News Summary

Montréal-based private equity firm Novacap has successfully raised over $1 billion USD for its first fund dedicated to digital infrastructure investments. The fund, which surpassed its original target of $750 million USD, secured backing from a diverse group of institutional investors, family offices, and high-net-worth individuals across North America, Europe, Asia, and the Middle East. The Novacap Digital Infrastructure Fund I aims to invest up to $100 million into 10 regional companies that provide connectivity and data access services. The fund has already deployed capital in four companies, including INdigital, All West Communications, Communications Tower Group, and H5 Data Centers. Novacap’s CEO, Pascal Tremblay, emphasized the high demand for digital infrastructure driven by the growth of artificial intelligence. Founded in 1981, Novacap is one of Canada’s largest private equity firms, with a history of investing in over 250 companies and managing assets exceeding $10 billion CAD.