BlackBerry Ltd has acquired a U.K.-based mobile technology start-up whose software allows users to have multiple phone numbers on the same device, Reuters reported. The purchase of Movirtu helps BlackBerry ramp up its portfolio of services to cater to the needs of its core base of corporate and government clients. Movirtu is a portfolio company of British venture capital firm TLcom Capital and the U.S.-based Gray Ghost Ventures.
3 min read · 11 September 2014
Canadian investment and merchant banking firm Pinetree Capital recently acquired up to 14.3 percent of the issued and outstanding common shares of Enerdynamic Hybrid Technologies. MCM Capital One Inc, a capital pool company, bought Enerdynamic in a reverse takeover earlier this month. Based in Welland, Ontario, the company is focused on traditional commercial and utility scale solar projects in North America and elsewhere around the world.
2 min read · 10 September 2014
Canadian venture capital firm Chrysalix Energy Venture Capital has announced that Stefan Heck will join its industry advisory board. Heck, who was a senior partner and co-founder of the cleantech and sustainability transformations practice at McKinsey & Co and is currently a professor at Stanford University, will advise Chrysalix and its portfolio companies on investment and business strategies. Based in Vancouver, Chrysalix invests in breakthrough sustainable innovations for energy-intensive industries.
3 min read · 10 September 2014
The Canada Media Fund (CMF), which supports companies that promote Canadian creative content, is partnering with BDC Capital, an affiliate of the Business Development Bank of Canada (BDC), to increase the funding available to project commercialization in the digital media industry. Under this arrangement, BDC will provide eligible ventures in gaming and software with a convertible note worth $150,000 to complement investments already committed by CMF. One objective of the partnership will be to increase opportunities for these companies to secure additional private sector investments.
3 min read · 10 September 2014
Redline Communications Group Inc (TSX: RDL) has agreed to purchase the assets of PureWave Networks Inc, a wireless technology company located in Santa Clara, California, for $2 million. The Toronto-based Redline said the deal will allow it to accelerate the expansion of its suite of high performance rugged network solutions to include new capabilities. Founded in 2003, PureWave has been venture-backed since 2007. Its U.S. investors have included Allegis Capital, ATA Ventures, Benhamou Global Ventures, Leapfrog Ventures and Webb Investment Network. Redline was also venture-backed prior to going public in 2007.
4 min read · 10 September 2014
Vancouver-based e-commerce provider Elastic Path Software has raised $5.35 million in a new financing round led by BDC Venture Capital IT Fund and joined by Yaletown Venture Partners and several angel investors. The new funds will help Elastic Path position its digital technology platform and scale its operations to anticipate a major market shift in the direction of experience-driven commerce.
3 min read · 10 September 2014
Montréal-based private equity and venture capital firm the Fonds de solidarité des travailleurs du Québec FTQ has appointed Sylvie Des Roches as its vice president, internal audit. Des Roches will be responsible for ensuring adequate and effective operating processes and will help oversee financial and regulatory compliance matters. Before joining the Fonds de solidarité FTQ, she held several senior executive roles at the Standard Life Assurance Co.
2 min read · 09 September 2014
Canadian venture capital firm Avrio Capital has raised $65 million in the first close of its fourth institutional late-stage fund, Avrio Ventures LP III. Focused on investing in innovative agriculture and food companies, the fund received capital commitments from existing limited partners Farm Credit Canada and Export Development Canada. The Calgary-based Avrio said the subsequent close of Avrio Ventures LP III, which is targeted to raise $125 million in total, is likely to occur in the coming months. Founded by managing directors Jim Taylor and Aki Georgacacos, the firm has invested in 52 companies during the last 12 years. Avrio's original fund is now fully realized, having achieved an IRR of approximately 20 percent.
3 min read · 09 September 2014
Averna Technologies Inc has bought Cal-Bay Systems Inc, a U.S.-based provider of test systems, test and measurement services, automated testing and vibration monitoring tools, for an undisclosed sum. Averna said the deal strengthens its presence in the medical device, vibration monitoring, and consumer electronics markets. Based in Montréal, Averna is a developer of test products and services for communications and electronics device-makers. It is backed by Canadian private equity and venture capital firm Fondaction CSN, the Caisse de dépôt et placement du Québec and other investors.
3 min read · 09 September 2014
GlassPoint Solar Inc, a provider of solar steam generators to the oil and gas industry, has raised US$53 million in equity investment. The deal was led by Oman State General Reserve Fund and Shell Technology Ventures and was joined by the company's existing backers, which include Canadian venture capital firm Chrysalix Energy Venture Capital. GlassPoint will use the new funds to accelerate deployment of its solar steam generators, which the company said can reduce an oilfield’s natural gas consumption by up to 80 percent. Founded in 2008, GlassPoint is based in Fremont, California.
5 min read · 09 September 2014
