3 min read · 26 July 2019
Press Ganey Associates Inc, a South Bend, Indiana-based provider of patient experience measurement and performance improvement solutions, has been acquired by a consortium of private equity investors. Ares Management Corp and Leonard Green & Partners led the consortium and were joined by British Columbia Investment Management Corp (BCI) and others. Terms weren't disclosed. The seller was EQT Partners, which acquired Press Ganey in 2016. Established in 1985, Press Ganey works with more than 41,000 healthcare organizations.
5 min read · 26 July 2019
3 min read · 26 July 2019
ProteinQure, a Toronto-based software platform for computational protein drug discovery, has raised about $5.2 million (US$4 million) in a seed-stage financing. U.S. venture capital firm Felicis Ventures led the round. It was joined by 8VC, Golden Ventures, Inovia Capital, Global Founders Capital and angel investor Tom Williams. Launched two years ago by CEO Lucas Siow, CTO Tomas Babej, Head of R&D Mark Fingerhuth and CSO Chris Ing, ProteinQure uses molecular simulations, machine learning and quantum computing to solve drug design challenges and deliver new protein-based therapeutics. The company will use the funds raised for new hires and to expand industry partnerships.
3 min read · 26 July 2019
3 min read · 26 July 2019
Conexus Credit Union has launched a $30 million venture capital fund intended to invest in Saskatchewan's startup ecosystem. Conexus Venture Capital Fund has so far raised $22.5 million, of which $15 million came from Conexus, a Regina-based credit union, and $7.5 million from external investors. Managed by Conexus, the fund will invest in Saskatchewan-based companies in partnership with other venture capital firms and investors. Opportunities will be sourced in part through Cultivator, a Conexus-sponsored incubator located in Regina. The fund is led by Conexus Venture Capital Fund Manager Sean O’Connor. It has already finalized two deals and is expected to execute on others in the months ahead.
4 min read · 25 July 2019
Hudson’s Bay Co (TSX: HBC) said a special committee of its board will consider Catalyst Capital Group's offer to buy up to $150 million worth of the Canadian retailer's common shares. Catalyst, a Canadian private equity firm, earlier this week offered to acquire up to 14.8 million shares as a means of blocking the proposed take-private acquisition of Hudson's Bay, announced in June. Hudson's Bay said the committee, formed to evaluate the $1.74 billion proposal made by a group led by Executive Chairman Richard Baker, has invited shareholders to share their views. It also plans to explore other strategic alternatives.
3 min read · 25 July 2019
Toronto-based philanthropic fundraising platform Wisely has raised $1.5 million in a seed-stage financing, bringing its total funding so far to $2.1 million. The round was led by Canadian early-stage venture capital firm Ripple Ventures, with participation from Verstra Ventures and Maple Leaf Angels. Founded in 2017 by CEO Artiom Komarov, CTO Ryan Henry and COO Wes Moon, Wisely provides artificial intelligence-enabled technology to help charities, foundations, educational institutions and non-profit organizations more effectively pursue donations. The round's proceeds will be used by Wisely to expand its operations in the North American market.
2 min read · 25 July 2019
BDC Capital has provided undisclosed mezzanine financing to support the management buyout of Perfexia, a Kitchener, Ontario-based maker of light metal components and heavy welded assemblies. BDC partnered with Jeff Heffernan, formerly a Perfexia executive and minority shareholder. The seller was David Jones, the company's owner since 2000. BDC, which has previously backed Perfexia, invested through its Growth and Transition Capital group. Director Mark Lunick led the deal. Founded in 1977, Perfexia specializes in laser cutting, forming and welding of components, finished parts and assemblies for the industrial, construction, transportation and consumer product sectors.
3 min read · 25 July 2019
Rimot, a Dartmouth, Nova Scotia-based remote infrastructure monitoring company, has raised $1.2 million in financing. Canadian early-stage venture capital firm Innovacorp invested $500,000, with the rest coming from angel investors. Founded in 2016, Rimot offers turnkey remote monitoring and analytics to help business and government organizations ensure the reliability of critical equipment in the field and minimize downtime, maintenance costs and risk. Led by CEO Andrew Boswell, Rimot will use the round's proceeds to accelerate its growth in Canada and the United States.
2 min read · 25 July 2019
