CIC Capital Canada unveils $500 mln growth equity, buyout fund

CIC Capital Canada, an affiliate of French banking group Crédit Mutuel CM11-CIC, has launched a US$500 million North American Growth Fund. The evergreen fund, which will earmark US$150 million for opportunities in Canada, will invest in minority growth equity and buyout deals backing companies with EBITDA of about $3 million to $15 million. Preferred sectors include include food and beverage, healthcare, information technology, specialty manufacturing, business services and aerospace. Montréal's CIC Capital, which manages Emerillon Capital's venture capital fund in partnership with Desjardins Group, also said it plans to open offices in Toronto and the United States.

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