Snapshot of a VC Deal: Luxury Retreats

luxury retreatsWho: Montreal-based Luxury Retreats, which creates personalized villa vacations, offering more than 2,000 villas in over 50 destinations. As a full service villa rental company, Luxury Retreats offers guests complimentary concierge services, worldwide guest support, as well as villa specialists who help travelers find their perfect villa.

How much: $5-million in a financing led by iNovia Capital. As part of the deal, iNovia’s Chris Arsenault will join the board, along with Bertrand Cesvet, founding partner of Cirque du Soleil Lifestyle Group and chairman of global agency Sid Lee; and Hugh Crean, entrepreneur in residence at General Catalyst Partners.

The Quote: “We are excited to announce this funding.  Up to this point, we have been very successful in servicing our rapid internal growth by redeploying profits internally, enabling us to maintain our position as the largest luxury villa rental company in the world. This capital provides us the additional financial flexibility to pursue opportunistic investments to enhance our long-term growth plans, with our ultimate goal to remain the leading player in the global luxury rental market.” - Joe Poulin, Luxury Retreats’ founder and chief executive officer

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  • Davender Gupta

    Mark – Maybe I’m really off-base here, but news like this gets my blood boiling. On one hand we urge entrepreneurs to “do stuff to change the world”, meanwhile the gatekeepers who control *other people’s money* invest in sh- silly stuff like this, rich people’s playthings. Meanwhile awesomely good projects here in Québec (and elsewhere) that REALLY CAN CHANGE THE WORLD with REAL INNOVATIVE TECH (not another friggin’ website or mobile app) are made to jump through hoops and beg for scraps and eventually turned away. Not cool.
    And then VC’s wonder why startup entrepreneurs accuse them of being arrogant.
    Sorry for the rant. Then again, I’m not sorry for the rant.

    Davender Gupta
    Venture Catalyst