Venture Capital Forum

October 10 – Toronto

proTECH 2019

A 360° Perspective on North American Venture Capital

proTECH executive-level forum brings together leading North American venture capital funds, qualified investors, founders and corporate leaders to address multifaceted and fast-evolving issues shaping the tech investment world. The platform facilitates rigorous assessment of prevailing VC business models, value creation and investment strategies in various stages of enterprise growth and fundraising.

Held in an intimate and highly collaborative setting, speakers and delegates share actionable insights into sourcing and securing profitable deals, fund performance/return enhancement techniques, resource allocation for portfolio companies, exit strategies (IPO, ICO, M&A), approaches to valuation and deal term negotiating. With ample networking opportunities throughout, the platform actively engages the unique perspectives of founders, LPs as well as corporate investors to fully understand the ecosystem, emerging trends and players within the VC asset class.

 

Agenda

Actionable content by and for private capital leaders

 

 

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  • ✎ goREAL 2020

    Apr 30

  • proTECH 2019

    Oct 10

  • privCAP 2019

    Sep 26

  • goREAL 2019

    May 23

  • goREAL 2018

    May 10

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • John Albright, Co-founder and Managing Partner of Relay Ventures, will provide his views on emerging trends and the future of venture capital. In a conversation with Kristine M. Di Bacco, Partner with Torys LLP, John will consider the foundations that have allowed venture capital to become a disruptive force across industries and a catalyst for innovation and economic growth. The discussion will touch on the challenges and opportunities facing VC and startup communities. Drawing from his wealth of experience at Relay, John will reflect on the kind of decisions and actions underpinning success (or failure) of venture capital investing, from dealflow to portfolio management, allocation and exit strategies. The conversation will also focus on capital flows, emerging megafunds, and how excess capital is impacting valuations.
    Keynote
    Where
    St. Andrew Hall

  • Risk/return perceptions associated with venture capital have compelled many successful funds to design and adopt intricate strategies to cope with downside risk. A panel of experienced investors with interestingly diverse and rich backgrounds will discuss multifaceted portfolio strategies key to preserving and enhancing portfolio value in uncertain, volatile times.
    Panel

  • Senia Rapisarda is Managing Director with HarbourVest Partners, a leading global private equity investment firm with a long history of innovation and success. Senia will provide an overview of the evolution of co-investing from LPs and GPs point of view: why, how and what to expect in a downturn.
    Presentation
    Where
    St. Andrew Hall

  • The panel will discuss how VC funds help drive growth, scale and profitability in portfolio companies. While chasing the goal of a profitable “exit” – how do investors value growth vs. profitability? Does it differ by industry / company? How does that impact the nature of companies investors put money into? ∙ Do all Canadian investors follow the moonshot Bay Area model, or is there another way? Are Canadian investors too timid? ∙ Portfolio companies can be supported directly through a more hands-on approach or with advice/networking. Where should VC funds be on this continuum? Why? ∙ What is something that portfolio companies consistently need help with? ∙ How do investors judge the success of their efforts helping portfolio companies? ∙ Does any of this growth thinking translate to growing a VC fund? ∙ Can a VC fund turn itself into a tech start-up? What about incubating companies internally? The panelists will also discuss drivers for deal flow, the role of angel investors, and will share their thoughts and advice on growing portfolio companies.
    Panel
    Where
    St. Andrew Hall

  • Benji Sucher is Co-Founder and General Partner at Radical Ventures, a VC firm investing in entrepreneurs applying deep tech to transform massive industries. Benji will reflect on Canada’s role in leading the world in developing AI that is disrupting industries from healthcare to finance to smart cities and everything in between, and the opportunities it presents for Radical and like-minded investors.
    Presentation
    Where
    St. Andrew Hall

  • Stephanie Choo is Partner and Head of Investments at Portag3 Ventures, a leading North American early-stage fund investing in promising financial tech companies that have potential for global impact. Stephanie will share her perspectives on FinTech, why and how financial technologies continue disrupting financial and banking sectors as well as future growth and investment opportunities in this space.
    Presentation
    Where
    St. Andrew Hall

  • A panel of experienced and diverse fund managers will address key issues in early stage investing, including but not limited to: State of the VC market: Is seed stage underserved in Canada? Why or why not? • What’s the difference between pre-seed and seed stage? • What trends or observations are you seeing in seed stage investing in Canada? (specific technologies, sectors, general transactional trends (i.e. round size, valuations) • Is there a valuation gap at seed stage between Canada, US? • How would macro economics conditions, especially a future down cycle, influence your seed stage investment activities? • Investment parameters: What do you look for in seed stage investments?
    Panel
    Where
    St. Andrew Hall

  • The availability of alternative financing options, including but not limited to venture debt, compel startups to look beyond equity when traditional venture capital or bootstrapping may not be the perfect solution. Leading Canadian startup/growth financiers will discuss why founders and the management of growing technology companies will want to consider venture debt, as well as at what point in their business lifecycle they may decide to consider it. What is revenue-based financing and how is it different from venture debt? What types of companies are best suited for revenue-based financing?
    Panel
    Where
    St. Andrew Hall

  • Jacki Jenuth, Ph.D. is Partner at Lumira Ventures, a leading North American later stage health and life sciences venture capital firm. Lumira partners and invests in best-in-class innovative biotherapeutic and medtech entrepreneurs building transformative companies. Jacki will provide and overview of the sector, what differentiates it from others and the investment opportunities in the sector.
    Presentation

  • Code Cubitt is Managing Director at Mistral Venture Partners. Mistral is a leading seed stage venture capital firm based in Canada, investing in startups that solve critical business problems, regardless of the business model – enterprise software, B2B SaaS, marketplaces. Code will reflect on the history and future of software delivered as a service.
    Presentation

  • Networking, deal sourcing, investment presentations

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Opening Remarks
    Where
    St. Andrew Hall

  • Brent Belzberg, founder and senior managing director of Torquest, will provide his views on the future of private equity. In a conversation with Professor Alexander Dyck of the University of Toronto, Brent will consider the foundations that have allowed private equity to create value in the past, as well as some of the current opportunities and challenges. The discussion will touch on the role for data analytics, to challenging macro trends of high entry multiples and significant inflows, to large investors disintermediating PE funds by direct investing, to changes in demand toward long-dated funds.
    Keynote
    Where
    St. Andrew Hall

  • A panel of experienced Private Equity GPs, who bring large-cap, mid-cap and credit perspectives, will provide their views the drivers to creating value in Private Equity deals. The discussion will examine key value driver levers on investment, during ownership and at exit. It will also consider how the relative priority of these value drivers has changed over the last 10 years and how the GPs have adapted their approaches accordingly.
    Panel
    Where
    St. Andrew Hall

  • As public equity investors increasingly embrace sustainable investing strategies, attention is turning to private equity. Several GPs and their LPs are seizing this as an opportunity to challenge the conventional (and sometimes all too negative) narrative about the broader role of private equity in society. Funds like Bain Double Impact and TPG Rise are just the beginning of what may be the next big evolution for our industry.
    Presentation
    Where
    St. Andrew Hall

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • The panel, consisting of experienced GPs, will discuss the private equity toolkit and how it can be applied to drive portfolio company value. The conversation will explore the record amounts of committed capital and leverage in the market, its effects on valuations and deal sourcing, and how fund managers have adapted to this environment. The discussion will also touch on performance measurement and key metrics, as well as the evolution of how LPs are evaluating GPs. The session will wrap up with thoughts on exit climate and strategies, from strategic sales to IPOs and secondaries.
    Panel
    Where
    St. Andrew Hall

  • Stuart M. Elman, Managing Partner of Persistence Capital Partners, Canada's leading private equity fund exclusively focused on high-growth opportunities in the healthcare field, will attempt to de-mystify investing in Canada’s healthcare market.
    Presentation
    Where
    St. Andrew Hall

  • Aging infrastructure and growing populations are driving the need for massive investment into infrastructure globally. This coupled with a demand for yield is creating the perfect storm for infrastructure investment. Where are the opportunities and how are deals getting done in today’s competitive market?
    Presentation
    Where
    St. Andrew Hall

  • Buffet Lunch + Chef's Dessert
    Where
    Edinburgh Room

  • M&A activity in the mid-market in Canada has been very healthy for years, largely in the sellers' favour. How have buyers adapted to these dynamics, at macro and deal-by-deal levels? Our panelists are from both sides of the deal, as principals and advisors.
    Panel
    Where
    St. Andrew Hall

  • A dynamic panel representing leading North American private debt funds will discuss deal flow sourcing strategies with private equity sponsors and non-sponsors, as well as the advantages of private debt vs. commercial bank lending in leveraged transactions. Discussions will also focus on strategies and best practices in portfolio management/underwriting in an economic downturn.
    Panel
    Where
    St. Andrew Hall

  • Private equity secondary has a been a fast-growing asset class globally. Here in Canada, a number of players are actively participating in the market, each with its unique area of focus. The panelists will share their thoughts on market trends, investment strategy and fundraising.
    Panel
    Where
    St. Andrew Hall

  • Ms. Granatstein will discuss how she build the private program at Canada Post to a $2 billion private equity and infrastructure program. On a go forward basis, she will discuss what she is looking for in terms of future investments and any concerns she has with the current market.
    Fireside Chat
    Where
    St. Andrew Hall

  • Networking, deal sourcing, investment presentations
    Where
    St. Andrew Lounge

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Opening Remarks
    Where
    St. Andrew Hall

  • Key global and regional trends shaping North American property markets · Late cycle investing challenges, risks and opportunities: cyclical versus structural considerations · Societal, demographic and technological shifts and disruptions shaping the real estate sector · The changing geography of jobs and economic activity · Evolving definition of real estate – blurring of traditional property sectors and rise of new ones · Capital sources (debt and equity) for real estate investment and development today and tomorrow · Looking into the future - challenges and opportunities for real estate community over the next decade
    Keynote
    Where
    St. Andrew Hall

  • Assessing distinct fund structures and product offerings on the market · Return objectives, fund characteristics, leverage, liquidity features · Investment strategies across asset classes and geographies · Innovative portfolio strategies in competitive and volatile markets (risk/return trade-offs) · Assessing core, value-add, opportunistic/development investments · Opportunities, risks, challenges in primary and secondary markets · Co-investment vehicles, pooled real estate funds, private equity capital · Trends in capital flow, emerging regional/global players, evolving investor profile Leveraging technology for operational efficiency Risk management, compliance and governance
    Panel
    Where
    St. Andrew Hall

  • Mike will be speaking about the status of the GTA development land market by reviewing recent land transactions and current trends, how the government is responding to current trends and where the projected market might be going.
    Presentation
    Where
    St. Andrew Hall

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Key demand drivers/macro to micro, interest rates/affordability, government policy, investor/owner occupier, onshore vs. offshore · Entitlements and approvals: opportunities/challenges relating to municipal process, evolving policies, community/political engagement, nimbyism · Construction cost escalation: what’s driving it and are we under sustained pressures; how are developers managing it? · Financing: land, construction, permanent; what is the lender’s view of the market and is there a gap vs. developer outlook; key constraints from the developer’s standpoint (land, construction, mezz, permanent)? · Major trends impacting development (technology, sustainability) and how companies are adapting · Joint-ventures and co-investments: private with private/ institution with institution / private with institution - are we going to see more of it? · Outlook for development growth and markets 2019/2020
    Panel
    Where
    St. Andrew Hall

  • Presentation by Derek Lobo on apartment market dynamics, reflecting on the 40 most expensive apartment transactions, cap rates across Canada, construction opportunities nationwide as well as mixed use properties, followed by discussion with Evan Kirsh on multifamily portfolio strategies, dealflow, emerging market risks and opportunities.
    Fireside Chat
    Where
    St. Andrew Hall

  • Buffet Lunch + Chef's Dessert
    Where
    Edinburgh Room

  • Student housing is an established global real estate asset class. Institutional investors have invested over $200 billion in student housing, with $15-20 billion invested annually in markets outside of Canada. Is there an opportunity to invest in Canada?
    Presentation
    Where
    St. Andrew Hall

  • WeWork, as a disruptor, seems to be move aggressively into the Toronto market (deal with Dream, JV with Ivanhoe). WeWork and co-working model – a threat or opportunity? · With tech office continuing to drive demand in the office market, what kind of space and amenities do technology companies demand? · With downtown Toronto facing one of the lowest vacancy rates, are there opportunities in the suburbs from an absorption of investment perspective? · What is driving demand for office development currently planned in Toronto? Is it a function of low availability rates downtown, new tenant amenities? · ESG and sustainable buildings are gaining a lot of traction from investors and tenants. Is the demand real or still somewhat academic? · Industrial availability rates are at historic lows, and so are industrial cap rates. investor interest outstripping fundamentals? · Where do you see the opportunity in industrial?
    Panel
    Where
    St. Andrew Hall

  • Retail in the US: transformational changes or business as usual/part of the economic cycle? · "Death of Retail”- Is there any truth to it? If so, how does it impact retail in Canada? · What can Canada learn from retail changes, trends and innovations happening around the world? Will Canada be able and/or willing to make these changes to survive? · What makes Canada retail different from the US or Europe? Why are we so special? · Is Canada ahead or behind in retailing when you look at the industry on a global basis? · Are Canadian retailers and landlords worried about changes happening in the US and globally? If so, what are they doing about it? · A number of US retailers are owned by private equity and are experiencing large financial debt loads that they are unable to service due, in part, by declining revenues. Why did this happen and what effect is it having on the retail market globally? · Entrance and expansion of luxury retail in Canada, such as HR, Sak’s, and Nordstroms, is the Canadian retail market large enough to support all of them? · Is there true meaning to the word “Placemaking” that seems to have fallen into our vocabulary? · How much influence does US retail really have on Canada? If so, which areas are most and least vulnerable? Which Canadian retailers are suffering with the recent foreign invasion? What can (or should) they do to survive?
    Panel
    Where
    St. Andrew Hall

  • Coffee, tea, refreshments
    Where
    St. Andrew Lounge

  • Assessing the dynamics in capital formation for CRE projects; evolving sources of capital · Capital stack examples on a construction project with touch points on: Role of senior debt, mezz, pref equity, deposits and land lift to boost ROI’s with minimal cash equity; Big owner perspective i.e Otera vs Create Private Money i.e Firm’s view on it - conservative vs. aggressive structure?; Commonly used pref returns and waterfall structures. Does 90-10 with 12 pref and 50-50 work or not? · Where are the opportunities in today’s market - small/mid market unsophisticated developers with a good project or a large sophisticated developer with access to cheap cost of debt capital · Who is maximizing project level ROI better? · Touch on technology - proptech, finTech, WeWork · Family office perspectives on CRE deal structuring and co-investments · Challenges and opportunities for specialized CRE debt funds in Canada
    Panel
    Where
    St. Andrew Hall

  • Networking, deal sourcing, investment presentations
    Where
    St. Andrew Lounge

  • Coffee, tea, refreshments
    Where
    Main Dining Room

  • Opening remarks
    Where
    Main Dining Room

  • Economic outlook, interest rates and how these impact short/long-term asset allocations · Key global and regional trends shaping North American property markets · Assessing the current lending environment · Social, demographic and technological changes affecting the real estate sector · Capital in and outflows, property valuation, market correction · What makes the present cycle different from previous ones; what to expect in 2020 and beyond · What should investors know today to make better investment decisions tomorrow · US vs Canada: Challenges and opportunities for investors
    Keynote
    Where
    Main Dining Room

  • Which property classes and geographies offer the best risk/return trade-offs? · Innovating portfolio-level strategy in competitive and volatile markets · Assessing core, value-add and opportunistic investments · Niche real estate investments - pitfalls and profits · Investing in secondary markets - what works, what doesn't · Fine-tuning established portfolios to market trends · Co-investment structures and stakeholder management · Leveraging technology for operational efficiency · Portfolio risk management and tax considerations
    Panel
    Where
    Main Dining Room

  • Coffee, tea, refreshments
    Where
    Main Dining Room

  • Development growth challenges and opportunities in key markets · Supply/demand in residential and commercial real estate · Coping with land/building costs and affordability · Deal structuring, financing and alternative sources of capital · Co-investment opportunities for private and institutional investors · Key technology trends impacting the construction industry · Real estate crowdfunding: competitive or complementary?
    Panel
    Where
    Main Dining Room

  • Financing a mega project like The ONE, where would developers find their cheapest source of capital since the credit crisis? · What trends do you currently observe in construction financing, and what opportunities do you see for non-bank lenders? · More private capital is available today for real estate investment than ever before. How keen are developers to access such liquidity at various stages of development? Is there room for partnership with private equity groups? · As a mixed-use project with undoubtedly prime location, it would be safe to assume The ONE is highly attractive to retail real estate investors. · How did this fact play out with project financing? · Tell us about your exit strategy… Pre-sale of residential units? Sale of retail space? What metrics do you use to make sure you will be in the green zone? · Key risk areas in large residential and commercial development projects · Profitability/success as a commercial project, and how do you plan to manage such risks? · Trends in high-rise development in Canada · Design and architectural challenges of building tall buildings · From vision to reality: navigating government approvals
    Fireside Chat
    Where
    Main Dining Room

  • Real estate investment vehicles: what is right for you? · Optimizing real estate deals (cost, structure, terms) · Transactional risk management (commercial, multi-family properties) · Trends and best practices in acquisition/disposition due diligence · Legal/tax considerations for forming and operating private real estate funds in Canada · Cross-border investments, tax strategies, offshore structures · Evolving compliance and regulatory environment
    Panel
    Where
    Main Dining Room

  • Buffet Lunch + Chef's Dessert
    Where
    Main Dining Room

  • Re-assessing multifamily investment approaches in current markets · Value-add and stabilized properties across the risk/return spectrum · Getting into the construction game: The new dealflow? · How shifting demographics and lifestyle attitudes impact the rental market · Property value and cashflow enhancement techniques · Boosting tenant acquisition and retention rates · Portfolio diversification and risk management
    Panel
    Where
    Main Dining Room

  • Running an effective fundraising campaign · How investors source and select funds · What incentives do you need to offer to LPs? · Building a momentum in the fundraising process · Raising capital from institutional firms · Strategies for securing a first strong close · Structuring your fundraising deals · Examining deal terms and capital stack · Working with placement agents · Real estate crowdfunding
    Panel
    Where
    Main Dining Room

  • Amar will talk about leading technology trends in the CRE capital space and discuss challenges faced by capital users in the private capital markets industry.
    Presentation
    Where
    Main Dining Room

  • Coffee, tea, refreshments
    Where
    Main Dining Room

  • Investment climate and trends in primary and secondary cities · Redevelopment and repositioning in response to evolving client needs · Lease negotiation techniques for increased NOI and profitability · Digitalization and outsourcing - implications for office real estate investment · E-commerce, big data, analytics - how retailers and investors cope with technology · What does the future hold for office and retail construction? · CRE portfolio strategies for premium risk-adjusted returns · Approaches to capital stack and risk management in CRE deals · Biggest opportunities in 2020?
    Panel
    Where
    Main Dining Room

  • Hotel investment outlook: travel markets, hospitality trends · What drives investor demand: local vs. foreign groups · Competition for prime assets and its impact on valuation · M&A activity and consolidation trends in key markets · Deal structuring and financing options for investors · Innovative asset value enhancement techniques · Exit climate and secondaries · Optimizing operations and auxiliary revenue drivers · Choosing your hotel operator: What every investor should know · Independent vs chain hotels · Opportunistic development
    Panel
    Where
    Main Dining Room

  • Networking, deal sourcing, investment presentations
    Where
    Main Dining Room

  • WIne, Hors d'Oeuvre
    Where
    Marconi Lounge