Success Stories: How the Canadian Business Growth Fund Helped Canadian Companies Thrive

Canadian business owners across the country pride themselves on building or scaling up their companies. But everyone can use some help every now and then – and that’s exactly what the Canadian Business Growth Fund (CBGF) has to offer.

As minority investors, we provide Canadian business owners with the capital they need while ensuring they have control over their companies. And the model works! The following are just a few examples of how we have helped Canadian companies thrive.


Vancouver based tech company, Appnovation, turned to CBGF in 2019 when the founders were looking to take the business to the next level. Arnold Leung, Founder and CEO, says he was excited when he discovered CBGF, as it was a fund that was evergreen to support entrepreneurs within the country. Within a short timeframe, CBGF was able to help the Canadian tech company achieve a five-year revenue growth of 520% and rank 175 on the annual Growth 500 list by Canadian Business and Maclean’s.


Arlene Dickinson trusts CBGF as a funding partner in her role as Co-Managing Partner and Executive Chair of believeco:partners, a marketing agency consolidator based in Calgary. As one of the stars of CBC’s Dragon’s Den and an avid investor herself, Dickinson knows a thing or two about the industry, so we are incredibly proud that she has shared her testimonial.

“The reason we ended up selecting CBGF as our private equity partner was because of their true demonstration of the understanding of entrepreneurialism, their belief in the Canadian market and their support of the Canadian market, and their value system. Between the values of the executives that we are working with; between the expression of support for entrepreneurs; and between the national agenda, we loved that they were so lined up with what we we’re trying to do as well,” says Dickinson.


Busbud, a travel services company that focuses on inter-city bus tickets around the world, was CBGF’s first investment in a company based in Quebec. LP Maurice, CEO and Co-Founder of Busbud, was impressed not only by CBGF’s investment process but also by the support we give to companies we invest in.

For example, when the company expanded into Asia, the CBGF team identified a financial consultant within our network who had extensive experience in the particular country that Busbud was targeting. This consultant was able to guide the company on its market entry strategy, which according to Maurice, was an important factor in their success.

Felix Health

Emma Stern, Co-Founder and COO at Felix Health, was appreciative of having CBGF as a minority partner in her business. “When we were considering a partnership with CBGF, there were really three crucial things that we were looking for in a partner,” says Stern. “One, was someone who shared our excitement about our business and the space we operate in; the second thing we were looking for was someone willing to take the time to understand our business in its entirety; and third, we were looking for a smart partner – smart people whose input we value and who we were excited to work with and learn from, and we found all three in CBGF.” Stern also notes that she appreciated the flexibility she had with CBGF, where she did not feel her company was forced into a certain round size or timing. Instead, CBGF worked with Felix to determine what was best for the needs of the company.

Is CBGF right for your company?

If you own a Canadian company and are looking for a minority partner, we invite you to contact us to see if we might be a good fit to help you scale. We have helped many Canadian companies gain access to patient, minority capital and a value-add partner, and it is our ongoing mission to help many more do the same.