Angus Reid, chairman of the Angus Reid Institute and former CEO of Vision Critical, has reportedly sold his entire stake in Vision Critical.
Reid sold 8.5 million preferred shares, cashing out around $44 million, according to The Globe and Mail.
In 2014, the Vancouver resident retired from Vision Critical after 10 years as head of the company to found the Institute, a nonprofit that advances public opinion research in Canada.
Reid’s stake is being sold to New York’s W Capital Partners and Toronto’s Georgian Partners, who are buying $76 million of stock from shareholders, reports The Globe.
Vision Critical was founded in 2000 by Andrew Reid, son of Angus. Andrew last year launched a new startup focused on developing software applications that will “harness and extend the value of insight communities across their organizations.”