The firm’s owners—Justin LaFayette, Simon Chong and John Berton—have sold a 4.5 per cent passive equity stake in the Toronto-based firm to Navigator Global Investments (NGI). Georgian plans to reinvest the money into its portfolio companies. (The Globe and Mail)

Talking point: The deal gives NGI a piece of Georgian’s future profits but no control over its operations or strategy. It comes as the investment firm, which has about US$5.9-billion in assets under management, prepares to launch its seventh growth equity fund. Georgian is also in the midst of repairing its reputation after a period of weak returns following the pandemic-era valuation boom. NGI’s chief investment officer told The Globe and Mail that the deal will deepen its exposure to growth equity opportunities in the AI sector, where Georgian was an early investor.