Operators and investors who are devoted to building exceptional businesses.

Hillcrest Merchant Partners was founded as an investment firm focused on a number of high-growth industries including agriculture, cannabis, energy, gaming, mining, real estate and technology.

Today, Hillcrest is more than an investment firm. We are entrepreneurs, investors and advisors building a unique merchant banking investment platform.

Who We Are

  • Entrepreneurs

    We are entrepreneurs, having been a co-founder in multiple successful companies since 2017.

    We are always looking for partners who are willing to work hard and build world-class businesses.

  • Investors

    We are investors, providing capital, connections and experience to visionary founders.

    Hillcrest looks for investments in early-stage companies with a disruptive offering, operating in nascent industries.

  • Advisors

    We are advisors, having provided tailored financial advice to companies of all sizes.

    The Hillcrest team has supported a number of companies through M&A, corporate accounting, strategic finance and go-public advisory mandates.

Areas of Interest

  • We focus on early stage companies with limited operating history and high growth potential.

  • We have a forward-thinking approach to investing, and we look to capitalize on nascent technologies and industries.

  • We like companies that challenge established norms and that offer innovative products or services that fundamentally change the way consumers and businesses operate within an industry.

We are purpose-built with the sole focus of ensuring your success.

Meet the Team

  • Donato Sferra, CFA

    FOUNDER & MANAGING DIRECTOR

    Mr. Sferra serves as Founder and Managing Director of Hillcrest Merchant Partners, and has significant experience in M&A, hostile defense and fairness opinions. Mr. Sferra has an extensive background in the financial services industry spanning approximately 20 years.

    Mr. Sferra began his financial career as an equity research analyst at TD Securities, specializing in auto parts, industrials, solar and automation. He then spent two years as Vice President of Investments at Pinetree Capital Ltd., a small-cap focused firm and an angel investor in the mining, energy and tech investments sectors before moving to Macquarie Group to serve as the firm’s Director of Institutional Sales. Mr. Sferra spent five years at Dundee Capital Markets, first as Director of Institutional Sales, then as Co-Head of Investment Banking, running the cannabis, specialty pharmaceuticals, mining, technology, and gaming practices. Mr. Sferra has extensive merger experience across the above sectors and was intimately involved as an advisor in the merger of the four public companies in what was the restart of Osisko Mining.

  • Geoff St. Clair, CFA

    VICE PRESIDENT

    Geoff is Vice President at Hillcrest Merchant Partners and works with Mr. Sferra on all financing and M&A transactions. He has prior experience in M&A, Corporate Development and RTO/IPOs.

    Mr. St. Clair started his career as an Analyst at Mettrum Health Corp. (acquired by Canopy Growth Corp. for $430M), one of Canada's first cannabis companies. Following Mettrum, Mr. St. Clair spent time in asset management at Jarislowsky Fraser helping manage portfolios for high net worth and institutional clients and at Aurora Cannabis as part of the M&A team working on over $250M of transactions.

We build exceptional businesses in partnership with our clients.

Our Companies

Electryon Power Inc.

Electryon Power is a private Canadian corporation with 565MW of solar projects and 800MW of green hydrogen projects in Colombia.

LibertyHill Realty Partners Inc.

LibertyHill Realty Partners is a Toronto-based management firm that partners with developers and investors to provide equity into real estate projects.

Matador Gold Technologies Inc.

Matador is building a Bitcoin ecosystem vehicle for the public markets, allowing investors to access the most innovative projects and businesses in the Bitcoin ecosystem.

Above Food Corp.

Vertically integrated from seed to fork, Above Food is a first of its kind, ingredient company bringing an innovative supply chain, differentiated ingredients, and consumer products to market.

Our Investments

Hillcrest is a versatile investment firm that does not limit itself to any specific industry. Its investment strategy is agnostic, meaning it is not biased towards any particular sector. While the company makes passive investments, it is also equipped with the necessary skills and experience to become an active investor when required. Hillcrest is willing to work closely with management teams and offer assistance wherever needed. Its ability to be flexible and adaptable to the needs of the businesses it invests in sets it apart from other firms. Hillcrest is committed to providing its portfolio companies with the resources they need to achieve their goals and grow their businesses.

Our Transactions

  • Manitou Gold Announces Friendly Acquisition by Alamos Gold At a 100% Premium to Market

    All stock transaction representing a total transaction value of approximately C$17.2 million (including shares already owned by Alamos).

    Alamos currently owns 65,211,077 Manitou Shares, representing approximately 19% of the issued and outstanding Manitou Shares.

    Expected to increase Alamos’ land package around the Island Gold Deposit to 55,277 ha, a 267% increase.

  • The Green Organic Dutchman Enters Into a Definitive Agreement To Grow Through A Strategic Acquisition

    All stock deal with $21MM upfront and $15MM on earnout.

    Acquisition expands and diversifies TGOD’s product portfolio across edibles, vapes, pre-rolls and solventless products.

    Strengthens TGOD’s executive capabilities with the addition of industry veterans.

  • The Valens Company to Acquire Leading, Premium Craft Licensed Producer, Citizen Stash Cannabis Corp.

    Acquisition expands Valens’ product offering into premium flower and pre-rolls.

    Adds over 40 provincial listings to Valens’ 180 provincial listings.

    Transaction expected to be accretive to Valens in 2021 and 2022, before synergies.

  • Choom Announces Recapitalization Transactions

    Recapitalization transaction significantly reduces debt obligations and allows the company to focus on growth.

    Subsequent equity capital raise for up to $5MM for growth initiatives.

  • Heritage Cannabis to Acquire Premium 5 Ltd.

    All stock deal with $21MM upfront and $20MM on earnout.

    Bolsters Heritage’s product portfolio with a wide range of high-quality concentrate products across premium, core and value priced brands.

    Gives Heritage coast to coast distribution and a strong development pipeline.

  • Aurora to Acquire Whistler

    All stock transaction valued at up to approximately $175MM, including certain milestone payments.

    The Transaction is expected to provide Aurora with a premium and differentiated organic certified product suite, expanding both its medical and adult-use offerings, and reinforcing Aurora's presence in the well-established west coast cannabis market.

    *Hillcrest Partners and employees, while at another investment bank, have been involved in seminal transactions for multiple companies.

  • Canopy Growth to acquire rival pot producer Mettrum for $430M in stock

    With its agreement to acquire Mettrum, Canopy Growth will add two national brands to its portfolio, increase its production platform and create room for further expansion.

    All stock deal for $430MM with existing Canopy Growth and Mettrum shareholders expected to own approximately 77.7% and 22.3%, respectively, of the pro forma company.

    *Hillcrest Partners and employees, while at another investment bank, have been involved in seminal transactions for multiple companies.

  • Tweed Marijuana Inc. Completes Acquisition of bedrocan Cannabis Corp.

    Transaction solidifies Tweed as the leading cannabis player in the industry.

    Combined entity will have a strong portfolio of brands, expanded clinical research capabilities, and new products and services.

    Transaction solidifies Tweed as the leading cannabis player in the industry.

    *Hillcrest Partners and employees, while at another investment bank, have been involved in seminal transactions for multiple companies.

  • Western Lithium and Lithium Americas Announce Merger, Consolidating Strategic Lithium Deposits in North and South America

    All stock transaction that values Lithium Americas at approximately $80MM.

    The merged entity will establish market leadership and develop future lithium supply requirements in a disciplined manner to reshape the current fragmented lithium development sector.

    *Hillcrest Partners and employees, while at another investment bank, have been involved in seminal transactions for multiple companies.

  • Oban Mining Corporation enters into Arrangement Agreements in respect of its proposed acquisition of Eagle Hill Exploration Corporation, Ryan Gold Corp., Corona Gold Corporation and Temex Resources Corp., followed by merger with NioGold Mining

    On June 9, 2015, Oban announced the acquisition of Eagle Hill Exploration Corp., Temex Resources Corp., Ryan Gold Corp. and Corona Gold Corp., offering share consideration to each target.

    On January 11, 2016, Oban announced the acquisition of NioGold Mining Corporation for $0.50 per share in stock, a 51.5% to NioGold’s closing price.

    *Hillcrest Partners and employees, while at another investment bank, have been involved in seminal transactions for multiple companies.

Press Releases

  • Matador Gold Technologies Inc. and Scaling Capital 1 Corp. Announce Proposed Qualifying Transaction

    Scaling 1 Capital Corp. has entered into a non-binding letter of intent to complete a qualifying transaction with Matador Gold Technologies Inc., involving a share consolidation and the issuance of approximately 70.15 million new shares, forming a new entity with a focus on digitizing the gold buying experience.

    Before finalizing the transaction, both companies plan to raise a minimum of CAD$3.5 million through private placements, with funds converting into new shares upon the transaction's completion.

    The transaction is subject to board approvals, due diligence, and a formal agreement, with trading in Scaling's shares remaining halted until the transaction is completed or the necessary documentation is provided to resume trading.

  • Above Food Announces Strategic Acquisition of The Redwood Group, LLC’s Specialty Crop Food Ingredients Division, Representing Significant U.S. Expansion

    Above Food has acquired the Specialty Crop Food Ingredient Division of The Redwood Group for $34 million, expanding its physical footprint into the U.S. and strengthening its vertically integrated "Seed-to-Fork" supply chain.

    The acquired assets generated $164 million in unaudited revenue in FY 2023, with a significant portion from the high-growth pet food market, positioning Above Food to capitalize on the $202 billion human and $26 billion pet food markets.

    The acquisition adds owned and third-party facilities with an asset-light model, enhancing Above Food's processing capacity, margin optimization, and risk mitigation across its North American and European markets.

  • Above Food and Bite Acquisition Corp. Announce Completion of Business Combination

    Above Food's common shares and warrants will start trading on Nasdaq under the symbols “ABVE” and “ABVE.W” on July 1, 2024, following the completion of its business combination with Bite Acquisition Corp.

    Above Food operates a vertically integrated "Seed-to-Fork" platform, delivering specialized ingredients and consumer products to over 260 customers globally and 35,000 retail locations, with a focus on regenerative agriculture and supply chain traceability.

    The company is positioned to capitalize on a $200+ billion market opportunity, with existing assets capable of generating over $650 million in revenue, supported by favorable trends in plant-based foods and sustainable practices.

  • Matador Partners and UTXO Management Team Up To Launch $3M Bitcoin-Focused Investment Fund

    Matador Gold Technologies and UTXO Management have formed a strategic partnership to accelerate innovation within the bitcoin ecosystem, with UTXO investing $3 million in bitcoin and crypto-related assets in Matador.

    The partnership includes the creation of a co-managed bitcoin-focused investment fund aimed at driving innovation in areas such as bitcoin tokenization, decentralized finance, and scalability solutions.

    Matador will launch an internal product launchpad, beginning with Matador Gold, to bring new features and projects to the bitcoin ecosystem, further solidifying its role as an innovator in the industry.

Driving growth in Canada, and globally across a diverse set of industries.

Our Services

  • Merchant Banking

    Hillcrest plays an active role in helping businesses progress and develop. Our merchant banking platform not only invests its own capital, but also brings operational experience and strategic relationships to help entrepreneurs execute business plans, raise capital and build world-class businesses.

  • M&A Advisory

    We carefully choose which engagements to pursue and concentrate our efforts on providing customized solutions with exceptional execution of transactions, ultimately helping our clients achieve their strategic objectives and obtain the complete value they deserve.

  • Go-Public Advisory

    We have extensive experience in executing numerous "go-public" transactions, serving as advisors as well as entrepreneurs or owners of our own businesses. We aim to combine our diverse knowledge to offer our clients valuable expertise and insight into a typically intricate and ambiguous process that involves various complex "street" dynamics.

  • Corporate Development

    Drawing on our expertise in corporate development, we can help companies evaluate, formulate, and implement a well-defined corporate development program, as well as effectively convey targeted messages to both retail and institutional audiences in the capital markets.

  • Financial Advisory

    Our corporate finance solutions are tailored to each client's unique circumstances and designed to help them optimize their finances, minimize risks, and maximize returns. Our goal is to provide exceptional financial advisory services that enable our clients to make informed financial decisions and achieve greater financial success.

Get In Touch

We are always looking for new partners! Please fill out our contact form if you are a business or professional with an interesting opportunity to share.