TORONTO--(BUSINESS WIRE)--Wellington Financial LP, a privately-held specialty finance firm, announced today that its charitable foundation and the Rotman School of Management have established the Wellington Financial LP Award in Technology Evaluation & Analysis in honour of Joseph L. Rotman, O.C..
The University of Toronto was named Canada’s most innovative university and among the top 50 innovative universities in the world, according to a 2015 Reuters report. Founded in 2000, Wellington Financial seeks opportunities to make a positive impact on local and national communities. As leading specialists in growth finance in Canada, Wellington is proud to support the education of students at the University of Toronto.
“Given our deep connection to the Canadian innovation economy, we endowed this scholarship to encourage students to gain a better understanding about how to analyze innovation companies. The better young Canadians are at evaluating firms in the innovation economy, the more inclined they may be to join the venture space,” said Mark McQueen, President and CEO, Wellington Financial. “With more young talent joining our industry, it should make for a better fundraising climate down the road for Canadian entrepreneurs. Joe Rotman was instrumental in the establishment of our firm in 2000, and Clairvest Group Inc., the merchant bank he founded and led for many years, has been our partner ever since.”
The first scholarship will be awarded this December to an MBA or engineering student who has demonstrated a passion for technology or has experience in the venture space, and who has been recognized for their strong leadership skills. Via this scholarship, Wellington Financial will continue to support the University of Toronto’s students in these two faculties, as well as Canada’s venture sector, in perpetuity.
“Scholarships are invaluable both to attract top talent to the Rotman School and to enable students to take full advantage of extra-curricular learning and development opportunities. It’s wonderful to see how the generosity of Joe Rotman is inspiring others to support the University.” Tiff Macklem, Dean, Rotman School of Management.
As Chairman of Roy-L Capital Corporation, a private family investment company, Mr. Rotman invested in a number of private and public companies active in oil, merchant banking, real estate and venture capital. In 1997, the University of Toronto's School of Management was re-named in Joseph Rotman's honor. Mr. Rotman passed away in January of 2015, and in 2016, the Rotman family made a transformational gift to the Rotman School of Management, which helped establish the Rotman Catalyst Fund. Today, the fund is used to finance innovative initiatives that transform management education.
In 2015, Wellington Financial endowed a similar scholarship at Western University. The inaugural recipient of that scholarship was Laura Perry, an undergraduate Engineering student.
About Wellington Financial LP
Founded in 2000, Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.