AGF Announces Extension of its Private Alternatives Platform
19 Agosto 2021 - 08:00AM
AGF Management Limited (AGF) (TSX:AGF.B) announced today a
strategic private equity partnership with First Ascent Ventures
(“First Ascent”) focused on investing in emerging technology
companies that are building the next generation of disruptive, fast
growing enterprise B2B software companies. AGF will make a $30
million cornerstone investor commitment to First Ascent’s second
fund and will be a member of the Limited Partner Advisory Committee
(LPAC) of the fund.
“We are excited about this initial cornerstone
investor relationship with First Ascent as the first step to future
business and fostering a long-term relationship together,” said
Kevin McCreadie, Chief Executive Officer and Chief Investment
Officer, AGF. “We continue to look to strategically deploy our
capital and diversify our relationships within the private
marketplace, and with First Ascent we are expanding our private
alternatives platform to include private equity and venture capital
opportunities focused on the venture growth, and growth equity
segments.”
“We see an unprecedented opportunity for us to
invest in a top-tier portfolio of emerging technology companies and
First Ascent boasts an established track record we believe provides
distinct and unique value to our shareholders,” added
McCreadie.
First Ascent was founded in 2015 and the founding
partners of their initial fund, Richard Black and Tony van Marken,
have been involved with over 35 technology companies as founders,
operating executives, board members and significant investors with
a track record of successful revenue growth and premium returns.
First Ascent targets companies led by outstanding, committed
entrepreneurs that have growing annual recurring revenues with a
differentiated product offering and top tier customer
references.
“We are delighted to partner with AGF, a firm with
a long history of innovation known for its operational,
distribution, financial product design and governance expertise in
both the public and private markets,” said Richard Black,
co-founder and Managing Partner of First Ascent. “The cornerstone
investment from AGF demonstrates the confidence in the market for
our second fund where we will be looking to extend our reach and to
continue investing in growing enterprise software companies that
are solving real technological problems for the enterprise.”
“We look forward to working with the management
team of AGF and to mutually create a long and prosperous
relationship together,” added Black.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an
independent and globally diverse asset management firm. AGF brings
a disciplined approach to delivering excellence in investment
management through its fundamental, quantitative, alternative and
high-net-worth businesses focused on providing an exceptional
client experience. AGF’s suite of investment solutions extends
globally to a wide range of clients, from financial advisors and
individual investors to institutional investors including pension
plans, corporate plans, sovereign wealth funds and endowments and
foundations.AGF has investment operations and client servicing
teams on the ground in North America, Europe and Asia. With over
$42 billion in total assets under management and fee-earning
assets, AGF serves more than 700,000 investors. AGF trades on the
Toronto Stock Exchange under the symbol AGF.B.
Media Contact
Amanda Marchment Director, Corporate Communications
416-865-4160 amanda.marchment@agf.com
About First Ascent Ventures
First Ascent Ventures invests in emerging
technology companies that are building the next generation of
disruptive, enterprise B2B software that leverages the cloud,
artificial intelligence (AI), machine learning, big data, 5G,
mobility and IOT with a focus on companies that are solving the
challenges related to data privacy and security in the enterprise.
First Ascent Ventures is looking for outstanding, committed
entrepreneurs and management teams who seek not just financial
backing, but the experience and expertise of successful financial
and operating executives who can create a catalyst for growth and
ultimately a successful exit for all stake holders.
For more information please see
www.firstascent.vc
Media Contact
Tony van MarkenManaging
Partner647-271-4564tony@firstascent.vc
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