A mix of keynotes, panels, and presentations on topics such as investment strategy, regional and sector specialization, fund performance and the changing environment and needs of investors.
Day 1June 8th, 2021
Welcome remarks from CVCA's CEO, Invest Canada '21 Co-Chairs, and more!Peter Dowse Chair of CVCA and Partner, Ironbridge Equity PartnersMary Ng Minister, Small Business, Export Promotion and International Trade
HarbourVest Partners (Canada) Presents: In Conversation with Mark Carney, Head of Impact Investing, Brookfield Asset Management
Mark Carney is Brookfield Asset Management’s new Vice Chairman and Head of Impact Investing and in this role will be focusing on the development of products for investors that will combine positive social and environmental outcomes with strong risk-adjusted returns.Coming from serving as the Governor of the Bank of Canada and Bank of England, Mr. Carney will take the IC21 virtual stage for a candid discussion with Senia Rapisarda, Managing Director, HarbourVest Partners (Canada), on values, markets, and how private capital & innovation can make Canada a role model in leadership and sustainability for the next decade.
Leading in Tech with Empathy
Maëlle Gavet is CEO of Techstars, a global investment, and accelerator business that connects entrepreneurs, investors, and corporations to help early-stage startups succeed. She has been named one of Fortune's 40 under 40, a Young Global Leader by the World Economic Forum, one of the Most Creative People in Business by Fast Company, and was on Time Magazine's list of the 25 Top "Female Techpreuners."
An entrepreneur at heart, Maëlle founded her first business at sixteen and went on to start two other companies. She has been a senior executive at numerous large tech companies around the world, including Ozon, the Priceline Group (OpenTable, Kayak, Booking.com), and Compass. She was also a Principal at the Boston Consulting Group for 6 years.
In the widely-acclaimed book Trampled by Unicorns: Big Tech's Empathy Problem and How to Fix It (Wiley, 2020), Maelle lays out how venture capital’s obsession with hyper-growth stifles opportunity for innovation and suggests a more people-centered approach could transform the industry and create even more value.
Maëlle joins the IC21 stage for a fireside chat where she will borrow from her years of experience to discuss the problem and solution to the lack of empathy in Big Tech. She will also talk about why she chose to join Techstars and what she hopes to accomplish via this global platform.
Maëlle's Fireside Chat will be followed by an interactive Q&A from the audience.
Davies Presents: Continuation Funds and Secondary Vehicles: How Private Equity GPs Are Holding On for Longer
Private Equity’s focus on long-term growth has never been more real than today.
In order to achieve their growth objective, PEs have had to grapple with the time their LPs afford them to achieve these outcomes. But, what do you do when you still see growth potential in your portfolio but are running out of time? Continuation funds have emerged and appear to be here to stay. The vehicles are in many ways a rebranding of general partner-led secondaries. The purpose of the fund is twofold: to hold onto investments in the hope of making bigger returns at a later date, and to provide a potential exit for LPs.
In this session, you will hear from some of Canada’s leading secondaries firms, domestic and international LPs, and professional service providers as panelists debate why this trend has emerged, how Canadian GPs and LPs have been using these tools, and how this trend may shape the future of PE investing.
Moderated by: Brooke Jamison, Partner, Davies
The SPAC Boom and the Evolution of the Exit
The resurgence of Special Purpose Acquisition Companies (SPAC) as an exit tool in 2020 and 2021 has propelled them into the spotlight, making them a powerful force in the IPO and M&A markets. PE and VC firms have begun to think of SPACs as an efficient way to raise capital in an IPO from a new class of retail investors. The question remains: are there risks in going the SPAC route versus the more tenuous IPO journey?
In this session on June 9, panelists will provide a 360-degree view of the SPAC market including a recap of recent activity and the notable trends in SPAC structure and transactions. Plus, they’ll dive into the sectors that are the most attractive and the implications for issuers.
When should GPs consider SPACs vehicle versus a traditional IPO? What do IPO investors look for in SPACs and management teams? Panelists will sit down with the Globe and Mail's Sean Silcoff to answer these questions and more.Sean Silcoff, Writer, The Globe and Mail Technology and Innovation Reporter, The Globe and MailMichael Shuh Managing Director & Head of Financial Institutions, Canaccord Genuity Corp.Don Duffy President, Investor Relations, Integrated Corporate Relations (ICR)Stephen Pincus Partner and Head of Capital Markets, Goodmans LLP
EDC Presents: Do Canadian Entrepreneurs and Investors Still Crave U.S. Validation?
Canada’s VC ecosystem has grown from $1.9B in 2013 to a high of $6.2B in 2019 and $4.4 B in a pandemic year. These numbers illustrate that Canadian start-ups are being capitalized and the cheques are getting bigger. Yet, we live next to a giant. One that deploys annually on average $156B and deployed $95B in Q1 2021. The sheer size of the American VC market and the success and reputation of some of Sand Hill Road’s Venture firms make their interest and participation in Canadian startups a badge of honour, for many entrepreneurs, a sense that they have captured the interest of the world’s best.
Is this feeling real or simply perception? Does it matter who funds you? Does U.S. validation matter? What are the risks and the value-add of their participation?
In this panel, three experienced Canadian VCs debate whether having a U.S. investor is an asset. The panel will discuss the significance of a diversified group of limited partners and dig into why the presence of U.S. investors is often perceived as a sign of success and maturity.
Fonds de solidarité FTQ presents: Reimagining the Canadian Economy with Monique Leroux and Janie Béïque
During this session, panelists will discuss the challenges of the Canadian economy pre and post-COVID-19 and the role investors play in shaping companies and their growth.
Monique Leroux is a seasoned business leader and investor that was tapped to lead the economic council for the federal government with a mandate to identify the scope and depth of COVID-19's impact on Canadian businesses and to present concrete recommendations for economic policy in the short, medium, and long term. She will share some of the insights gained during this exercise and her personal views on Canada’s economic future.
Monique Leroux will be joined by Janie Béïque, the new President and CEO of Fonds de solidarité FTQ. Janie offers a fresh and dynamic perspective on the current market and will share her thinking through the lens of Fonds’ mission of job creation, economic training for workers, developing the Québec economy, and securing the retirement aspirations of their members.
CIBC Presents: Addressing Shared Challenges: Integrating DEI in Investment Activities and Practices
Diversity, Equity & Inclusion is a topic that continues to receive a lot of attention, and one that is of immense and urgent importance. Research continues to show that diversity, equity, and inclusion leads to better business decisions and financial outcomes. As an economic, social, and workplace imperative, it’s no wonder this topic matters so much. But what is best practice? And what are the challenges and opportunities that lie ahead?
In this IC21 panel discussion, our experienced panelists will share how they are integrating diversity, equity, and inclusion into both their investment activities and organizational practices, including the progress made to date, challenges ahead, lessons learned and the work still to be done. The session will also include insights and data coming out of ILPA’s Diversity in Action Initiative quarterly roundtables, including specific commitments both LPs and GPs have made to address shared challenges.
Opening Remarks by: Courtney Savage, Director, Leveraged Finance, CIBC
Moderated by: Jennifer Choi, Managing Director, Industry Affairs, ILPACourtney Savage Director, Leveraged Finance,, CIBCJennifer Choi Managing Director of Industry Affairs, Institutional Limited Partners Association (ILPA)Jacqueline Ovens Director, Investments, Export Development Canada (EDC)Sonal Doshi Senior Principal, Private Equity, Canada Pension Plan Investment Board (CPPIB)Emily Walsh Lead Investor, Georgian
Le Fonds de solidarité FTQ presents: Canadian Wine Landscape
In 2016, Ontario Teachers’ Pension Plan (OTPP) acquired Constellation Brands Canada, the Canadian operation of Constellation Brands. The business, now known as Arterra Wines Canada, is a market leader in the Canadian wine industry with roots dating back to 1874.
In this session, panelists will discuss trends in the Canadian wine sector and can discuss OTPP’s involvement in value creation at Arterra.
The panel will be followed by a wine-tasting session hosted by Arterra with Thomas Bachelder (Wine Maker, Le Clos Jordanne) and Elsa MacDonald (Master of Wine) leading the event.
Introduced and Moderated by Daniel Hinse, VP, Fonds de solidarité FTQ
Bennett Jones and KPMG In Canada Present Wine Tasting with World-Renowned Winemaker, Thomas Bachelder
Attendees will gather virtually with colleagues to connect, learn, and discover new wines with the world-renowned winemaker, Thomas Bachelder and Elsa MacDonald, Master of Wine, Arterra Wines.
Day 2June 9th, 2021
Welcome RemarksHon. Victor Fedeli Minister of Economic Development, Job Creation and Trade Chair of Cabinet, Government of Ontario
Alberta Enterprise Corporation (AEC) Presents: Geopolitical Trends and Trade
The Chinese, European, and U.S. economies are the world's largest markets and Canada’s economy is highly dependent on theirs. For many years, multilateral trade agreements and the rise of a deeply intertwined and globally connected economy gave Canada reassurance of our ability to access these markets. While trade agreements remain in place, the geopolitical dynamics are shifting and many countries are looking inwards rather than embracing past liberalization. This panel will examine the current global outlook and discuss its impact on Canada’s economy. Which geopolitical variables should investors be keeping an eye on?
Governments and investors know that capital moves towards opportunity. What does the current landscape present in terms of barriers and challenges? Are there new opportunities for cross-border investment and collaboration? Canada’s ambassadors to the EU, China, and the US will answer pressing and important questions related to global trade, regulation, and the broader geopolitical landscape that influences investment decision-making. Join us for a candid discussion about the world today.
Opening Remarks by Sara Wilshaw, Chief Trade Commissioner of Canada and Assistant Deputy Minister, International Business Development
Moderated by Kristina Williams, President and CEO, AECDr. Ailish Campbell Canada’s Ambassador to the European Union,Dominic Barton Canada’s Ambassador to the People’s Republic of China,Kirsten Hillman Canada’s Ambassador to the United States of America,Kristina Williams President and Chief Executive Officer, Alberta Enterprise Corporation (AEC)Sara Wilshaw Chief Trade Commissioner of Canada and Assistant Deputy Minister, International Business Development,
BDC Capital presents: Oxford Debate: Canadian Legacy vs. Next Generation VCs
The Canadian VC ecosystem has evolved dramatically in recent years, including the individual GPs and investors making decisions about what companies to fund and providing guidance for operational success. With changing mentalities, different skill sets, and new sectors, which generation of Canadian VCs will add the most value and perform the best? Will it be the legacy generation that started pre-2013 or the newer generation that has emerged post-2013?
BDC Capital presents: Global Private Market Trends and Perspectives with Kewsong Lee, CEO, The Carlyle Group
Over the last 30 years, Carlyle has become one of the world’s largest and most diversified global investment firms, with USD $246 billion of assets under management. They are known for driving long-term value for their investors, companies, shareholders, people, and communities while being purposeful when it comes to ESG and diversity, equity and inclusion.
Mr. Lee transformed Carlyle’s PE and Credit business and in 2020 became the firm’s sole CEO. Now, Mr. Lee is busy accelerating Carlyle’s growth with a strategy of “thinking bigger, performing better, and moving faster.”
What is the current state of play for the global private markets? What are the trends emerging in the market and which trends are here to stay? Join Shane Feeney, Senior Managing Director & Global Head of Private Equity, CPPIB, for a fireside chat with Carlyle’s CEO, Kewsong Lee. Drawing on his years of global expertise, Mr. Lee will reflect on the state of global markets, the industry and how The Carlyle Group is driving change.
Amplitude Ventures presents: Life Sciences in Canada: Economic Potential & Strategic Opportunities
For the last two years, Canadian life therapeutics companies have dominated mega-rounds and exits with $1B in VC dollars going to life science; 26% of the venture capital investments in 2020. The life sciences industry has the potential to speed Canada's economic recovery, drive investment returns and impact all Canadians.
Join us on June 9 as we hear from three life science executives to find out what’s behind their success, learn more about the sector’s momentum, and to discuss the importance of venture capital to their journey.
HSBC Bank Canada Presents: Roundtable: Setting the Standards for ESG
For decades, Environment, Social and Governance (ESG) issues have built momentum. Today, most institutions, both private and public, are now sensitized to the critical priority of ESG, but are still facing challenges on the best ways to integrate and operationalize these considerations into their daily activities. In North America, the integration of ESG has lagged that of Europe in the past decade, but we are now seeing a real acceleration across Canada and the U.S.
This IC21 panel will provide insight on the 3 pillars of ESG issues: Environment, Social, Governance, and will discuss the different angles for ESG integration. More importantly, it will showcase leading practices on how you measure and report ESG, and the impact on decision making. ESG integration is not only the right thing to do, but it also leads to better opportunities and profitability.Marie-Josée Pryvik Head of ESG Innovation and Customer Success, Novisto Inc.Peter Dunbar Private Equity Senior Specialist, Principles for Responsible Investment (PRI)Wils Théagène Senior Director, Quebec, Caisse de dépôt et placement du Québec (CDPQ)Valerie Lemieux Head of Public Sector Canada, Global Banking & Markets, HSBC Bank Canada
FASKEN Presents: Next Gen PE & VC Perspectives
Canadian VC and PE capital deployment reached CAD $25.5B in 2019 and CAD $18.5B in 2020, clearly contributing to Canada’s economic growth. Behind the numbers lie dedicated PE, VC and LP investment teams, contributing countless hours and efforts to their funds and portfolio companies. Human capital, talent and succession planning is critical for our industry. A strong, stable and motivated team is a key ingredient to a fund’s ROI.
Join us on June 9 as we explore how industry leaders can ensure to build the right environment to keep next-gen professionals engaged, motivated and on course. We will hear from four next gen leaders to better understand what motivates and inspires them, the challenges and opportunities they face, and how our industry can support them in creating value for their firms’ investments.
TSX presents: Behind 2021’s Tech IPO Boom
A surging innovation sector has led to the biggest first quarter of initial public offerings by Canadian companies in 15 years. In 2021, at least 32 Canadian firms have announced IPOs set to raise a combined $3.26 billion.
What are the considerations and opportunities fuelling this record-setting shift to IPOs? Attend IC21 and on June 9 hear from the entrepreneurs and executives behind some of Canada’s more notable public market exits:
• Vancouver-based biotech company AbCellera whose IPO netted $556M in Q4 2020;
• Farmers Edge Inc. which raised $143.8M in an offering in February;
• Dialogue Health Technologies Inc., announced a $100M IPO in March; and
• Lion Electric a company that took a less familiar though increasingly popular route with a raise of $500M through a SPAC deal with Northern Genesis.
DealCloud Presents: IC21 Masterclass: Reimagining Your Post-COVID-19 Future: Fostering Innovation & Agility with Lital Marom
COVID-19 is a big wake-up call for most businesses to innovate and reconstruct their future or be left behind. Organizations need to make significant changes to their traditional (incumbent) business models to build their breakthrough, future-ready businesses.
As investors, both in private equity and venture capital, you approach all your investments with a growth mindset. This masterclass is designed to help you assess if you have been using an incremental approach and will guide you to think about adopting an exponential strategy and an exponential mindset to bring real transformative growth to your portfolio.
In fact, to drive lasting change, you will be challenged to think about designing a whole new roadmap to accompany your entrepreneurs: redesigning the organizational value chain, including people, technology, and business models.
You will also be asked to think about exponential growth; how to amplify your impact by thinking more broadly and differently and using your network rather than linear thinking. Exponential thinking is the power to multiply the effect of components (mindset, technology, business models) and not merely add them.
IC21’s Masterclass will give you a real sense of the shifts (thinking models and business models) and the fundamental principles that separate successful companies from unsuccessful ones in the digital economy. Lital will explain how you can identify opportunities to innovate and transform your own portfolio of businesses before someone else does.
Introduction by Ben Harrison, Co-founder, DealCloud and President, Financial Services division, Intapp
TELUS Ventures presents: In conversation with Laurent Duvernay-Tardif, Offensive Lineman, Kansas City Chiefs and McGill Medical School Graduate: Making the Tough Decisions
Laurent Duvernay-Tardif has made headlines.
At the age of 29, he was celebrating his first Super Bowl victory. A native of Quebec and a McGill University Medical School graduate, he was the first player to opt out of the 2020 NFL season due to concerns over the COVID-19 pandemic. He watched his team return to the Super Bowl a few months back while working as an orderly in Quebec’s healthcare system. As a result of his efforts on and off the field in 2020, he was named a co-winner of the Lou Marsh Award, given annually to Canada's top athlete. He is the first active NFL player to hold a medical degree and has demonstrated foresight and maturity in thinking about life after football.
Laurent will sit down with Novacap’s Jacques Foisy, his high school football coach, for a fireside chat about leading with purpose, the difficult decision he made not to play, his entrepreneurial background, and what the future holds.
Join us as we officially close out Invest Canada '21!
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