Growth Equity
from Private Investments
Investing in Canada’s Premier Pre-IPO Companies
First Tracks invests as a partner to management with fast-growing Canadian companies that are building our future.
What We Do
First Tracks invests in SMEs who are at an inflection point, where capital is required to enhance operations and accelerate growth. We focus on sectors where we have significant experience; consumer goods, financial services, industrials, manufacturing and technology companies with negative cashflows to $5M EBITDA.
Led by an experienced investment team, we evaluate the financial strength and business fundamentals required to support our liquidity target of 2x – 4x (MOIC).
At First Tracks Capital our exit strategy is designed to enhance the performance of our investments and is the primary consideration of every investment.
Our Process
The overall performance of the First Tracks portfolio is built on the
accumulated success of the sum of its parts.
Planning is essential in executing deal flow that creates shareholder value. The investment committee at First Tracks Capital rely on a well-defined set of criteria for selecting and closing investments in an expeditious time frame.
We assess the strength of the products and services that drive profits and their combined capability to support accelerated and profitable growth. Regardless of whether the company is negative cashflow or is EBITDA positive, our analysis will discover the companies’ ability in the future to secure a competitive advantage that matters.
Vetting the right target companies requires staying the course. At First Tracks we examine each potential investment paying close attention to management and their ability to adapt a clear, well defined path to value creation.
Our Difference
Our investment supports the vision of passionate entrepreneurs; by partnering with senior management we provide superior guidance in support of the capital deployed. As a member of the board of directors with each investee company, we ensure the bench strength and compliance with stated objectives for growth.
A nimble exit is the key to our finish. First Tracks designs a plan that is easily refined throughout the duration of our investment period, evaluating all pathways to exit, adjusting the strategy as required for maximum benefit to our shareholders and portfolio companies alike.
Our Experience
Investment in First Tracks Capital is an opportunity to participate in a diversified portfolio of growth holdings that possess significant upside potential.
Led by an experienced investment team, we evaluate the financial strength and business fundamentals necessary to support our liquidity target of 2x to 4x multiple on invested capital.
First Tracks Capital invests in sectors where we can add meaningful perspective from past investment experience to mitigate downside risk and enhance strategic growth.
Management will hold a board seat at each of its investee companies to ensure ongoing alignment with strategic goals and secure open lines of communication. This insider relationship will also serve to demonstrate support for growth and internal controls.
First Tracks Capital is a beacon of opportunity with an executive that has a pulse on every company in which we invest. Management has a proven track record of 1.5x to 4.5x return on capital.
Advisory
Derek Cathcart
Derek has enjoyed a 45+ year career, where he has held senior executive positions at domestic and global financial institutions with corporate lending, investment banking and proprietary investing activities throughout North America, Europe, Australia and New Zealand.
Derek received an Honours B.B.A. and an M.B.A. from the University of Western Ontario’s Richard Ivey School of Business. His is a member of the University Health Network Research Ethics Board as well as a Certified Management Accountant.
David Chait
David is co-founder and Principal of Lighthouse 22 Capital Advisors. 30+ years of experience in structured finance, venture capital, risk management, building early-stage companies primarily in the consumer and technology sectors.
David holds an MBA in Finance and a B.S.in Economics from the Wharton School of The University of Pennsylvania.
Roland Austrup
Roland Austrup is a co-founder, Chairman and Managing Principal of WaveFront Global Asset Management Corp., a Toronto based global hedge fund company with $1.7 Billion in AUM. Mr. Austrup also a co-founder and Director of Envest Corp., a downstream energy company, and an Advisory Board member for the Master of Quantitative Finance program at the University of Waterloo. Prior to joining WaveFront, Mr. Austrup was an Investment Advisor with BMO Nesbitt Burns Inc., and began his career as a Commodities Broker with ScotiaMcLeod Inc. where he was primarily involved with hedging commodity price risk for corporate clients. Mr. Austrup holds a B.A. with Honours from the University of Western Ontario.
Stacey Mowbray
Stacey Mowbray is a Corporate Director and experienced CEO/President. She sits on several public boards – Hydro One, Sleep Country Canada, Currency Exchange International and a private start up board , Bonne O Holdings, giving her a breadth of experience across industries and size of company. Previously, Stacey was the President for North America for WW International, responsible for a 1billion dollar business and the turnaround of that business, operating in the wellness space with a digital product, retail footprint and packaged goods offering. She was the CEO of Second Cup, prior to that and has had over 35 years experience in consumer facing businesses. She holds an MBA from Schulich School of Business at York and has been recognized in the industry with several awards for her contribution to business.
Robert McFarlane
Robert McFarlane is a seasoned and experienced finance executive with many years of executive experience in the North American energy and infrastructure sector. He was CFO of North America’s first merchant (independent) cross-border transmission line at Tonbridge Power, a Director of transmission development with Enbridge and he now leads Mitigokaa Development Corporation’s financing of generation for small and remote northern communities while developing projects. Rob came up though the debt capital market ranks with CIBC World Markets and holds a BA from UBC with an MBA from Ivey. He has served on numerous volunteer and corporate boards and continues to take an active role in the community. In the last 15 years he has advised on numerous projects including acquisitions and divestitures of utility assets.
Contact Us
First Tracks Capital Inc
276 King Street West, Suite 203
Toronto, ON M5V 1J2
