PSG, a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth, hired private capital veteran and Ontario Teachers’ Pension Plan head of technology, media and telecom, financial services and healthcare, Bogdan “Bo” Cenanovic, as a managing director.
Cenanovic will aim to bolster PSG’s Canadian deal flow pipeline. To date, PSG has completed four platform investments in Canada – DigitalEd, Introhive, Penny AI and Wagepoint – and 28 add-on acquisitions.
In addition, Cenanovic will lead underwriting for PSG’s Encore strategy, which is primarily focused on making investments in select PSG portfolio companies upon their complete or partial exit from PSG’s funds in order to support growth for a longer period. To date, PSG has invested in five companies through the Encore strategy – Assembly, Formstack, Government Brands, Therapy Brands and Vehlo. Cenanovic will join Encore’s investment committee with Peter Wilde, co-founder and chairman; Mark Hastings, co-founder and CEO; and John Clancy, Managing director and head of portfolio operations.
“While Bo has been known to us for some time, we’re thrilled to welcome him to the firm to guide our investment strategy in identifying some of Canada’s leading software companies as we continue to fuel our team globally with established, on-the-ground expertise in the areas in which we invest,” Wilde said. “Over the past 10 years, I’ve seen Bo exemplify the values we prioritize at PSG, specifically while serving on the board of Ascend Learning together. I am confident he will seamlessly bring the PSG approach to Canada and help us execute against our goal of a strong deal flow pipeline in the region.”
Prior to joining PSG, Cenanovic was managing director and global group sector head at Ontario Teachers’ Pension Plan in Toronto. There, he led the pension’s investments in the technology, media and telecom, financial services and healthcare sectors. At the organization since 2009, Cenanovic was deeply involved in several significant transactions, including Ascend Learning, which he worked on with Wilde and Bill Aliber of PSG.
“PSG has significant experience serving as an accelerant for growth-stage tech companies, and I’m eager to work with the team to enhance the company’s presence in Canada,” Cenanovic said. “Peter and Bill have been wonderful long-time colleagues of mine, and I’m looking forward to combining our strengths and expertise under the PSG umbrella.”
“Having worked closely with Bo, I’m confident his skillset and founder-first perspective will be a great asset to our team,” Aliber, a managing director at PSG, said. “Toronto is a key economic and software hub in North America, and we believe Bo is well-equipped to expand PSG’s presence and network in the region as we continue to target our growth goals.”
