Frst Reserve Corp was among the private equity firms that contributed to an energy firm run by Aubrey McClendon, the former Chesapeake Energy Corp chief executive, who has raised $1.7 billion to drill on shale acreage in Ohio’s Utica Shale, sister news service Reuters reported.
1 min read · 09 October 2013
Toronto-based private equity and venture capital firm Pinetree Capital has acquired a stake in Las Vegas From Home.com Entertainment Inc (LVHF). As a result of the transaction, which closed on October 7, 2013, Pinetree now holds approximately 11.9% of all issued and outstanding common shares in the company. Based in Vancouver, LVFH is a provider of e-gaming software solutions.
2 min read · 09 October 2013
Toronto-based Fiera Axium Infrastructure has agreed to acquire for an undisclosed amount an equity interest in the solar portfolio of Recurrent Energy, a solar project developer and generating company. The portfolio comprises ten solar projects located near Barrie and London, Ontario that will have generation capacity of 108 MWp by early 2014. Fiera will acquire a 50% equity interest in eight of the projects, with Metropolitan Life Insurance Co assuming the balance. Fiera will take a 100% interest in the remaining projects.
3 min read · 08 October 2013
Saskatchewan's Financial and Consumer Affairs Authority (FCAA) has asked for public feedback on its proposed equity crowdfunding exemption. The proposal would enable startups and small businesses in the province to make two, six-month offerings of $150,000 per year. Saskatchewan-based investors would be limited to investing no more than $1,500 per offering. FCAA consultations will run until November 6th. The Ontario Securities Commission is among other regulators that are also currently considering crowdfunding framework rules.
3 min read · 08 October 2013
San Francisco-based BASIS Science Inc, the maker of Basis, a wearable health tracker to improve fitness and sleep, has obtained an additional US$11.75 million in Series B financing, bringing the total round to more than US$23 million. The deal includes investments from Canadian venture capital firm iNovia Capital, as well as Intel Capital, Dolby Family Trust, Stanford University and Peninsula-KCG. Existing investors Mayfield Fund, DCM and Norwest Venture Partners also participated. BASIS Science has raised US$32.3 million in funding to date.
3 min read · 08 October 2013
San Francisco-based Gobstopper, an interactive digital reading platform for teachers and their students, has secured US$1.8 million in seed-stage financing. The round was led by Canadian venture capital firm Relay Ventures, which was joined by Reed Hastings and New Schools Venture Fund, Kapor Capital, Sand Hill Angels, and Garnett Ventures. The company will use investment proceeds to accelerate new product and app development. In connection with the deal, Kevin Talbot, Relay's co-founder and managing partner, joined the Gobstopper board of directors.
5 min read · 08 October 2013
Canadian private equity firm 32 Degrees Capital has closed its 32 Degrees Diversified Energy Fund II, raising commitments totaling $84.6 million. The partnership's backers include endowments, family offices, funds-of- funds, government sources and high net worth investors from across North America. At the time of closing, the fund had already committed over $45 million through six transactions. The Calgary-based 32 Degrees focuses on diversified energy investments, partnering with management teams in early-stage oil and gas companies and energy service, equipment and manufacturing businesses.
3 min read · 08 October 2013
The Canadian government said on Monday it blocked a bid from a company controlled by Egyptian telecom tycoon Naguib Sawiris to buy a fiber optic network, citing national security concerns. Manitoba Telecom Services Inc (MTS) had announced in May it would sell its Allstream fiber optic network for C$520 million to Accelero Capital Holdings, which is controlled by the Egyptian telecom magnate.
3 min read · 08 October 2013
Toronto-based Laborie Medical Technologies Inc, a portfolio company of Audax Group, said Tuesday that it has completed its buy of UroMed Technology Inc. No financial terms were disclosed. Headquartered in San Ramon, California, UroMed is a provider of biofeedback and electrical stimulation medical equipment and accessories. Laborie is a maker and provider of medical testing equipment and consumables. Update: Laborie, which was acquired by U.S.-based private equity firm Audax in 2012, earlier this year purchased Life-Tech Inc of Stafford, Texas.
2 min read · 08 October 2013
Hancock Capital Management LLC sees good opportunities for its mezzanine investing strategy, even though the firm faces strong competition from senior debt in today’s low interest rate market.
2 min read · 08 October 2013
