MONTRÉAL, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Novacap, a leading North American private equity firm, today announced the final closing of the firm’s first fund dedicated entirely to investing in digital infrastructure. The Novacap Digital Infrastructure Fund I (the “Fund”) exceeded its target and raised over US$1 Billion from existing and new institutional investors, family offices and high-net-worth investors from North America, Europe, the Middle East and Asia in primary fund commitments along with co-investments.
“I would like to thank our long-standing investors for their support and take this opportunity to welcome new investors to our new platform. A commitment of this size for a new platform is a testament to our experienced and dedicated team’s track record of helping entrepreneurs build leading companies while delivering sustainable long-term value to all stakeholders,” said Pascal Tremblay, President & CEO, Managing Partner, Novacap.
Digital infrastructure represents one of Novacap’s specialized strategies, complementing its investments in technology, industries, and financial services. Establishing this platform builds on the firm’s prior experience in the sector and aligns its expertise with market opportunities. The Fund focuses on equity investments in North American lower mid-market companies providing essential connectivity and data access services backed by robust, existing physical assets.
“Strong expertise and deep industry networks are the hallmarks of our sector-focused investment strategies. Our dedicated digital infrastructure team, comprised of industry veterans, investors, and entrepreneurs, has the experience to identify and source compelling investment opportunities in the lower mid-market and then help them grow and expand with our operational and strategic expertise. This approach furthers Novacap’s long standing history of supporting the growth of companies in North America within our investment areas of domain expertise,” said Ted Mocarski, Senior Partner and Head of Novacap Digital Infrastructure.
The Fund has already begun its strategy execution with investments in four platform companies: INdigital, a leader in the development of Next Generation 9-1-1 services; All West Communications, a broadband network operator providing high-speed telecommunication services; Communications Tower Group, a developer and acquirer of wireless digital assets; and HyScale, an owner and operator of data center assets.
“The substantial demand that the Fund received in this highly competitive fundraising market really speaks to the caliber of their team and to their differentiated investment strategy,” said Alex Russ, Senior Managing Director at Evercore. “We are delighted to have partnered with Novacap on their successful fundraise and congratulate the entire Novacap team on reaching this important milestone in the firm’s history.”
Evercore Private Funds Group served as the exclusive global placement agent, and Davies Ward Phillips & Vineberg LLP served as fund counsel.
About Novacap
Novacap is a leading North American private equity investor and one of Canada’s most experienced private equity firms. Founded in 1981 to partner with visionary entrepreneurs, Novacap focuses on middle market companies in four core sectors: Technologies, Industries, Financial Services, and Digital Infrastructure. Novacap combines deep sector-specific expertise with strategic and operational excellence to support entrepreneurs and management teams. Since its inception, the firm has made primary and add-on investments in more than 250 companies. With over C$10 billion in assets under management and a presence across offices in Montreal, Toronto, and New York, Novacap continues to drive innovation and growth. For more information, please visit: https://novacap.ca.
Media inquiries:
Renata Kappaun
Senior advisor, communications
rkappaun@novacap.ca
+1 514-234-4152
