3L Capital

3L Capital combines fee-based advisory work with selective principal investing. On the advisory side, it supports companies through M&A, divestitures, fundraising, capital structure design, restructuring, governance, and finance-related operational work. On the merchant banking side, it can deploy its own capital alongside portfolio companies and participate in long-term value creation. The firm also publishes equity research and distributes sector analysis, which can function both as a standalone information product and as a lead generation channel for higher-value advisory mandates.

3L Capital is a Canadian boutique investment banking and merchant banking firm that advises companies on corporate finance transactions and, in some cases, invests its own capital alongside management teams. Its activities span M&A advisory, equity capital markets, capital raising, restructuring, governance support, finance process support, and equity research distribution.

The firm makes money primarily from advisory retainers and transaction-based fees tied to financings, restructurings, and strategic transactions. It may also generate investment returns through merchant banking positions and potentially recurring revenue from research subscriptions. Its customers are mainly public and private companies, founders, management teams, boards, and investors seeking capital markets advice or sector research.