Canadian Business Growth Fund Makes Minority Growth Investment in Stephano Group

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.

The Stephens Group Makes Growth Investment in Kalkomey Enterprises

March 6, 2025

Education

The Stephens Group, LLC has made a minority growth investment in Kalkomey Enterprises, LLC, a Richardson, Texas-based provider of online recreational safety education and software for government agencies and consumers. The investment joins Stephens Group with existing backers Macquarie Capital and Weatherford Capital to support Kalkomey’s continued product, geographic, and market expansion.

Saint-Gobain Acquires Building Products of Canada Corp.

June 12, 2023

Building Products

Saint-Gobain has signed a definitive agreement to acquire Building Products of Canada Corp. for C$1,325 million in cash. The acquisition strengthens Saint-Gobain's exterior solutions in Canada by adding roofing and wood-fiber insulation capabilities and expands its leadership in light and sustainable construction in the Canadian market.

Canadian Business Growth Fund Invests $10M in Kudos

December 6, 2021

Cloud & SaaS

The Canadian Business Growth Fund (CBGF) made a $10 million minority growth equity investment in Calgary-based Kudos, an employee recognition and people-analytics SaaS platform. The capital will support Kudos' global expansion and accelerate hiring—Kudos expected to double headcount to about 120 employees across Calgary and Canada by the end of 2022.

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.