Tourmalet Partners

Tourmalet describes itself in two words that set it apart from a fund: "builder-operators investing in exceptional businesses", looking for "opportunities where we can leverage our experience as entrepreneurs and operators to foster profitable growth as long-term partners". In practice that means majority investments in established, lower mid-market Canadian companies rather than minority venture cheques — the succession end of the market, where a family-owned business needs an owner rather than a round. The firm's own site notes that its principal "founded one of the fastest growing companies in Canada, which was eventually acquired by a public company": Anshul Ruparell co-founded Properly, the Toronto proptech that let homeowners buy their next home before selling the current one, and ran it as chief executive until Compass acquired it in 2023. Before that he was at FJ Labs, where he launched and exited a digital insurance brokerage and a recruiting marketplace for hourly workers. The Ruparell family has run businesses across automotive, hospitality and real estate in Canada since the 1980s. Ruparell also serves as chief financial officer and a board director of the online car retailer Clutch.