The Government of Canada's Minister of Finance Jim Flaherty announced that Canada's C$75 million commitment to the Catalyst Fund, managed by the World Bank Group’s International Finance Corp. (IFC), has helped attract other investors, including private investors. The IFC's Catalyst Fund, launched in December 2012, is a private equity fund of funds focused on providing growth capital for companies delivering resource efficiency and low-emission products and services in emerging markets. To date, the fund of funds has raised a total of US$280 million.
2 min read · 29 January 2013
Online clothing retailer Frank & Oak, Inc. was voted best new Canadian startup by the 2012 Canadian Startup Awards presented by KPMG, reports TechVibes. Frank & Oak's current backers include Anges Québec, Lightbank, Real Ventures and Rho Canada Ventures. The company voted best overall startup, Indochino, Inc., which focuses on online custom menswear, is also venture-backed. Other award winners included iNovia Capital, voted best Canadian venture capital firm, and Ryan Holmes, CEO of venture-backed HootSuite Media, Inc., voted Canadian entrepreneur of 2012.
1 min read · 29 January 2013
Brookfield Renewable Energy Partners LP, a renewable power platform managed by Toronto's Brookfield Asset Management, has boosted its all-cash offer to acquire the common shares of Western Wind Energy Corp. from C$2.50 per C$2.60 per share. The offer is due to expire on February 11, 2013. Brookfield flagged the most recent bid as its "best and final offer", indicating that the firm will not discuss an alternative transaction. The Vancouver, British Columbia-based Western Wind owns and operates wind and solar generating facilities located in the United States.
4 min read · 29 January 2013
The Investment Accelerator Fund (IAF), which helps position emerging Ontario technology companies for further investment by angel investors and venture capitalists, made five new seed-stage investments. Since September 2012, IAF has invested up to C$500,000 in each of the following internet-focused and other IT companies: Atomic Reach, Inc., In the Chat, Inc., Jibestream, Inc., Privacy Analytics, Inc. and Vana Group, Inc. IAF, which is managed by the Toronto-based MaRS Discovery District, has to date invested a total of C$28.8 million in 62 companies.
5 min read · 29 January 2013
Angoss Software Corp. of Toronto, Ontario agreed to a deal with Salt Lake City-based private equity firm Peterson Partners. Terms of the deal have it set to conclude in June and Peterson Partners will acquire 100% of the outstanding securities of Angoss for approximately C$5.4 million. Angoss, which delivers predictive analytics to businesses looking to improve performance across sales, marketing and risk, has been a portfolio company of Wellington Financial LP since 2008.
7 min read · 29 January 2013
Beverly Hills buyout shop Platinum Equity is exploring a sale of Keystone Automotive Operations, which makes specialty auto parts such as grill guards, roof racks and superchargers that make cars faster and sleeker, three sources familiar with the matter told sister news service Reuters.
1 min read · 29 January 2013
Rocky Mountain Liquor, Inc. (RUM), an Edmonton-based company which owns and operates private liquor stores across Alberta, has entered into an agreement to acquire four additional stores in the province.The aggregate price of the purchase, which remains subject to certain conditions, is estimated to be C$3 million. According to Thomson Reuters (publisher of peHUB Canada), RUM received private equity investment in 2010.
3 min read · 28 January 2013
The real estate investment arms of the Caisse de dépôt et placement du Québec and US private equity firm TPG have partnered in the acquisition of Woolgate Exchange, a high-quality office building located in the centre of London's financial district. The Caisse's Ivanhoé Cambridge and TPG Real Estate invested a total of C$400 million in the transaction. This is the second purchase in London for Ivanhoé Cambridge in the past twelve months, bringing its total invested to C$650 million.
4 min read · 28 January 2013
Bariatrix Nutrition, Inc., a family-owned company which manufactures protein-rich foods and supplements for medically-monitored weight-loss diets, has secured C$12.9 million in financing from Canadian public sector pension fund the Caisse de dépôt et placement du Québec. Bariatrix, which is based in Lacine, Québec with additional facilities in Vermont, will use the proceeds of the new funds to support further growth and development.
2 min read · 28 January 2013
Mark MacLeod, a partner at Canadian early-stage venture capital firm Real Ventures and Montréal Start Up, has joined FreshBooks, Inc. as its head of business and corporate development. FreshBooks, based in Toronto, Ontario, is a specialist in cloud accounting for small business owners. Mr. MacLeod will continue to be involved with Real Ventures as a venture partner and with FounderFuel as a mentor
1 min read · 28 January 2013
