Canadian Business Growth Fund Invests $10M in Kudos

Canadian Business Growth Fund Invests in Appficiency Inc

February 10, 2026

IT Services

Appficiency Inc., a global IT consulting firm and software business, announced it received a minority equity investment from the Canadian Business Growth Fund (CBGF). The funding is intended to accelerate AI innovation, expand Appficiency’s delivery capabilities, and support growth across enterprise technology platforms including Oracle NetSuite, Salesforce, and Microsoft.

Susquehanna Growth Equity Leads $100M Growth Investment in Virtuous

September 19, 2024

Cloud & SaaS

Virtuous, a Phoenix-based provider of fundraising CRM software for nonprofits, raised a $100 million minority growth investment led by Susquehanna Growth Equity (SGE). The capital will accelerate product innovation (including AI tooling and expanded integrations) and bolster customer success and services; SGE partners Ben Weinberg and Aneesha Raghunathan will join Virtuous' board.

K1 Invests $47M Minority Stake in HR Acuity

October 19, 2021

Cloud & SaaS

K1 Investment Management made a $47 million minority growth investment in HR Acuity to help the HR case management and predictive insights SaaS provider scale its product and go-to-market capabilities. The funding will support talent hires and product innovation as HR Acuity expands its cloud solutions for enterprise employee relations teams.

Canadian Business Growth Fund Makes Minority Growth Investment in Stephano Group

September 29, 2021

Food & Beverage

The Canadian Business Growth Fund (CBGF) has made a minority growth equity investment in Stephano Group Ltd., a family-owned Canadian CPG food manufacturer headquartered in Etobicoke, Ontario. The capital will be used to expand sales and marketing, corporate infrastructure, and manufacturing capacity as Stephano pursues growth across Canadian and U.S. retail and foodservice channels.

Canadian Business Growth Fund Makes Minority Investment in Proposify

June 9, 2020

Cloud & SaaS

The Canadian Business Growth Fund (CBGF) has made a minority equity investment in Nova Scotia–based proposal-management SaaS company Proposify. The funding is intended as patient growth capital to help Proposify scale its business, prepare for future growth, and expand its market reach.

Canadian Business Growth Fund Invests in MaxSold

June 2, 2020

E-Commerce

Canadian Business Growth Fund (CBGF) completed a growth equity investment in MaxSold Incorporated to accelerate the downsizing and estate-sale marketplace’s growth and cross-border expansion. The funding will support market expansion, product investment and increased scale across Canada and the United States.