32 DEGREES CAPITAL ADVISORS, LTD

Thesis

32 Degrees Capital Advisors, Ltd. is a private equity firm founded in 2004 in Calgary, Canada, with a historical focus on the oil and gas sector, including energy services, equipment, and manufacturing. The firm managed two active oil and gas funds totaling $190 million in committed capital and has raised $275 million since inception. Their investment thesis centers on developing crude oil and natural gas reserves and production, targeting early to later-stage Canadian energy technology-related opportunities, specifically in oil and gas services and energy-technology businesses. They invest in "eqnergy," B2B, manufacturing, industrials, and oil & gas sectors within Canada, acting as long-term strategic partners. While historically investing in early-stage oil and gas companies and energy exploration, market conditions have led them to focus on managing their existing portfolio to conclusion rather than raising new funds. Their geographic scope is primarily Canada, with an emphasis on Alberta.