The value of the private equity firm’s initial investment in payment-processing company Nuvei has more than quadrupled since the latter began trading publicly last week. Novacap senior partner David Lewin—also a member of Nuvei’s board—told The Logic the investment was the firm’s “most successful ever.” Its stake in Nuvei is now worth almost $1.8 billion. “I don’t want to take away from the other successful companies we have made investments in, but if you categorize it in terms of value, yes, this is the most successful,” Lewin said. (The Logic)
Skip to content
The value of the private equity firm’s initial investment in payment-processing company Nuvei has more than quadrupled since the latter began trading publicly last week. Novacap senior partner David Lewin—also a member of Nuvei’s board—told The Logic the investment was the firm’s “most successful ever.” Its stake in Nuvei is now worth almost $1.8 billion. “I don’t want to take away from the other successful companies we have made investments in, but if you categorize it in terms of value, yes, this is the most successful,” Lewin said. (The Logic)
Talking point: The Montreal-based company made history last week by becoming the largest tech IPO in the history of the Toronto Stock Exchange, debuting at US$700 million, and subsequently raising another US$105 million after its 14 underwriters exercised their options to buy over four million Nuvei shares. Since going public at about $35 a share, the company’s stock has soared by 40 per cent, turning Nuvei CEO Philip Fayer into Canada’s newest billionaire. The Caisse de dépôt et placement du Québec also has a massive stake in the company, worth about $1 billion at today’s stock price. Nuvei itself is currently valued at just over $6 billion.
Correction: This item has been updated to correct the value of Novacap’s investment in Nuvei.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Commentary
Carmichael: Services are Canada’s true ace in the game of global trade
Briefing
Businesses scramble to respond to wildfires as evacuations continue
CAAT updates the pension’s rules on pay transparency and workplace relationships
U of T gets government funding for wet-lab space at MaRS
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
