Date Closed

March 1, 2024

Lead Office

Montréal

On March 4, 2024, Novacap announced the sale of its investment in Plusgrade to General Atlantic. With the transaction, General Atlantic completed a strategic growth investment and Novacap has fully exited its stake in Plusgrade. Caisse de dépôt et placement du Québec remains a significant shareholder. The transaction marks Novacap’s first TMT VI portfolio exit since its partnership with Plusgrade in 2021.

Montreal-based Novacap is a leading North American private equity firm with C$8 billion of assets under management.

Montreal-based Plusgrade is a technology company that provides ancillary revenue solutions to its partners in the airline, hospitality, cruise, passenger rail and financial services industries.

New-York based General Atlantic is a leading global growth investor with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history.

McCarthy Tétrault LLP advised Novacap with a team led by Patrick M. Shea that included Laurence Cromp-Lapierre, Charles-Étienne Pressé and Thierry Côté (Corporate and Mergers & Acquisitions).