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Asset/Investment Management
fidelity.ca

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Investments

10

Portfolio Exits

2

Funds

1

Partners & Customers

2

About Fidelity Investments Canada

Fidelity Investments Canada is a provider of financial services

Fidelity Investments Canada Headquarter Location

483 Bay Street Suite 300

Toronto, Ontario, M5G 2N7,

Canada

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Latest Fidelity Investments Canada News

Fidelity's spot bitcoin ETF is set to start trading in Canada, while its US fund is still waiting for the SEC's green light

Dec 2, 2021

Blue bitcoin Fidelity has launched a spot bitcoin ETF in Canada that will start trading on Thursday. Fidelity is "the biggest asset manager to date with a bitcoin ETF", Eric Balchunas, senior ETF analyst at Bloomberg said. Spot bitcoin ETFs trade in Europe and Canada, but only futures-based ETFs have been approved in the US. Fidelity Investments is about to launch an exchange traded fund (ETF) backed by bitcoin, rather than bitcoin futures, but it's listing the fund in Canada, as US regulators have still not given these particular crypto products the go-ahead. An affiliate of the Boston-based asset manager, Fidelity Investments Canada told Insider it would launch the Fidelity Advantage Bitcoin ETF and ETF Fund "on or around  December 2" under the ticker FBTC, according to its website . The ETF's bitcoin sub-custodian, Fidelity Clearing Canada. will acquire and hold bitcoin and investors will be able to buy and sell it on the Toronto Stock Exchange. ETFs backed by physically settled bitcoin are available in Europe, as well as Canada, where regulators approved those funds in February this year. In August, French regulators let asset manager Melanion Capital list a spot bitcoin ETF of its own. "We believe that cryptocurrency is a valid asset class that we would like to provide as an investment option for retail investors in Canada by including this in our product offering," a spokesperson from Fidelity Investments Canada told Insider. US investors only have access to bitcoin-futures ETFs for now. Fidelity filed to list a spot bitcoin ETF in the US back in March, but has not got approval to do so at this point. So far, US regulators have approved bitcoin futures ETFs run by ProShares , Valkyrie and VanEck . Fidelity opted to offer a bitcoin spot ETF over a futures one because bitcoin futures are generally in "contango" which means the futures price is higher than the spot price of the underlying asset, which means investors can lose money when they roll their positions. The company also said bitcoin futures ETFs may suffer from capacity constraints due to limits on the number of futures contracts an ETF is permitted to hold at any given time. Fidelity's history with digital assets traces back to 2014, when it began research and development efforts into blockchain technology through the Fidelity Centre of Applied Technology. Some analysts believed Fidelity listing a bitcoin ETF in Canada was a blow to regulators in America. "This should be embarrassing for the SEC that one of America's biggest, most storied names in investing is forced to go up North to serve its clients," Bloomberg Senior ETF Analyst Eric Balchunas said on Twitter . Crypto giant Grayscale, which filed for a spot bitcoin ETF in October, sent a letter to the SEC on Monday saying it had no basis to approve bitcoin futures ETFs and not spot ones and by doing so violated the Administrative Protections Act (APA). Read the original article on Business Insider

Fidelity Investments Canada Investments

10 Investments

Fidelity Investments Canada has made 10 investments. Their latest investment was in Farmers Business Network as part of their Series G on November 11, 2021.

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Fidelity Investments Canada Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/18/2021

Series G

Farmers Business Network

$300M

No

8

6/29/2021

PIPE

ironSource

$1,300M

Yes

1

8/3/2020

Series F

Farmers Business Network

$250M

Yes

9

5/5/2020

Series C

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$99M

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10

9/19/2019

Series B

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$99M

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10

Date

11/18/2021

6/29/2021

8/3/2020

5/5/2020

9/19/2019

Round

Series G

PIPE

Series F

Series C

Series B

Company

Farmers Business Network

ironSource

Farmers Business Network

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Amount

$300M

$1,300M

$250M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

8

1

9

10

10

Fidelity Investments Canada Portfolio Exits

2 Portfolio Exits

Fidelity Investments Canada has 2 portfolio exits. Their latest portfolio exit was North on June 30, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/30/2020

Acquired

$991

34

00/00/0000

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$991

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10

Date

6/30/2020

00/00/0000

Exit

Acquired

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Companies

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Valuation

$991

$991

Acquirer

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Sources

34

10

Fidelity Investments Canada Fund History

1 Fund History

Fidelity Investments Canada has 1 fund, including Fidelity Global Growth and Value Class.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Fidelity Global Growth and Value Class

1

Closing Date

Fund

Fidelity Global Growth and Value Class

Fund Type

Status

Amount

Sources

1

Fidelity Investments Canada Partners & Customers

2 Partners and customers

Fidelity Investments Canada has 2 strategic partners and customers. Fidelity Investments Canada recently partnered with Richardson Wealth on August 8, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

8/26/2021

Partner

Richardson Wealth

Canada

Richardson Wealth partners with Fidelity Clearing to boost growth plans in ‘gamechanger’ pact Subscriber content

Independent wealth manager Richardson Wealth Ltd. has entered a strategic partnership with Fidelity Clearing Canada as it looks to free up capital and pushes ahead with plans to triple its assets under management over the next five years .

1

6/24/2020

Client

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10

Date

8/26/2021

6/24/2020

Type

Partner

Client

Business Partner

Richardson Wealth

Country

Canada

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News Snippet

Richardson Wealth partners with Fidelity Clearing to boost growth plans in ‘gamechanger’ pact Subscriber content

Independent wealth manager Richardson Wealth Ltd. has entered a strategic partnership with Fidelity Clearing Canada as it looks to free up capital and pushes ahead with plans to triple its assets under management over the next five years .

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Sources

1

10

Fidelity Investments Canada Team

3 Team Members

Fidelity Investments Canada has 3 team members, including current President, Scott MacKenzie.

Name

Work History

Title

Status

Scott MacKenzie

President

Current

John Loeprich

Chief Financial Officer

Former

Fred Pye

Senior Vice President

Former

Name

Scott MacKenzie

John Loeprich

Fred Pye

Work History

Title

President

Chief Financial Officer

Senior Vice President

Status

Current

Former

Former

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