Manulife

Manulife Capital is the investment arm of Manulife Financial Corporation, headquartered in Toronto, Canada. The firm specializes in providing minority equity and subordinated debt capital primarily to mid-market companies and real estate opportunities. It focuses on series A and B startups in sectors such as fintech, insurtech, and B2B SaaS, as well as growth and capacity expansion in mature companies. Manulife Capital engages in various investment activities, including mergers and acquisitions, management buyouts, and infrastructure equity investments in areas like airports and toll roads. The firm typically invests between CAD 10 million and CAD 50 million in companies with revenues exceeding CAD 35 million and aims for a five to seven-year investment horizon. Although it prefers opportunities in Canada and the United States, Manulife Capital is open to considering investments in Asia. With over 100 direct investments, the firm has developed significant expertise across diverse industry sectors.

Don Lindsay

Chairman

17 past transactions

League

Series C in 2021
League, Inc. is a company that develops an enterprise healthcare operating system aimed at improving employee health and lifestyle. Its core offering, the Health Benefits Experience (HBX) platform, functions as a centralized hub for various health solutions, facilitating better engagement and informed decision-making among employees regarding their healthcare. The platform includes features such as a digital wallet for managing coverage and spending accounts, as well as support services for benefits enrollment and navigation. League also provides benefits administration and advisory services, catering to clients in Canada, the United States, and Europe. Founded in 2014 and headquartered in Toronto, Canada, with an office in Chicago, Illinois, League has formed strategic partnerships to enhance its service offerings and foster employee wellness.

FreshBooks

Series E in 2021
FreshBooks is the #1 accounting software in the cloud designed exclusively for service-based small business owners and independent professionals. The company has helped more than 10 million people worldwide process billions of dollars with its ridiculously easy-to-use invoicing, time tracking, expense management features. Recognized with eight Stevie awards for best customer service in the world, the company’s mantra is to “execute extraordinary experiences everyday.” Based in Toronto, Canada, FreshBooks serves paying customers in 160 countries.

Vestwell

Series C in 2021
Vestwell is a digital retirement platform founded in 2016 and based in New York, New York. The company simplifies the offering and administration of 401(k) plans by addressing common challenges faced by advisors, employers, and employees. Vestwell streamlines the process through seamless plan design, automated onboarding, and efficient administration, while also providing flexible investment strategies at competitive prices. By serving as a single point of contact, Vestwell modernizes retirement offerings, focusing on the best interests of both plan sponsors and participants.

Cinchy

Series A in 2020
Cinchy Inc. is a technology company based in Toronto, Canada, that specializes in a data collaboration platform utilizing data fabric technology. Founded in 2014, Cinchy's platform connects various data sources within a unified networked architecture, allowing organizations to manage and protect their data more effectively. This innovative approach enables real-time collaboration among multiple systems and users without the need for separate application databases. By facilitating a cross-application data network, Cinchy enhances data accessibility while improving security for both customer and employee information. The platform has been recognized for its capabilities, having received accolades such as best-of-show at Finovate and being featured in Gartner's "Cool Vendors in Data Management." Through its unique architecture, Cinchy aims to eliminate data fragmentation, reduce costs, and streamline operations for enterprises.

MindBeacon

Series A in 2019
MindBEACON Software Inc. develops BEACON software that connects people who need cognitive behavioral therapy and other evidence-based therapies with a network of clinics in Toronto. The company was founded in 2002 and is based in Toronto, Canada.

Procurify

Series B in 2019
Procurify is a cloud-based procurement software solution that gives you control and visibility. Their main goal is to help your company generate cost savings. It's done by providing a platform to streamline purchases, give optimized spending, and increase visibility throughout the entire procure-to-pay process.

Embroker

Series B in 2018
Embroker, Inc. is a digital insurance brokerage that specializes in providing insurance services for small and mid-sized businesses. Founded in 2015 and headquartered in San Francisco, with additional offices in Chicago and Boston, the company utilizes an online platform that enables clients to buy, manage, and analyze their commercial insurance policies efficiently. This platform allows users to share, request, and track proof of coverage through digital certificates of insurance and provides tools for real-time claims tracking. Embroker offers a variety of insurance products, including Commercial General Liability, property insurance, professional liability, and employee benefits, among others. The company also facilitates peer comparison, helping clients benchmark their policies against industry standards. By combining technology with brokerage expertise, Embroker aims to simplify the insurance process and enhance value for its clients in the competitive property and casualty insurance market.

MindBeacon

Series A in 2018
MindBEACON Software Inc. develops BEACON software that connects people who need cognitive behavioral therapy and other evidence-based therapies with a network of clinics in Toronto. The company was founded in 2002 and is based in Toronto, Canada.

NextCapital

Series C in 2018
NextCapital partners with world-class institutions to deliver personalized planning and managed accounts to individual investors across multiple channels including 401(k), IRA, and taxable brokerage accounts. Their open-architecture digital advice solution provides integrated account aggregation, analytics, planning, and portfolio management, and allows partners to customize advice methodology and fiduciary roles. It was founded in 1996 and headquartered in Chicago, Illinois.

Figure 1

Series B in 2017
Figure 1, Inc. operates a mobile application designed for medical image sharing, enabling healthcare professionals, including physicians, medical students, and nurses, to share images and case studies for educational and diagnostic purposes. Founded in 2012 and based in Toronto, Canada, Figure 1 has developed a global community of millions of healthcare professionals who can connect, view, and discuss various medical cases. This platform facilitates knowledge exchange and collaborative learning within the medical field, enhancing the professional development of its users.

League

Series A in 2016
League, Inc. is a company that develops an enterprise healthcare operating system aimed at improving employee health and lifestyle. Its core offering, the Health Benefits Experience (HBX) platform, functions as a centralized hub for various health solutions, facilitating better engagement and informed decision-making among employees regarding their healthcare. The platform includes features such as a digital wallet for managing coverage and spending accounts, as well as support services for benefits enrollment and navigation. League also provides benefits administration and advisory services, catering to clients in Canada, the United States, and Europe. Founded in 2014 and headquartered in Toronto, Canada, with an office in Chicago, Illinois, League has formed strategic partnerships to enhance its service offerings and foster employee wellness.

NextCapital

Series B in 2015
NextCapital partners with world-class institutions to deliver personalized planning and managed accounts to individual investors across multiple channels including 401(k), IRA, and taxable brokerage accounts. Their open-architecture digital advice solution provides integrated account aggregation, analytics, planning, and portfolio management, and allows partners to customize advice methodology and fiduciary roles. It was founded in 1996 and headquartered in Chicago, Illinois.

Innergex

Post in 2015
Innergex énergie renouvelable inc. est un chef de file canadien de l’industrie de l’énergie renouvelable. En activité depuis 1990, la Société développe, détient et gère des centrales hydroélectriques au fil de l’eau, des parcs éoliens et des parcs solaires photovoltaïques et elle exerce ses activités au Québec, en Ontario, en Colombie-Britannique, dans l'Idaho aux États-Unis et en France. Innergex Renewable Energy Inc. is a leading Canadian independent renewable power producer. Active since 1990, the Company develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario and British Columbia, Idaho, USA, and France.

Canadian Solar

Post in 2014
Canadian Solar Inc., founded in 2001 and headquartered in Guelph, Canada, designs, develops, manufactures, and sells a wide range of solar power products, including solar ingots, wafers, cells, and modules. The company operates through two main segments: Module and System Solutions (MSS), and Energy. The MSS segment focuses on the production and sale of standard and specialty solar modules, along with solar system kits that include inverters and racking systems. It also offers engineering, procurement, and construction services, as well as operation and maintenance services for solar projects. The Energy segment is involved in the development, operation, and sale of solar power projects and electricity, managing a fleet of solar power plants with a significant aggregate capacity. Canadian Solar's clientele includes distributors, system integrators, project developers, and installation companies, with a strong presence in markets across North America, South America, Europe, Asia, and beyond. The company markets its products primarily under the Canadian Solar brand and on an OEM basis.
Element Fleet Management (TSX: EFN) is the leading global fleet management company, providing world-class management services and financing for commercial vehicle and equipment fleets.

Invenergy

Venture Round in 2010
Invenergy LLC is a privately-held company that focuses on the development, ownership, and operation of sustainable power generation and energy storage facilities across North America and Europe. Founded in 2001 and headquartered in Chicago, Illinois, Invenergy has established a diverse portfolio that includes nearly 150 projects in wind, solar, natural gas, and combined heat and power generation, along with advanced energy storage solutions. The company also offers operations and maintenance services for its facilities, ensuring efficient performance and sustainability in energy production. With regional offices in various locations, including Denver, Mexico City, Toronto, Tokyo, Antioquia, and Warsaw, Invenergy plays a significant role in advancing renewable energy initiatives globally.

PTC Therapeutics

Series D in 2001
PTC Therapeutics, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of orally administered and small-molecule drugs. It offers Ataluren, an orally administered small-molecule investigational new drug for the treatment of cystic fibrosis and duchenne muscular dystrophy caused by nonsense mutations. The company also provides PTC299, an anti-angiogenesis drug for the treatment of metastatic breast cancer, multiple tumors, and neurofibromatosis. Its products are used for the treatment of genetic disorders, oncology, and infectious diseases. PTC Therapeutics, Inc. was founded in 1998 and is based in South Plainfield, New Jersey.
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