A real asset investment firm with an owner-operator mindset.
We are an operating firm
A Real Asset Investment and Operating Platform
Ascendi Capital is a Canadian real asset investment and operating firm. We acquire, operate, and scale resilient businesses and hard assets, with a focus on sectors that institutional capital has historically overlooked.
What distinguishes our approach is the combination of investment discipline and operational ownership. We don’t buy assets and wait. We build platforms: standardizing operations, improving unit economics, and compounding value over long holding periods.
Our platform is built to compound over decades and across markets. Its first chapter is Western Canada, where population growth, strong vehicle ownership trends, and deeply fragmented owner-operator markets create a sustained pipeline of acquisition opportunities in car wash, multifamily real estate, and other niche real asset verticals.
Built Around Resilience and Compounding
We believe the most durable path to wealth creation is ownership of real, tangible assets that generate recurring cash flow across economic cycles, backed by hard-asset fundamentals that protect capital on the downside.
We apply disciplined underwriting, use leverage prudently, and structure our ownership for the long term, because compounding only works if you stay in the game.
The result is a portfolio built for resilience: assets that work in good markets, and hold their ground in
difficult ones.
Why We Start in Western Canada
Concentration is a strategy, not a constraint. Focusing our first phase of consolidation in one region gives us proprietary deal flow, direct operational oversight, and local market expertise that distant
capital cannot replicate. It is also how enduring platforms are built: dominate a region, prove the playbook, then extend it.
Western Canada earns that focus on fundamentals: steady population growth, high vehicle ownership rates, resource-driven economic activity, and a large base of founder-owned businesses approaching succession without institutional buyers in sight.
Leardership
Adeola (Ade) Oladimeji
Founder & Managing Partner
Ade is the Founder and Managing Partner of Ascendi Capital. He leads the firm’s acquisition strategy, capital formation and operating platform development, with a focus on building a leading Western Canadian car wash business through disciplined acquisitions, operational excellence and long-term ownership.
Ade brings experience across private equity, corporate finance and real assets, having participated in transactions with an aggregate value exceeding $1 billion. His background spans investment evaluation, transaction execution, capital raising and platform development across both private and institutional environments.
Based in Alberta, Ade is committed to building enduring businesses rooted in operational discipline, responsible capital allocation and trusted local relationships.
David Phung
David is an Independent Strategic Advisor to Ascendi Capital, advising on capital structuring, financing strategy, acquisitions and financial governance. He brings extensive experience across private equity, corporate finance and engineering, with a strong track record of financing and scaling asset-backed businesses.
Most recently, David served as Chief Financial Officer of Greenfire Resources, where he led the company’s financial restructuring and transformation, secured more than US$300 million in capital markets financing, and helped position the business for its successful NYSE listing in 2023 at an approximate US$950 million valuation. Earlier in his career, he held senior roles with Credit Suisse, ARC Financial-backed Fractal Energy and Talisman Energy.
At AWG, David provides independent strategic guidance to support disciplined growth, institutional financing and long-term value creation.