CVCA Announces 2026 Deal of the Year, Global Dealmaker, Barry Gekiere Lifetime Legacy, Ted Anderson Community Leadership, and Private Capital Regional Impact Award Recipients

May 27, 2026 By jjackson@cvca.ca

Halifax, NS – May 27, 2026 – The Canadian Venture Capital and Private Equity Association (CVCA) today announced the winners of the 2026 CVCA Awards this morning during a presentation, sponsored by PIXCELL – Leaders recruiting leaders, at the annual Invest Canada ’26 conference, which is taking place in Halifax, Nova Scotia.

CVCA’s most distinguished honour, the Deal of the Year recognitions, sponsored by CIBC Innovation Banking, went to:

  • BDC Capital won the 2026 Venture Capital (VC) Deal of the Year award for their investment in Ottawa, Ontario-headquartered Hyperlume.
  • TerraNova Partners LP took the 2026 Private Equity (PE) Deal of the Year award for their investment in Lindsay, Ontario-based CARMA Corp.

For general partners operating on the global stage, CVCA’s Global Dealmaker award went to:

In recognition of outstanding contributions made throughout their career, serving to advance excellence in the Canadian private capital industry:

In recognition of remarkable commitment of time and effort to a community organization or cause, we honour:

CVCA’s Regional Impact Awards, sponsored by KALOS LLP:

“This year’s recipients include Canadian funds that backed companies now building half the ambulances in North America, powering AI infrastructure, and delivering care to thousands of families in their own homes, said Benjamin Bergen, Chief Executive Officer, CVCA. “Across the deals we are recognizing today, Canadian private capital supported the creation of hundreds of jobs in communities across the country. We are also recognizing people today whose contributions were made over decades and are felt across industry and in their communities. The mentors, the institution builders, the investors who spent decades opening doors and connecting capital to communities across the country. That is the Canadian private capital industry at its best.”

“Every year the CVCA Awards committee reviews nominations from across the country, recognizing investment achievement, individual leadership, and long-term contribution to industry and community that defines a career,” said Jeff Parr, Vice Chairman at Clairvest Group and Chair of the CVCA Awards Committee. “What earns recognition is investment judgment and the kind of conviction that builds an industry beyond any single fund. That is as true of the people we are honouring today as it is of the investments. Their work, in boardrooms and in communities, has shaped this industry for decades.”

Visit CVCA Central weekly beginning June 11 to read more about each winner in detail.

2026 VC Deal of the Year Award, sponsored by CIBC Innovation Banking

BDC Capital has been awarded the 2026 Venture Capital Deal of the Year Award for its investment in Hyperlume.

Hyperlume was founded in 2022 and is headquartered in Ottawa, Ontario. The company develops optical interconnects for artificial intelligence data centres. Hyperlume had 9 employees at the time of the award.

BDC Capital supported Hyperlume with a $7M investment as part of the company’s early-stage round in 2024. BDC Capital’s investment resulted in an IRR of 505% following Hyperlume’s acquisition by Credo for CAD $22.46M.

2026 PE Deal of the Year Award, sponsored by CIBC Innovation Banking

TerraNova Partners LP has been awarded the 2026 Private Equity Deal of the Year Award for its investment in CARMA Corp.

CARMA Corp. was founded in 1977 and is headquartered in Lindsay, Ontario. CARMA is the first Measurement Canada-approved supplier of electronic submetering systems, having installed over 350,000 meters and maintaining over 150,000 suites under contract. CARMA had 200+employees at the time of the award.

TerraNova Partners first invested in CARMA in 2019. Over TerraNova’s ownership, Carma quadrupled the size of the business, made 7 acquisitions and expanded into tangential service lines. CARMA was sold to CVC DIF in late 2025, earning outsized returns for TerraNova’s LPs.

2026 VC Global Dealmaker Award

Lumira Ventures has been awarded the 2026 VC Global Dealmaker Award for its investment in HistoSonics, Inc.

HistoSonics, Inc. was founded in 2009 and is headquartered in Plymouth, Minnesota. The company has developed a non-invasive sonic beam therapy platform using the science of histotripsy, which uses focused sound energy to liquefy and destroy diseased tissue and tumors at sub-cellular levels without surgery. HistoSonics received FDA clearance for its Edison sonic beam therapy system for the non-invasive treatment of cancer, and within 24 months of launch had sold over 140 systems to hospitals globally, reaching an annual revenue run rate exceeding US$150M.

Lumira Ventures led HistoSonics’ US$54M Series C financing in 2019, organizing the participation of two strategic investors in the financing, and invested at or above its pro-rata in every subsequent financing. Lumira had tracked the company for six years prior to investing and Lumira Managing Partner Gerry Brunk held an active board role throughout, helping to syndicate four subsequent financings totaling over US$475M and negotiate its 2025 exit. Lumira Ventures received a 6.6x MOIC and an IRR of 48% when a majority stake in HistoSonics was acquired for US$2.3B by a consortium of investors including Wellington Management, K5 Global Technology, and Bezos Expeditions. In addition to its immediate liquidity, Lumira also retained a significant portion of its ownership in HistoSonics for future additional value creation.

2026 Barry Gekiere Lifetime Legacy Award, sponsored by PIXCELL – Leaders recruiting leaders

Mark Skapinker, Co-founder and Managing Partner of Brightspark Ventures, is the recipient of the 2026 Barry Gekiere Lifetime Legacy Award.

Mark Skapinker’s impact on the Canadian venture capital industry spans more than 45 years as an entrepreneur, investor, mentor, and institution builder. Before entering venture capital, he co-founded Delrina Technology Inc. in 1988 and helped build one of Canada’s earliest globally successful software companies. Delrina’s flagship product WinFax became a category-defining application worldwide; the company grew to hundreds of employees and was ultimately acquired by Symantec in one of the most significant Canadian technology transactions of its era.

In 1999, Mark co-founded Brightspark Ventures, one of Canada’s longest-standing early-stage VC firms, at a time when the country’s venture ecosystem was still developing. Over more than 25 years, Brightspark has backed companies including Radian6 (acquired by Salesforce) and Hopper, and the firm has earned multiple CVCA Deal of the Year recognitions. Mark developed a durable SPV model that broadened participation in venture capital and worked deliberately to build bridges between Ontario and Quebec, earning long-standing institutional support including from CDPQ.

Mark has served on CVCA committees and industry task forces for many years, contributed to MaRS IAF’s investment committee, and co-founded the Upside Foundation of Canada, embedding the principle that venture success should be paired with giving back and played a leading role in the Barry Gekiere Memorial Fund. Among the many emerging leaders he mentored are Sophie Forest (Brightspark), Matt Golden (Golden Ventures), Salim Teja (Radical Ventures), and Duncan Hill (Mantella Venture Partners).

2026 Ted Anderson Community Leadership Award, sponsored by PIXCELL – Leaders recruiting leaders

Isaac Olowolafe, Founder and Managing Partner at BKR Capital, is the recipient of the 2026 Ted Anderson Community Leadership Award.

Isaac Olowolafe has built a record of sustained, cross-sector community leadership with measurable impact on Black economic inclusion, housing access, health equity, and entrepreneurship in Canada.

As Chair of the Affordable Housing Committee at the BlackNorth Initiative, Isaac is leading the creation of a $65M fund to provide bridge financing for working, lower-income Black and racialized families seeking homeownership. The initiative has secured a $10M commitment from the Government of Canada and a $2.5M commitment from the Region of Peel. Isaac is also a member of SickKids’ Board of Directors, where he has championed health outcomes for the Black community through philanthropy and program creation, including the Dream Legacy Fellowship in Sickle Cell Disease, a two-year clinical training program for pediatricians in Sub-Saharan Africa developed in collaboration with Toronto Metropolitan University and SickKids’ Division of Haematology/Oncology.

Through the Dream Legacy Foundation and Dream Maker Ventures, Isaac has built a series of programs supporting Black entrepreneurship and innovation, including the Black Innovation Programs at the DMZ at Toronto Metropolitan University, the Dream Network connecting Canadian organizations, investors, and startups operating in diversity and inclusion, the Black Entrepreneurship Knowledge Hub developed with the Government of Canada and Carleton University, and the Black Innovation Connections program, which provides Black founders across Canada with coaching and $5,000 grants to fuel business growth.

2026 VC Regional Impact Award (Western Canada), sponsored by KALOS LLP

Renewal Funds has been awarded the Venture Capital Regional Impact Award for Western Canada for its investment in Cascadia Windows & Doors.

Cascadia Windows & Doors was founded in 2008 and is headquartered in Langley, British Columbia. The company operates a 90,000 sq. ft. manufacturing facility in Langley and has developed fiberglass window and wall products that deliver 100–250% better thermal performance than aluminum alternatives at comparable price points, helping developers meet BC’s Energy Step Code targets. Cascadia developed several world-first fiberglass products, including the Universal Series windows in 2015 and the first fiberglass window wall in 2019, and holds patents on its frame designs. The company’s work is featured in projects including UVic’s Cheko’nien House and the 825 Pacific Passive House tower.

Over the course of Renewal Funds’ investment, Cascadia grew from 20 employees to over 140.

2026 VC Regional Impact Award (Central Canada – Quebec), sponsored by KALOS LLP

Esplanade Ventures has been awarded the Venture Capital Regional Impact Award for Central Canada (Quebec) for its investment in BrainBox AI.

BrainBox AI was founded in 2017 and is headquartered in Montreal, Quebec. The company provides an AI-powered building management platform that reduces HVAC energy consumption by up to 25%, cuts related emissions by up to 40%, and lowers operational costs, integrating with existing building systems without requiring major capital investment. BrainBox AI had 171 employees at the time of the award.

2026 PE Regional Impact Award (Western Canada), sponsored by KALOS LLP

Clairvest Group, Inc. has been awarded the Private Equity Regional Impact Award for Western Canada for its investment in F12.net.

F12.net was founded in 1996 and is headquartered in Edmonton, Alberta. The company provides turnkey IT infrastructure, support, cloud, cybersecurity, and software licensing services for organizations with 20 to 1,000 employees, primarily in professional services, healthcare, financial services, and manufacturing.

Over Clairvest’s investment period, F12.net grew headcount from 195 to 370 employees, a 90% increase, while revenue grew approximately 150% and EBITDA grew approximately 230%.

2026 PE Regional Impact Award (Central Canada – Ontario), sponsored by KALOS LLP

PRIVEQ Capital Funds has been awarded the Private Equity Regional Impact Award for Central Canada (Ontario) for its investment in Integracare Inc.

Integracare Inc. was founded in 1990 and is headquartered in Toronto, Ontario. The company provides private nursing and home care services, supporting people to live with dignity and comfort in their own homes. When PRIVEQ Capital Funds first acquired Integracare in August 2016, the company had fewer than 70 staff. Cairn Merchant Partners joined as a partner in the investment in 2020. By the time of the award, Integracare had grown to 511 Personal Support Workers and Nurses and 19 full-time staff, representing nearly 700% growth in its care workforce. Women make up 6 of 7 members of its diverse executive team . Integracare has been recognized with multiple awards for Best Workplaces for Women, for Inclusion, for Mental Wellness, and for most trusted Executive Teams. Building Integracare’s culture of success created exceptional returns for PRIVEQ and Cairn.

2026 PE Regional Impact Award (Central Canada – Quebec), sponsored by KALOS LLP

Clearspring Capital Partners has been awarded the Private Equity Regional Impact Award for Central Canada (Quebec) for its investment in Demers Ambulances.

Demers Ambulances was founded in 1960 and is headquartered in Beloeil, Quebec. At the time of Clearspring’s initial investment in 2016, Demers had 228 employees in Quebec. By Clearspring’s exit in 2025, Quebec employment had grown to 492, a 115% increase, with most new positions being assembly line manufacturing roles in Beloeil. Total global employment grew from 232 to 1,550, a 569% increase, as Demers expanded from one manufacturing facility in Quebec to four facilities across Quebec, Saskatchewan, Ohio, and Indiana. Demers now produces one in every two ambulances in North America, with continental market share growing from 10% to 51%. During Clearspring’s investment period, Revenue grew approximately 600%, EBITDA grew approximately 1,400% and LP’s earned a 7.5x Multiple of Invested Capital.

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