January – December 2009
Les Lyall Joins Kirchner Private Capital
Kirchner Private Capital Group announced that Les Lyall has joined as Managing Partner of Kirchner Investment Management Corporation, the fund management subsidiary of KPCG. KPCG is a North American company that provides investment management, investment banking, and operational transition management services to the private capital industry. The Investment Management group provides venture capital, private equity investment management, and advisory services.
Les has 25 years of operational, private equity, venture capital, and fund management experience. He has served on the boards of private and public companies, has held management operating roles and turnaround assignments, and has worked with companies through the IPO and strategic sale process.
Most recently, Les was COO of GrowthWorks Capital, a Canadian venture fund manager with $750 million of assets under management. While at GrowthWorks, he was previously Senior Vice President responsible for two Ontario based funds totaling $400 million under management. In this role, he also managed the acquisition and consolidation of six venture funds, resulting in a significant investment performance improvement. (March, 2009)
New Brunswick Innovation Foundation appoints Calvin Milbury as CEO
The Board of Directors of the New Brunswick Innovation Foundation is pleased to announce the appointment of Calvin Milbury to the position of president and chief executive officer, effective April 1, 2009. Mr. Milbury joined the foundation in 2003, and has served as vice president of business development since 2004. Since coming on board with the foundation Mr. Milbury has participated in the creation and development of more than 40 innovative companies in New Brunswick, including the now multinational firms Anyware Group and Radian6.
Before joining the foundation, Mr. Milbury worked for Montreal-based venture capital firm Foragen Technologies Management, and BioAtlantech in Fredericton. A New Brunswick native, Calvin is a graduate of the University of New Brunswick’s MBA and BSc programs. (April, 2009)
AVAC Ltd. Appoints New Chairman to Board of Directors
AVAC recently announced that Mr. Art Froehlich has been appointed to the position of Chairman of AVAC’s Board of Directors. Mr. Froehlich took over from Mr. Bob Splane, who has served as Chairman of AVAC’s Board of Directors since July 2007. Mr. Froehlich is a partner of AdFarm, one of North America’s largest agricultural marketing and communications companies, and brings an in depth understanding of Alberta’s value-added industry to the role of Chairman of AVAC’s Board of Directors. Over the past 25 years he has worked extensively in primary food production, agri-business and agri-marketing in Canada, the United States, Europe, South America and Asia, holding senior executive positions with Hoechst Canada and Westcan Malting. (June, 2009)
Management Changes at Desjardins Venture Capital
Desjardins Group has announced the appointment of Ms. Marie-Claude Boisvert to Vice-President, Development Capital and Business Ownership Transfers. As such, Ms. Boisvert will also oversee Desjardins Venture Capital operations. Before her appointment, Ms. Boisvert held the position of Senior Vice-President, Investment and Operations Office, Desjardins Venture Capital, where she has worked since 1994. She has more than 20 years' experience in business financing. (June, 2009)
Cordiant Capital Appoints Graeme Johnson as Managing Director
Emerging markets private equity investor Cordiant Capital has appointed Graeme Johnson as managing director. He will lead Cordiant’s investor relations group and participate in the investment process. Johnson previously worked for the Deutsche Bank Group, in London, as managing director, head of Europe, in the Private Equity Funds Group. He was also a member of the Global Private Equity Investment Committee. While at Deutsche, he served on advisory committees for several high profile European and international private equity funds. Johnson has worked in a similar capacity for other private equity fund investment houses, including LGT Capital Partners and Axa Investment Managers. He has served on the advisory committees for the Novacap II, Novacap III Industry, Advent II, Advent III, Hicks Muse Europe, Kiwi II, Nordea European Buyout II and the Jordan Fund. (June, 2009)
Jeremy Busch Joins Huron Capital as Principal
Huron Capital announced that Jeremy Busch has Joined Huron Capital as a Principal to propel the firm’s growth throughout Canada. With over 13 years of investment expertise working with middle-market business across a variety of industries in Canada and the USA, Mr. Busch will be responsible for driving the Toronto office’s efforts to complete and manage investment opportunities in Canada. Prior to Huron, Jeremy was most recently with TorQuest Partners, a Toronto-based private equity firm. (August, 2009)
Alberta Enterprise Corporation Management Team Announced
In conjunction with the launch of the Alberta Enterprise Corporation’s fund-of-funds, Rod Charko has joined the corporation as Chief Executive Officer. Rod is a seasoned company builder, having been on the management team of four technology startups, as well as an Investment Director of a national venture capital fund.
The corporation is governed by a founding board composed of leaders in the Canadian investment and technology communities. Members include Paul Haggis, former President and CEO of OMERS; Barry Heck, President and Principal Partner of EL Merchant Capital; R. Geoffrey Browne, Founder & Managing Partner of MWI & Partners; Vicky Sharpe, President and CEO of Sustainable Development Technology Canada; and Brad Zumwalt, Founder and Partner of Zinc Ventures. (September, 2009)
OMERS Private Equity appoints senior managing director in Europe
The private equity arm of the Ontario Municipal Employees Retirement System has appointed Mark Redman as senior managing director for Europe. Redman will be responsible for OMERS Private Equity's direct investment strategy across Europe, and will build the investment team in sourcing, executing, and post-acquisition management of direct private equity transactions. Prior to this, Redman worked at FTSE-100 company 3i for 12 years in the London and Amsterdam offices, during which time he also occupied the role of buyout partner. This role entailed a number of mid-market buyout investments across Europe, including UTT, Hyva and ABX. (September, 2009)
Emerald Tech Ventures Staffs Up
Emerald Technology Ventures has announced the addition of two outstanding individuals to the firms General Partnership. Whitney Rockley comes to Emerald with a strong cleantech venture capital track record as well as industrial technology operations experience. Prior to joining Emerald, Whitney had spent the past decade managing cleantech venture capital funds for an international bank, a large Canadian power and water company and Canada’s largest oil and gas company. In addition to her successful venture capital career, she has extensive operational experience in the areas analytics, finance and environment.
Charles Vaslet has been promoted to Partner. He has been with the Emerald team since 2004, most recently as an Investment Director focusing on energy technology related investments. Prior to joining Emerald, Charles held the position of Vice President with ABB Equity Ventures responsible for the development of large renewable energy projects across Europe. In addition, he has 10 years of power utility experience, both engineering and commerce, in the fields of renewable energy and thermal energy plants. He currently serves on the Boards of Emergya Wind Technologies, Senscient and River Basin Energy. In addition, Charles spearheads the European Energy Venture Fair, the preeminent European cleantech investor conference. (September, 2009)
Howard Gwin Joins Toronto Office of Bridgescale Partners
Bridgescale Partners, a California- and Toronto-based investment firm providing equity to high growth information technology companies, announced Howard Gwin has joined its Toronto office as Venture Partner. In his new role, Gwin, a technology industry veteran, will leverage his background and broad network to originate, source and manage new investment opportunities for Bridgescale Partners throughout Canada and the United States. (November, 2009)