On November 20, 2023, Northbase Finance Inc. closed a strategic investment from BlackGold Capital Management LP to accelerate its asset-backed financing operations in the energy, energy transition, power, and commercial/industrial sectors across Canada and the U.S. The investment will bolster Northbase’s growth as a capital partner for critical, long-life, and complex operating assets. Dean Willner, Northbase’s CEO, highlighted the partnership's potential to enhance Northbase’s growth in underserved markets. BlackGold’s Managing Partners, Erik Dybesland and Adam Flikerski, emphasized their long-standing interest in the specialty finance sector, noting Northbase’s strong deal flow and management capabilities as key factors in their decision to invest. Northbase's founding shareholders, Compass Energy Systems Ltd. and Akira Impact Inc., bring significant expertise and origination opportunities, further solidifying Northbase’s position in the market. The transaction value was not disclosed.