The San Francisco-based subscription revenue app marketplace will invest the proceeds in its Capital Invest program, which provides funding options for recurring revenue startups, allowing them to retain full ownership of their business. (The Logic)
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The San Francisco-based subscription revenue app marketplace will invest the proceeds in its Capital Invest program, which provides funding options for recurring revenue startups, allowing them to retain full ownership of their business. (The Logic)
Talking point: The Caisse de dépôt et placement du Québec, the province’s public pension fund manager, made an initial $100-million investment in AppDirect in 2021. The company was last valued at US$1.67 billion in December 2021, according to PitchBook. Previous investors include Montreal’s Inovia Capital, JPMorgan Chase and Mithril Capital, the investment firm co-founded by Peter Thiel. Founded in 2009 by Canadians Nicolas Desmarais and Daniel Saks, AppDirect now has 990 employees, according to PitchBook data, and has offices in Quebec and Calgary. Desmarais, part of the billionaire Quebec family best known for its stewardship of Power Corporation, is the private company’s CEO.
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