Ontario Teachers’ Pension Plan invested an undisclosed amount through its late-stage venture and growth arm, Teachers’ Venture Growth, and values the Toronto-based company at about US$2.5 billion. Intrepid Growth Partners, co-led by former CPP Investments’ CEO Mark Machin, also participated, along with four other investors. (The Globe and Mail, The Logic)
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Ontario Teachers’ Pension Plan invested an undisclosed amount through its late-stage venture and growth arm, Teachers’ Venture Growth, and values the Toronto-based company at about US$2.5 billion. Intrepid Growth Partners, co-led by former CPP Investments’ CEO Mark Machin, also participated, along with four other investors. (The Globe and Mail, The Logic)
Talking point: Since its launch in 2014, StackAdapt has built a 1,300-person workforce with operations in 19 global markets. Its revenue is expected to exceed US$500 million this year, with operating earnings surpassing US$125 million. That makes it one of the country’s largest and most profitable private tech companies. The investment will help fuel the company’s plans to expand its global operations and scale its research and development.
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