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Mark Attanasio is co-founder and managing partner of Hillcrest Merchant Partners, a Toronto merchant bank and venture capital firm focused on a wide range of industries
Alongside managing partner Donato Sferra, the executives work with their portfolio of companies on several core areas of advisory services, including equity and debt structuring, reverse takeovers, M&A and the private-to-public process.
We recently sat down with Mark to get his insight on becoming a successful venture capitalist.
Q: Could you provide our readers with a brief background of Hillcrest Merchant Partners? What makes it unique?
Mark Attanasio: Hillcrest Merchant Partners is a Toronto-based merchant bank and venture capital firm focused on early stage and mid-market growth companies. The firm also advises companies that seek additional capital and/or strategic acquisitions. What makes Hillcrest Merchant Partners unique is that we use our own capital to invest in early stage companies, mostly private companies, so we really back the entrepreneur, and we are industry agnostic.
Q: Tell us specifically about your history and how you started?
Mark Attanasio: I grew up in Vancouver and attended the University of British Columbia, earning my degree in science. I decided to pursue my CA designation after graduating from university. After my education, I spent four years in investment banking doing mergers and acquisitions and that really taught me the mechanics of how to raise capital and structure transactions. I eventually shifted my career focus and moved to Dundee Corporation as Executive Vice President of Merchant Banking, overseeing a portfolio of investments in multiple sectors. I went on to become President of Dundee Capital Markets.
From there, I led a management buyout of Dundee Capital Markets and became co-founder and CEO of newly-retitled Eight Capital, which led me to where I am today, co-founder of Hillcrest Merchant Partners.
Q: Hillcrest Merchant Partners invests in startups operating in a range of industries. What do you look for when assessing potential investment clients?
Mark Attanasio: While we don’t have a specific type of client, typically what we are looking for are high-thriving sectors that have significant growth opportunities and an ability to disrupt the market.
Q: What are some of the challenges you face as a venture capital company?
Mark Attanasio: In Canada, there is a lack of early stage venture capital for private companies. Many entrepreneurs have great ideas, but I don’t think the Canadian marketplace has the depth of true risk capital that I would compare to our neighbors down south in the United States. So as merchant bankers, it’s challenging. We’ll raise the first round of capital, but the biggest challenge is finding the second or third round of capital where entrepreneurs can maintain their private business and not have to seek alternate financing sources other than traditional equity.
Q: How do you de-stress both personally and professionally?
Mark Attanasio: Outside of work, I like to spend time with my wife and kids. On a professional basis, I honestly don’t view my day job as “work.” For me my day job is 24/7 and I really enjoy it.
Q: Define success.
Mark Attanasio: Success on a personal level is watching my kids growing up, and spending as much family time as possible. Professionally, it’s being able to help other companies succeed.
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