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Mutual Fund
saskworks.ca

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Investments

4

Portfolio Exits

1

Funds

1

About SaskWorks Venture Fund

SaskWorks Venture Fund is a Saskatchewan-based retail mutual fund that invests in small- and medium sized private businesses. Established in 2001, SaskWorks has more than 29,000 shareholders and over $491 million in assets under management.

SaskWorks Venture Fund Headquarters Location

2nd Floor, The Assiniboia Club Building 1925 Victoria Avenue

Regina, Saskatchewan, S4P 0R3,

Canada

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Latest SaskWorks Venture Fund News

PFM Capital and Roynat Equity Partners invest in Surface Hair

Feb 15, 2022

PFM Capital and Roynat Equity Partners invest in Surface Hair CPE News (2.14.2022) – PFM Capital Inc. and Roynat Equity Partners have acquired undisclosed stakes in GHC Systems Inc. (Surface Hair). PFM made the investment through Apex III Investment Fund Limited Partnership and labour sponsored retail fund SaskWorks Venture Fund Inc. Financial terms of the transaction were not disclosed. EY Corporate Finance Inc. served as exclusive financial advisor to Surface Hair in the transaction. Founded by Wayne Grund in 2008, Surface Hair develops and sells a complete portfolio of high-performance hair care products for salons and stylists. Surface Hair carries over 200 products, comprised of shampoo and conditioner, styling products, oil treatment and colouring products. New funding will allow Surface Hair to continue to grow brand awareness, and actively pursue growth opportunities. photo credit: Surface Hair News Release PFM Capital Inc. and Roynat Equity Partners Invest In Saskatchewan Beauty Brand Surface Hair Health Art REGINA, SK, Feb. 14, 2022 /CNW/ – GHC Systems Inc. (“Surface Hair”) is pleased to announce that it has partnered with PFM Capital Inc. (“PFM”), on behalf of the Apex III Investment Fund Limited Partnership (“APEX III”) and SaskWorks Venture Fund Inc. (“SaskWorks”), alongside Roynat Equity Partners (“Roynat”), to support the execution of growth opportunities and continued expansion. Founded in 2008, Surface Hair develops and sells a complete portfolio of high-performance hair care products for salons and stylists. Surface Hair carries over 200 products, comprised of shampoo and conditioner, styling products, oil treatment and colouring products. This new partnership will allow Surface Hair to continue to grow brand awareness, and actively pursue growth opportunities. “We are excited to partner with PFM and Roynat in the growth of Surface! Our partnership provides for the highest level of continued product innovation and support for salons.” said Wayne Grund, Founder & CEO of Surface. “PFM is proud to partner with Wayne Grund and the Surface team as they continue to execute on their growth strategy,” said Jardin Schnurr, Director of Investments at PFM Capital Inc. “PFM, Roynat, and Surface share similar values and a continued focus on delivering product innovation and support to salons and customers.” “We are thrilled to be partnering with the Surface Hair team as we support the ongoing growth of this tremendous brand,” said Matt Flynn, Managing Director at Roynat Equity Partners. EY Corporate Finance Inc. served as exclusive financial advisor to Surface Hair in the transaction. About Surface Hair Surface was established in 2008 and is headquartered in Saskatchewan, Canada. Inspired by salon owner and international hair stylist Wayne Grund. Surface was founded on the principle of respecting personal health and the Earth. Surface Hair offers a culture of education, guest service and technical expertise. Surface is committed to giving back to the environment, providing natural, organic ingredients for their products and packaging as well as giving back to the community. The Surface culture is committed to growth while encouraging personal health, respecting the Earth, and helping others. For more information, please visit www.surfacehair.com About PFM Capital Inc. PFM Capital Inc. is Saskatchewan’s largest private equity investment firm with over $750 million in assets under management across several funds. Based in Regina, Saskatchewan, PFM’s niche focus allows investors to benefit from the Prairies’ economic strengths by taking advantage of the firm’s established local contact network and long-term track record. PFM is employee-owned and has been managing private equity and venture capital funds since 1993. For more information, please visit pfm.ca. About Roynat Equity Partners Roynat Equity Partners facilitates growth and creates wealth in established mid-market private companies by providing patient capital, advice and contact networks to Canadian entrepreneurs. With offices across Canada, Roynat Equity Partners is dedicated to helping mid-market companies grow and achieve their business goals. Roynat Equity Partners is a division of Roynat Capital Inc. which is a wholly owned subsidiary of Scotiabank. For more information, please visit www.roynat.com. SOURCE PFM Capital Inc.

SaskWorks Venture Fund Investments

4 Investments

SaskWorks Venture Fund has made 4 investments. Their latest investment was in Curbie as part of their Seed VC on May 5, 2021.

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SaskWorks Venture Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/11/2021

Seed VC

Curbie

$5.78M

Yes

2

11/27/2019

Series A - II

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$99M

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10

5/1/2019

Series C

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$99M

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10

12/22/2008

Series D

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$99M

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0

Date

5/11/2021

11/27/2019

5/1/2019

12/22/2008

Round

Seed VC

Series A - II

Series C

Series D

Company

Curbie

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Amount

$5.78M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

0

SaskWorks Venture Fund Portfolio Exits

1 Portfolio Exit

SaskWorks Venture Fund has 1 portfolio exit. Their latest portfolio exit was Ekos on May 28, 2013.

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

5/28/2013

Acquired

$99M

1

Date

5/28/2013

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

SaskWorks Venture Fund Fund History

1 Fund History

SaskWorks Venture Fund has 1 fund, including SaskWorks Venture Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/28/2018

SaskWorks Venture Fund

$31M

1

Closing Date

2/28/2018

Fund

SaskWorks Venture Fund

Fund Type

Status

Amount

$31M

Sources

1

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