CIBC Innovation Banking provided financing solutions, including a capital call line of credit, to Vertu Partners Fund I, a private equity fund managed by Vertu Capital. The capital call facility provides Vertu Fund I with the flexibility to make investments in portfolio companies prior to calling capital from the fund’s limited partners.
Founded in 2017 by Lisa Melchior, Vertu Capital was established to fill a gap in Canada’s technology sector between early-stage growth and large buyouts.
“Vertu’s core vision is to assist Canadian technology companies in scaling and growth,” Rob Rosen, managing director in CIBC Innovation Banking’s Toronto office, said. “It’s a vision shared at CIBC Innovation Banking as well, and we look forward to working with the Vertu team to help Canadian software businesses grow.”
“Vertu has a long-standing relationship with CIBC Innovation Banking and we are very excited to continue working together,” Kimberly Davis, partner and COO of Vertu Capital, said. “The team understands our business and listened closely to our needs, ultimately offering a tailored facility that will allow Vertu to effectively manage its business.”
