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Reducing wireless revenues by 25 per cent due to regulation would lead to a shortfall of up to $15 billion over five years, according to a BCG report. (The Logic)

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Talking point: The report comes as telecoms are facing significant pressure to cut their prices. Prime Minister Justin Trudeau won a minority government promising to cut internet and mobile phone rates by 25 per cent, working with telecoms and then regulating them if necessary. Large telecoms are currently petitioning the cabinet to overturn a ruling requiring them to charge smaller firms cheaper rates for access to their networks. BCG did not reply to The Logic’s question regarding whether any telecoms were involved in the drafting of this report. It’s the second recent call for a middle ground in telecom regulation; in November, the Competition Bureau called for the largest telecoms to be required to sell even more access to smaller carriers, but only on a temporary basis contingent on those firms building their own networks.

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Claerhout is joining the New York-based private equity firm as a partner. He spent almost 13 years at the Ontario Teachers’ Pension Plan before leaving in February 2018, when he was head of infrastructure. (The Logic)

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Talking point: Claerhout is tasked with co-leading infrastructure investments for Searchlight’s more than US$7 billion in assets under management. At Teachers’, he managed over US$18 billion in investments. Claerhout will be competing for deals against his former colleagues. In October, Teachers’ CIO Ziad Hindo told The Logic he plans to focus on infrastructure investments; earlier this year, the pension fund signed a deal with Sidewalk Labs to make investments in the space. That’s not the only overlap area. After leaving Teachers’, Claerhout spent nearly two years at Boston Consulting Group (BCG). BCG Digital Ventures is now partnering with Teachers’ on a new incubator, which is partially focused on infrastructure firms.

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A Business Development Bank of Canada (BDC) study released on Women’s Entrepreneurship Day finds women now account for around 28 per cent of all entrepreneurs in Canada, and that their number is growing at over three times that of their male counterparts. Almost 40 of all entrepreneurs who started businesses in 2018 were women. (The Logic)

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Talking point: BDC said it has doubled the number of women entrepreneurs it finances over the past three years; in 2018, it promised to lend $1.4 billion to women-led businesses by 2021. That’s in line with my colleague Catherine’s report from March, which found that nearly 90 per cent of investment deals publicly disclosed by Canadian venture capital funds over the past five years went to companies founded exclusively by men. A new report from Boston Consulting Group found that if there were equal numbers of women and men entrepreneurs, global GDP could rise by up to $5 trillion, and Canada’s by $80 billion, according to BDC.

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Koru will be a partnership with Boston Consulting Group Digital Ventures and work with companies in the Ontario Teachers’ Pension Plan’s $201.4-billion portfolio to protect them from disruption by building new firms, as The Logic reported earlier this week. On Wednesday, Teachers’ announced Koru is incubating three companies and plans to launch four more in 2020. Bryan Marcovici will be managing partner of Koru, which plans to hire 35 people. (The Logic)

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Talking point: Teachers’ is increasingly relying on partnerships as it seeks to catch up with other pension funds in the tech space. In August, the pension fund announced a partnership with Google sister company Sidewalk Labs to focus on cutting-edge infrastructure innovations. Rivals Caisse de dépôt et placement du Québec, the Ontario Municipal Employees Retirement System and the Canada Pension Plan Investment Board are also trying to protect their existing investments from disruption while making new ones, but are looking to do so on their own. The Caisse, for example, is building a “Disruptive Technologies strategy” for its $310-billion portfolio that includes examining its investments in publicly traded firms and challenging them as needed.