What Weathervane does

Weathervane Investments is a privately held Canadian investment firm headquartered in Vancouver, BC, operating two core business lines: Private Equity and Real Estate. On the private equity side, the firm partners with mid-market enterprises, generally in the EBITDA $5–15M range, offering flexible deal structures (majority or minority, long-term or short-term) and what it characterizes as "more than just capital" — meaning operational and strategic support alongside equity investment. Its PE portfolio as of mid-2025 includes Xpera (risk mitigation and investigation services, acquired 2025-06-06), SMG (B2B manufacturer of engineered components), Saco Foods (US shelf-stable food products, co-invested with Fengate Private Equity), JoieFarm (Okanagan Valley winery), and Big Box Outlet Stores (Western Canadian liquidation retail). The firm operates as an investor/operating partner rather than a passive L.P., with Partners holding seats on portfolio boards (e.g., Matt Wubs on Big Box Outlet Stores and SMG boards; Jason Wubs advising JoieFarm and Big Box Outlet).

On the real estate side, Weathervane acquires, develops, renovates, and manages residential and commercial properties across Western Canada, with the bulk of activity in British Columbia and additional exposure in Alberta and Manitoba. After the 2024 merger with Elevate Development Corp, the real estate portfolio covers roughly 1.2M+ square feet and 615 residential and commercial units, with approximately 10 currently active sites and ~20 individual projects ranging from urban townhome developments (e.g., SOUL White Rock, 53 units; Richmond's 23400 Gates Avenue, 60 units) to commercial offices (TD Tower Victoria, Westland Professional Centre Calgary), retail plazas (Chinook 58 Plaza Calgary, The Shops at Polson Place Vernon, ~119,484 sq ft), and mixed-use complexes. Geographic markets explicitly served include BC, Alberta, Manitoba, and Wisconsin (via Saco Foods US distribution).

The business model combines investment returns (capital appreciation and exits from PE holdings), real estate development and management income (sales of strata units, rental income, and management fees on owned properties), and ancillary revenue from CoWorks, a wholly-owned coworking subsidiary founded in 2018 with two locations. The firm maintains affiliate ties to the Wubs Family Foundation and to Westland Insurance through the Wubs family, which functions as both a relationship network and a referral channel. Revenue is not publicly disclosed; the firm operates with a 1–10 person internal team plus portfolio-company operating teams, relying on the partner group's investment banking, private equity, and operating backgrounds (ex-CPP Investments, Goldman Sachs, Westland Insurance) for sourcing, execution, and portfolio oversight.

Name

Weathervane

Legal name

Weathervane Investments

Website

https://www.weathervaneinvestments.ca

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Weathervane Investments is a Vancouver-based private investment firm operating two divisions: Private Equity, partnering with mid-market enterprises (EBITDA $5–15M) across diversified industries via flexible majority/minority deals, and Real Estate, acquiring, developing, and managing ~1.2M sq ft of residential, commercial, and mixed-use properties across Western Canada.

Ownership category

akta.pro rank

Product category

Private Equity and Real Estate Investment

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Private Equity Buyout Fund-of-Funds (FSANAGAD)

Keywords

• Private equity investment
• Mid-market buyouts
• Real estate development
• Commercial property management
• Growth capital partnerships

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Private Equity Investment Returns: Weathervane generates returns through equity investments in mid-market businesses, partnering with entrepreneurs to identify strategic growth opportunities, nurture talent, and create value for eventual exit.
2. Real Estate Development and Management: Revenue generated through acquisition, development, renovation, and management of residential and commercial real estate properties throughout Western Canada.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Weathervane Investments is a private investment firm that partners with mid-market businesses (EBITDA roughly $5–15M) by providing equity capital and operational/strategic guidance through flexible deal structures (majority or minority, long-term or short-term). The firm also operates a Real Estate division that acquires, develops, renovates, and manages residential and commercial properties throughout Western Canada (primarily British Columbia and Calgary, Alberta), supplemented by a wholly-owned coworking subsidiary (CoWorks) founded in 2018.

Product overview

Weathervane is a private equity and real estate investment firm offering two core service lines: Private Equity Investment Services partnering with mid-market enterprises (EBITDA $5-15M) through flexible capital solutions, and Real Estate Development & Management spanning acquisition, development, and property management across Western Canada. The company also operates CoWorks, a coworking subsidiary. The investment portfolio includes five private equity companies (Xpera, SMG, Saco Foods, JoieFarm, Big Box Outlet Stores) and approximately 20 real estate projects including residential developments (SOUL, Wren + Raven, 224th Street, Gates Avenue, Cardea, Duncan), commercial properties (TD Tower, Westland Professional Centre, Chinook 58 Plaza), mixed-use complexes (Outlook Village, Shaughnessy Square), and retail centers (The Shops at Polson Place, Rainbow Village Whistler).

Differentiator

Problem solved

Functional benefit

Brands

• CoWorks: Coworking space offering private offices, meeting rooms, virtual offices, and coworking space with two locations.

Products and services

• Private Equity Investment Services Equity capital and strategic/operational partnership services for mid-market businesses with EBITDA roughly $5–15M. Includes majority or minority stake options, flexible deal structures, and value-add support for scaling, exit planning, and operational optimization, designed for ambitious entrepreneurs and operators in Western Canada and adjacent markets.
• Real Estate Development & Management End-to-end real estate services covering acquisition, development, renovation, and ongoing management of residential and commercial properties throughout Western Canada, with a focus on British Columbia and Calgary, Alberta. Includes build-to-suit industrial facilities, mixed-use developments, retail centres, and office buildings for tenants and end buyers.
• CoWorks Coworking and Office Space Wholly-owned coworking and flexible-office subsidiary of Weathervane, offering private offices, meeting rooms, virtual offices, and coworking space at two locations. Managed by Jilise Ravensbergen; targets professionals, small teams, and remote workers in Western Canada.
• SOUL — 53 Townhomes + Flats (White Rock, BC) Active for-sale residential development comprising 53 urban townhomes and penthouse flats in the seaside community of White Rock, BC. Direct sales to end buyers through dedicated property website (www.soulwhiterock.ca) and a dedicated phone line (778-668-SOUL).
• 23400 Gates Avenue — 60 Townhomes (Richmond, BC) Pre-construction residential development of 60 townhouse homes in the Hamilton neighbourhood of Richmond, BC; construction slated for 2025.
• 224th Street — 60 Residential Units + Daycare (Maple Ridge, BC) Residential development in Maple Ridge, BC comprising 60 units plus a full-service daycare; currently in design phase.
• Clarence Avenue — Build-to-Suit Facility (Winnipeg, MB) Industrial build-to-suit facility on a 10.5-acre site in Winnipeg, Manitoba, designed for portfolio company SMG (Smartrend Manufacturing Group); completion scheduled for 2026.
• Oak Street & 49th — Mixed-Use Tower (Vancouver, BC) Active mixed-use development at Oak Street and 49th Avenue in Vancouver, BC, comprising a planned 12-storey building with approximately 100,000 sq ft; breaking ground in 2025.
• Duncan Development Site — Mixed-Use (Duncan, BC) Active greenfield development in downtown Duncan, BC, with a planned four-storey mixed-use building featuring 99 residential units and 7,500 sq ft of commercial space.
• Cardea — Mixed-Use (Nanaimo, BC) Completed mixed-use development in Nanaimo, BC, comprising 46 residential units above three commercial units, with ocean and mountain views.
• Outlook Village — Retail & Office (Mission, BC) Completed retail and commercial development in Mission, BC, spanning over 100,000 sq ft of retail space and 28,000 sq ft of office space.
• TD Tower (Victoria, BC) — Managed Office Building Eight-storey office building in Victoria's financial district totalling 56,437 sq ft, currently managed by Weathervane.
• Westland Professional Centre (Calgary, AB) — Managed Commercial Completed three-storey concrete tilt-up office building in Calgary, AB with partial grade-level parkade, tenanted by the Alberta Government under a ten-year lease and Weathervane-affiliated entities; originally sold in 2017.
• Chinook 58 Plaza (Calgary, AB) Modern retail complex in Calgary near Chinook Centre, tenanted by Canadian Western Bank, Red's Diner, and West Wind Dental.
• Shaughnessy Square (Port Coquitlam, BC) Mixed-use commercial and residential complex in Port Coquitlam, BC undergoing renovation with revitalized retail spaces.
• Wren + Raven (Mission, BC) — Completed Residential Completed residential development in Mission, BC offering 1-3 bedroom plus den homes with panoramic Fraser River views.

Quantifiable outcome

• 1.2M+ square feet of land developed, renovated or managed
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Wubs Family FoundationcoreStrategic or Co-development PartnerWeathervane is an affiliate partner to the Wubs Family Foundation, created by the Wubs family (behind Westland Insurance). The foundation is passionate about making a difference in the North American mid-market business ecosystem.
• Westland InsurancecoreStrategic or Co-development PartnerConnected through the Wubs family who co-founded Westland Insurance. Multiple team members serve on boards of Westland-related entities. Jason Wubs serves as Executive Chair at Westland Insurance.
• CoWorksminorStrategic or Co-development PartnerCoWorks is a company founded in 2018 under the Weathervane umbrella, providing private offices, meeting rooms, virtual offices, and coworking space at two locations. Managed by Jilise Ravensbergen.
• Elevate Development CorpcoreStrategic or Co-development PartnerElevate Development Corp merged with Weathervane in 2024, bringing an impressive real estate portfolio and future pipeline projects. Gordon MacPherson and team joined as partners, contributing 20+ years of commercial real estate experience.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Clairvest Group: Toronto-based mid-market PE firm focused on long-term partnership investing with management teams. Comparable in cheque size, sector breadth (consumer, industrial, services), and active ownership approach for Western Canadian/Canadian deals.
• Fengate Private Equity: Canadian mid-market PE firm actively investing across similar sectors; has co-invested with Weathervane in Saco Foods and shares the same Western Canadian institutional ecosystem. Most directly comparable in mandate size and strategy.
• Ironbridge Equity Partners: Canadian mid-market PE firm investing in consumer, industrial, and services businesses with EBITDA in a similar range. Weathervane's VP (Brandon Tracey) was previously at Ironbridge, reflecting direct overlap in mandate and geography.
• Belkorp Industries: BC-based private investment firm with holdings in retail (liquidation/consumer products, similar to Big Box Outlet Stores) and real estate. Operates as a long-horizon family-controlled investor with similar dual operating-business/real-estate mandate.

Broad incumbents

• Northleaf Capital Partners: Toronto-based private equity, private credit, and infrastructure manager with a Canadian mid-market focus. Larger and more diversified than Weathervane but competes for similar mid-market opportunities and LP relationships across Canada.
• Canaccord Genuity (Canadian PE/Advisory): Larger Canadian financial services firm with PE and M&A advisory capabilities. While not a direct competitor as a PE investor, it operates in the same mid-market deal ecosystem in BC and Alberta and is a potential capital partner or acquirer of Weathervane portfolio companies.

Emerging players

• Wren House Capital: Western Canadian private investment firm with a multi-strategy mandate including operating businesses and real estate. Comparable in regional focus and dual PE/real estate structure, though at an earlier stage.

Others

• Triovest Realty Advisors: Canadian real estate investment, management, and development firm active in Western Canada. Comparable in commercial/mixed-use real estate operations and Western Canadian asset base, though as a service provider rather than principal capital deployer.

Regional players

• Anthon Holdings: Western Canadian family-owned investment office with diversified holdings across real estate and operating businesses. Comparable in operating-style investing, family/principal capital base, and Western Canadian footprint.
• Pacific NorthWest Capital Partners: Western Canadian PE firm focused on lower mid-market investments in BC and Alberta. Operates in the same regional deal ecosystem and competes for similar management buyouts and growth equity opportunities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/weathervane-investments

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Weathervane