GreatWave said it plans to invest in Ontario-headquartered companies with sales of more than $1m which have been going for over three years.
It said it plans to take operational decisions at its portfolio companies, and will be focuses on using technology to drive efficiencies.
Chairman Rasmussen, 46, was formerly the CEO of the Royal Bank of Canada’s RBC Direct Investing business.
He told Bloomberg the firm would look for businesses “who have already got past proof of concept, and they’ve got clients and sales, but they haven’t figured out how to really leverage the model”.
GreatWave has already made its first investment by picking up ATM provider ViaCash in February for an undisclosed amount.
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