Canadian venture capitalist Nagar Rahmani has joined Philadelphia, Pa.-based EnerTech Capital as a special adviser.
Rahmani will support the development of EnerTech’s Corporate Residual Fund and investment platform, with a focus on investment, strategic partnerships, and new fund strategies across energy, infrastructure, and mobility. The Corporate Residual Fund allows entities to outsource the management of their portfolios as opposed to selling their corporate venture capital assets, Rahmani told BetaKit in an email statement.
Rahmani brings experience as a principal at Toronto-based investment firm Kensington Capital Partners, one of the fund-of-funds selected to administer the federal government’s Venture Capital Catalyst Initiative. She most recently served as a partner at Maverix Private Equity, a role she held for four years before departing last February, according to her LinkedIn profile.
“That combination of fund management and hands-on innovations support makes EnerTech a compelling partner for startups and corporates.”
Nagar Rahmani
Rahmani told BetaKit that EnerTech invests in both Canada and the United States, historically allocating more than 50 percent of its portfolio to Canada. She added that she will be based out of the firm’s main Canadian office in Toronto, actively sourcing Canadian deal flow and building relationships with founders, co-investors, and corporate partners.
Founded in 1996, Enertech claims to have made 73 investments and managed over $500 million in limited partner capital commitments to date.
The firm’s current platform focuses on the mobility space in areas such as electrification, autonomy, smart mobility, and connectivity. EnerTech has offices in Toronto, Philadelphia, and Boston, as well as Palm Beach Gardens, Fla., and Orange County, Calif.
“Beyond the capital they deploy, the firm has built a deeply integrated model for engaging corporates—many of who are not just LPs, but also strategic collaborators across the investment cycle,” Rahmani told BetaKit in an email statement. “That combination of fund management and hands-on innovations support makes EnerTech a compelling partner for startups and corporates.”
Meanwhile, Toronto-based Wittington Ventures has announced a round of promotions and appointments over the past week, including a new managing partner, as it makes its final investments out of its second venture fund, managing partner Jim Orlando announced in a LinkedIn post.
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Megh Gupta, who led Wittington’s healthcare investing and built up its portfolio of healthcare startups across North America as partner, is being promoted to managing partner. In his new role, Gupta will take on additional responsibility directing the firm’s overall venture investment strategy, according to Orlando.
Wittington also promoted Qasim Mohammad, who has driven the firm’s strategy in the commerce and consumer verticals, from director to partner. Orlando said that Mohammad’s promotion comes as Wittington looks to double down on consumer-related investing across the seed, venture, and growth equity stages.
The firm also promoted Carley-Rose Horowitz, who supported work in its healthcare vertical, from associate to senior associate, and hired former Foresite Capital healthcare investor Austin Nalen Sprole as a director.
“These promotions reflect the incredible talent and dedication within our investment team, and will help to continue our momentum as we make our final few Venture Fund II investments and look forward to Venture Fund III,” Orlando said.
Wittington Ventures is the venture investment arm of the Weston family’s holding company Wittington Investments, which is behind Canadian grocery conglomerate Loblaws and Shoppers Drug Mart. Last July, Shoppers Drug Mart entered into a commercial partnership with San Diego, Calif.-based blood testing startup Truvian Health after Wittington co-led its $74-million funding round.
Feature image courtesy of Nagar Rahmani.