TIMIA launches a new parent company: Montfort
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Investors

TIMIA Capital’s limited partnerships and common shares offer a range of opportunities to invest in recurring revenue technology companies.

TIMIA Capital

Suite 835 – 1100 Melville Street
Vancouver, BC
V6E 4A6
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Joel Lessem, former President at Firmex, and current TIMIA Investor.

Attractive Yields for Accredited Investors

TIMIA Capital’s limited partnership provides an opportunity to invest in a diversified portfolio of North American technology companies that delivers attractive yields through monthly income distributions.

  • 10% target return
  • Downside protection with preferred return structure
  • Active Credit Monitoring to minimize credit losses
  • Industry-leading transparency via quarterly financial disclosures
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Distributions may vary year to year based on changes to the net asset value of the limited partnership. There is no assurance that the partnership will make distributions at its targeted rate. This is a risky investment. Significant losses can occur in the portfolio if defaults occur with underlying investments.

Proactive Risk Management

  • At the Fund Level

    - Subordinated capital provides a cushion for the preferred return units against loan losses
    - Gross return would need to fall by 35% before preferred return units are affected
    - Detailed quarterly reporting with full financial disclosures enhances portfolio transparency

  • At the Portfolio Level

    - Proprietary FinTech credit model manages underwriting exposure
    - Active Credit Monitoring of portfolio
    - Continuous analysis of performance metrics provides the ability to act early

Fund Overview

Preferred Unit Target Return Class A: 10% Fund Currency USD
Subordinated Capital ~30% of fund Closing Continuous
Distribution Monthly Term 10 Years
Management Fee 2% Distribution Reinvestment Available
Performance Fee for Preferred Units None Redemption* Quarterly after 12 months
Use of Leverage Cash management only Eligibility Accredited Investors
Minimum Investment  Class A     $250,000 RRSP / TFSA Eligible

 

* Redemption is capped at 5% of the fund. TIMIA Capital reserves the right to suspend or defer redemptions under certain circumstances.

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Prior Fund Metrics

  • 16.4 % IRR (net to investor since inception)
    28% of investment from TIMIA founders
  • 12.8% IRR (expected return to investors)
    27% of investment from TIMIA founders
Portfolio Company: Wagepoint, Atlanta, GA

Portfolio Profile

  • Terms of 2-5 years, with escalating payments as revenue increases
  • Risk-adjusted pricing between 14% and 19%
  • Additional returns from early exit premiums
  • General security agreements over all company assets
  • 80% of investments in USD, remainder in CAD
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TIMIA's track record since inception in 2015

  • 24%
    Gross IRR
    (annualized)
  • Zero
    Defaults
    (Total credit loss of $138,000)
  • 46
    Loan investments
  • 20
    Successful early exits
TIMIA Capital Team

About TIMIA

Our management and executive team comprises technology finance experts as well as former entrepreneurs and angel investors. We’ve been in the tech space for a long time—long enough to have seen the ups and downs of several economic cycles. We know there are easier sectors to grow a finance business but one thing we all share is a passion for technology and value creation—value for the founders we invest in and for our shareholders and investors. Our diverse experience creates an environment of governance and accountability for all stakeholders.

Above all, we’re good people. And we invest in good people building good companies.

Market Overview

TIMIA has developed a proprietary loan origination platform that services private market, high-yield loan opportunities, thereby earning recurring fees and a share of the profit. While focusing on the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment, TIMIA’s automated loan origination system is applicable to multiple technology sectors, it creates scalable and profitable growth for TIMIA’s stakeholders.

  • Offers a unique debt solution for companies with annual revenue ranging from $2 million to $10 million
  • Debt financing solutions provide a longer term horizon and leave control with the entrepreneur while being protected by a secured position and monthly cash payments
  • Track record of consistently delivering predictable, market leading returns
  • Publicly-traded company subject to public reporting regulations

Experienced Management Team

    • Mike joined the company as the CEO in August 2015, building the Company to $140M in AuM
    • Co-Founder and Managing Partner of Fronterra Capital
    • Managing Partner, CFO at Chrysalix Energy
    • 20-plus years of experience in Canada’s venture capital and private equity industry
    • Cofounder and partner in Tech Capital Partners Inc.
    • Founder of TCP Property Inc.
    • Accountant at PwC
    • Investment manager at Working Ventures
    • Joined TIMIA in 2017
    • Previously an Associate Director at Espresso Capital
    • Actively involved in the startup community both advising early stage software companies
    • Selection Committee for Canadian Financing Forum and BC Tech Summit Investor Showcase.
    • Bachelor of Commerce (Honours) in Finance from the University of British Columbia.
    • Canadian chartered accountant
    • 16 years audit and assurance experience with PwC
    • Specialist in accounting and financial reporting under IFRS, ASPE, Public Sector Accounting Standards, US GAAP, and SEC Reporting in a variety of industry including technology and insurance
    • Graduate of University of Western Ontario

Board of Directors

  • Howard has been in the financial services industry for over three decades with experience in investment advisory, investment management, capital markets and the C suite. His roles have included positions in sales, marketing, sales management and corporate spokesman spanning Canada, United States, Asia and South America.

    Howard has successfully lead growth throughout his career including at two companies where assets under management grew from $100 million to $5 billion and $3.5 billion to $14 billion, respectively. He is a best selling author of numerous articles and four books including The New Investment Frontier: A Guide to Exchange Traded Funds for Canadians (Insomniac Press, 2005), the first book in the world devoted to ETFs.

    He has over a decade of experience as a corporate director for non – profits, public companies and private enterprises. Specifically he has board experience on Audit, Governance, Nominating and Human Resources/Compensation committees and as Chairman of the board. Howard holds the CFA, CIMA and ICD.D designations.

  • David Demers was the CEO and Co-Founder of Westport Fuel Systems (TSX:WPRT) for over 20 years. He has extensive TSX and board experience, as well as strong knowledge of the technology sector.

    David has a Bachelor of Science (Physics) from the University of Saskatchewan.

  • Paul Geyer is a successful Medtech Entrepreneur, experienced Board member, Angel Investor and Venture Capitalist. Over the past 27 years as an investor and serial entrepreneur, Paul has built several successful companies, including Mitroflow International Inc., Neovasc Inc. and LightIntegra Technology Inc. Paul is well known for his work supporting and mentoring entrepreneurs and future leaders of the tech industry. His passion for giving back is seen in the many board roles he has held, including: Administrative Chair, LightIntegra Technology Inc.; Chairman of the Board, Neovasc Inc.; G7 Fellow, Creative Destruction Labs – CDL West; Board of Directors, Entrepreneurship at UBC; Board of Directors, BCTECH; Advisory Council Member, UBC Engineering, Applied Science; and Industry Advisory Council, UBC Electrical Engineering department. In 2010 Paul was awarded the British Columbia Angel Investor of the year, and in 2011 he received the BC Life Sciences Leadership Award. He holds a B.A.Sc, Electrical Engineering from The University of British Columbia (1983 – 1988) and Certified Director, Certified Director Program, UCLA Anderson School of Management (2006), Canadian Securities Course (1988).

  • Jan is a Co-Founder & President of Valhalla Private Equity and a Director at Genome Canada. She is a past Chair of the Board of Governors at the University of Manitoba; retired senior partner at Thompson Dorfman Sweatman, LLP; and a co-founder of Innovate Manitoba, a private sector led non-profit formed to drive innovation, accelerate startup growth, and stimulate access to capital in Manitoba. Jan is an active angel investor and a Director of a number of startups. Jan practiced business law for 30 years and retired as a partner of Thompson Dorfman Sweatman LLP in 2015. In practice, Jan focused on mergers and acquisitions, divestitures, startups, investment, and finance. Jan was for many years named to the Best Lawyers in Canada in Mergers and Acquisitions Law and Leveraged Buy-Outs and Private Equity Law. In addition to her Bachelor of Arts and Juris Doctor, Jan holds a Certificate from the Program on Negotiation at Harvard Law School and a Blue Belt in Innovation Engineering. Jan was awarded the Queen Elizabeth Diamond Jubilee Award in 2012 and the Queen Elizabeth Golden Jubilee Award in 2002 in recognition for her contributions to the community. In 2018 she was honoured with the Distinguished Alumni Award of Excellence by the University of Manitoba.

  • Thealzel joined the board of TIMIA in April 2014. She manages the monthly Vancouver Angel Technology Network (VANTEC) and the Vancouver chapter of the Keiretsu Forum (Northwest Region) for the local startup community of entrepreneurs and angel investors.  She also serves on committees with the National Angel Capital Organization (Canada) and the Angel Capital Association (U.S.). She is a founder of two angel seed funds: Nelsa Investment (VCC) Inc. and VANTEC Entrepreneurs Fund (VCC) Inc., which has 40 percent of its portfolio invested in “green technology” companies based in British Columbia.

    Thealzel holds a Bachelor of Science degree in Microbiology from the University of Alberta, and an Masters of Business Administration from the Richard Ivey School of Business at the University of Western Ontario.

  • Robert is co-founder and managing director of Promerita Capital Partners, and has twenty years of experience in corporate finance and investment. For the past fourteen years, Robert has focused on subordinated debt, mezzanine and equity investing. He has completed over 80 deals across various industries, including buyouts, acquisitions and growth financing. Prior to Promerita Group, Robert was co-founder and vice president of First West Capital, an institutionally backed subordinated debt and mezzanine finance provider for small and medium sized companies. Robert previously held executive roles in investment management and corporate finance with other leading global and regional firms including Vancity Capital & PricewaterhouseCoopers. Robert is the past President of the Association for Corporate Growth (ACG), BC Chapter, the middle market deal association for corporate finance and M&A professionals. He holds two Honours Degrees in Commerce and Law from Monash University, Australia along with a Graduate Diploma in Applied Finance and Investment, is a CPA-CA in Canada and Australia and is a former adviser to the Accounting Standards Board of Canada (AcSB) on Accounting Standards for Private Enterprises (ASPE).

Howard has been in the financial services industry for over three decades with experience in investment advisory, investment management, capital markets and the C suite. His roles have included positions in sales, marketing, sales management and corporate spokesman spanning Canada, United States, Asia and South America.

Howard has successfully lead growth throughout his career including at two companies where assets under management grew from $100 million to $5 billion and $3.5 billion to $14 billion, respectively. He is a best selling author of numerous articles and four books including The New Investment Frontier: A Guide to Exchange Traded Funds for Canadians (Insomniac Press, 2005), the first book in the world devoted to ETFs.

He has over a decade of experience as a corporate director for non – profits, public companies and private enterprises. Specifically he has board experience on Audit, Governance, Nominating and Human Resources/Compensation committees and as Chairman of the board. Howard holds the CFA, CIMA and ICD.D designations.

David Demers was the CEO and Co-Founder of Westport Fuel Systems (TSX:WPRT) for over 20 years. He has extensive TSX and board experience, as well as strong knowledge of the technology sector.

David has a Bachelor of Science (Physics) from the University of Saskatchewan.

Paul Geyer is a successful Medtech Entrepreneur, experienced Board member, Angel Investor and Venture Capitalist. Over the past 27 years as an investor and serial entrepreneur, Paul has built several successful companies, including Mitroflow International Inc., Neovasc Inc. and LightIntegra Technology Inc. Paul is well known for his work supporting and mentoring entrepreneurs and future leaders of the tech industry. His passion for giving back is seen in the many board roles he has held, including: Administrative Chair, LightIntegra Technology Inc.; Chairman of the Board, Neovasc Inc.; G7 Fellow, Creative Destruction Labs – CDL West; Board of Directors, Entrepreneurship at UBC; Board of Directors, BCTECH; Advisory Council Member, UBC Engineering, Applied Science; and Industry Advisory Council, UBC Electrical Engineering department. In 2010 Paul was awarded the British Columbia Angel Investor of the year, and in 2011 he received the BC Life Sciences Leadership Award. He holds a B.A.Sc, Electrical Engineering from The University of British Columbia (1983 – 1988) and Certified Director, Certified Director Program, UCLA Anderson School of Management (2006), Canadian Securities Course (1988).

Jan is a Co-Founder & President of Valhalla Private Equity and a Director at Genome Canada. She is a past Chair of the Board of Governors at the University of Manitoba; retired senior partner at Thompson Dorfman Sweatman, LLP; and a co-founder of Innovate Manitoba, a private sector led non-profit formed to drive innovation, accelerate startup growth, and stimulate access to capital in Manitoba. Jan is an active angel investor and a Director of a number of startups. Jan practiced business law for 30 years and retired as a partner of Thompson Dorfman Sweatman LLP in 2015. In practice, Jan focused on mergers and acquisitions, divestitures, startups, investment, and finance. Jan was for many years named to the Best Lawyers in Canada in Mergers and Acquisitions Law and Leveraged Buy-Outs and Private Equity Law. In addition to her Bachelor of Arts and Juris Doctor, Jan holds a Certificate from the Program on Negotiation at Harvard Law School and a Blue Belt in Innovation Engineering. Jan was awarded the Queen Elizabeth Diamond Jubilee Award in 2012 and the Queen Elizabeth Golden Jubilee Award in 2002 in recognition for her contributions to the community. In 2018 she was honoured with the Distinguished Alumni Award of Excellence by the University of Manitoba.

Thealzel joined the board of TIMIA in April 2014. She manages the monthly Vancouver Angel Technology Network (VANTEC) and the Vancouver chapter of the Keiretsu Forum (Northwest Region) for the local startup community of entrepreneurs and angel investors.  She also serves on committees with the National Angel Capital Organization (Canada) and the Angel Capital Association (U.S.). She is a founder of two angel seed funds: Nelsa Investment (VCC) Inc. and VANTEC Entrepreneurs Fund (VCC) Inc., which has 40 percent of its portfolio invested in “green technology” companies based in British Columbia.

Thealzel holds a Bachelor of Science degree in Microbiology from the University of Alberta, and an Masters of Business Administration from the Richard Ivey School of Business at the University of Western Ontario.

Robert is co-founder and managing director of Promerita Capital Partners, and has twenty years of experience in corporate finance and investment. For the past fourteen years, Robert has focused on subordinated debt, mezzanine and equity investing. He has completed over 80 deals across various industries, including buyouts, acquisitions and growth financing. Prior to Promerita Group, Robert was co-founder and vice president of First West Capital, an institutionally backed subordinated debt and mezzanine finance provider for small and medium sized companies. Robert previously held executive roles in investment management and corporate finance with other leading global and regional firms including Vancity Capital & PricewaterhouseCoopers. Robert is the past President of the Association for Corporate Growth (ACG), BC Chapter, the middle market deal association for corporate finance and M&A professionals. He holds two Honours Degrees in Commerce and Law from Monash University, Australia along with a Graduate Diploma in Applied Finance and Investment, is a CPA-CA in Canada and Australia and is a former adviser to the Accounting Standards Board of Canada (AcSB) on Accounting Standards for Private Enterprises (ASPE).

Andrew Abouchar, CFO, TIMIA Capital

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