On Monday Wealthsimple closed a $750M equity raise, valuing the company at $10B. While most look to Power Corp. (POW) for exposure, given it has the largest position in dollar terms…
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We acquired and funded Wealthsimple, not as a venture capital flip, but as a strategic asset that would represent a material part of the Power Corp. and IGM franchises over the long term.
Robert Orr (CEO) - POW Q2’25 call
… IGM Financial (IGM) has the largest position in relative terms, with a ~25% stake that represents nearly 20% of its current market cap (versus ~10% for POW). With IGM’s investment growing much faster than its base business…
… and a seemingly reasonable valuation…
… the name likely has more torque than POW for investors betting on Wealthsimple’s continued success.
