OKR Financial Announces Launch of $50M Fund III
Calgary, AB, August 8, 2017 – Old Kent Road Financial (OKR) is proud and excited to announce the launch of Old Kent Road Income Fund I (OKR III), our first fund to be distributed by registered dealers. As of July 19, OKR’s strategic Partner, Pinnacle Wealth Brokers EMD, released an Offering Memorandum to raise $50M for loans into Canadian technology companies.
OKR specializes in providing bridge financing to small and medium sized companies who qualify for a wide variety of accrued Canadian Government incentive programs, predominantly Scientific Research and Experimental Development tax credits (SR&ED). Building on this strategy, OKR III will broaden the available financing programs to include the very substantial digital and film industry providing funding to companies seeking alternatives to dilution from equity financing.
OKR started its first fund with a friends and family pilot project, Acheson Mobile Investments Ltd. (AMIL) with only $3M in capital to fund qualified SR&ED recipients. AMIL was the inspiration for the OKR Funds and since we began operations in 2016, Funds I and II have grown to have approx $12M under management. By the end of 2017, the OKR family of funds will collectively have up to $65M under management. Moving beyond the current Western Canada focus, our National reach will include a full time Venture Partner in Toronto heading the client and partner relationships throughout Eastern Canada.
Calgary Stampede party
The OKR Team celebrated the launch of OKR III at our Calgary Stampede party!
From the left to right; Jason Neale, Douglas Saxon, Nancy Bacon, Randy Thompson, Amanda Needham and Bill Green.