Justus Parmar is a Canadian entrepreneur, businessman, investor, and the current CEO of Fortuna Investments, a Vancouver-based venture capital firm with offices in Los Angeles and Miami. He is also a philanthropist, having established the Justus Parmar Group Scholarship Foundation and supporting various charitable organizations.
Parmar began his career as a teller at CIBC before moving to Global Securities (now Ventum Financial Corp) as an investment advisor. He was one of the youngest advisors at Macquarie Group, quickly rising to become one of the top 10 producers. Later, he served as an investment adviser and vice president at Jordan Capital Markets, an independent boutique investment firm. In 2015, Parmar founded Fortuna Investments, a venture capital firm that has advised on $500 million for 125 early-stage companies and facilitated the IPO of 24 companies. The firm supports companies in various sectors, including blockchain, renewable energy, and lithium exploration, with several portfolio companies reaching market capitalizations of over $1 billion.
Read more about his professional career and investment ventures in Business in Vancouver and the Globe and Mail.
Since 2020, Parmar has focused on emerging industries such as robotics, life sciences, and lithium mining. In 2023, he started investing more heavily in the space industry, with his first space investment being in Starfighters Space, a company operating a fleet of seven F-104 supersonic aircraft. Parmar has demonstrated significant interest and involvement in SpaceX.
He has been featured on major media outlets, including CNBC, where he spoke about the transformative potential of SpaceX. On Morgan L. Brennan’s “Closing Bell Overtime”, Parmar compared SpaceX to world-class generational companies like Amazon and Microsoft, highlighting their increasing value over time. He stated, “These world-class generational companies only increase in value as time goes on, and I would unequivocally put SpaceX in that bucket” (CNBC). Parmar further likened SpaceX to Google and Amazon in the early 2000s, noting its role as a frontrunner in reshaping the industry. He also emphasized the potential impact of Elon Musk’s Starlink on the space industry, suggesting that taking Starlink public could serve as a powerful catalyst for growth and innovation in the sector.
In 2023, Parmar appointed former NFL player Frostee Rucker as Vice President of the West Coast office and a board member of Starfighters. Quoted in Payload Space, Parmar said that he believes Rucker can leverage his 13 years of NFL experience to help with deal origination and investment decisions, in addition to bringing in investors and communities that have historically been underrepresented in the space ecosystem (Payload Space).
Parmar has received several awards, including Business in Vancouver’s 2018 Forty Under 40 Award for his achievements in business, leadership, and community contributions. He has co-founded and invested in companies with a collective market capitalization value of over $2 billion, including Millennial Lithium (TSX-V). In 2023, Parmar spoke at South Florida Space Day at the Alan B. Levan NSU Broward Center of Innovation, Nova Southeastern University in partnership with Amazon, an event to celebrate innovation and collaboration in the space industry.
Read more about his accomplishments and achievements in Venture Cafe.
Parmar founded the Justus Parmar Group Scholarship Foundation, which has awarded $250,000 in scholarships to finance students at the University of British Columbia. He is featured on UBC Sauder’s School of Business website for the mentorship he provides young investors and entrepreneurs through the support of UBC’s Finance Club. Parmar is also an active board member and fundraiser for Face of Today, a charity focused on ending the stigma around mental health issues impacting youth. Additionally, he co-chairs the Fortuna Foundation, which supports communities and young entrepreneurs.
Parmar emphasizes the importance of young talent in organizational growth and believes in empowering his team by delegating responsibilities and trusting them with their tasks. He has advocated for making ideas happen, helping others selflessly, and exceeding expectations in all endeavors.. Parmar’s professional philosophy revolves around investing in people and maintaining a solutions-oriented business culture.
Discover how Parmar works for entrepreneurs who are changing the world by reading more on our homepage and this Globe and Mail article.
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