Scotiabank, Canaccord Genuity Pump Fashion and Technology Funds
Former Power Corp. of Canada executive Brett Wilson is aiming to raise $100 million for each fund, which will invest in fashion and technology companies.
Scotiabank and Canaccord Genuity’s new funds are designed to invest in the future of fashion and technology.
Former Power Corp. of Canada executive Brett Wilson is launching two new funds, each with a target of $100 million, with Scotiabank and Canaccord Genuity to invest in fashion and technology companies. The funds will make minority investments in early-stage technology venture companies and in late-stage private-equity fashion companies.
Wilson, who is the founder and CEO of the funds, said in an interview from his Toronto office that he sees a lot of opportunity in both sectors, which he believes are poised for growth in the coming years.
"Globally, fashion is a $2.5 trillion market. There is a huge opportunity to invest in companies that are innovating in this space," Wilson said. "And on the technology side, we're seeing a lot of exciting developments in areas such as artificial intelligence (AI) and machine learning that can be applied to fashion."
The fashion fund will focus on investing in companies that are using technology to disrupt the industry, such as online retailers, fashion marketplaces, and companies that are developing new materials and manufacturing processes. The technology fund will invest in companies that are developing AI-powered fashion recommendation engines, virtual fitting rooms, and other technologies that can improve the customer experience.
Wilson said he believes that the two funds are complementary, and that they will be able to provide investors with a unique opportunity to access the growth potential of both the fashion and technology sectors.
"We're excited about the opportunity to partner with Scotiabank and Canaccord Genuity on these funds," Wilson said. "We believe that our combined expertise will give us a competitive advantage in the market."
Scotiabank and Canaccord Genuity are both major players in the Canadian financial services industry. Scotiabank is one of Canada's largest banks, with a market capitalization of over $100 billion. Canaccord Genuity is a leading independent investment firm, with a focus on the technology sector.
The launch of the two funds is a sign of the growing interest in the fashion and technology sectors. In recent years, there have been a number of high-profile investments in both sectors, including Amazon's acquisition of Whole Foods Market and SoftBank's investment in Uber. Wilson believes that this trend will continue in the coming years, as more and more investors recognize the potential of these sectors.
Conclusion
The launch of the two funds is a sign of the growing interest in the fashion and technology sectors. In recent years, there have been a number of high-profile investments in both sectors, including Amazon's acquisition of Whole Foods Market and SoftBank's investment in Uber. Wilson believes that this trend will continue in the coming years, as more and more investors recognize the potential of these sectors.
