How can I contact Northleaf about privacy questions?

If you have any questions about our Privacy Policy or your information, or to exercise any of your rights as described in this Privacy Policy or under data protection laws, you can contact us at contact@northleafcapital.com

What data protection principles does Northleaf follow?

Northleaf adheres to the following principles: lawfulness, fairness and transparency; purpose limitation; data minimisation; accuracy; storage limitation; and integrity and confidentiality when processing personal information.

What personal information does Northleaf collect?

Northleaf collects information you provide through the website, email, phone or other communications including contact information, account/financial information, identification information, government identification information, and cookies/analytics data when you request information, do business with us, or invest with us.

How does Northleaf use my personal information?

Northleaf uses personal information to do business with you, identify and assess suitability of investors, perform background screening, comply with anti-money laundering and KYC policies, administer accounts, carry out contractual obligations, provide requested information, send updates on products and services, invite you to events, secure access control, meet regulatory requirements, comply with tax requirements, administer the website, improve website effectiveness, and keep the website safe and secure.

Does Northleaf share my personal data with third parties?

Northleaf will not sell, rent, lease or otherwise share your personal information other than as outlined in this Privacy Policy or without obtaining your consent beforehand. Personal information may be shared with affiliates, third-party service providers, business partners, professional advisers, prospective buyers in business transactions, and when required by legal or regulatory obligations.

Does Northleaf transfer personal information internationally?

Yes, it may be necessary to transfer your personal information outside of the country in which it was collected when transferring to affiliates and service providers in other countries. Northleaf exchanges personal information between offices in Canada, the USA, UK and Australia, and takes steps to ensure transfers comply with GDPR and provide appropriate safeguards including standard contractual clauses.

How does Northleaf secure my personal data?

Northleaf uses appropriate technical and organisational security measures to protect personal information both online and offline from unauthorised use, loss, alteration or destruction. Physical and procedural security measures are used from collection to destruction. In the event of a data breach, Northleaf has procedures to deal with suspected breaches and will notify you and applicable regulators where required.

How long does Northleaf keep my personal data?

Northleaf retains personal information only for as long as necessary for the purposes set out in this Privacy Policy, unless a longer period is permitted or required under applicable law or needed to resolve disputes or protect legal rights. Retention periods are determined by considering the amount, nature and sensitivity of data, potential risks, processing purposes, and applicable legal, regulatory, tax, accounting or other requirements.

What rights do I have regarding my personal data?

You have the right to access your personal information through a data subject access request, request data portability, correct or remove inaccurate information, object to processing for direct marketing purposes, object to processing based on legitimate interests, request rectification of inaccurate or incomplete information, request erasure (right to be forgotten) in certain circumstances, and restrict processing. You can exercise these rights by contacting Northleaf at contact@northleafcapital.com

How can I object to direct marketing?

You have the right to object at any time to processing of your personal information for direct marketing purposes. You can unsubscribe by contacting unsubscribe@northleafcapital.com or update your privacy preferences by contacting Northleaf.

What cookies does Northleaf use?

Northleaf uses cookies including has_js for basic site functionality, Google Analytics cookies for visitor tracking and website usage analysis, and FIS cookies (dxSession, ASP.NET_SessionID, DXToken) for session management and login functionality. By continuing to browse the website, you agree to the use of cookies. You can set your browser not to accept cookies, though some features may not function as a result.

How do I make a complaint about privacy practices?

If you have questions or concerns regarding privacy practices, contact Northleaf at contact@northleafcapital.com. You also have the right to make a complaint to the Information Commissioner's Office (ICO) at https://ico.org.uk/, though Northleaf would appreciate the chance to address concerns before you approach the ICO.

Global Privacy Policy

Introduction

Northleaf (which includes Northleaf Capital Partners Ltd. and the Northleaf group of companies and its subsidiaries and affiliates) and Inovia (which represents Inovia Capital Inc. and the Inovia group of companies and its subsidiaries and affiliates) (Northleaf and Inovia together, “we” “us” or “our”) are committed to respecting your privacy. This Website Privacy Notice explains how we collect, use and disclose the personal information relating to natural persons that we receive when you visit this website. This Website Privacy Notice should be read together with the respective privacy policies of Northleaf and Inovia which can be accessed using the links below. Northleaf’s and Inovia’s privacy policies may include additional disclosures regarding the categories of personal information collected, the purposes for which such information is used, whether it is shared, and the rights available to you to access, update, or delete your information. We encourage you to review each entity’s respective privacy policy for more information

Northleaf Global Privacy Policy

Inovia Privacy Policy

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Links to Third Party Sites including Social Media

This website may include links to other websites and digital services operated by third parties. This Website Privacy Notice does not apply to, and we are not responsible for, the content, privacy policies or data practices of third parties that collect your information. We encourage you to review the privacy policies for those third parties to learn about their information practices.

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Children

This website is not intended for or directed at children under the age of 18 years, and we do not knowingly collect information relating to children under this age.

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Cookies

In order to improve the website, we may use small files commonly known as “cookies”. A cookie is a small amount of data which often includes a unique identifier that is sent to your computer or mobile phone (your “device”) from the website and is stored on your device’s browser or hard drive.

By continuing to browse this website, you are agreeing to our use of cookies.

If you do not want us to use cookies when you use the website, you can set your internet browser not to accept cookies. However, if you block cookies some of the features on the website may not function as a result.

You can find more information about how to manage cookies for all the commonly used internet browsers by visiting www.allaboutcookies.org. This website will also explain how you can delete cookies which are already stored on your device.

We ask for your consent to place cookies on your device, except where these are essential for us to provide you with a service that you have requested.

We currently set the following cookies:

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***Cookies* from third *parties***

We currently use the following third-party cookies:

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Third Party Cookies

Google Analytics 4 Cookies

Purpose: Google Analytics 4 uses first-party cookies to help us understand how visitors interact with our website, including which pages are viewed and how visitors arrived at the site. Google Analytics 4 does not store IP addresses. Visitors are identified by a randomly generated identifier stored in a cookie; we do not provide Google with names, email addresses, or other directly identifying information.

Google Privacy Policy

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Google Tag Manager (No cookies set)

‍Purpose: Google Tag Manager is a tag management service that allows us to deploy and manage tracking scripts on our website. Google Tag Manager itself does not set cookies, but the tags it deploys (such as Google Analytics 4) may set cookies as described in this policy.

Google Privacy Policy

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Website Visitor Analytics

We use Google Analytics 4, Google Tag Manager, and Plausible Analytics on the website. This cookie provides us with a visitor count and an understanding of how visitors move around and use the website. We can then use this information to improve navigability and the website generally. The cookies we use on the website will not collect personally identifiable information about you and, unless otherwise stated, we will not disclose information stored in cookies that we place on your device to third parties.

The website uses Google Analytics 4 ("GA4"), a web analytics service provided by Google LLC ("Google"). GA4 uses first-party cookies to help us understand how users interact with the website. The information generated by these cookies about your use of the website is transmitted to and stored by Google on servers that may be located in the United States. GA4 truncates visitor IP addresses by default before storage. Google will use this information for the purpose of evaluating your use of the website, compiling reports on website activity for website operators, and providing other services relating to website activity and internet usage. Google may also transfer this information to third parties where required to do so by law, or where such third parties process the information on Google's behalf. Google will not associate your IP address with any other data held by Google. You may refuse the use of cookies by selecting the appropriate settings on your browser or by installing the Google Analytics opt-out browser add-on, available at https://tools.google.com/dlpage/gaoptout.

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Plausible Analytics

Plausible Analytics is a privacy-focused, cookieless web analytics service provided by Plausible Insights OÜ. Plausible does not use cookies and does not collect any personal data or personally identifiable information. All data is processed and stored in the European Union.

Plausible Data Policy

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How We Respond to Do Not Track Signals

Most browsers offer a ‘Do Not Track’ setting. Because there is no consistent industry standard for recognizing or honoring DNT signals, our website does not currently respond to them.

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Changes to this Website Privacy Notice

We reserve the right to change this Website Privacy Notice from time to time. Any changes will be posted on this page with an updated revision date.

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Contact Us

If you have any questions about this Website Privacy Notice, your information, how to exercise any of your rights as described in either Northleaf or Invovia’s privacy policies or under data protection laws, you can contact us as follows:

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Northleaf Capital Partners

40 King Street West
Suite 5600
Toronto, ON M5H 3S1
Canada
Attn: Compliance Department

Email: compliance@northleafcapital.com

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Inovia Capital

900 Blvd de Maisonneuve Ouest
Suite 2600
Montreal Quebec H3A 0A8
Canada
Attn: Data Privacy Officer

Email: privacy@inovia.vc

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‍Updated and Effective as of April 27, 2026‍

Disclaimer

Past performance is not a guarantee or indicative of future investment results. There can be no assurance that any of the trends highlighted above will continue in the future.

This includes both unrealized and realized investments. As of September 30, 2025.
As of September 30, 2025.
Carta. Benchmarking against TVPI multiples as published in the Q3 2025 US VC Fund Performance Report. Published as of December 2025. 2024 and 2025 vintages were excluded from the benchmarking analysis, given their limited seasoning. As Carta TVPI benchmarks do not extend to pre-2017 vintages, TVPI above 4.0x for pre-2017 vintages are treated as top-decile, consistent with Cambridge results for funds prior to 2017.
Source: PitchBook. Companies are classified as unicorns (valuation greater than $1B), based on the latest post-money valuation reported by PitchBook. Companies without a post-money valuation in the database are excluded from the analysis. Data exported as of March 2026.