1 min read · 25 February 2013
1 min read · 25 February 2013
3 min read · 25 February 2013
2 min read · 25 February 2013
The Government of Ontario's Throne Speech of February 19, 2013 included a commitment of C$50 million to "a new $300 million venture capital fund in partnership with its federal counterparts and the private sector." The announcement follows the federal government's decision in January to establish the C$400 million Venture Capital Action Plan, which includes provisions aimed at collaborating with provincial governments and recapitalizing existing funds-of-funds. In 2008, the Ontario government partnered with corporate and institutional investors in the launch of a C$205 million fund-of-funds, the Ontario Venture Capital Fund.
1 min read · 24 February 2013
Canadian buyout firm Onex Corp. has completed its sale of a 50 percent interest in RSI Home Products Inc. back to the Anaheim, California-based company. Proceeds from the transaction totaled US$323 million. Onex first invested in RSI in 2008. With the company buyback finalized, Onex announced it has received proceeds of US$471 million, including prior distributions, which results in a multiple of invested capital of approximately 1.5 times and an 11% rate of return.
2 min read · 24 February 2013
N4 Systems Inc., a Toronto-based company responsible for the safety management software product Field ID, has been acquired by Master Lock Canada Inc., a wholly-owned subsidiary of Master Lock Company LLC. The financial terms of the transaction were not released. Founded in 2006, N4 Systems received equity and debt financing from the Business Development Bank of Canada over 2011 and 2012. The company's venture capital financing in the latter year was also backed by IntelliVest Angel Group and other investors.
3 min read · 24 February 2013
Brookfield Renewable Energy Partners LP, a renewable power platform managed by Toronto's Brookfield Asset Management, has gained control over the majority of common shares in Western Wind Energy Corp. Brookfield acquired 59.7% of the common shares of independent shareholders in the company for approximately $92 million, raising Brookfield's total equity stake to 66.1%. The Vancouver, British Columbia-based Western Wind owns and operates wind and solar generating facilities located in the United States.
3 min read · 24 February 2013
Canadian venture capital firm Version One Ventures has closed its first micro-fund, raising C$19 million, or about 25% more than the partnership's target. The fund's backers include BDC Venture Capital, former Yahoo President Jeff Mallett and a number of North American entrepreneurs and high-net worth individuals. Founded in 2012, Version One, which invests up to $500,000 in seed and Series A financings of Internet, e-commerce, SaaS and mobile companies, has done close to a dozen deals so far, including recently announced financings of GroupTalent Inc. and Jobber Inc.
4 min read · 24 February 2013
Spectra7 Microsystems Inc., a Toronto-based analog semiconductor company delivering speed, resolution and signal fidelity to consumer and wireless infrastructure products, has established a listing on the Toronto Stock Exchange and will begin trading under the symbol SEV. Spectra7 was founded last year as a result of a merger backed by Canadian venture capital firms. Celtic House Venture Partners led the company's startup financing round of C$11 million in August, 2012 with the participation of Edgestone Capital Venture Fund III and Ventures West Capital.
3 min read · 22 February 2013
