Fort Capital

What Fort Capital does

Fort Capital is an independent investment banking advisory firm founded in 2014 and headquartered in Vancouver, with additional offices in Toronto and Calgary. Founded by Dave Bustos and Mike Burtch — both previously senior bankers at major Canadian institutions — the firm has built an alliance of senior advisors and partners serving public and private companies across Canada with selective US cross-border mandates. As of the latest data, the team comprises approximately 60+ named professionals including Partners, Associate Partners, Vice Presidents, Associates, Analysts, Senior Advisors, and dedicated operations and compliance staff.

The firm operates a six-pillar service offering: Mergers & Acquisitions (sell-side and buy-side advisory); SMB Advisory (dedicated to private business sales typically valued $5M-$50M); Financial Services M&A (for Canada's wealth and asset management industry, deal sizes typically above $10M); Capital Formation (equity and debt placements); Valuations and Fairness Opinions (CICBV/CIRO compliant, supporting Boards and Special Committees); and Strategic Financial Advisory (including IPO advisory, credit facility negotiation, and project finance). Its subsidiary, Fort Capital Securities Ltd. (FCSL), operates as a registered Exempt Market Dealer in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec, enabling in-house placement of equity and debt securities to accredited investors. Fort Capital became a certified B Corporation in March 2023 and its Climate Tech team was named to Canada's Clean50 list in 2025.

The firm's reported track record includes 82 completed M&A transactions, $70B in cumulative M&A value, and $5B in capital raised for clients. Representative mandates span mining (Osisko Mining $2.16B sale to Gold Fields; ORLA-Equinox Gold US$18.5B; Royal Gold/Horizon Copper US$410M), consumer (The Keg Royalties C$324M), technology (Safe Software/JMI Equity; Traction on Demand/Salesforce), and industrial (Canadian Industrial Pumps; DROP Sprockets; Purebread). Revenue mechanics are professional services — transaction-based advisory fees, placement agent fees via FCSL, and engagement-based or retainer fees — with no public pricing disclosure. Go-to-market is exclusively relationship-driven, with mandates originated by Partners through personal networks cultivated from their prior bulge-bracket and boutique careers.

Name

Fort Capital

Legal name

Fort Capital Securities Limited

Website

https://fortcapital.ca

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Fort Capital is an independent Canadian investment banking advisory firm founded in 2014, providing M&A, capital raising, fairness opinions, and strategic advisory to private and public companies across mining, technology, financial services, and industrial sectors through offices in Vancouver, Toronto, and Calgary.

Ownership category

akta.pro rank

Product category

Investment Banking Advisory

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industries

Corporate Finance Advisory (Strategic Finance, Capital Structure & Recaps) (FSAEAGAE), Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)

Keywords

• Investment banking advisory
• Mergers and acquisitions
• Capital formation services
• Fairness opinions valuations
• SMB advisory services

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Mergers & Acquisitions Advisory: Fort Capital earns advisory fees for sell-side and buy-side M&A mandates, acting as financial advisor to clients ranging from private SMBs to large public companies. The firm also earns fees for fairness opinions provided to boards and special committees. Fee structures are likely transaction-based or retainers, not publicly disclosed.
2. Capital Formation / Equity Capital Raising: The firm raises equity capital for companies through placements to institutional, family office, and high-net-worth investors. Fort Capital Securities Ltd. (FCSL) is a registered exempt market dealer, enabling placement of equity or debt securities to accredited investors. Revenue is generated through placement agent fees.
3. Credit Advisory: The firm provides credit advisory services, structuring and arranging debt facilities for clients. This includes negotiating credit terms with bank and non-bank lenders, including senior, subordinate, and mezzanine lenders in Canada and the US.
4. SMB Advisory: Dedicated advisory for small to medium-sized business sales, typically valued between $5M and $50M. Fort Capital designs and executes sale processes and identifies engaged buyers.
5. Financial Services M&A Advisory: Dedicated M&A advisory for Canada's wealth and asset management industry, including investment dealers, investment funds, portfolio managers, and family offices. Deal sizes typically exceed $10 million.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Fort Capital is an independent investment banking advisory firm providing sell-side and buy-side mergers and acquisitions advisory, SMB advisory for businesses typically valued $5M–$50M, financial services M&A advisory for wealth and asset management firms, capital formation (equity and debt), valuations and fairness opinions, and strategic financial advisory including IPO advisory. Fort Capital Securities Ltd. (FCSL) acts as a registered Exempt Market Dealer to place equity or debt securities with accredited investors. Engagements are delivered through handpicked senior-led deal teams drawn from the firm's alliance of bankers across offices in Vancouver, Toronto, and Calgary.

Product overview

Fort Capital is an independent investment banking advisory firm offering a unified suite of services: Mergers & Acquisitions (sell-side and buy-side advisory), SMB Advisory (for businesses valued $5M-$50M), Financial Services (wealth/asset management M&A), Capital Formation (equity and debt capital raising), Valuations & Fairness Opinions (CICBV/CIRO compliant), and Strategic Financial Advisory (including IPO advisory and project finance). Fort Capital Securities Ltd. (FCSL) operates as a registered Exempt Market Dealer subsidiary to facilitate security placements. The services are delivered through a partnership model across offices in Vancouver, Toronto, and Calgary.

Differentiator

Problem solved

Functional benefit

Products and services

• Mergers & Acquisitions Advisory Sell-side and buy-side advisory on mergers, acquisitions, and divestitures for private and public companies across industry sectors in Canada and internationally.
• SMB Advisory Advisory services dedicated to private companies on the sale of small to medium-sized businesses typically valued between $5M and $50M, including identification and engagement with strong potential buyers.
• Financial Services M&A Advisory M&A advisory focused on Canada's wealth and asset management industry, including investment dealers, investment funds, portfolio managers, and family offices, with deal sizes typically exceeding $10 million.
• Capital Formation Equity capital raising services including growth, acquisition and bridge financing, recapitalizations and restructurings, and staged liquidity transactions for private and public companies.
• Valuations & Fairness Opinions Detailed, independent valuations and fairness opinions prepared in compliance with CICBV and CIRO standards, supporting boards and Special Committees of public companies.
• Strategic Financial Advisory Actionable financial advice including IPO advisory, shareholder relations, credit facility negotiation, and project finance analysis.
• Fort Capital Securities Ltd. (FCSL) - Exempt Market Dealer Registered Exempt Market Dealer with securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec, facilitating placement of equity or debt securities to accredited investors through registered Dealing Representatives.

Named customers14 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Echelon Wealth Partners: Canadian independent capital markets and advisory firm providing M&A, financing, and institutional brokerage services. Comparable in serving Canadian mid-market clients with a hybrid advisory/capital markets model and Exempt Market Dealer-style services.
• Haywood Securities: Canadian independent full-service investment dealer focused on resource sectors, with M&A advisory, capital raising, and wealth management. Overlapping client base in mining and resources where Fort Capital has significant sector depth.
• Paradigm Capital: Canadian independent investment dealer specializing in small-to-mid-cap corporate finance, advisory, and institutional sales. Direct competitor for Canadian mid-market M&A and equity capital raising mandates.
• Acumen Capital Finance Partners: Canadian independent investment bank focused on Western Canadian mid-market M&A and capital raising. Direct competitor in the same SMB and mid-market advisory space, particularly for resource and industrial sectors.
• PI Financial Corp: Canadian independent full-service investment dealer providing M&A advisory, institutional sales, and trading. Comparable boutique scale and independent structure serving Canadian mid-market and resource sector clients.
• Origin Merchant Partners: Canadian independent investment banking advisory firm focused on mid-market M&A, capital raising, and strategic advisory. Direct peer in the boutique Canadian M&A segment with comparable services, target client size, and senior banker partnership model.

Broad incumbents

• Canaccord Genuity Group: Larger Canadian-headquartered independent investment bank with global reach in M&A and capital markets. Serves many of the same mining, technology, and growth-sector clients that Fort Capital covers, but at a much larger scale with broader product capabilities.
• Stifel GMP (now Stifel Canada): Major North American investment bank with significant Canadian mid-market operations. Competes directly for Canadian M&A and capital raising mandates, especially in mining, technology, and growth sectors.

Emerging players

• INFOR Financial Group: Canadian independent advisory firm focused on mid-market M&A. Competes in similar Canadian mid-market space with comparable boutique positioning, though smaller scale than Fort Capital.
• NewPoint Capital Partners: Emerging Canadian independent advisory firm building mid-market M&A practice. Comparable boutique model serving Canadian mid-market clients, though at earlier stage of build-out than Fort Capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/fort-capital

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fort Capital