
Coeuraj Capital was founded by a group of diverse individuals with extensive experience across capital markets, private investing, and management consulting.
From hedge funds to private equity, from venture capital to impact investing, family offices have provided the capital, strategic support and entrepreneurial zeal to catalyze new investing paradigms. Coeuraj Capital believes that applying systems-thinking and sophisticated long-term capital to address complex problems is the next wave of this tradition.
Coeuraj Capital was formed by a diverse group of purpose driven individuals including the Coeuraj founders and backed by a prominent Canadian family with the desire to deploy patient capital with a strategy that provides financial returns and societal impact.
By combining a dedicated investment team with the Coeuraj consulting practice and their extensive experience in assisting organizations with solving complex, global issues; Coeuraj Capital brings a uniquely differentiated strategy to private market investing.
Coeuraj Capital invests in two distinct ways; firstly, we seek to allocate capital on a passive basis to access top talent, forge new relationships and continuously educate ourselves. Secondly, we co-create new investment strategies, vehicles and products in which we can be a strategic partner. We then “commercialize” these new entities in partnership with world class operators.

Bobby Ahluwalia
Co-founder, Managing Partner
Bobby is a seasoned finance executive with diverse experience across international finance, capital markets and private equity investments.
As Managing Partner of Coeuraj Capital, Bobby leads the firm's investment activities focused on combining financial returns and societal impact.
Prior to Coeuraj Capital, Bobby spent close to a decade working for an investment bank in the Capital Markets division located in London, UK and New York. After leaving the Bank in 2014, Bobby founded and led FIFTYFIVE Capital, a mid-market private equity and advisory firm based in Toronto.

Duncan MacRae
Co-founder, General Partner
Mr. MacRae, of Victoria, British Columbia, is co-founder and general partner of Coeuraj Capital, a private equity firm focused on patient investment in resilient, sustainable private companies.
With a penchant for social impact, Duncan has spent the past two decades as a serial founder, executive, and investor, most recently as co-founder and president of Coeuraj.

Tyl van Toorn
Co-founder, General Partner
Mr. van Toorn, of Victoria, British Columbia, is co-founder and general partner of Coeuraj Capital.
Tyl co-founded Coeuraj Capital in 2021 alongside a diverse group of purpose driven individuals, including the Coeuraj founders and a prominent Canadian family office, with a common goal: make patient, regenerative investments in resilient, sustainable private companies that elicit strong financial and societal returns.
With an affinity for solving complex problems, Tyl has spent decades co-founding and operating multiple successful companies, including TNT Productions, transmitNow, Fantan Group, and most recently, Coeuraj, where he serves as Chief Executive Officer.
Tyl resides in Victoria, British Columbia with his wife Sarah, and two children.