2007 stats for Canadian & U.S. Mezz / Sub / Venture debt
Here is the first cut of the 2007 marketshare statistics for all reported & drawn venture debt, sub debt, and mezzanine debt provided by Canadian-based debt funds to firms on both sides of the border. Borrowers include both domestic and U.S. firms. We ran the data for Canadian borrowers last week (see prior post “2007 stats for Canadian Mezz / Sub / Venture debt“, January 17-08). This data is from a variety of sources. The figures cover January – December 2007.
(in millions; marketshare figure in right column; full credit to lead where known)
1. BDC Subordinate Finance $87.8 16.7%
2. Wellington Financial $83.4 15.8%
3. BMO Capital $83.0 15.8%
4. MMV Financial $53.0 10.1%
5. McKenna Gale $50.0 9.5%
6. ROI Fund $46.6 8.9%
8. KERN Partners $25.0 4.8%
9. Duff Ackerman & Goodrich $15.9 3.0%
10. VentureLink $8.2 1.6%
11. VenGrowth $7.0 1.3%
T13. Knight’s Bridge Capital $3.5 0.7%
T13. Roynat Capital $3.5 0.7%
Subtotal $513.2 97.5%
Total $526.3
If you can help us improve this data, please post a comment or send an email.
(as at Jan. 11/08 and public information)
MRM
Canada only did about $50M in the US last year… How much do the American sub-debt guys do in Canada? Comerica, etc.
Isn’t Duff Ackerman based out of San Fran?
Yes, Duff Ackerman is based in SF – they led a mezz deal that included OTPP, hence its inclusion on Thomson Financial. (Our summary table gives full credit to lead investor.)
American lenders typically don’t report to Thomson and we don’t have details on their volume in Canada.
Thanks! I tried a search in Thomson VentureXpert for US Firms that did Canadian deals in 2007. Came up with a list of 87 Canadian companies, but it includes all VC, Mezz and PE and in some cases multiple rounds. Can send you the list if your interested.
I think we’re working with the same list, but if you know of “mezz” deals that aren’t included in our summary tables, we’d love to get the details.