Kensington Capital Partners Expands Reach with ONE9 Venture Acquisition

Deal News | Apr 02, 2025 | Kensington Capital Partners Lt

Kensington Capital Partners Limited has announced its acquisition of ONE9's venture capital investment business, marking a significant move in expanding its portfolio within the realm of National Security technologies. Under the leadership of Glenn Cowan, ONE9 has driven ventures focusing on cybersecurity, defense technologies, and dual-use systems. This acquisition will consolidate all future investment activities of ONE9 within Kensington, positioning the combined entity as a formidable force in National Security investments. Additionally, Kensington has acquired a minority stake in ONE9 Capability Labs, with a provision to fully own the business after achieving specific milestones. The transaction does not include ONE9’s legacy investment interests, which remain with the vendors. The collaboration between Kensington and ONE9 over the years has yielded mutual successes, exemplified by investments in companies like Tomahawk Robotics and Strider Technologies. Kensington's independent track record in National Security investments will be bolstered by ONE9’s domain expertise, ahead of launching a new investment platform targeting National Security, artificial intelligence, and autonomous technology sectors. The transaction reaffirms Kensington's trajectory of leveraging innovative technologies for heightened market dominance.

Sectors

Venture Capital
Defense and National Security
Technology

Geography

Canada – Both Kensington Capital Partners and ONE9 are Canadian entities, emphasizing the geographical context of the transaction.

Industry

Venture Capital – The article involves the acquisition of a venture capital investment business, highlighting activities related to funding emerging companies and technologies.
Defense and National Security – The acquisition focuses on investments in National Security technologies, including cybersecurity, military, and defense applications.
Technology – The article emphasizes investments in innovative technologies such as artificial intelligence, robotics, and cybersecurity.

Financials

$2.6 billion – The total assets managed by Kensington Capital Partners in private equity, venture capital, and other alternative assets.
$54 billion – Assets under management by AGF Management Limited, the parent company of Kensington Capital Partners.

Participants

Name	Role	Type	Description
Kensington Capital Partners Limited	Bidding Company	Company	A leading Canadian investor in alternative assets, including private equity and venture capital.
ONE9	Target Company	Company	An Ottawa-based venture capital business with a focus on National Security technologies.
Glenn Cowan	Managing Partner at ONE9	Person	Founder and Managing Partner at ONE9, leveraging military experience for venture investments.
Rick Nathan	Senior Managing Director at Kensington	Person	Senior Managing Director at Kensington Capital Partners, involved in the expansion of National Security investments.
AGF Management Limited	Majority Owner of Kensington	Company	A financial services firm with significant assets under management, owning Kensington Capital Partners.