Avrio Capital, Novacap win CVCA’s 2016 deal of the year awards
Avrio Capital and Novacap are the 2016 recipients of the Canadian Venture Capital & Private Equity Association's (CVCA) “Deal of the Year” awards. Calgary-based Avrio won in the venture capital category for last year’s sale of Fresh Hemp Foods Ltd, a natural foods producer, to U.S. private equity firm The Compass Group. The deal, profiled last July by PE Hub Canada, gave Avrio almost 8.67 times its invested capital and an internal rate of return of 48.24 percent. Montréal-based Novacap won in the private equity category for last year’s public sale of Stingray Digital Group, a music provider and media platform. The sale, profiled last June by PE Hub Canada, gave Novacap about 7.9 times its invested capital and an internal rate of return of 33.8 percent.
