Navigator Global will spend $145 million to take a stake in Canada’s largest venture capital fund in a deal the firm says will give its shareholders exposure to artificial intelligence at a time of major market disruption.
The owner of a string of minority stakes in hedge funds and other investment vehicles, Navigator Global is now overseen by former Macquarie executive Stephen Darke. The ASX-listed vehicle said it would buy 4.5 per cent of Toronto-based Georgian on Monday, paying $US5 million ($7.3 million) immediately and another $US95 million over the next three years.
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