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CVCA Annual Conference - May 20-22, 2014 - The Westin Ottawa



Download the CVCA Conference Mobile App on your smart phone!
The link to download is: http://bit.ly/cvcaapp . Use the app to get the current agenda, speaker bios and photos, list of attendees, list of sponsors and partners, site map, and a CVCACAM to take and share fun photos to Facebook or Twitter.

Share in the conference coverage and add your voice to the conversation – use #CVCA2014 in your tweets leading up to and throughout the conference!

THANK YOU FOR ATTENDING!!
We had over 500 industry professionals and influencers from across the country and around the world. 



Our Master of Ceremonies

  Tom Clark
Chief Political Correspondent
Global Television Network

We are pleased to welcome Tom Clark as our Master of Ceremonies at our 2014 Annual Conference.

Tom Clark is one of Canada’s most recognized and respected journalists. For more than 40 years, he has witnessed and written history in Canada and around the world. At home he has interviewed every prime minister since Lester B. Pearson and covered every federal election campaign since 1974.  Abroad, he was the bureau chief in Beijing during the early 1980′s, and spent five years as the bureau chief in Washington DC. In that posting, he interviewed President George Bush, the first time any American president had been interviewed by a Canadian television network.  Besides his permanent postings, Tom has spent much of his career travelling the world, reporting from 33 countries. Tom has reported from six active war zones, most recently from Afghanistan. He was also one of only a handful of journalists who made it into Belgrade to witness the bombing of Yugoslavia. He was in Berlin the night the wall came down, in Moscow’s Red Square when the hammer and sickle was lowered for the last time, and in Tiananmen Square the night the Chinese army attacked.  Journalism is in Tom’s blood – his great-grandfather, Joseph T. Clark, was editor of Saturday Night and editor-in-chief of the Toronto Star. His grandfather was a reporter with the Star, and his father helped spearhead Canada Newswire. Tom was born in Toronto, is fluently bilingual and spends what little free time he has flying his floatplane in Canada’s north.

 


Our Entertainment

The comedy of DEREK EDWARDS has made him one of the hottest properties in Canada. A regular at the Just For Laughs Festival in Montreal, where he was recently hailed as a “virtuoso at the peak of performance”, Derek’s comedic gift is in making the ordinary extraordinary.
Derek has been featured on numerous radio and television comedy shows, is a two time Gemini nominee, and has been voted Canadian Comedian of the Year.

“still the funniest man in Canada” – Toronto Sun

“5 STARS – the funniest man on earth” – Winnipeg Free Press

“4 STARS – a first rate comic…the crowd howled” –Victoria Times Colonist

“Edwards reigns as King of Canadian comedy” – Charlottetown Guardian

“Derek Edwards is hysterical” – Calgary Sun

 

Tuesday May 20, 2014
   
11:30- 4:00 pm  

CVCA Hockey Challenge - Investors versus Ottawa Start-Ups

LINK TO VIDEO FROM HOCKEY GAME

 

Bell Sensplex (Ottawa West) , 1565 Maple Grove Road, Ottawa
This game was sponsored by Invest Ottawa

   
2:30 – 7:00 pm

Conference Registration

3:00 - 5:00 pm


3:00- 4:00 pm















4:00 - 5:00 pm

Workshops hosted by KPMG      NEW - Open to all registered conference attendees

Workshop A: Board Governance for PE / VC Owned Companies
This workshop will address the unique elements of board governance in privately owned companies, including:
•The role of a corporate director at a portfolio company
•Determining if it’s better to be a board director, advisor or observer
•Knowing where your fiduciary obligations lie
•Identifying conflicts and knowing when to recuse
•Appointing the deal-sponsor or independent director on portfolio company boards
•Knowing your responsibilities as a director and what you need to do to stay out of prison (e.g., Foreign Corrupt Practices Act/Anti-Money Laundering)


Presenters:
Rob Brouwer, Managing Partner, Clients and Markets, KPMG Canada
John MacIntyre, Co-Founder, Birch Hill Equity Partners
Richard Powers, Rotman School of Management
Derek Rostant, Partner, Forensic Consulting, KPMG Canada


Workshop B: Designing Management Compensation Arrangements
This workshop will discuss the various types of management compensation arrangements used to incent management teams at your portfolio companies, and to align their interests with those of the fund sponsor. The tax treatment of various alternatives will be reviewed. Do not miss this session if you oversee or supervise portfolio companies in this very important process!

Presenters:
Jocelyn Blanchet, Partner, M&A Tax, KPMG Canada
Ron Ferguson, Partner, Stikeman Elliott
Johanna Gerrie, M&A Tax, KPMG Canada
           


4:00 – 5:00 pm


Canadian Women in Private Equity’ Reception

5:00 – 7:00 pm Welcome Cocktail Reception
   
Wednesday, May 21, 2014
   
7:30 am Breakfast Buffet
   
8:30 - 9:00 am Welcoming Remarks
   
9:00 -9.30 am

Session 1: Opening Keynote address:

Robert Deluce, President and CEO, Porter Airlines 

'Piloting growth at Porter Airlines'
Porter Airlines grew up during one of the most turbulent economic environments in modern memory. Now more than seven years on since its first flights, the airline is looking to solidify gains and position itself for future growth. Learn how private equity played a crucial role in getting Porter off the ground and sustained its momentum in an industry known for cut-throat competition.

   
9:30 -10:15 am

Session 2:  Private Equity and Strategic Investors:  How Canadian CEO’s Choose their Equity Partner
Private equity firms and strategic investors represent an important succession option or source of growth capital for Canadian enterprises.  How do Canadian CEOs assess the benefits and risks each brings to the table and chose one over the other?  Which of these investors’ interests are most often aligned, or misaligned, with those of the company and its management?  Do the CEOs feel their partners delivered on their value propositions -  the 3 R’s roles, responsibilities and results?  We ask our panel to share their experiences-  the good, the bad and the still to be written.

Moderators:
Brian Lenihan, Partner, Choate, Hall & Stewart LLP

Speakers:
Santiago Faucher, Global Director, Technology Development, Hatch
Mike Hartmann, Executive Vice President, BioAmber
Boris Novansky, Managing Director, Kirchner Group
Gord Peters, President, Cando Rail Services
Art Robinson, Partner, 32 Degrees Capital

   
10:15 – 10:45 am Coffee / Networking Break
   
10:45 –11:15 am Session 3
 

Keynote Speaker – George Gosbee, Chairman & CEO, AltaCorp Capital Inc. and co-owner of Phoenix Coyotes

Interviewed by Alison Nankivell, Vice President, VCAP, Business Development Bank of Canada

   
11:15 – noon

Session 4: The Internet of Things – The Next Evolution of the Internet
“It took the internet 8,000 days to connect 2.5 billion people. In the next 2,900 days, 37 billion things will join the internet". The Internet of Things (IoT) is a concept as broad as its name but the implications hold significant business value. There are two key segments to the IoT, Human and Industrial. Many people are familiar with the exploding Human IoT segment with exciting products and companies such as Fitbit, August, Pebble and Nest. On the other end of the spectrum, the Industrial IoT holds the promise of connecting field assets and increasing the efficiency of every industry in the world from transportation to oil & gas. Join this panel as they discuss the next major evolution of the Internet.

Moderator: Scott Macdonald, Co-founder, McRock Capital
Speakers:
Jeffrey Dungen, CEO, reelyActive
Simon Olivier, Vice President - Growth, Market Strategy and Business Development (M&A), GE Canada
Carl Stjernfeldt, Senior Venture Principal, Shell Technology Ventures
Victor Woo, General Manager, Internet of Things, Cisco

   
12:00- 1:30 pm Luncheon
  CVCA’s VC and PE 'Deal of the Year' Awards Ceremonies (Link to CVCA Awards Page )
   
1:30 -2:00 pm Keynote Lunch Speaker:
Elyse Allan, President & CEO, GE Canada
   
2:15 - 3:15 pm

Session 5A: (VC Concurrent) Perspectives From the Front Lines: CEOs From Some of Canada’s Best Exits Share on the Value Added of Their Venture and PE Investors
This panel discussion will tap into the experiences of several CEOs of Canada’s leading PE/Venture investments for perspectives on how their sponsors helped on the road to success. They will discuss how they effectively utilized the experience and input of their sponsors to grow and exit the investment.  A sponsor can be a critical asset and leverage point, providing meaningful counsel and timely advice to the CEO. But they can also get in the way.  Learn how these CEOs leveraged their sponsors to create value and, ultimately, world class exits.    

Moderator: Sean Silcoff, Business Reporter, Globe and Mail
Speakers:
Marcel LeBrun, SVP/Chief Product Officer, Salesforce.com, (was CEO of Radian6)
Marzio Pozzuoli, Founder CEO, RuggedCom
Jay Rosenzweig, CEO, Rosenzweig & Company Executive Recruitment

   
2:15 - 3:15 pm

Session 5B: (PE Concurrent) Opportunities and Challenges in the Evolving Secondary Market
The private equity secondaries industry has grown from a few investors to becoming a full-fledged asset class over the last 15 years. With recent record amounts of capital raised for secondary funds by investors attracted by past proven returns, will there continue to be attractive buying opportunities in the future? The panel will provide insights and perspectives on the recent evolutions in the secondary market including pricing and returns, cyclicality, regulatory issues, investor motives and an outlook on the space.

Moderator: Lorne Jacobson, Co-founder and Senior Managing Director, Triwest Capital Partners
Speakers:
Sebastien Burdel, Partner, Coller Capital
Gerald Cooper, Managing Director, UBS
Michael Flood, Managing Director, Northleaf Capital Partners
David F. Philipp, Managing Director, Crestline-Kirchner Private Equity Group

   
3:15 – 3:45 pm Coffee / Networking Break
   
3:45 - 4:45 pm

Session 6A: Impact Investing and Environmental, Social and Governance (ESG) strategies
Environmental, Social and Governance (ESG) strategies and Impact Investing have experienced increased visibility within the private capital universe. This panel will explore the factors contributing to this trend, including a push from LP’s and large customers alike. It will also discuss how such investing is financially responsible and can enhance investment returns. The range of investors on the panel will discuss how they incorporate ESG and Responsible Investment into their individual investment approaches.

Moderator: Tim Jackson, Sr. Advisor, Capital, MaRS Centre for Impact Investing
Speakers:
Tanya Carmichael, Director, Ontario Teachers' Pension Plan
Andrew Heintzman, President and CEO, Investeco Capital Corp.
Beth Lowery, Senior Advisor for Environment and Sustainability, TPG Capital, L.P.
Signi Schneider, Vice President, Corporate Social Responsibility, Export Development Canada

   
3:45 - 4:45 pm Session 6B: Current trends and Solutions in today’s Debt Environment
 

The Debt Panel will examine current trends and the latest Senior and Junior  Debt solutions available to Private Equity Sponsors looking to fund mid-market portfolio companies in Canada and the US. The panel will focus on country specific and cross-border debt options available for Sponsored borrowers with EBITDA of $5 million to $75 million, including:

  • Senior Debt structures incorporating nominal amortization term loans, stretch debt, as well as ABL or ABL / term loan combinations in bifurcated structures
  • Junior Debt alternatives from sub-debt to second lien to high-yield
  • Unitranche facilities blending senior and junior debt in seamless facilities
  • Lender appetite to fund buy-outs, refinancing and dividend recaps
  • Cash Flow based Enterprise Value loans versus Asset backed (ABL) structures
  • Terms and conditions available in today’s aggressive lending environment will be fully explored  

LINK TO POWER POINT PRESENTATION FOR THIS SESSION

Moderator
: Andrew Luetchford, Partner, Corporate Finance, Deloitte 
Speakers:
Blair Cowan, Vice President, CIBC
Vipon Ghai, Senior Managing Director, Manulife Capital
Richard Kinlough, Managing Director, GE Antares Capital
Joe Mattina, Head of Canadian Credit, Apollo Management
Susan Rohac, Vice President, BDC Subordinate Financing
David Torrey, Managing Director, Credit Capital Markets, National Bank Financial

   
6:00 – 7:00 pm Gala Cocktail Reception
Featuring NHL Alumni greats: Darryl Sittler, Mike Babcock and more!
   
7:00 – 10:15 pm Gala Dinner and Awards Ceremony
 
Guest Speaker: Mike Babcock, Head Coach of Canada's gold medal-winning men's Olympic hockey team for the Sochi 2014 Olympic Winter Games.
CVCA's Awards Ceremony and the Presentation of:
   Entrepreneur of the Year Award
   The Ted Anderson Community Leadership Award
   BDC’s Innovation Award

Entertainment - Comedian - Derek Edwards!
           
   
10:15 pm – midnight Whisky and Wine Tasting
   
Thursday, May 22, 2014
   
7:30 am Breakfast Buffet
   
8:30 - 9:30 am

Session 7A: (VC Concurrent) Rise of the Corporate VCs
Lessons learned from corporate venture capitalists; aligning strategic investor and financial investor interests, optimizing corporate VC relationships, setting expectations, what they are looking for, their view on Canada's ecosystem and the Canadian opportunity. 

Moderator:  Sean Brownlee, Partner, Rho Canada Ventures

Speakers:
Sean Cunningham, Director, Strategic Investments, Intel Capital
Sebastian Titz, Manager New Ventures - North America, 3M
Jeff Yu, Investment Principal, Robert Bosch LLC

   
8:30 - 9:30 am

Session 7B: (PE Concurrent) Canadian NHL Teams Can Play Outside North America – So Can Canadian Private Equity Investors
Some Canada-headquartered firms make direct private equity investments outside North America. This panel will compare and contrast investing in Canada, the US and markets beyond. What are some different approaches, challenges and opportunities associated with each?

Moderator: Matthew Cockburn, Partner, Torys LLP
Speakers:
Jim Fasano, Vice-President, Head of Funds, Secondaries & Co-Investments, CPPIB
Luis Fonseca, Director, OMERS Private Equity
Doug Hewson, Managing Partner, Portland Private Equity
Jonathan M.A. Melmed, Partner, Chair, Canada Practice, Co-Chair, Private Equity & Buyouts, Morrison & Foerster LLP
Dave Nowak, Managing Partner, Brookfield Capital Partners

   
9:30 –10:00 am Coffee / Networking Break
 
10:00- 11:00 am Session 8: Exits
What are the exit options today? How is the exit market and where is it headed? Is it different for Canadian companies than for U.S. or ROW companies? What are valuations and where are they headed? What do you do to prepare for an exit? What is the role of VC, private equity and corporates? The panel includes representatives from VC, Corporate VC, Private Equity and Corporates and will examine these and other issues surrounding exits.

Session Introduction by:
Alain Denis, Senior Vice-President, New Economy, Fonds de solidarité FTQ,

Moderator
: David Iverson, Managing Director, Lazard Middle Market
Speakers:
Erik T. Kahler, SVP – Corporate Development, Treehouse Foods
Dan Park, Vice President, Azure Capital
David L. Pierson, Managing Director, Syngenta Ventures
Robert Wadsworth, Managing Director, HarbourVest Partners LLP
Rob V. Wildeman, Managing Director, Tricor Pacific Capital 

   
11:00 – 11:45 am Session 9: The Current State of Canadian Private Equity
How Canadian private equity has changed over the past five years. What are the new challenges PE fund managers are facing? How are Canadian PE Fund managers dealing with the increased presence of US fund managers in the Canadian eco-system and how are they differentiating themselves in an increasingly crowded North America market? How international should Canadian PE fund managers be both in their investment reach/affiliations to other international funds as well as in their LP base?

Moderator: Shahir Guindi, Partner, Osler, Hoskin & Harcourt LLP
Speakers:
Brent Belzberg, Founder and Senior Managing Partner, TorQuest Partners
Cody Church, Co-founder and Senior Managing Director, Triwest Capital Partners
Stephen J. Dent, Founding Partner and Partner, Birch Hill Equity Partners
Michael Lay, Managing Partner, ONCAP
 
   
11:45 – 12:30 pm Session 10: Drafting the Right Team – The Limited Partner Perspective
This panel features prominent Canadian and International LP’s and will focus on the importance of “drafting the right team” for an LP’s portfolio. This panel will discuss what characteristics an LP looks for in a team when making an investment decision as well as touch on general industry best practices.

Moderator: Kathy Jeramaz-Larson, Executive Director, ILPA
Speakers:
Martin Day, Partner, Caledon Capital Management
Nicolas Drapeau, Head of Infrastructure and Private Equity Investments, Bimcor Inc.
Jeff Pentland, Managing Director, Northleaf Capital Partners

   
12:30 – 12:45 pm Closing Remarks
   
12:30  –2:00 pm Networking Lunch
   

2014 Organizing Committee


Chair: Wally Hunter (EnerTech Capital)
Vice Chair; Alison Nankivell (BDC)
Sean Brownlee (RHO Canada Ventures)
Aki Georgacacos (Avrio Ventures)
Rebecca Giffen (Alberta Enterprise Corp)
Eileen Greene (HUB International)
Lauren Harris (Northleaf Capital Partners)
Bobby Hobbs (Hobbs & Towne)
Lorne Jacobson (Triwest Capital)
Thilo Kaufman (Walton Asset Management)
Richard Kinlough (GE Antares)
Lauren Linton (CVCA)
George Nasr (Caledon)
Senia Rapisarda (Harbourvest)
Richard Remillard (consultant)
Art Robinson (32 Degrees Capital)
Whitney Rockley (McRock Capital)
Kathryn Ryan (CVCA)
Lloyd Segal (Persistence Capital)
Brenda Slauko (BDC)
Robert Sturgeon (EDC)
Paul Sparks (Difference Capital)
Shirley Speakman (Cycle Capital)
Tony Van Bommel (BDC)
Peter van der Velden (Lumira Capital)
Mike Woollatt (CVCA)




2014 SPONSORS:

PLATINUM SPONSORS
 

 

   Export Development Canada

 GE Antares Capital
 

 
 
 




 

Rosenzweig

 


DIAMOND SPONSORS

   
 
Chubb Insurance
 
Fonds de solidarite FTQ

 






 

GOLD SPONSORS
 
 
 
Alberta Enterprise Corporation
  

 



 
 




Northleaf Venture Catalyst Fund  
 

  OMERS Private Equity
OMERS Ventures 

Morrison Foerster
 


 

 

 

 
SILVER SPONSORS
 
 

Aird & Berlis

 

AVAC
 Bennett Jones

 

 Blaney McMurtry

 
 comerica  
 Difference Capital  

 Kensington

 TSX Private Markets
 
Lazard

 McMillan
 
 MNP
 

       
 
 
Stikeman Elliott


 
TriWest Capital Partners
 
Wellington Financial
   
   
 
 
OTHER SPONSORS
 
   
SPONSOR OF VIP DINNER  
Bennett Jones

SPONSOR OF CANADIAN WOMAN IN PRIVATE EQUITY (CWPE) RECEPTION 


BREAKFAST SPONSOR


Avrio Ventures

SPONSOR OF CVCA HOCKEY CHALLENGE  Invest Ottawa 

SPONSOR OF CVCA HOCKEY CHALLENGE COCKTAILS RECEPTION

Lebarge Weinstein  

Coffee Break Sponsor
 

Fondaction



PARTNERS
 


 Thomson Reuters
PitchBook 

 CIX
ABVCAP
 




 Backbone Banff Venture Forum
Institutional Limited Partners Association