NOVACAP Management Financial Services Inc.

Investment decisions are decentralized across sector-focused investment committees. Brian Neysmith, as President and Managing Partner, oversees the firm's overall strategy, but each fund family — NVC buyouts, TMT, healthcare, and financial services — has its own dedicated managing partners and committee. Jacques Foisy remains actively involved as Chairman. Board-level final approvals go through the partnership, but sourcing and underwriting authority lies with the vertical teams.

Novacap operates a house-of-brands model with four autonomous verticals: NVC (industrials and business services buyouts), TMT (technology, media, and telecommunications), Life Sciences, and Financial Services. Each vertical has its own managing partners, deal leads, and investment committee, supported by centralized compliance and finance functions. This avoids key-person concentration and gives LPs sector-specialized diligence.

Novacap writes equity checks across two tiers. The core buyout fund targets C$50 million to C$200 million in enterprise value for industrials and business services, while the TMT and healthcare funds operate in overlapping mid-market bands with growth equity and buyout flexibility. For larger acquisitions, the firm can pull from co-investment LP capital or multiple fund vehicles to exceed $100 million equity without going outside the platform. Exact bands shift with each fund vintage.

Unlike single-fund generalists like Birch Hill or TorQuest, Novacap runs four distinct sector strategies under one roof, each with its own investment committee. The platform has executed cross-fund transactions (one Novacap fund buying a platform from another), which few peers can do. Its multi-decade succession plan — with Jacques Foisy still active and Brian Neysmith running day-to-day — provides LP continuity that contrasts with single-GP transitions at competing firms.

Novacap's TMT practice targets growth-stage and buyout-stage companies in enterprise software, managed IT services, and telecom infrastructure, typically with $10 million to $50 million in revenue at entry. The team will do minority growth deals but prefers control positions where it can deploy operating expertise. The fund has completed add-on acquisitions within platforms like Syntax and Horizons, operating a buy-and-build model common to tech-focused private equity.