File photo of entrepreneur Kevin O'Leary.Della Rollins/The Globe and Mail
Celebrity businessman Kevin O'Leary and another former Dragons' Den star are merging their two fund companies, which will manage nearly $4-billion once the deal is done.
W. Brett Wilson, who is chairman of Canoe Financial, says the two men got to know each other while at Dragons' Den – a TV program in which entrepreneurs seek money and advice from the so-called dragons.
O'Leary – one of the original stars of the CBC reality TV show, on ABC's version Shark Tank, and a commentator on other business programs – will become vice-chairman of Canoe Financial under the agreement.
Although O'Leary is the more prominent of the two businessmen because of his numerous TV appearances, his company manages a smaller base of assets and will bring Canoe Financial contracts representing $800-million in investment assets.