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Draft:Justus Parmar


Justus Parmar

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Justus Parmar is a Canadian entrepreneur, businessman, investor and the current managing director of Fortuna Investments, a Vancouver-based venture capital firm, with offices in Los Angeles and Miami.[1][2]

Born in Duncan, British Columbia, Parmar earned a Bachelor of Commerce from the University of Victoria and completed advanced studies at Harvard University​.[3] He began his career at CIBC, then held significant roles at Global Securities and Macquarie Group before founding Fortuna Investments in 2015.[3] Under his leadership, the firm has raised or advised $500 million for early-stage companies and facilitated 24 IPOs.[4][5]

Parmar is also a philanthropist, establishing the Justus Parmar Group Scholarship Foundation and supporting various charitable organizations.[5]

Early life and education

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Justus Parmar was born in Duncan, British Columbia, a town on Vancouver Island​.[6] He currently resides in Vancouver and Los Angeles​​.[6][7] Parmar pursued his higher education at the University of Victoria, where he earned a Bachelor of Commerce​.[3][6] Furthering his education, he completed executive education in finance at Harvard Business School and private equity and venture capital studies at Harvard University​​.[3]

Personal life

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Parmar was born on October 24th, 1982 to Indian parents who immigrated to Canada and worked hard to establish themselves.[6] Parmar's mother was a nurse, and his father ran a small import-export business after working in the lumber industry​.[6] Parmar’s father passed away when Parmar was 13, significantly impacting his sense of responsibility towards his family.[6]

Parmar married Elisia Parmar August 29, 2020, who co-chairs the Fortuna Foundation​.[8] She holds a Bachelor of Science in Psychology from Wilfrid Laurier University and completed her Master's Degree in Counseling Psychology in 2023.[8][9] Elisia Parmar is now a practicing Registered psychotherapist with the College of Psychotherapists of Ontario.[9]

Justus and Elisia have been together since 2015 and he proposed to Elisia on top of the London Eye.[10] In his spare time, Parmar enjoys reading about creators and founder success stories.[3]

Professional career

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Parmar began his career in a junior position at CIBC before moving to Global Securities (now Ventum Financial Corp) as an investment advisor​.[6] He became the youngest advisor at Macquarie Group, quickly rising to one of the top 10 producers​.[3] Later, he served as an investment adviser and vice president at Jordan Capital Markets, an independent boutique investment firm​​.[6]

In 2015, Parmar founded Fortuna Investments, a venture capital firm that has advised on $500 million for 125 early-stage companies and facilitated the IPO of 24 companies​.[3][4][5] The firm supports companies in various sectors, including blockchain, renewable energy, and lithium exploration, with several portfolio companies reaching market capitalizations of over $1 billion​.[3][7]

Space investment

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Since 2020, Parmar began focusing on emerging industries such as robotics, life sciences and lithium mining.[2] In 2023, he started investing more heavily in the space industry, with his first space investment being in Starfighters Space, a company operating a fleet of seven F-104 supersonic aircraft.

Parmar compares SpaceX to Amazon, Microsoft and other world-class generational companies in Morgan L. Brennan’s Closing Bell Overtime. Brennan quotes Parmar telling her “These world class generational companies only increase in value as time goes on, and I would unequivocally put SpaceX in that bucket.”[11]

Achievements and recognition

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Parmar has received several awards, including Business in Vancouver’s 2018 Forty Under 40 Award for his achievements in business, leadership, and community contributions​.[3][12] He has co-founded and invested in companies with a collective market capitalization value of over $2 billion, including Millennial Lithium (TSX-V)​.[3]

Philanthropy

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Parmar founded the Justus Parmar Group Scholarship Foundation, which has awarded $250,000 in scholarships to finance students at the University of British Columbia​.[13][3][12] He mentors young investors and entrepreneurs through the support of UBC’s Finance Club​.[3] Parmar is also an active board member and fundraiser for Face of Today, a charity focused on ending the stigma around mental health issues impacting youth​.[5][12] Additionally, he co-chairs the Fortuna Foundation, which supports communities and young entrepreneurs​.[7][8]

Professional philosophy and advice

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Parmar emphasizes the importance of young talent in organizational growth and believes in empowering his team by delegating responsibilities and trusting them with their tasks​.[6] He has advocated for making ideas happen, helping others selflessly, and exceeding expectations in all endeavors​​.[3][7] Parmar’s professional philosophy revolves around investing in people and maintaining a solutions-oriented business culture​​.[7]

References

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  1. ^ "Technology & Innovation Roundup: Fortuna Investments expands to Miami Beach; JPMorgan makes $2 million donation to boost tech equity". www.bizjournals.com. Retrieved 2024-08-09.
  2. ^ a b Kuhr, Jack (2023-05-24). "VC Firm Fortuna Expands into Space Investing". Payload. Retrieved 2024-08-09.
  3. ^ a b c d e f g h i j k l m "Justus Parmar". Business in Vancouver. 2018-12-04. Retrieved 2024-07-12.
  4. ^ a b "Justus Parmar Email & Phone Number Contact Info - Founder and CEO - Fortuna Investments". Apollo.io. Retrieved 2024-07-12.
  5. ^ a b c d Champion, Curtis (2019-04-15). "Justus Parmar". Canada's Podcast. Retrieved 2024-07-12.
  6. ^ a b c d e f g h i "Justus Parmar on starting something from scratch and watching it grow". The Globe and Mail. 2018-12-16. Retrieved 2024-07-12.
  7. ^ a b c d e "Fortuna Investments – Investment | Venture Capital | Advisory". Retrieved 2024-07-12.
  8. ^ a b c "Who We Are – Fortuna Foundation". Retrieved 2024-07-12.
  9. ^ a b "Elisia Parmar". www.psychologytoday.com. Retrieved 2024-08-09.
  10. ^ "Match: Most proposals involve a ring. This one features an iconic landmark, a Love Actually tribute and an event planner". The Globe and Mail. 2019-09-04. Retrieved 2024-07-12.
  11. ^ "Closing Bell Podcast". CNBC. 2022-03-10. Retrieved 2024-08-09.
  12. ^ a b c "Justus Parmar". Venture Café Miami. Retrieved 2024-07-12.
  13. ^ "Fortuna Foundation Award in Finance (#1061)". myBCom | Sauder School of Business at UBC, Vancouver, Canada. 2022-02-11. Retrieved 2024-08-09.
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