Private Equity
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
Callidus Capital Corp (TSX: CBL), a specialty lending platform owned by Canadian private equity firm Catalyst Capital Group, has reported that its gross loans receivable has grown to $545 million, with an aggregate committed amount of $674 million. Additionally, its pipeline of potential new loans is now approximately $552 million, of which the company has signed back term sheets for $218 million. While the Toronto-based Callidus went public in April, it remains majority owned by Catalyst.
3 min read · 15 July 2014
Enterprise social intelligence platform NetBase Solutions Inc has obtained an additional US$9 million, completing its Series C financing round announced in June 2012. Chinese venture capital firm West Summit Capital led the round and was joined by existing investor Thomvest Ventures, the US$250 million early-stage fund of Canada's Peter Thomson. The top-up investment brings the total Series C round to US$23 million, which will provide the Mountain View, California-based NetBase the capital needed to expand its sales and services globally.
3 min read · 15 July 2014
Enterprise social intelligence platform NetBase Solutions Inc has obtained an additional US$9 million, completing its Series C financing round announced in June 2012. Chinese venture capital firm West Summit Capital led the round and was joined by existing investor Thomvest Ventures, the US$250 million early-stage fund of Canada's Peter Thomson. The top-up investment brings the total Series C round to US$23 million, which will provide the Mountain View, California-based NetBase the capital needed to expand its sales and services globally.
3 min read · 15 July 2014
Scribble Technologies Inc has acquired CoveritLive, a live events platform, from Demand Media Inc (NYSE: DMD), which bought the company in 2011. The deal's financial terms were not disclosed. Scribble said the acquisition will position it as a leader in the content engagement market with an expansive portfolio of technologies and services. Founded in 2008, the Toronto-based company is backed by Canadian venture capital investors Georgian Partners, Summerhill Venture Partners, Rogers Venture Partners and Export Development Canada. Originally Toronto based, CoveritLive received funding from Flagstone Capital and angel investors.
3 min read · 15 July 2014
Scribble Technologies Inc has acquired CoveritLive, a live events platform, from Demand Media Inc (NYSE: DMD), which bought the company in 2011. The deal's financial terms were not disclosed. Scribble said the acquisition will position it as a leader in the content engagement market with an expansive portfolio of technologies and services. Founded in 2008, the Toronto-based company is backed by Canadian venture capital investors Georgian Partners, Summerhill Venture Partners, Rogers Venture Partners and Export Development Canada. Originally Toronto based, CoveritLive received funding from Flagstone Capital and angel investors.
3 min read · 15 July 2014
MTPV Power Corp, a clean energy company that converts heat to electricity using semiconductor chips, has secured US$11.2 million in a Series B1 financing round. The round was led by Canadian venture capital firm Northwater Capital Management. Northwater, which did the deal through its Intellectual Property Fund, was joined by Total Energy Ventures, the venture capital arm of French oil and gas company Total SA, Saudi Basic Industries Corp, Point Financial, Spinnaker Capital, Ensys Capital, Clean Energy Venture Group and other investors. Founded in 2003, MTPV was its offices in Austin, Texas, and Medford, Massachusetts.
4 min read · 15 July 2014
ZipLocal Inc (TSXV: ZIP.H), a portfolio investment of Canadian venture capital firm Relay Ventures, has agreed to combine with Enthrive Inc through a reverse takeover. As part of the deal, the Toronto-based Enthrive, which operates an online and mobile marketplace for consumers interested in weight loss coaching, will raise a private placement of $7.5 million. Also based in Toronto, ZipLocal was formerly an independent online directory. Upon completion of the transaction, Enthrive shareholders, including investors under the private placement, will hold a majority of the common shares of the company.
4 min read · 14 July 2014
D-Wave Systems Inc has secured $30 million in additional funding from new and existing Canadian and U.S. investors, including BDC Capital, Draper Fisher Jurvetson, Goldman Sachs and Harris & Harris Group. The announcement confirms an earlier report about a filing with the U.S. Securities and Exchange Commission that said D-Wave had raised US$28.4 million. Founded in 1999, the Burnaby, British Columbia-based company said the new funds will be used to advance and scale its quantum computing technology, accelerate software development and build a software application ecosystem. D-Wave to date has raised $160 million in venture capital and government grants.
5 min read · 14 July 2014
D-Wave Systems Inc has secured $30 million in additional funding from new and existing Canadian and U.S. investors, including BDC Capital, Draper Fisher Jurvetson, Goldman Sachs and Harris & Harris Group. The announcement confirms an earlier report about a filing with the U.S. Securities and Exchange Commission that said D-Wave had raised US$28.4 million. Founded in 1999, the Burnaby, British Columbia-based company said the new funds will be used to advance and scale its quantum computing technology, accelerate software development and build a software application ecosystem. D-Wave to date has raised $160 million in venture capital and government grants.
5 min read · 14 July 2014
