Toronto’s Pinnacle venture capital has purchased a 50% interest in talent agency Burman Management Group for an undisclosed amount. The deal, which is reportedly in the mid-six-figure range, will give Pinnacle 50% ownership of the three-month-old management group.

According to Sanjay Burman, the 24-year-old owner of Burman Management, the Pinnacle money will help his company to expand and be more flexible.

‘It allows us to initiate projects. Instead of doing the typically Canadian thing like waiting for a phone call, I make the phone calls now,’ says Burman. ‘It opens up Bay Street for us too, which is where industry starts from when you look at it.’

Burman opened its doors after Sanjay Burman left the Characters Talent Agency. In the three months that followed, Burman brokered a deal between author William Deverell (Street Legal) and l.a.–based Seventh Pictures for a film adaptation of Deverell’s Needles. Needles has been optioned by various studios every year since 1979, and finally is slated for development after a US$600,000 exercise fee.