Private Equity
Xagenic Inc has completed a $25.5 million second close of its Series B financing round. The new investor is Canadian venture capital firm BDC Capital, which joins earlier Series B investors CTI Life Sciences Fund, Domain Associates and Ontario Emerging Technologies Fund. BDC senior managing partner Dion Madsen, who was interviewed by peHUB Canada last October, has taken a seat on Xagenic's board of directors. Based in Toronto, the company is a molecular diagnostics specialist developing the first lab-free molecular diagnostic platform. Xagenic is currently focused on its development program in anticipation of an analytical and clinical study start later in 2014.
4 min read · 14 July 2014
Xagenic Inc has completed a $25.5 million second close of its Series B financing round. The new investor is Canadian venture capital firm BDC Capital, which joins earlier Series B investors CTI Life Sciences Fund, Domain Associates and Ontario Emerging Technologies Fund. BDC senior managing partner Dion Madsen, who was interviewed by peHUB Canada last October, has taken a seat on Xagenic's board of directors. Based in Toronto, the company is a molecular diagnostics specialist developing the first lab-free molecular diagnostic platform. Xagenic is currently focused on its development program in anticipation of an analytical and clinical study start later in 2014.
4 min read · 14 July 2014
A new study by the Centre for Digital Entrepreneurship and Economic Performance (DEEP) has found that Canadian businesses with revenues of more than $1 billion have been increasingly engaged in the global economy and growing through foreign and domestic acquisitions. Most of the growth has been in resource, service and engineering and construction sectors. However, the DEEP study, which was commissioned by the Business Development Bank of Canada, the Canadian Digital Media Network, Export Development Canada and Industry Canada, also found that Canada's economy still tends to be dominated more by small enterprises relative to other economies.
5 min read · 11 July 2014
A new study by the Centre for Digital Entrepreneurship and Economic Performance (DEEP) has found that Canadian businesses with revenues of more than $1 billion have been increasingly engaged in the global economy and growing through foreign and domestic acquisitions. Most of the growth has been in resource, service and engineering and construction sectors. However, the DEEP study, which was commissioned by the Business Development Bank of Canada, the Canadian Digital Media Network, Export Development Canada and Industry Canada, also found that Canada's economy still tends to be dominated more by small enterprises relative to other economies.
5 min read · 11 July 2014
D-Wave Systems Inc has raised an additional US$28.4 million in venture capital financing according to a new filing with the U.S. Securities and Exchange Commission. The Burnaby, British Columbia-based company, which designs and manufactures quantum computing and superconducting electronics, secured the latest round from a mix of new and existing investors. Since its founding in 1999, D-Wave's Canadian and U.S. backers have included BDC Venture Capital, Draper Fisher Jurvetson, Goldman Sachs, GrowthWorks, Harris & Harris Group and Kensington Capital Partners. The company's prior round, totaling $30 million, closed in October 2012.
2 min read · 11 July 2014
Capital régional et coopératif Desjardins (CRCD), a retail fund managed by Canadian private equity firm Desjardins Capital de risque, will be restricted to raising a maximum of $63 million in 2014. The limitation is a result of requirements set out in the Québec budget tabled on June 4, and the fact that the fund's capital ceiling of $1.25 billion has been reached. CRCD has been authorized by the government to raise $150 million in 2015. Based in Montréal, CRCD supports the growth of over 360 businesses, cooperatives and funds in various Québec industries.
2 min read · 10 July 2014
Capital régional et coopératif Desjardins (CRCD), a retail fund managed by Canadian private equity firm Desjardins Capital de risque, will be restricted to raising a maximum of $63 million in 2014. The limitation is a result of requirements set out in the Québec budget tabled on June 4, and the fact that the fund's capital ceiling of $1.25 billion has been reached. CRCD has been authorized by the government to raise $150 million in 2015. Based in Montréal, CRCD supports the growth of over 360 businesses, cooperatives and funds in various Québec industries.
2 min read · 10 July 2014
Wantering, an online fashion discovery platform, has bought StyledOn, a social shopping network based in Beverly Hills, California. The financial terms of the acquisition were not disclosed. Wantering made the announcement concurrent with its launch of the Wantering Insider Network, an invitation-only community of style bloggers, to which StyledOn will contribute. Founded in 2011, the Vancouver-based Wantering closed its seed-stage financing round in December 2012. The deal was led by Canadian venture capital firm Yaletown Venture Partners and was joined by BDC Venture Capital, GrowLab, SK Ventures, WUTIF Capital and other investors.
2 min read · 10 July 2014
Wantering, an online fashion discovery platform, has bought StyledOn, a social shopping network based in Beverly Hills, California. The financial terms of the acquisition were not disclosed. Wantering made the announcement concurrent with its launch of the Wantering Insider Network, an invitation-only community of style bloggers, to which StyledOn will contribute. Founded in 2011, the Vancouver-based Wantering closed its seed-stage financing round in December 2012. The deal was led by Canadian venture capital firm Yaletown Venture Partners and was joined by BDC Venture Capital, GrowLab, SK Ventures, WUTIF Capital and other investors.
2 min read · 10 July 2014
Georgian Partners Growth Fund II, the second applied analytics fund of Canadian venture capital firm Georgian Partners, has secured a strategic investment from Cisco Systems Inc. The undisclosed commitment will add to the $100 million that Fund II raised in its first closing in February. Cisco announced plans last month to commit $150 million to support and accelerate innovation in Canada over the next 10 years. The strategy includes making investments in Canadian venture capital funds. Based in Toronto, Georgian Partners in May led the $10 million Series B financing of Top Hat, a mobile and web-based provider of classroom engagement and teaching tools.
2 min read · 10 July 2014
