COEURAJ CAPITAL - Key Persons


Bobby Ahluwalia - CEO, Founder

Job Titles:
  • Co - Founder
  • Executive
  • Finance
  • 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 - Founder

Job Titles:
  • 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.

Stephanie Riha

Job Titles:
  • Associate
Stephanie is a passionate finance professional with a background in accounting and private equity investments. As associate at Coeuraj Capital, Stephanie is responsible for evaluating investment opportunities, conducting quantitative and qualitative research on a variety of industries, executing transactions, and supporting the management team. Prior to Coeuraj Capital, Stephanie worked as an analyst at two mid-market private equity firms in Toronto, Ontario where she was responsible for financial analysis and reporting, researching and identify attractive industries, and conducting financial analysis on transactions. During this time, Stephanie supported various transactions ranging from $2-$15M in EBITDA across North America and Europe.

Tyl van Toorn - Founder

Job Titles:
  • 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.