Canada’s Private Equity firm Bags $1 Billion in AI-Fueled Digital Gold Rush

22 January 2025

Novacap Investments Inc., a private equity heavyweight from Brossard, Quebec, just closed a $1 billion fund to supercharge digital infrastructure—think faster, stronger, smarter tech. It took two years of hustle and charm to lock in the cash, navigating a choppy sea of rising interest rates and sluggish acquisitions. But Chief Executive Pascal Tremblay is all smiles. “Yes, it was long. Yes, it was hard. But we crushed it,” he said, reveling in their overachievement on an initial $750 million target.