500px, a Toronto-based photo-sharing platform for photographers, announced several key personnel changes and additions this week, including Patrick Lor as board member, Evgeny Tchebotarev as Chief Product Officer, Andy Yang as Chief Operating Officer, and Renat Gataullin as Chief Technology Officer. 500px is venture-backed by Andreessen Horowitz, Harrison Metal Capital, and FF Venture Capital, among others.
4 min read · 05 September 2013
Hudson's Bay Company recently announced that the HSR Act waiting period has been terminated early as part of Hudson's Bay's proposed acquisition of Saks Incorporated. The early termination of this period, which provides the US government an opportunity to review effects on competition prior to mergers, will serve to expedite Hudson's Bay's previously-announced acquisition of Saks.
2 min read · 05 September 2013
The Business Development Bank of Canada and the Fonds de solidarité FTQ have announced today that they have made a US$30 million commitment to Sanderling Ventures in conjunction with its Fund IV, a life sciences fund with a target of US $250 million. The investment from BDC and FTQ will be placed in a Canadian side fund, with Sanderling creating a permanent facility for the development of early-stage life science companies and co-investment opportunities in Montréal.
4 min read · 05 September 2013
Affinium Pharmaceuticals announced this week that, in conjunction with its Phase 1 trial of a new antibiotic for treatment of Staphylococcal Infections, it has raised a new round of financing from its current investors. Financial terms were not disclosed, but Toronto-based Affinium is venture-backed by Forward Ventures, the Ontario Emerging Technologies Fund, SV Life Sciences, and Genesis Capital Corporation.
4 min read · 05 September 2013
Cinram Group, a Toronto-based media development company, announced this week that it mas acquired Saffron Digital, a London, UK-based provider of video solutions services, for US$47 million. Cinram was previously acquired by Najafi, an Arizona-based PE firm, in 2012, while Saffron Digital was formerly venture-backed by Beringea Private Equity.
4 min read · 05 September 2013
The Canada Pension Plan Investment Board, which manages C$188.9 billion in assets, instituted some management changes earlier this year on its private investments team.
2 min read · 05 September 2013
Oil and gas company EP Energy Corp has filed for an initial public offering, potentially marking a fast exit after it was taken private by Apollo Global Management LLC in the largest private equity deal of 2012, sister news service Reuters reported.
3 min read · 05 September 2013
Wishabi said Thursday that it has closed $15 million in Series B financing from Insight Venture Partners. According to the company, the capital will be used for expansion in the U.S. market and technology development. Based in Toronto, Wishabi is a digital circular platform for retailers in North America.
3 min read · 05 September 2013
Deal-making in Québec’s venture capital (VC) market showed continued expansion in dollar terms in the second quarter of 2013. VC invested by funds totaled $246 million in this period, or better than double the $100 million invested at the same time in 2012. The number of VC financing rounds involving Québec-based companies was unchanged year over year, with 52 deals reported in Q2 2013.
5 min read · 05 September 2013
Vancouver-based Banyan Capital Partners announced this week that it has acquired a majority stake in MIP, Inc., a Montreal-based manufacturer of healthcare textiles and reusable healthcare products. Financial terms were not disclosed.
2 min read · 05 September 2013
