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by Stockwatch Business Reporter
The TSX Venture Exchange closed up a fraction to 699.69 Thursday. Manroop Padda has filed a preliminary prospectus to list his first capital pool shell, RiseTech Capital Corp. It plans to sell a $200,000 initial public offering at 10 cents through PI Financial Corp. Mr. Padda, 35, is the founder and managing director of New Avenue Capital, an investment firm in Vancouver. New Avenue's investments include First Cobalt Corp. (FCC: $0.33) and Netcoins, which trades as GAR Ltd. (NETC: $0.115). New Avenue also has a division called PM Search Partners, a recruitment agency for company officers and directors.
From 2007 to 2010, Mr. Padda worked at Korn Ferry, a recruitment firm. Then in 2010, he founded PM Search Partners and New Avenue Capital. He has since founded, advised or invested in a number of tech start-ups, including a mobile app developer called NFC Games. In 2016, NFC sold a fantasy football app for an undisclosed amount to Fantasy 6 Sports Inc., now called Victory Square Technologies Inc. (VST: $0.75).
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