Founded in 2006, Annapolis Capital is a creative, value adding, and long term investor of growth capital in the Canadian energy sector. From its head office in Calgary, the Annapolis team uses its deep interdisciplinary expertise, extensive Canadian network of relationships, and track record of value creation to help its investors and portfolio company management teams profit from exceptional growth. The team's 65 combined years of hands on operational, technical, financial and leadership experience in operating oil & gas companies distinguishes Annapolis among its peers and is the backbone behind its competitive advantage and strong returns. To date, Annapolis has raised $300 million of capital from a supportive institutional and high net worth individual investor base, with over $20 million of that capital invested by Annapolis' principals and their families. Annapolis is actively seeking to make portfolio investments in Fund VI, with $150 million in capital available for investment.
Annapolis targets start-up and early stage exploration and production companies, mainly in the private domain. Annapolis is focused on multiple of return and considers only investments with visibility to a 2.5X – 3.0X multiple in a three to five year time horizon. Annapolis commits to larger investments in a limited number of companies and pursues board seats and positions of influence in order to manage risk, which is core to its relatively conservative strategy.
To date, Annapolis has launched six and currently manages five private equity funds.
| Fund |
Inception
Date |
Committed
Capital |
Stage |
Annapolis Energy
Fund II & III1 |
Feb 2006 |
$46.9 million |
Fully invested |
| Annapolis Energy Fund IV |
Feb 2007 |
$20.9 million |
Fully invested |
| Annapolis Energy Fund V |
July 2008 |
$78.6 million |
Actively investing |
| Annapolis Energy Fund VI |
August 2011 |
$150.0 million |
Actively investing |
Note:
1. Both Annapolis Energy Fund I and Annapolis Energy Fund III were single company private equity funds. Annapolis Energy Fund I was formed before the formal launch of Annapolis for the purpose of making a single company investment. Annapolis Energy Fund III was formed for the purpose of topping-up the final investment made by Annapolis Energy Fund II. Therefore, only Annapolis Energy Fund II, Annapolis Energy Fund IV, Annapolis Energy Fund V, and Annapolis Energy Fund VI are true omnibus private equity funds.