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The Venture Codex

Scotiabank

40 Temperance Street, Toronto, ON, M5H 0B4, Canada

Overview

Scotiabankers are committed to helping individuals, companies, and communities to thrive in a changing world. From personal and business banking, brokerage, and insurance, to private wealth, and the most sophisticated commercial, corporate and institutional services, they serve the diverse needs of some 21 million customers in more than 55 countries. Founded in 1832 in Halifax, Nova Scotia, their growth has always been fuelled by the success of their customers and their longevity secured by an unshakable commitment to carefully and expertly managing risk and capital. That focus on doing what's right for customers—short- andlong-term—has made us a global financial services leader. Headquartered in Canada, they are over 86, 000 Scotiabankers strong. Each of us are committed to being the best at understanding their customers' needs and all of us working together to deliver practical advice and relevant solutions that help their customers become financially better off.

Total investments
6
Lead investments
1
Investments · 12mo
1
Active investors
8

Sector focus

  • Banking
  • Finance
  • Financial Services
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Investment portfolio

  • VoltaGrid

    Participated · Debt Financing · Nov 2025

    Founded in 2020 and led by CEO Nathan Ough, VoltaGrid is a Houston-based advanced energy management and generation company providing behind-the-meter generation, portable power, CNG fuel supply, infrastructure, and energy management services. Its customers include data centers, AI infrastructure, utilities, and industrial clients across North America and beyond. The company reports an order book of roughly 7.5 GW through 2030. VoltaGrid plans to expand deployment and strengthen supply-chain and manufacturing capabilities following its announced acquisition of Propell Energy Technology Ltd., which adds about 1,000 employees and experience in reciprocating engines and turbine technologies. The recent $1.0 billion strategic equity investment is intended to accelerate those deployments and reduce execution risk on its projects.

  • Vosker

    Participated · Debt Financing · Jun 2024

    VOSKER provides cutting-edge surveillance solutions and emphasizes innovation and customer service. The company announced an oversubscribed USD $125 million senior debt financing to recapitalize its debt structure and fund tactical growth projects. Management says the capital will help advance its goal of becoming a global champion in the surveillance technology industry. The financing was structured as senior secured facilities with a USD $15 million accordion. VOSKER acknowledged support from banking partners and longstanding financial sponsors as part of its strategy to position the company for future global expansion. Vosker is an intelligent remote monitoring technology platform based in Victoriaville, Quebec, Canada. Founded in 2018 and led by CEO Yan Gagnon, the company markets products and services under the VOSKER and SPYPOINT brands. Vosker is described as a North American leader in remote area monitoring and is used every day to monitor remote areas in over 50 countries. The company currently has approximately 380 employees. Vosker raised CAD $60M and intends to use the funds to expand globally and enable further technological capacity and functionality developments.

  • Avanti Software

    Participated · Equity · Feb 2022

    Avanti Software develops a purpose-built payroll, HR, and workforce management (HCM) platform for the Canadian mid-market. The platform, built organically from the ground up, includes payroll & benefits, people management, workforce management, and talent acquisition modules that share a single database for reporting and data control. Avanti is completing a transformation from on-premise software to a cloud HCM solution and aims to have all clients on its cloud by the end of the year. The company plans to expand its engineering and product teams to accelerate cloud development and deliver product enhancements tailored to Canadian businesses. Avanti reported nearly 250% growth in ARR to more than $10 million in 2021, has a 95% client satisfaction rating, and counts customers such as Home Hardware, Princess Auto, and Porter Airlines. Headquartered in Calgary and founded in 1980, the company has grown its Canada-based workforce to 110 employees since the 2016 acquisition and expects to reach 130 by the end of 2022 and 180 within three years.

  • Purefacts Financial Solutions

    Led · Equity · Nov 2020

    PureFacts Financial Solutions is an award-winning SaaS provider of end-to-end revenue management solutions for wealth management, asset management and asset servicing firms. Its PureRevenue Platform powers the entire revenue lifecycle with a fees engine, incentive compensation application and business intelligence built on a single system of record. The company says it uses AI-enrichment across its fees engine and is focused on delivering analytics and recommendations to help clients manage and grow revenues. The GrowthCurve investment will support new product development, market expansion, and the development and use of AI and analytics, and will fund investments in human capital. PureFacts was founded in 1997 and maintains offices in Canada, the USA and Europe, and has been recognized in lists including WealthTech100, AIFinTech100 and ESGFinTech100. Terms of the transaction were not disclosed. PureFacts offers enterprise wealth management and asset management software focused on fees, reporting and AI-based predictive analytics. The company recently launched an AI-based predictive analytics product platform and has completed acquisitions to expand its global footprint. This year it acquired Boston-based VennScience and Zurich-based Quartal Financial Solutions to become a truly global firm. PureFacts appointed Rajini McRae, a former Royal Bank of Canada executive, as President as part of its leadership expansion. Founded in 2010 and self-funded until now, PureFacts reported a 152% year-over-year revenue increase when accounting for recent acquisitions and organic growth. The company plans to use new financing to accelerate product development and expand sales and marketing, and to fund potential future acquisitions.

  • SecureKey Technologies

    Participated · Equity · Oct 2016

    SecureKey Technologies provides identity and authentication solutions that simplify consumer access to online services and applications. The company has deployed the SecureKey ConciergeTM federated authentication service and is building a privacy-enhancing digital identity network for commercial rollout. It raised growth capital to fund that commercial rollout and to accelerate development of a new service planned for 2017. That upcoming service is intended to help consumers manage their digital assets and take control of their digital identity in a privacy-enhanced, secure way. Leadership includes founder, chairman and returning CEO Greg Wolfond and Rizwan Khalfan, EVP and Chief Digital Officer. SecureKey has offices in Toronto as well as Boston and San Francisco. SecureKey operates the SecureKey Concierge Service, a federated identity and authentication network used by governments and commercial customers to enable secure, privacy-preserving access to online services. Its cloud-based infrastructure powers Canada’s government services and is the core infrastructure for Connect.Gov in the U.S.; SecureKey received a provisional Authorization to Operate (pATO) from the FedRAMP Joint Authorization Board in January 2015. The company says the total number of active users enrolled in its network has doubled over the past year and that millions now rely on its identity services. SecureKey’s offerings let consumers authenticate using a trusted credential of their choice while emphasizing privacy and security. The funding is intended to accelerate worldwide adoption and expand the company’s footprint with strategic partners. SecureKey is headquartered in Toronto with offices in Boston, Washington, D.C., and San Francisco. The company is backed by a group of venture and corporate investors, including strategic investments from Visa, MasterCard, Discover, Rogers Venture Partners, and Intel Capital. Didier Serra was named Executive Vice President to lead consolidated sales and marketing to support global growth. SecureKey Technologies provides a platform-as-a-service for authentication, payment and identity, embedding a security client in laptops, tablets and mobile devices. Its technology enables partners — including financial institutions, healthcare providers, telecoms and government organizations — to deliver scalable solutions with chip-based identity and payment credentials. The company is working with Intel to deploy its solutions in Intel® Identity Protection Technology on Ultrabook devices later in 2012. Led by CEO Greg Wolfond, SecureKey intends to use the new capital for the commercial rollout of its solutions. The company reported a $30M growth capital raise to support expansion and commercialization. SecureKey is based in Toronto, Canada. SecureKey Technologies is a Toronto, Canada-based designer of hardware and software that enables cryptographic capabilities of debit, credit and identity smartcards. Its solutions extend to Near Field Communication (NFC)-based phones to enable online authentication and online purchases. The company provides technology to allow smartcards and NFC-enabled devices to be used for online authentication and transactions. SecureKey said it received an equity investment from Intel Capital and will use the proceeds to continue to expand. CEO Greg Wolfond commented the company is "thrilled with our association with Intel," noting Intel's leadership in chips and technologies that power everyday computing devices.

Team

  • Martine Lamoureux

    Senior Vice President, Global Enterprise Technology

    LinkedIn
  • Jabar Singh

    Senior Vice President & Head, Wholesale Banking (Chile)

    LinkedIn
  • Angela Van Damme

    Vice President

    LinkedIn
  • Ashish Gupta

    Manager MIS Projects

    LinkedIn