Merchant bank and advisory firm Kirchner Group has completed its management of Foragen Technologies Management, a Canadian venture capital investor focused on agricultural technology. Kirchner, which managed the firm's assets on behalf of the Royal Bank of Canada and two provincial institutional investors, said that it facilitated the sale of three of Foragen's portfolio companies to strategic acquirers. One company was sold for about US$500 million, while another "grew into a market leader in its sector." Founded in 2000, Foragen is based in Saskatoon, Saskatchewan.
5 min read · 26 March 2015
Members of Anges Québec, Anges Québec Capital Fund and Fier Succès have partnered to invest $1.225 million of follow-on funding in Feldan, a biopharmaceutical company based in Québec City. The round, the third in a series of financings by Anges Québec since 2011, was co-led by entrepreneurs Sylvain Chartier and Jean-Marc Rousseau. Established in 2007, Feldan is focused on supplying quality reagents necessary for the growth and differentiation of stem cells outside the human body. Last month, Anges Québec Capital Fund, a fund established to invest alongside Anges Québec members, was recapitalized at $85 million.
4 min read · 25 March 2015
The Business Development Bank of Canada (BDC) has named businessman Gerry Pond its first-ever BDC Entrepreneurship Champion. The award recognizes an entrepreneur who has created and grown one or more successful small or medium-sized businesses and has contributed to Canada's entrepreneurship ecosystem. Pond, who is chairman of Mariner Partners Inc, has co-founded a number of venture-backed information technology startups in Atlantic Canada, including Q1 Labs Inc and Radian6 Technologies Inc. He has also co-founded and helped lead startup accelerators and incubators in the region, including East Valley Ventures.
3 min read · 25 March 2015
Atlantic Motor Labs Inc, an engineering company specializing in turbomachinery development, has received $250,000 in seed financing from Canadian venture capital firm Innovacorp. Based in Halifax, Nova Scotia, Atlantic Motor Labs said it will use the funding proceeds to demonstrate and commercialize its down-hole motor technology, which is targeted to oil and gas and mining operations. Founded in 2013 as a spin-out from research work done at Dalhousie University, the company is led by founder and president Braden Murphy. It has previously raised $350,000 from other investors.
2 min read · 25 March 2015
Canadian clean-tech venture capital firm Chrysalix Energy Venture Capital has added Peter Bryant to its advisory board. Bryant is a 30-year executive business strategist and a standing senior fellow of the Kellogg Innovation Network. Based in Vancouver, Chrysalix is focused on making investments in sustainable innovations targeted to energy-intensive sectors.
3 min read · 24 March 2015
Lumenpulse Inc (TSX: LMP) has acquired all of the shares of SDL Lighting Inc, a designer and manufacturer of outdoor LED luminaires based in Québec City. The total cash consideration was $3.2 million. Headquartered in Montréal, Lumenpulse is a manufacturer of high performance, specification-grade LED lighting solutions. The company said the deal will expand its product portfolio and accelerate its entry into certain lighting segments. Lumenpulse went public in 2014, but continues to be backed by Canadian venture capital firm XPND Capital and other investors.
5 min read · 24 March 2015
Mojio Inc has secured $8 million in a Series A financing. Telekom Capital, the investment arm of German telecommunications company Deutsche Telekom AG, led the round with participation from Canadian venture capital firms Relay Ventures and BDC Capital, and from AOL Inc co-founder Steve Case. Headquartered in Vancouver, Mojio is a connected car app platform. Update: The company said the proceeds of its latest investment will provide support to its U.S. and international growth strategy. In October 2013, Mojio raised $2.3 million in seed-stage funding. That deal was led by Relay Ventures.
4 min read · 24 March 2015
Canadian apparel and design business Joe Fresh has committed $1 million to the launch of The Joe Fresh Centre for Fashion Innovation. The centre, which reflects a long-term partnership with Ryerson University, will develop and fund emerging Canadian fashion startups through Ryerson's Fashion Zone, a student-focused incubator. The initiative is modelled after Digital Media Zone, which has incubated over 125 companies since 2010.
4 min read · 23 March 2015
Ticketfly Inc has bought Northern Tickets, the ticketing service of The MRG Group, an owner of hospitality and entertainment operations across Canada. The deal's financial terms were not released. Ticketfly, a San Francisco-based ticketing technology platform, said the acquisition accelerates its growth and adds new Canadian venues to its client list. The company launched its Canadian operations in 2013. Founded in 2008, Ticketfly is backed by several U.S. venture capital firms, including Contour Venture Partners, Cross Creek Capital, Mohr Davidow Ventures, Northgate Capital, Primary Venture Partners and Sapphire Ventures.
4 min read · 20 March 2015
Katherine Barr, general partner at Mohr Davidow Ventures, is stepping down this month as co-chair of the C100, the Silicon Valley-based non-profit organization established to support Canadian entrepreneurship. She will be replaced in that role by Angela Strange, partner at Andreessen Horowitz. Strange will work with existing C100 Co-Chair Scott Bonham, founding partner of GGV Capital. Barr, who said she will remain on the C100's board of directors, was last year interviewed by peHUB Canada at the time of BuildDirect's Series B financing, which was led by Mohr Davidow.
6 min read · 19 March 2015
