Canadian Business Growth Fund
Growth equityToronto · Growth · 30 people tracked
Investment thesis
CBGF aims to be Canada's leading mid-market growth capital investor, addressing the gap in patient minority growth capital faced by established and high-growth Canadian companies. It provides long-term minority equity and strategic support to help entrepreneurs scale their businesses while earning market returns and fostering innovation and economic diversification. The fund was formed by Canada's leading financial institutions as founding shareholders to give the country an independent, private-sector source of growth capital for ambitious mid-market companies across the country.
Source: firm website, verified Aug 17, 2026.
Team · 30 people
from the firm's website & curated & public directories
What they invest in
from 27 of 46 portfolio companiesSaaS ×14Enterprise Software ×10AI & Machine Learning ×5Digital Health ×5Fintech ×4EdTech ×3Healthtech ×3Marketing Tech ×3
HQs:Canada×16United States×1
Who they back
founder profiles across 13 portfolio companiesFounding team size:solo founder×72 founders×54+ founders×1
Investments · 46 tracked
founders shown can be your intro pathBy year:2023 · 12018 · 12 dated
Toronto
Robert Madej(Executive Officer, Director)Emma Purdy(Director)James Norman Roche(Director)Vamsi Yadlapati(Director)
Board seatDale Tingley· per SEC Form D
Appficiency is a NetSuite consulting firm that designs and implements enterprise resource planning (ERP) solutions for mid-market and Fortune 500 companies across construction, professional services, manufacturing, and other industries.
Cloud ComputingConstruction TechEnterprise SoftwareSaaSToronto, CA
Johnny Than(CEO & Founder)Mike Diep(Co-Owner)
Appnovation provides nearshore software development and digital transformation services through distributed teams based in the Americas, Europe, and Asia, with specialized expertise in high-compliance industries like finance, healthcare, and insurance.
AI & Machine LearningDeveloper ToolsDigital HealthEnterprise SoftwareVancouver, CA
Arnold Leung
Busbud is a platform that aggregates and enables booking of intercity bus tickets from thousands of bus operators across 80+ countries.
B2B MarketplacesMarketplacesSaaSTravel & HospitalityMontreal, CA
Louis-Philippe Maurice(CEO)Michael Gradek(CTO)Frederic Thouin(Chief Analytics Officer)LP Maurice(Founder)inDavid Burridge(Secretary and VP Finance and Corporate Development)Erik Blachford(Director)
Co-investorsK3 VenturesOMERS VenturesPlaza VenturesWIND VenturesInovia Capital
Capficiency is a private equity firm that identifies investment opportunities in the lower-middle market and works with portfolio company management teams to drive operational growth and value creation.
Enterprise SoftwareSaaSSector AgnosticToronto, CA
Michael Diep(Co-founder & Managing Partner)Johnny Than(Co-founder & Partner)
Cold Bore Technology builds digital completions data software for oil and gas well completion operations, including SmartPAD (a digital twin providing a standardized real-time dataset), IntelliSONIC (high-frequency pressure and acoustic monitoring), and OffsetWELLS (real-time FDI monitoring).
Data & InfrastructureEnergySaaSCalgary
Brett Chell(Director)ALEX FORTIN(Chief Technology Officer)SHANE CASSELL(Chief Revenue Officer)BLAIR LAYTON(Interim Chief Executive Officer and Chief Financial Officer)Cameron Brett Chell(Director)
BoardJAMIE LEARMOUTH(Director)
Co-investorsRice Investment Group
FundThrough provides invoice factoring and funding technology that lets small businesses convert unpaid invoices into working capital quickly.
FintechSaaSToronto, CA
Steven Uster(Co-Founder & CEO)in
Co-investorsScaleUP Ventures
IT Services and Consulting company based in Mississauga, ON.
Librestream offers Onsight NOW, a service intelligence platform that combines real-time video collaboration, AI-driven guidance, and automated reporting to support industrial field service technicians.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareSaaS
Co-investorsEmerald Technology Ventures AgEvergy Ventures
Lift Auto Group is an operator and consolidator of collision repair shops, growing by acquiring smaller independent operators across Canada.
Mobility & TransportationKelowna, CA
Mark Reineking(President & CEO)
Litco LSO is a legal support organization and network of law firms designed to help practices operate more efficiently through technology, specialized staffing, and operational improvements.
Enterprise SoftwareLegalTechNot stated, CA
Todd Litwiniuk(Founder)Fred Litwiniuk(Founder)
Minus Solutions provides food and liquid waste collection, recycling, and diversion services for commercial producers, offering customized equipment solutions and onsite waste management options.
Circular EconomyCleantechFoodTechLogistics & Supply Chain
Co-investorsKensington Capital Partners Limited
PayBright was a Canadian buy-now-pay-later provider offering installment loans to shoppers, whose operations have been folded into Affirm's unified service for Canadian customers.
Fintech
PIANO PIANO is an Italian restaurant serving traditional Italian dishes such as pasta, pizza, and gelato.
ConsumerToronto, CA
Victor Barry(Chef & Owner)
ProcedureFlow builds software that converts static documents and PDFs into navigable, executable knowledge for teams and AI agents.
AI & Machine LearningEnterprise SoftwareSaaSSaint John, CA
Daniella DeGrace(Founder)
Prodigy develops game-based learning platforms that teach math and language arts to elementary and middle school students through engaging, adaptive gameplay.
EdTechGaming
Alex Peters(Co-Founder & Co-CEO)Rohan Mahimker(Co-Founder & Co-CEO)
Co-investorsCeltic House Asia PartnersCeltic House Venture Partners
SnapOn Software (formerly KWIZ, ProvisionPoint, and Appficiency SST) develops add-on software for Microsoft 365 and Oracle NetSuite environments, covering collaboration and productivity, security, compliance, and governance.
Developer ToolsEnterprise SoftwareSaaS
Specialty Medical Partners provides operational and administrative support services to medical practices, allowing physicians to focus on patient care.
Digital HealthEnterprise SoftwareHealthtech
Olia Galeva(Chief Operating Officer)inGraham Neil(Chief Financial Officer)Dr. Robert Wald(Chief Strategy Officer)Dr. Krishna Sharma(Director of Physician Engagement)Kenrick Sylvestre(VP of Corporate Development)
A video platform aggregating highlights from 250+ premium content partners and major sports leagues, offering exclusive web distribution rights to curated entertainment, lifestyle, business, news, travel, and finance content.
AdTechAI & Machine LearningDigital HealthMedia & Entertainment
ChangeMakers is a Canadian consultancy offering PR and reputation management, social impact consulting, marketing and advertising, organizational change management, and agribusiness and international trade services.
HealthtechImpact & Social GoodMarketing Tech
Co-investorsYaletown Partners
Vendasta is an AI customer acquisition and engagement platform that automates marketing, sales, and operations for small businesses and their service partners using integrated AI employees and data.
AI & Machine LearningMarketing TechSaaSSales TechSaskatoon, CA
Brendan King(Chief Executive Officer)in
Co-investorsFoundryVanedge CapitalVanedge Capital Limited Partnership
Portfolio news
latest coverage across their companiesFundThrough · finder.com · Apr 6, 2026
Frequently asked questions
- How many investments has Canadian Business Growth Fund made?
- Canadian Business Growth Fund has 46 tracked investments.
- What stage does Canadian Business Growth Fund invest at?
- Canadian Business Growth Fund invests at the Growth stage.
- What is Canadian Business Growth Fund's typical check size?
- Canadian Business Growth Fund typically writes checks of $3.6M – $14.6M.
- What sectors does Canadian Business Growth Fund focus on?
- Canadian Business Growth Fund focuses on Cleantech, Consumer, Data & Infrastructure, EdTech, Enterprise Software, Fintech, Healthtech, Media & Entertainment, Mobility & Transportation, PropTech, SaaS, Sector Agnostic.
- Where is Canadian Business Growth Fund located?
- Canadian Business Growth Fund is headquartered in Toronto, CA.
- Does Canadian Business Growth Fund lead rounds?
- Canadian Business Growth Fund typically participates in rounds rather than leading them.
- Who does Canadian Business Growth Fund co-invest with?
- Canadian Business Growth Fund most often shares deals with Emerald Technology Ventures Ag, Foundry, OMERS Ventures, among 14 tracked co-investors.
Media · Podcasts & interviews
featuring the teamA conversation with Dale Tingley, Co-Managing Partner at Canadian Business Growth Fund | BDO Canada
BDO Canada LLP · Dale Tingley
CBGF Testimonials (English)
Canadian Business Growth Fund
Images
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