Private Equity
The Canadian subsidiary of Cisco Systems Inc (Nasdaq: CSCO) has committed $150 million to its Cisco Canada Innovation Program, a strategy to support and accelerate innovation in Canada. Cisco Investments will partner with Canadian venture capital funds and incubators and make direct technology investments as part of the strategy, along with providing Cisco technology and go-to-market expertise to Canadian businesses, the company said. Activity, which will emphasize a mix of digital technologies sectors, businesses and investment stages, will occur over the next 10 years.
3 min read · 19 June 2014
Thrasos Therapeutics Inc has hired Donald Notman as senior vice president and CFO. Previously, Notman worked at Leerink Partners as managing director and head of private capital markets. Based in Montréal, Thrasos is a biotherapeutics company focused on delivering new solutions for treating kidney disease. Update: In 2012, the company raised $35 million in a round led by SR One and with the participation of GSK Canada Life Sciences Innovation Fund, SW Co, Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures.
3 min read · 19 June 2014
Thrasos Therapeutics Inc has hired Donald Notman as senior vice president and CFO. Previously, Notman worked at Leerink Partners as managing director and head of private capital markets. Based in Montréal, Thrasos is a biotherapeutics company focused on delivering new solutions for treating kidney disease. Update: In 2012, the company raised $35 million in a round led by SR One and with the participation of GSK Canada Life Sciences Innovation Fund, SW Co, Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures.
3 min read · 19 June 2014
U.S. software company Red Hat Inc (NYSE: RHT) has agreed to acquire eNovance SAS, a provider of open source cloud computing services with headquarters in Paris and significant Canadian operations in Montréal. The cash and stock transaction is valued at 70 million euros, or around US$95 million, and is expected to be completed this month. Founded in 2008, eNovance last year secured $8.2 million in financing from European investors Entrepreneur Venture, BNP Paribas, Odyssée Venture and Oséo. French venture capital firm Odyssée Venture provided funding to the company in prior years.
6 min read · 18 June 2014
Kony Inc, an enterprise-focused mobility platform, has raised US$50 million in additional funding. The round was led by SoftBank Capital, the venture investment arm of Japanese telecom SoftBank Corp, and Insight Venture Partners. Joining the round was existing investor Georgian Partners, a Canadian venture capital firm, as well as Telstra Venture, Delta-V and Hamilton Lane. Founded in 2007, Kony has its headquarters in Orlando, Florida. Earlier in 2014, Georgian Partners led the $10 million Series B financing of Toronto's Top Hat Inc, a mobile and web-based classroom engagement company, and initially closed Georgian Partners Growth Fund II at $100 million.
5 min read · 18 June 2014
Axter Agroscience Inc, a developer and marketer of foliar applied biostimulants and nutrient solutions used in farming, has completed a management buyout led by CEO Pierre Migner. The buyout was backed by Avrio Ventures LP II, a fund managed by Canadian venture capital firm Avrio Capital, and will enable Axter to enhance its market position and build on its customer base. Founded in 1981, the company has its headquarters in Mont St-Hilaire, Québec. In March, peHUB Canada reported on Avrio's plans to raise a new fund focused on investing in innovative agriculture and food companies. The Calgary-based firm is said to be targeting a raise of up to $125 million.
2 min read · 18 June 2014
Axter Agroscience Inc, a developer and marketer of foliar applied biostimulants and nutrient solutions used in farming, has completed a management buyout led by CEO Pierre Migner. The buyout was backed by Avrio Ventures LP II, a fund managed by Canadian venture capital firm Avrio Capital, and will enable Axter to enhance its market position and build on its customer base. Founded in 1981, the company has its headquarters in Mont St-Hilaire, Québec. In March, peHUB Canada reported on Avrio's plans to raise a new fund focused on investing in innovative agriculture and food companies. The Calgary-based firm is said to be targeting a raise of up to $125 million.
2 min read · 18 June 2014
DIRTT Environmental Solutions Ltd (TSX: DRT) has completed its previously announced secondary offering of common shares held by a group of private equity and venture capital investors. Net proceeds totaling $17.5 million accrued to Expansion Capital Partners, Export Development Canada, Kayne Anderson Capital Advisors and other shareholders that have backed DIRTT in the past. Collectively, the investors continue to hold a minority position in the company. With headquarters in Calgary, DIRTT uses its proprietary 3D software to design and manufacture highly customized prefab interiors.
2 min read · 17 June 2014
Mirexus Biotechnologies Inc has secured a top-up investment to the seed-stage funding led by GreenSky Capital, a Toronto-based corporate finance advisory firm. The Guelph, Ontario-based Mirexus, which is commercializing sustainable nanoparticles useful in formulating greener, longer lasting personal care products and other applications, received an additional $150,000 from commercialization hub GreenCentre Canada. In March, the company was backed by members of GreenSky President’s Club (GPC) and other angel investors. GreenSky Capital sources, evaluates and manages opportunities for GPC.
3 min read · 17 June 2014
Mirexus Biotechnologies Inc has secured a top-up investment to the seed-stage funding led by GreenSky Capital, a Toronto-based corporate finance advisory firm. The Guelph, Ontario-based Mirexus, which is commercializing sustainable nanoparticles useful in formulating greener, longer lasting personal care products and other applications, received an additional $150,000 from commercialization hub GreenCentre Canada. In March, the company was backed by members of GreenSky President’s Club (GPC) and other angel investors. GreenSky Capital sources, evaluates and manages opportunities for GPC.
3 min read · 17 June 2014
