Montreal-based private equity firm Novacap has raised over USD $1 billion USD for its first fund dedicated entirely to digital infrastructure. Backed by institutional investors, family offices, and high-net-worth individuals globally, the fund exceeded its original $750-million USD target.
The fund aims to invest up to $100 million in 10 regional companies offering connectivity and data access services. Novacap CEO Pascal Tremblay attributes demand to AI-driven growth.
Initial investments include INdigital, All West Communications, Communications Tower Group, and H5 Data Centers. Founded in 1981, Novacap manages over $10 billion CAD in assets.
Want to know more? Check out the source code on Betakit.