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National Bank of Canada

North America, Alberta, Canada, Calgary

Description

National Bank of Canada, through its dedicated investment arm, National Bank Private Equity (NBPE), is a prominent institutional investor in the Canadian market. NBPE focuses on direct equity investments in private companies, distinguishing itself from traditional venture capital firms by primarily targeting established, medium-sized to large businesses rather than early-stage startups. Their investment strategy encompasses providing growth capital, facilitating management buyouts, and financing strategic acquisitions across various sectors, including technology, industrials, consumer goods, and healthcare. NBPE seeks out companies with proven business models, strong management teams, and significant growth potential, aiming to partner with founders and executives to accelerate value creation.

NBPE's approach is characterized by its long-term perspective and commitment to supporting the strategic objectives of its portfolio companies. They often take significant minority or majority stakes, providing not just capital but also strategic guidance and access to the broader National Bank ecosystem. With over C$2 billion in assets under management, NBPE has substantial financial capacity to execute significant transactions. Their typical investment size for a first cheque in a growth equity context generally ranges from C$5 million to C$50 million, though larger co-investments are also possible depending on the opportunity and syndication.

Since its inception, National Bank Private Equity has invested in over 100 companies, demonstrating a consistent and active presence in the Canadian private market. This extensive track record underscores their expertise in identifying and nurturing successful businesses across diverse industries. Their role extends beyond mere capital provision, often involving active participation on boards and providing operational support to help companies scale and achieve their next phase of growth. As a division of one of Canada's leading financial institutions, NBPE leverages deep market insights and a robust network to identify compelling investment opportunities and drive long-term value.

Investor Profile

National Bank of Canada has backed more than 45 startups, with 19 new investments in the last 12 months alone. The firm has led 12 rounds, about 27% of its total and boasts 42 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Debt Financing, Post Ipo Debt, Series A rounds (top funding stages).
  • Majority of deals are located in Canada, United States, Côte d'Ivoire.
  • Strong thematic focus on Energy, Renewable Energy, FinTech.
  • Led 8 rounds in the past year.
  • Typical check size: $3.6M – $36.5M.

Stage Focus

  • Debt Financing (40%)
  • Post Ipo Debt (31%)
  • Series A (9%)
  • Series Unknown (7%)
  • Series B (7%)
  • Pre Seed (2%)
  • Corporate Round (2%)
  • Private Equity (2%)

Country Focus

  • Canada (73%)
  • United States (22%)
  • Côte d'Ivoire (2%)
  • Spain (2%)

Industry Focus

  • Energy
  • Renewable Energy
  • Fintech
  • Financial Services
  • Software
  • Precious Metals
  • Analytics
  • Artificial Intelligence (Ai)
  • Solar
  • Health Care
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does National Bank of Canada frequently co-invest with?

First Citizens Bank
North America, North Carolina, United States, Raleigh
Co-Investments: 4
Royal Bank of Canada
North America, Ontario, Canada, Toronto
Co-Investments: 7
Scotiabank
North America, Ontario, Canada, Toronto
Co-Investments: 9
Real Ventures
North America, Quebec, Canada, Montréal
Co-Investments: 3
Bank of Montreal
North America, Ontario, Canada, Toronto
Co-Investments: 12
NAventures
North America, Quebec, Canada, Montréal
Co-Investments: 5
MUFG Bank
Asia, Tokyo, Japan, Tokyo
Co-Investments: 4
Bank of America
North America, North Carolina, United States, Charlotte
Co-Investments: 6
Toronto Dominion Bank Group
North America, Ontario, Canada, Toronto
Co-Investments: 8
CIBC
North America, Ontario, Canada, Toronto
Co-Investments: 9

Which angels does National Bank of Canada often collaborate with?

Danny Zhang
North America, California, United States, San Jose
Shared Deals: 1
Kevin Pan
Asia, Shanghai, China, Shanghai
Shared Deals: 1
Peter Aceto
North America, Ontario, Canada, Toronto
Shared Deals: 1

What are some of recent deals done by National Bank of Canada?

Nova Credit

San Francisco, California, United States

Nova Credit is a credit infrastructure and analytics company that enables businesses to grow responsibly through alternative credit data.

CreditCredit BureauData IntegrationFinancial ServicesFinTech
Series DOct 14, 2025
Amount Raised: $35,000,000
Spartan Delta Corp

Calgary, Alberta, Canada

Spartan Delta Corp is a oil and gas producer.

EnergyEnergy ManagementOil and GasService Industry
Post Ipo DebtOct 7, 2025
Amount Raised: $143,364,962
Zedcor

Calgary, Alberta, Canada

Zedcor provides mobile surveillance towers and remote video monitoring with analytics for site security.

ConstructionElectronicsEnergyFacilities Support ServicesRecruitingSecurity
Post Ipo DebtOct 6, 2025
Amount Raised: $35,830,684
Discovery Silver

Toronto, Ontario, Canada

Discovery Silver mainly engages in developing silver deposits.

IndustrialMiningPrecious Metals
Post Ipo DebtSep 15, 2025
Amount Raised: $250,000,000
GHGSat

Montréal, Quebec, Canada

GHGSat’s mission is to become the global reference for remote sensing of greenhouse gas

AerospaceEnvironmental ConsultingOil and GasRemote Sensing
Debt FinancingSep 15, 2025
SSENSE

Montréal, Quebec, Canada

SSENSE is an online platform that offers a range of luxury designer clothing for men and women.

E-CommerceFashionRetail
Debt FinancingSep 13, 2025
Amount Raised: $40,000,000
Cordelio Power

Toronto, Ontario, Canada

Cordelio Power is a power producer that is involved in the development, ownership and management of an array of renewable power facilities.

EnergyRenewable Energy
Debt FinancingSep 9, 2025
Amount Raised: $313,000,000
Tetra Trust

Calgary, Alberta, Canada

Tetra Trust offers solutions for the accessible storage of digital assets.

FinanceFinancial Services
Series UnknownSep 8, 2025
Amount Raised: $7,239,148
Wishpond

Vancouver, British Columbia, Canada

Wishpond is an all-in-one marketing suite that enables users to generate and nurture leads.

AdvertisingLead GenerationMarketing AutomationSaaSSocial Media AdvertisingSocial Media MarketingSoftware
Post Ipo DebtAug 26, 2025
Amount Raised: $5,000,000
The Boyd Group

Winnipeg, Manitoba, Canada

The Boyd Group is an automotive company.

AutomotivePublic Relations
Post Ipo DebtAug 20, 2025
Amount Raised: $198,257,354