AC JumpStart, an incubation and mentorship program targeted to technology startups in Southwestern Ontario, has been launched with $8 million in funding from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The program, which is managed by Waterloo commercialization hub Accelerator Centre, will provide $30,000 in seed capital to qualifying companies. It is expected that 180 companies will participate in the program over the next four years.
4 min read · 15 January 2015
Teralys Capital has committed $50 million to the first close of CTI II, the second life sciences fund of Canadian venture capital firm CTI Life Sciences. As reported by peHUB Canada, the firm raised $134 million of a targeted $150 million for its fund. Other investors in CTI II included the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and BDC Capital. The Montréal-based Teralys last November secured $279 million in the initial close of its second investment vehicle, Teralys Capital Innovation Fund.
3 min read · 15 January 2015
This year will mark the tipping point for in-store mobile payments. That is one of the predictions made in Deloitte’s 2015 Canadian Technology, Media & Telecommunications Predictions report, which was released this week. In 2015, near-field communication-enabled smartphone in-store payments will gain momentum on a global basis, and reach Canada by year's end, the report said. Additionally, the smartphone upgrade market will see continued growth. The 14th annual Deloitte report features 10 Canadian trends expected over the coming months in the technology, media and telecommunications industry.
7 min read · 14 January 2015
The Medical Devices Commercialization Centre (MDCC), an Ottawa-based agency focused on commercializing medical devices innovation, has named Richard J. Meadows as its first COO. Meadows was previously a managing partner at Canadian venture capital investor CTI Life Sciences Fund. Prior to then, he worked at the Caisse de dépôt et placement du Québec and held senior executive positions in several life sciences companies. MDCC recently secured operational funding from the Canadian government.
2 min read · 14 January 2015
U.S. venture capital firms raised a total of US$29.8 billion in capital commitments in 2014, up 69 percent from 2013, reported Thomson Reuters and the National Venture Capital Association (NVCA). As a result, last year reflected the highest level of fundraising in the American industry since 2007. The NVCA attributed the trend to a strong exit market for venture-backed companies. Fundraising activity was at its weakest in the fourth quarter of 2014, which accounted for US$5.6 billion in commitments, down nine percent from three months earlier.
4 min read · 14 January 2015
Vidyard has secured $18 million in a Series B financing. The round was led by U.S. venture capital firm Bessemer Venture Partners with the participation of existing investors iNovia Capital, OMERS Ventures, Salesforce Ventures and SoftTech VC. As a result of the deal, Bessemer partner Byron Deeter will join the company's board of directors. Vidyard, a video marketing software platform that helps marketers achieve results with online video content, said the deal will facilitate further growth and expansion of its product offerings. Based in Kitchener, Ontario, the company was founded in 2010. It has to date raised about $26 million in funding, according to Thomson Reuters' data.
5 min read · 14 January 2015
Canadian venture capital firm Emerillon Capital and Debiopharm Diagnostics, a subsidiary of Swiss biopharmaceutical conglomerate Debiopharm Group, have led a financing round for GenePOC Inc. The round's financial terms were disclosed. Based in Québec City, GenePOC is a developer of molecular devices to detect genes at point-of-care. The technology supports the early diagnosis and prevention of infectious diseases. Update: GenePOC was founded in 2007 by Dr. Michel G. Bergeron. Emerillon was established in 2013 through a partnership between Groupe Crédit Mutuel – CIC and Mouvement Desjardins.
3 min read · 13 January 2015
Interface Biologics Inc has closed a Series B financing round. The value of the investment was not disclosed. The deal was led by DSM Venturing, the technology investment arm of Dutch health, nutrition and materials business Royal DSM, and BDC Capital Healthcare Venture Fund, an existing investor. Interface Biologics said it will use the proceeds to accelerate the commercialization of its biomedical polymer technologies platform, which is aimed at improving the safety and effectiveness of medical devices. Based in Toronto, the company was founded in 2001 as a spinoff of the University of Toronto. It is also backed by Covington Capital Corp and MaRS Investment Accelerator Fund.
3 min read · 13 January 2015
Privateer Holdings, which last year launched Canadian medical cannabis facility Tilray, has received an investment from U.S. venture capital firm Founders Fuel. The "multi-million dollar" investment was not disclosed, but forms part of Privateer's’ Series B financing round, which has raised more than US$50 million to date. Founded in 2010, the U.S.-based Privateer opened Tilray as a federally-licensed commercial cannabis cultivation operation in April 2014. The company is located in Nanaimo, British Columbia, and its currently shipping to Canadian patients, according to Privateer's website.
3 min read · 08 January 2015
Visualization solutions provider NanoLumens Inc has raised US$13.3 million in a new round of financing. Canadian specialty finance firm Wellington Financial provided the US$5 million debt component of the transaction. NanoLumens, which has developed a flexible display technology platform for a wide range of customer applications, said it will use financing proceeds to accelerate its strategic business and technology development programs. Based in Atlanta, Georgia, the company was founded in 2006. It has previously secured funds from venture capital investors, according to Crunchbase.
4 min read · 07 January 2015
