Founded in 1979, Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm was acquired by its current management team in 2000 and is investing its most recently established fund, Fund VII. Assets and capital under management currently exceed C$2.5 billion.

We are a relationship-oriented, hold-to-maturity lender capable of holding up to C$225 million per transaction (or USD equivalent). We can also provide larger facilities through co-investments from our institutional limited partners. We offer flexibility, dependability, confidentiality, closing speed and certainty and our broad product range gives us the ability to offer highly customized, flexible financing alternatives.

Source: Penfund


Investee companies will typically generate annual EBITDA of at least $20 million. We invest in companies that meet the following criteria:
Clearly defined, focused business strategies
Below average cyclicality
Entrenched market positions
Operating in stable markets
Generating superior returns on capital
Producing high and stable free cash flow
Capable management teams in-place

Source: Penfund

Industry Focus

Consumer services, Business services, Healthcare

Year Founded


Contact Info

Suite 1830 – 1066 West Hastings Street
Vancouver, BC V6E 3X2


Key Personnel

David Barr CFA, CEO and Portfolio manager
Felix Narhi CFA, CIO and Portfolio manager
Geoff Scott CFA, Senior vice president

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