturing and distributing off-the-road (OTR) tires, wheels, rubber tracks and track systems. Headquartered in Magag, QC, Camso was founded in 1982. CDPQ was a partner with Camso for 18 years, with its first investment dating back to June 2000.
2019 Ted Anderson Community Leadership Award
Jeff Parr, Vice Chairman and Managing Director of Toronto-based Clairvest, is the recipient of the 2019 Ted Anderson Community Award for involvement in multiple non-profits. In addition to supporting Canada’s economic productivity, the Ted Anderson Community Leadership Award recipient also fosters strong corporate social responsibility as a foundation for building solid vibrant communities. The award recognizes the commitment of time and effort to an organization or cause over several years.
Jeff has been a member of the Shaw Boxing Fundraising Committee since 2002 at the Shaw Theater in Stratford, ON. At the University of Western Ontario, he is a member of the UWO President’s Council and Investment Committee and has been a university BMOS Faculty Sponsor and Parkinson’s Student Research Sponsor. In Moncton, NB, Jeff initiated and sponsored, along with Clairvest, the creation of Education Trust Funds for the children of the fallen RCMP officers in 2014. And, in the battle against Parkinson’s Disease, Jeff has been pedaling for the cause, leading Team Paff and team Growling Beaver, holding a Lead Sponsor, contributor, and fundraiser position since 2013. He was also a Parkinson’s Student Research Sponsor at the University of British Columbia. Jeff and Clairvest sponsor Camp Oochegeas’ Erace Cancer cycling team. He is also a donor and lead fundraiser for a Nurse Practitioner at the Sanctuary Ministries in Toronto.
Private Capital Regional Impact Awards
Western Canada: Montreal-based Novacap won the Private Capital Regional Impact Award for Western Canada in the private equity category for its investment in Onstream Pipeline Inspection Services Inc., which was founded in Calgary, AB in 2005.
Onstream uses advanced technologies to provide reliable and accurate pipeline inspection results to producers and pipeline operators, with a focus on continual technological and software advancement. Onstream contributed to the prioritization of safety standards by providing superior inspection services. Since Novacap’s investment in November 2015, the company has created 76 jobs in Western Canada.
Atlantic Canada: New Brunswick Innovation Foundation (NBIF) won the Private Capital Regional Impact Award for Atlantic Canada in the venture capital category for its investment in Envenio, founded in Fredericton, NB in 2016.
Envenio is a Computational Fluid Dynamics (CFD) technology company. Its customers benefit from simulations that compute up to 10x faster and are thus more efficient and capable of running additional modeling scenarios. Approximately 15 jobs have been created since NBIF’s first investment into Envenio. Envenio has been able to successfully attract capital into a non-traditional tech hub in Atlantic Canada.
About the CVCA
We’re how collaboration happens and how innovation and growth thrive. The CVCA is Canada’s professional association for the venture capital and private equity industry. Our services and support establish a favourable and competitive ecosystem and lay the foundation for greater collaboration, innovation, growth and market intelligence. We strongly advocate for fair and competitive policy to keep our industry energized. From coast to coast, we bring members together; connecting private capital professionals to each other generating meaningful partnerships, enabling connections to foster and knowledge to prosper. We’re also the nation’s ultimate resource for data on Canadian private capital investments. Please visit: www.cvca.ca/.
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