Chinese online shopping firm 360buy loses money, needs huge cash injections to feed its supply chain, and its profitable rival Alibaba Group has more than double its market share. That leaves it with one option - float before Taobao does.
3 min read · 19 February 2013
Teine Energy Ltd., a Calgary, Alberta-based company focused developing oil and gas properties, acquired Viking light oil assets in the Kerrobert region of southwest Saskatchewan. The terms of the transaction were not published. Tiene Energy is majority owned by Canada Pension Plan Investment Board (CPPIB). CPPIB has been backing the company's property acquisitions and other initiatives since June, 2010.
2 min read · 19 February 2013
War Eagle Mining Company Inc., a Vancouver, British Columbia-based mineral exploration and development company which is currently focused on projects in Mexico, completed its acquisition of Andromeda Resources Inc., also based in Vancouver. Under the terms of the agreement, War Eagle will carry on the base metals development business of Andromeda in Mexico. War Eagle is currently a portfolio investment of Canadian private equity firm PineTree Capital, which acquired shares in the company in December, 2012.
2 min read · 19 February 2013
GroupTalent Inc., a talent-as-a-service platform that focuses on hard-to-fill software design and development roles, has secured US$1 million in a seed-stage financing round from a mix of Canadian and US investors. The Seattle, Washington-based GroupTalent, founded in 2011, was backed in a deal led by Vancouver, British Columbia's Version One Ventures, an early-stage venture capital firm launched last year, alongside Founders’ Co-op., Menlo Ventures and a number of angel investors.
2 min read · 15 February 2013
Buyouts Magazine is now accepting nominations for its thirteenth annual Deal Of The Year Awards, which honor exceptional majority-stake transactions closed in 2012.
1 min read · 15 February 2013
Innoventé Inc., a Québec City-based developer of technology which converts organic wastes and residues into electricity, has entered into a loan agreement with government financial institution Investissement Québec. The amount of the loan is up to C$2 million, which the company will use to acquire equipment for construction of its Saint-Patrice-de-Beaurivage project and to fund its working capital. Founded in 2004, Innoventé is currently backed by the Caisse de dépôt et placement du Québec.
3 min read · 14 February 2013
Jigsee Inc., a Toronto-based provider of adaptive video streaming technology for wireless devices, has been acquired by Milpitas, California's Vuclip Inc. The financial terms of the transaction were not disclosed. Jigsee, which was founded in 2008 and is a former client of innovation centre MaRS Discovery District, obtained funding from angel venture capitalists. This activity included a Series A financing from the Indian Angel Network, a network of India-based angels investors, in 2011.
2 min read · 14 February 2013
Brookfield Asset Management has appointed Neil Thassim head of the firm's Private Funds Group in Asia. Mr. Thassim, who most recently served as a Managing Director and the head of RREEF's Asia-Pacific real estate business, will be responsible for marketing Brookfield's private fund offerings and maintaining investor relationships in the region from the firm's Hong Kong office. Brookfield's Private Funds Group offers an array of private real estate, infrastructure, timberlands, agrilands and private equity investment strategies.
3 min read · 14 February 2013
Method CRM, a Toronto-based startup which provides businesses with affordable apps, has closed its first venture capital financing. The company secured C$3 million in Series A funding from Klass Capital, bringing Method's total investment to date to C$6 million. The proceeds of the deal will be used to develop the company's platform to integrate with Intaact, Wave, Xero, FreshBooks and other accounting and SMB applications. The Method financing is Klass Capital's tenth since its founding in 2010. In 2012, Klass Capital LP, which totals C$50 million, was backed by Healthcare of Ontario Pension Plan.
4 min read · 14 February 2013
Toronto-based company startup Endemic Mobile Inc., a mobile app (Relay) provider that allows users to search for pictures and videos, has secured C$700,000 from a group of Canadian and US backers, according to a report by TechVibes. Among the company's investors are Montréal-based early-stage venture capital firm Real Ventures, and Californian firms The Social+Capital Partnership and Valar Ventures. Endemic was said to be part of Extreme Startup's "preccelerator" program which parallels that firm's main accelerator activity for selected startups.
1 min read · 14 February 2013
