Private Equity
Smart grid communications provider Tantalus Systems Corp has named Peter Londa as president and CEO. The pick followed a search process led by John McEwen, the chairman of the Tantalus board of directors and co-CEO of Canadian venture capital firm Discovery Capital Corp, an investor in Tantalus. Londa previously served as the CEO of smart grid company BPL Global. Based in Burnaby, British Columbia, and Raleigh, North Carolina, Tantalus provides communications networks to monitor and control electric, gas and water utilities. Its other investors include U.S. venture capital firm Redpoint Ventures.
3 min read · 24 April 2014
Recon Instruments Inc said Wednesday that it has received financing from Motorola Solutions Venture Capital, the investment arm of Motorola Solutions Inc. No financial terms were disclosed. Headquartered in Vancouver, British Columbia, Recon is a developer of head’s-up display technology for sports and activity-specific environments. Update: The new funds will be used to accelerate the company's product development and ramp up global marketing and distribution. Founded in 2006, Recon is also backed by Canadian venture capital firm Vanedge Capital, U.S.-based Intel Capital, and other investors.
3 min read · 23 April 2014
Public and private information and communications technology (ICT) companies in Canada showed momentum in 2013, setting new revenue records despite declines experienced by Blackberry, reports Branham Group Inc. According to the 2014 edition of the Branham300, the top 250 ICT companies last year increased their revenues by 2.4% to $85 billion. Blackberry nonetheless continued to rank No. 1 on the Branham list, followed by Montréal-based CGI Group Inc, which in 2012 received a significant private equity investment from the Caisse de dépôt et placement du Québec. CGI showed 111% revenue growth in 2013.
4 min read · 23 April 2014
Physicians' network The Rounds has secured $1 million in seed-stage financing. Canadian venture capital firm Innovacorp was among the investors in the round, contributing $250,000. The other investors were not disclosed. Based in Halifax, Nova Scotia, The Rounds has developed a network platform that allows physicians of all types to interact and collaborate. To date, nearly 1,500 medical practitioners are participating in the platform, communicating more than 20,000 times each month, the company said. The Rounds plans to use investment proceeds to accelerate growth across Canada and drive product development.
2 min read · 22 April 2014
Members of Anges Québec and Anges Québec Capital Fund recently invested a combined $1.25 million in GameBrotherZ, a Montréal-based creator, publisher and distributor of recreational and educational board games. Led by Maxime Detraux, 13 members of Anges Québec invested $750,000 in the company, while the fund accounted for $500,000. GameBrotherZ was founded in 2008 by CEO Luc St-Pierre. Anges Québec manages a network of 130 investors that has to date backed 37 early-stage companies.
3 min read · 22 April 2014
Slyce has entered into an agreement with Oculus Ventures Corp (TSX-V: OVX) that will allow Slyce to be listed on TSX Venture Exchange. Slyce, which last month raised close to $10.8 million in a Series A financing round, will obtain the listing by purchasing all of the issued and outstanding shares of Oculus, and renaming it. The undisclosed transaction remains subject to regulatory and shareholder approvals. Founded in 2012, Sylce is a visual product search platform targeting the retail sector. The company has its primary offices in Calgary and Toronto.
3 min read · 22 April 2014
2nd Act Innovations Inc, which operates under the name of its technology platform Oris4, has secured $1 million in funding from NSBI Venture Capital, the investment arm of Nova Scotia Business Inc. According to a report by Entrevestor, GrowthWorks Atlantic Venture Fund also participated in the deal, bringing this latest round to $1.3 million in total. Proceeds will be used to help fill sales orders and execute on the company's marketing strategy. Venture-backed since 2012, the Halifax, Nova Scotia-based Oris4 is a cloud-based provider of enterprise content management technology. The startup also has a office in Palo Alto, California, and recently opened a third office in New York.
2 min read · 22 April 2014
Venture capitalists in the United States put more money to work in the first quarter with a boost in expansion-stage and mega-scale transactions leading to a substantial lift in average deal size. Quarterly funding of US$9.5 billion rose 12 percent from the fourth quarter and a hearty 57 percent from the first quarter a year ago, according to a report from PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters. It was the largest quarterly total since the second quarter of 2001.
2 min read · 22 April 2014
Playnomics Inc, a San Francisco-based provider of predictive analytics and personalized marketing for apps and games, was recently purchased by Unity Technologies Inc, a game development platform. The acquisition price was not released. Founded in 2009, Playnomics was a portfolio company of Canadian venture capital firm Vanedge Capital, U.S. firms Firstmark Capital and X/Seed Capital and other investors.
2 min read · 21 April 2014
ARRIS Group, a U.S.-based developer of IP, video and broadband technology, has acquired SeaWell Networks Inc. No financial terms were disclosed for the transaction. Based in Mississauga, Ontario, SeaWell Networks is a provider of multi-screen video delivery solutions. The company was founded in 2008 and has been venture-backed since 2010. Its Canadian investors included BDC Venture Capital, MaRS Investment Accelerator Fund and Northwater Capital Management. Update: ARRIS said that it is integrating SeaWell's technologies and talent into its network and cloud business.
2 min read · 21 April 2014
