Latest news with #ONE9
Business Wire
09-07-2025
- Business
- Business Wire
Kensington Adds Leading National Security Investor George Hoyem to its ONE9 Investment Committee
TORONTO--(BUSINESS WIRE)-- Kensington Capital Partners Limited today announced the appointment of George Hoyem to the Investment Committee of its ONE9 defence and security venture capital platform. This strategic move further strengthens ONE9's position as the Canadian market leader for investments in national security technologies, including cybersecurity, dual-use technologies and advanced defence innovations. Hoyem will also serve as Special Advisor to Kensington in this sector, assisting with the strategic growth and development of the ONE9 venture capital platform, which Kensington acquired in March 2025. Kensington has appointment George Hoyem to the Investment Committee of its ONE9 defence and security venture capital platform. Hoyem will also serve as Special Advisor to Kensington in this sector. George Hoyem spent the past 15 years at In-Q-Tel (IQT), most recently serving as Executive Vice President, Investments, where he led the IQT investment team for the past several years until his retirement in June 2025. IQT is the U.S. Government agency established with the mission to be the premier government partner trusted to identify, evaluate and leverage emerging commercial technologies for the U.S. National Security community and America's allies. Set up in 1999 by the CIA as an independent strategic investment firm, IQT has spent more than 25 years helping startups adapt their highly innovative products to both maximize mission impact for its government partners while enhancing the companies' commercial success. Today, IQT represents over a dozen different U.S. Government partners, as well as counterparts in the United Kingdom and Australia, to fulfill its mission of 'Global Security Investing'. ONE9 and Kensington have collaborated with IQT on numerous investments for over a decade, developing a strong business and co-investment partnership. This growing relationship will now be significantly enhanced by Hoyem's active role on their investment team, where he will assist the firm with strategic sourcing, evaluation and management of all new investments relating to national security. As the leading Canadian venture firm focused on this sector, ONE9 brings the most innovative emerging security and defence technologies to market, across artificial intelligence, robotics, cybersecurity and space technologies, among other subsectors. 'I look forward to bringing my network and experience to the growing ONE9 investment platform, which is very well positioned to source top-tier investments and generate strong returns for investors,' said Hoyem. 'As I return to the private sector, I am confident that my relationships across Government and industry stakeholders will add value to our portfolio companies.' 'George's experience and credibility is at the very top tier of the national security investment domain,' said ONE9 founder and Managing Director Glenn Cowan. 'His unique experience and insights into U.S. national security, as well as his extensive network, will complement our team's leadership in building a market leading venture capital platform in this sector.' 'George's addition to our team reinforces and strengthens ONE9 as Canada's leading platform for venture capital investment in national security,' said Rick Nathan, Senior Managing Director at Kensington. 'Our growing focus on this sector comes at a time of growing geopolitical stress, leading to significant increased innovation and spending in these key emerging technologies as we bring new opportunities for value creation to our investors.' About Kensington Capital Partners Kensington Capital Partners is a leading independent Canadian investor in private equity and venture capital. Established in 1996, and now with offices in Toronto, Vancouver and Ottawa, the Kensington team currently manages over $2.6 billion in private equity and venture capital assets. Kensington is majority-owned by AGF Capital Partners, a subsidiary of AGF Management Limited (AGF). Founded in 1957, AGF manages over $54 billion in investment assets and serves more than 815,000 investors. For more information, visit
CTV News
13-06-2025
- Business
- CTV News
Defence spending boost can only go so far to lessen U.S. reliance: experts
A variant of the Light Armoured Vehicles, similar to those ordered by the Canadian Armed Forces, sits inside the General Dynamics Land Systems-Canada factory in London, Ont., Friday, Aug. 16, 2019. THE CANADIAN PRESS/Geoff Robins MONTREAL — In early 2002, Glenn Cowan touched down in Kandahar province as part of the first wave of regular Canadian Army troops deployed to Afghanistan, serving in a U.S.-led brigade combat team. After joining Canada's elite special operations unit Joint Task Force 2 in 2003, he spent the next 13 years collaborating with American soldiers on raids, rescues and reconnaissance missions. 'If you're going to get into a fight with someone, you want the Americans on your side,' said Cowan, founder of ONE9. His Ottawa-based venture capital firm focuses on national security investments. The same might be said of the gear Canadian troops use, and the industry behind it. An infusion of fresh defence funding is poised to flood parts of Canada's aerospace, manufacturing and information technology sectors in a bid to reduce reliance on the United States, but experts say this country will remain firmly fastened to its neighbour as a military-industrial partner by necessity. While not a military powerhouse, Canada has expertise in areas ranging from flight simulation and shipbuilding to armoured vehicles and artificial intelligence. The $9.3-billion in additional defence spending announced by Prime Minister Mark Carney on Monday is poised to boost those sectors, with the goal of greater procurement from domestic companies. 'We're too reliant on the United States,' Carney said. 'We will ensure that every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains. We should no longer send three-quarters of our defence capital spending to America.' But a massive cash injection means Canada will have to scale up fast, including via foreign suppliers, said Jim Kilpatrick, in charge of global supply chain and network operations at Deloitte. 'Defence supply chains can often go 10 or 11 tiers deep,' he said, stressing their complex international reach. 'Canada will not be self-sufficient in defence products required by our military.' The country's relatively small production capacity means it will continue to shell out money on American equipment, technology and aircraft, including 88 U.S.-built F-35 fighter jets at a cost of tens of billions of dollars, experts say. However, some of that spending will go to American military giants that have a big presence on Canadian soil, even if the profits end up in pockets south of the border. General Dynamics churns out light armoured vehicles bristelling with turreted mortars and assault guns in London, Ont., as well as tactical communications systems in Ottawa. Lockheed Martin works on 'advanced technology systems' such as naval command software in five provinces. Defence contractor Raytheon counts 8,500 employees and 2,500 suppliers in Canada. 'The wider Canadian economy features a lot of branch plants,' noted David Perry, CEO of the Canadian Global Affairs Institute. While high-tech weapons and machinery come to mind at the mention of defence procurement, much of the extra funding this year may well go to more mundane items. Housing and infrastructure upgrades for Canadian troops make up some of the biggest priorities for Chief of the Defence Staff Gen. Jennie Carignan, she told Quebec radio host Patrick Lagacé on Thursday. Perry also highlighted the ripple effects of that spending for myriad business types beyond the purely military realm. 'Some of it is done through the big stuff — we think about fighter jets. But a lot of it pays for office furniture, software licenses, electricity contracts, snow removal, grass cutting.' Taking a step back, Perry framed defence investment in terms the prime minister, formerly the head of the Bank of Canada and the Bank of England, could appreciate. 'If you think of our defence relationships as an investment portfolio, the PM is saying we're way over-indexed in the Dow Jones and the S&P,' he said. 'Diversify.' This report by The Canadian Press was first published June 13, 2025. Christopher Reynolds, The Canadian Press
Winnipeg Free Press
13-06-2025
- Business
- Winnipeg Free Press
Defence spending boost can only go so far to lessen U.S. reliance: experts
MONTREAL – In early 2002, Glenn Cowan touched down in Kandahar province as part of the first wave of regular Canadian Army troops deployed to Afghanistan, serving in a U.S.-led brigade combat team. After joining Canada's elite special operations unit Joint Task Force 2 in 2003, he spent the next 13 years collaborating with American soldiers on raids, rescues and reconnaissance missions. 'If you're going to get into a fight with someone, you want the Americans on your side,' said Cowan, founder of ONE9. His Ottawa-based venture capital firm focuses on national security investments. The same might be said of the gear Canadian troops use, and the industry behind it. An infusion of fresh defence funding is poised to flood parts of Canada's aerospace, manufacturing and information technology sectors in a bid to reduce reliance on the United States, but experts say this country will remain firmly fastened to its neighbour as a military-industrial partner by necessity. While not a military powerhouse, Canada has expertise in areas ranging from flight simulation and shipbuilding to armoured vehicles and artificial intelligence. The $9.3-billion in additional defence spending announced by Prime Minister Mark Carney on Monday is poised to boost those sectors, with the goal of greater procurement from domestic companies. 'We're too reliant on the United States,' Carney said. 'We will ensure that every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains. We should no longer send three-quarters of our defence capital spending to America.' But a massive cash injection means Canada will have to scale up fast, including via foreign suppliers, said Jim Kilpatrick, in charge of global supply chain and network operations at Deloitte. 'Defence supply chains can often go 10 or 11 tiers deep,' he said, stressing their complex international reach. 'Canada will not be self-sufficient in defence products required by our military.' The country's relatively small production capacity means it will continue to shell out money on American equipment, technology and aircraft, including 88 U.S.-built F-35 fighter jets at a cost of tens of billions of dollars, experts say. However, some of that spending will go to American military giants that have a big presence on Canadian soil, even if the profits end up in pockets south of the border. General Dynamics churns out light armoured vehicles bristelling with turreted mortars and assault guns in London, Ont., as well as tactical communications systems in Ottawa. Lockheed Martin works on 'advanced technology systems' such as naval command software in five provinces. Defence contractor Raytheon counts 8,500 employees and 2,500 suppliers in Canada. 'The wider Canadian economy features a lot of branch plants,' noted David Perry, CEO of the Canadian Global Affairs Institute. While high-tech weapons and machinery come to mind at the mention of defence procurement, much of the extra funding this year may well go to more mundane items. Housing and infrastructure upgrades for Canadian troops make up some of the biggest priorities for Chief of the Defence Staff Gen. Jennie Carignan, she told Quebec radio host Patrick Lagacé on Thursday. Perry also highlighted the ripple effects of that spending for myriad business types beyond the purely military realm. 'Some of it is done through the big stuff — we think about fighter jets. But a lot of it pays for office furniture, software licenses, electricity contracts, snow removal, grass cutting.' Taking a step back, Perry framed defence investment in terms the prime minister, formerly the head of the Bank of Canada and the Bank of England, could appreciate. 'If you think of our defence relationships as an investment portfolio, the PM is saying we're way over-indexed in the Dow Jones and the S&P,' he said. 'Diversify.' This report by The Canadian Press was first published June 13, 2025.
Hamilton Spectator
13-06-2025
- Business
- Hamilton Spectator
Defence spending boost can only go so far to lessen U.S. reliance: experts
MONTREAL - In early 2002, Glenn Cowan touched down in Kandahar province as part of the first wave of regular Canadian Army troops deployed to Afghanistan, serving in a U.S.-led brigade combat team. After joining Canada's elite special operations unit Joint Task Force 2 in 2003, he spent the next 13 years collaborating with American soldiers on raids, rescues and reconnaissance missions. 'If you're going to get into a fight with someone, you want the Americans on your side,' said Cowan, founder of ONE9. His Ottawa-based venture capital firm focuses on national security investments. The same might be said of the gear Canadian troops use, and the industry behind it. An infusion of fresh defence funding is poised to flood parts of Canada's aerospace, manufacturing and information technology sectors in a bid to reduce reliance on the United States, but experts say this country will remain firmly fastened to its neighbour as a military-industrial partner by necessity. While not a military powerhouse, Canada has expertise in areas ranging from flight simulation and shipbuilding to armoured vehicles and artificial intelligence. The $9.3-billion in additional defence spending announced by Prime Minister Mark Carney on Monday is poised to boost those sectors, with the goal of greater procurement from domestic companies. 'We're too reliant on the United States,' Carney said. 'We will ensure that every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains. We should no longer send three-quarters of our defence capital spending to America.' But a massive cash injection means Canada will have to scale up fast, including via foreign suppliers, said Jim Kilpatrick, in charge of global supply chain and network operations at Deloitte. 'Defence supply chains can often go 10 or 11 tiers deep,' he said, stressing their complex international reach. 'Canada will not be self-sufficient in defence products required by our military.' The country's relatively small production capacity means it will continue to shell out money on American equipment, technology and aircraft, including 88 U.S.-built F-35 fighter jets at a cost of tens of billions of dollars, experts say. However, some of that spending will go to American military giants that have a big presence on Canadian soil, even if the profits end up in pockets south of the border. General Dynamics churns out light armoured vehicles bristelling with turreted mortars and assault guns in London, Ont., as well as tactical communications systems in Ottawa. Lockheed Martin works on 'advanced technology systems' such as naval command software in five provinces. Defence contractor Raytheon counts 8,500 employees and 2,500 suppliers in Canada. 'The wider Canadian economy features a lot of branch plants,' noted David Perry, CEO of the Canadian Global Affairs Institute. While high-tech weapons and machinery come to mind at the mention of defence procurement, much of the extra funding this year may well go to more mundane items. Housing and infrastructure upgrades for Canadian troops make up some of the biggest priorities for Chief of the Defence Staff Gen. Jennie Carignan, she told Quebec radio host Patrick Lagacé on Thursday. Perry also highlighted the ripple effects of that spending for myriad business types beyond the purely military realm. 'Some of it is done through the big stuff — we think about fighter jets. But a lot of it pays for office furniture, software licenses, electricity contracts, snow removal, grass cutting.' Taking a step back, Perry framed defence investment in terms the prime minister, formerly the head of the Bank of Canada and the Bank of England, could appreciate. 'If you think of our defence relationships as an investment portfolio, the PM is saying we're way over-indexed in the Dow Jones and the S&P,' he said. 'Diversify.' This report by The Canadian Press was first published June 13, 2025.
Yahoo
13-06-2025
- Business
- Yahoo
Defence spending boost can only go so far to lessen U.S. reliance: experts
MONTREAL — In early 2002, Glenn Cowan touched down in Kandahar province as part of the first wave of regular Canadian Army troops deployed to Afghanistan, serving in a U.S.-led brigade combat team. After joining Canada's elite special operations unit Joint Task Force 2 in 2003, he spent the next 13 years collaborating with American soldiers on raids, rescues and reconnaissance missions. 'If you're going to get into a fight with someone, you want the Americans on your side,' said Cowan, founder of ONE9. His Ottawa-based venture capital firm focuses on national security investments. The same might be said of the gear Canadian troops use, and the industry behind it. An infusion of fresh defence funding is poised to flood parts of Canada's aerospace, manufacturing and information technology sectors in a bid to reduce reliance on the United States, but experts say this country will remain firmly fastened to its neighbour as a military-industrial partner by necessity. While not a military powerhouse, Canada has expertise in areas ranging from flight simulation and shipbuilding to armoured vehicles and artificial intelligence. The $9.3-billion in additional defence spending announced by Prime Minister Mark Carney on Monday is poised to boost those sectors, with the goal of greater procurement from domestic companies. "We're too reliant on the United States,' Carney said. "We will ensure that every dollar is invested wisely, including by prioritizing made-in-Canada manufacturing and supply chains. We should no longer send three-quarters of our defence capital spending to America." But a massive cash injection means Canada will have to scale up fast, including via foreign suppliers, said Jim Kilpatrick, in charge of global supply chain and network operations at Deloitte. 'Defence supply chains can often go 10 or 11 tiers deep,' he said, stressing their complex international reach. 'Canada will not be self-sufficient in defence products required by our military.' The country's relatively small production capacity means it will continue to shell out money on American equipment, technology and aircraft, including 88 U.S.-built F-35 fighter jets at a cost of tens of billions of dollars, experts say. However, some of that spending will go to American military giants that have a big presence on Canadian soil, even if the profits end up in pockets south of the border. General Dynamics churns out light armoured vehicles bristelling with turreted mortars and assault guns in London, Ont., as well as tactical communications systems in Ottawa. Lockheed Martin works on "advanced technology systems" such as naval command software in five provinces. Defence contractor Raytheon counts 8,500 employees and 2,500 suppliers in Canada. 'The wider Canadian economy features a lot of branch plants,' noted David Perry, CEO of the Canadian Global Affairs Institute. While high-tech weapons and machinery come to mind at the mention of defence procurement, much of the extra funding this year may well go to more mundane items. Housing and infrastructure upgrades for Canadian troops make up some of the biggest priorities for Chief of the Defence Staff Gen. Jennie Carignan, she told Quebec radio host Patrick Lagacé on Thursday. Perry also highlighted the ripple effects of that spending for myriad business types beyond the purely military realm. "Some of it is done through the big stuff — we think about fighter jets. But a lot of it pays for office furniture, software licenses, electricity contracts, snow removal, grass cutting." Taking a step back, Perry framed defence investment in terms the prime minister, formerly the head of the Bank of Canada and the Bank of England, could appreciate. "If you think of our defence relationships as an investment portfolio, the PM is saying we're way over-indexed in the Dow Jones and the S&P," he said. "Diversify." This report by The Canadian Press was first published June 13, 2025. Christopher Reynolds, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
