Private Equity
Canadian businesses have yet to capitalize on market opportunities presented by "The “Internet of Things” (IoT), or machine-to-machine technology. That is the finding of a new study by International Data Corp (IDC) and sponsored by TELUS Corp. IDC found that only 6 percent companies in Canada have implemented an IoT program, and that another 7 percent are preparing to deploy in 2014. IDC said that the technology is on the cusp of rapid growth, however, with an additional 30 percent of businesses intending to deploy over the next two years. Annual IoT spending in Canada is also predicted to grow to $21 billion by 2018.
6 min read · 17 July 2014
Retsly, a Vancouver-based real estate software company, has been bought by Zillow Inc (NASDAQ: Z), a U.S. real estate and home-related marketplace. The financial terms of transaction were not disclosed. Zillow said the acquisition will support its efforts to provide innovative tools to help brokers, agents, franchisors and multiple listing services be more productive and successful. Founded in 2013, Retsly was a portfolio company of Canadian startup accelerator GrowLab and secured seed-stage funding from angel investors and BDC Venture Capital as part of its partnership with GrowLab.
3 min read · 17 July 2014
U.S. venture capital fund distributions to limited partners ended 2013 on a solid note by rising modestly in the fourth quarter and coming close to topping 2012’s strong performance. Annual distributions came to US$21.5 billion last year, down 3.6 percent from 2012, but still the industry’s fourth largest total behind 2012, 1999 and 2000, according to Cambridge Associates.
1 min read · 16 July 2014
U.S. venture capital fund distributions to limited partners ended 2013 on a solid note by rising modestly in the fourth quarter and coming close to topping 2012’s strong performance. Annual distributions came to US$21.5 billion last year, down 3.6 percent from 2012, but still the industry’s fourth largest total behind 2012, 1999 and 2000, according to Cambridge Associates.
1 min read · 16 July 2014
Stanislav Korsei and Oleksandr Zadorozhnyi, the Ukrainian-born founders of Zeetl Inc, are the first two successful applicants under the Start-up Visa Program, launched by the federal government in 2013 to attract foreign entrepreneurs to Canada. Zeetl, a social telephony and messaging platform, was nominated last October by Canadian startup accelerator GrowLab under the Business Incubator Stream of Start-Up Visa. Korsei is the company's CEO, while Zadorozhnyi serves as its CTO. The announcement was made at GrowLab's Vancouver headquarters by federal Citizenship and Immigration Minister Chris Alexander.
3 min read · 16 July 2014
A group of Toronto-based startups are working with Toronto Homecoming, a recruitment networking event, to attract talented Canadians living abroad to return to the city's technology ecosystem. The event, which is scheduled to take place on Oct. 9 through Oct. 11, will include a number of companies that have recently raised venture capital, including 500px, Bionym, Fresh Books, InteraXon, Shoebox, Shopify and Wattpad. The C100, a non-profit organization that promotes Canadian entrepreneurship, estimates there are currently 300,000 Canadians living and working in the Bay Area alone.
2 min read · 16 July 2014
A group of Toronto-based startups are working with Toronto Homecoming, a recruitment networking event, to attract talented Canadians living abroad to return to the city's technology ecosystem. The event, which is scheduled to take place on Oct. 9 through Oct. 11, will include a number of companies that have recently raised venture capital, including 500px, Bionym, Fresh Books, InteraXon, Shoebox, Shopify and Wattpad. The C100, a non-profit organization that promotes Canadian entrepreneurship, estimates there are currently 300,000 Canadians living and working in the Bay Area alone.
2 min read · 16 July 2014
Proteocyte Diagnostics Inc, developer of a novel diagnostics test for early identification of oral cancers, has joined crowdfunding platform MaRS Social Venture Connexion (SVX). Founded in 2011, Proteocyte Diagnostics is based in Toronto. MaRS SVX was launched last year to link accredited investors with profitable companies that make a social or environmental impact. There are currently 20 public share issuers on the platform, which is sponsored by Canadian innovation hub MaRS Discovery District. Issuers have raised a combined $1.2 million in funding to date.
3 min read · 15 July 2014
Proteocyte Diagnostics Inc, developer of a novel diagnostics test for early identification of oral cancers, has joined crowdfunding platform MaRS Social Venture Connexion (SVX). Founded in 2011, Proteocyte Diagnostics is based in Toronto. MaRS SVX was launched last year to link accredited investors with profitable companies that make a social or environmental impact. There are currently 20 public share issuers on the platform, which is sponsored by Canadian innovation hub MaRS Discovery District. Issuers have raised a combined $1.2 million in funding to date.
3 min read · 15 July 2014
U.S. venture capital funds raised US$7.39 billion in the second quarter, more than double the amount generated a year ago, as investor demand for startup companies stayed strong, Reuters reported. The number fell short of last quarter's US$9.08 billion, the strongest showing since late 2007, but still marks one of the biggest quarters in recent years, according to the National Venture Capital Association.
1 min read · 15 July 2014
