Walk-on ferry service reportedly a done deal

A long-anticipated walk-on ferry service between Nanaimo and Vancouver appears to be a done deal.

The Port Authority and Snuneymuxw announced the deal with Conqora Capital Partners for a long-term lease providing access to Nanaimo Assembly Wharf for ferry berths, a terminal and parking.

Conqora CEO Rupesh Amin said his firm is excited about the potential of its partnership with the port authority and the First Nation and said a high-speed passenger ferry service linking Nanaimo and Vancouver will be meaningful for the future of the province.

Port Authority chair Donna Hais said a foot ferry is a vital service and said the lease announcement is being made with great pleasure … after many years of talking about a fast passenger service coming to Nanaimo.

Snuneymuxw Chief Mike Wyse said the Snuneymuxw’s working relationship with Conqora and the Port of Nanaimo is made on the basis of respect and recognition for the greater good.

No timelines for the startup were revealed, adding more details will be provided in the near future.

Conqora is built on a solid investment foundation

Rupesh Amin

Who is Conqora, the company that is investing in a Nanaimo-Vancouver passenger-only ferry?

The company’s website says it is a Canadian private equity firm, headquartered in Toronto, that specializes in creating, developing, and partnering with strong management teams in order to bring strategic real-asset backed investments to life. 

“Once we have fully underwritten a transaction and committed our capital, we allow our Limited Partners the ability to selectively invest in these diligenced and scalable opportunities that have proven and secured valuations once in steady state operations.

“Our corporate compass is guided by four critical points that intersect in each of the investments selected to be underwritten. We believe in the inherent stability of underlying real assets, creating value-differentiation through technology, innovating using entrepreneurial mindfulness, and committing to making investments that positively affect the communities in which we invest.

“Our investment thesis is based on a partnership model and a programmatic-based approach. We seek to invest development capital in strategic partners who have the expertise, leadership, and experience to build out a platform in sectors based on real assets with compelling market forces.

“Conqora utilizes its own at-risk development capital to originate opportunities and brings to market only those deals vetted through its rigorous due diligence process, which means investment partners see underwritten opportunities that are ready to execute on tight and efficient timelines.

“We take the lead role to fully underwrite direct investment opportunities, that are vetted by top tier advisors, prior to syndicating the investment to a select group of Family Offices, Asset Managers, Institutional Funds and High Net Worth Individuals.”