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Or sign-in if you have an account.Ryan Beedie and Vistara founder Randy Garg met while pursuing MBAs at the University of British Columbia, from which they both graduated in 1993. Photo by Postmedia filesA Canadian real estate billionaire acquired half of tech investment firm Vistara Growth, committing as much as US$125 million to a new fund in a deal with roots in a business school friendship formed three decades ago.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorRyan Beedie, president of the namesake property developer founded by his father in 1954, announced the Vistara transaction on Wednesday with his firm’s alternative investments arm, Beedie Capital. Developer Beedie and Vistara are both based in Vancouver.Beedie Capital has acquired 50 per cent of Vistara and is committing money to a new fund that aims to launch in the coming months and raise US$500 million.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againRyan Beedie and Vistara founder Randy Garg met while pursuing MBAs at the University of British Columbia, from which they both graduated in 1993.They launched Beedie Capital together in 2010. Vistara was spun out as a separate entity in 2015, but Beedie Capital has been a “key anchor LP” in Vistara’s five funds since, which have raised more than US$700 million, the companies said. They will remain distinct companies, the statement added.Vistara, the Sanskrit word for “expansion,” provides growth funding to technology companies. Its investments “almost all start as debt,” but over the life of a fund, roughly 25 per cent or so end up converting to equity, Garg said in a phone interview. He said his fund typically writes “US$20 million to US$30 million checks.”Using convertible debt and warrants means founders can limit dilution when raising money, and solid companies can still access funding when they “can’t get the terms that they want” from equity-only investors, “or the growth rates have maybe slowed a little bit,” Garg said. He declined to say how much the transaction for 50 per cent of his firm was worth.Several of the exited investments on Vistara’s website are enterprise software companies. Beedie Capital has some investments in common with Vistara on its portfolio page.Ryan Beedie is also a mining investor. He owns the largest stake of Artemis Gold Inc. at 29 per cent, which is worth roughly $2.5 billion (US$1.8 billion), according to data compiled by Bloomberg. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.