Backer North Investments is a private investment firm focused on the unquantified arbitrage within the Canadian lower-middle market. We acquire majority stakes in enduringly profitable B2B service firms to unlock 'Stranded Assets'—proprietary software and internal workflows currently tethered to billable headcount.
Vlaad Gajic, MFin
Managing DirectorManaging Director with 12+ years of IBM operational leadership. Specialized in P&L turnaround and professionalizing mid-market assets. Led post-merger integration for nine software acquisitions as an ex-IBM Senior Manager. Focuses on M&A execution and tech-enabled margin reclamation.
George Stefanovic, CFA
Financial Risk AdvisorCFA Charterholder with 25+ years in institutional risk and asset modelling. Specialist in ALM and capital markets. George provides fiduciary oversight, stress-testing private equity valuations to ensure capital preservation for the Backer North facility.
Ivica Kostanic, PhD
IP AdvisorPhD in Electrical Engineering and Associate Professor. Scientific-grade auditor of 'Stranded IP' with deep expertise in RF propagation and digital signal processing. Dr. Kostanic verifies the technical scalability and security integrity of proprietary software assets during due diligence.
Veljko Vidovic, MEng
Software AdvisorTOGAF 9-certified architect with 15+ years in enterprise SaaS. Expert in Dynamics 365 and Power Platform. Veljko led major government case management RFPs and specializes in transforming manual service workflows into automated, scalable, and exit-ready software platforms.
Fair
We believe in transparent, equitable deal structures that protect the legacy of founders while aligning incentives for the next phase of institutional growth.
Trusted
Our Triage Board acts as a fiduciary for both capital and legacy, bringing Tier-1 operational rigour and empathy to every transaction and technical transition.
Flexible
We don't force generic venture playbooks. Our 'bilingual' expertise allows us to engineer bespoke capital solutions for complex technical and operational realities.
Target Criteria:
- Syndicate Targets: $2M - $11M CAD EBITDA
- Fund-Backed Targets: $11M - $55M CAD EBITDA
- Consistent EBITDA margins of 5%+
- 20+ years of stable, profitable operations
- Evidence of internal 'Nascent Tech' or proprietary workflows
Target Geography:
- Canada (Primary focus on Ontario)
Target Industries:
- B2B Service Providers (Non-discretionary)
- Fragmented industries with aging ownership
How Can We Help?
Backer North is actively acquiring in the Canadian lower-middle market. We execute transparent transitions for owners and trusted business advisors.
If you are a business owner or advisor seeking one of the following:
Looking To Sell
We target businesses with recurring revenue, stable cash flows, and unpriced technical assets currently tethered to headcount.
Partnership Path
For owners 1-3 years from exit, we work with management to fix bottlenecks and validate the tech roadmap for an institutional rerate.