Seequent has acquired a minority interest in Minalytix, a Sudbury, Ontario-based mining data software company. Terms weren't disclosed. Founded in 2013 by CEO David Peres and COO Robert Patterson, Minalytix is the maker of MX Deposit, a drill hole and sample data management platform for the exploration and mining industry. Seequent, a Christchurch, New Zealand-based developer of geoscience analysis, modelling and collaborative technologies, said it will partner with Minalytix to maximize the value of MX Deposit for customers. Last year, Seequent was backed by U.S. technology private equity firm Accel-KKR.
5 min read · 11 July 2019
Montréal-born hospitality brand Sonder has raised about $275 million (US$210 million) in a Series D financing led by Valor Equity, Westcap and Nicolas Pritzker, all new investors. The round values the business at more than US$1 billion, according to a news release. Other first-time backers of the deal include Canada’s Inovia Capital, which earlier this year raised US$600 million for new venture and growth-equity funds. Founded in 2012 by CEO Francis Davidson and COO Lucas Pellan, Sonder has its headquarters in San Francisco, relocating from Montréal in 2017. As part of the Series D, the company said it will open a second global HQ in Canada.
2 min read · 11 July 2019
U.S. mining private equity firm Orion Mine Finance has agreed to acquire 70.4 million common shares of Victoria Gold Corp (TSX-V: VIT), a Toronto-based gold exploration and development company. Orion bought the shares for $32 million from Electrum Strategic Opportunities Fund, a private equity fund managed by U.S. investment firm Electrum Group. Following the deal, Orion will hold an about 47 percent interest in Victoria, assuming the full exercise of warrants, up from about 39 percent. Victoria is currently constructing its Eagle Gold Mine in Yukon, which is expected to begin pouring gold this year. Orion and other investors agreed to finance the project in 2018.
3 min read · 10 July 2019
La Coop fédérée has agreed to acquire select assets of F. Ménard, a Ange-Gardien, Québec-based company specializing in hog breeding and pork processing. No financial terms were released for the deal, which will see La Coop fédérée's Olymel and Sollio Agriculture affiliates take on F. Ménard's pork and milling assets. The agreement does not include F. Ménard's activity in the poultry production sector. Based in Montréal, La Coop fédérée is an agri-food co-operative. In 2017, it raised a $200 million investment from National Bank of Canada, Fonds de solidarité FTQ, Fondaction and Capital régional et coopératif Desjardins to support the company's five-year growth plan.
6 min read · 10 July 2019
3 min read · 10 July 2019
Toronto-based enterprise wealth management platform d1g1t has secured an additional C$3 million in financing, bringing its total funding to C$12 million. The investment, made by U.K. venture capital firm Illuminate Financial Management, tops up d1g1t ‘s Series A round, announced last November. It was led by Canadian financial services firm Purpose Financial LP. Illuminate’s Mark Rodrigues will join the board. Founded in 2017, d1g1t provides integrated technology that uses advanced analytics and risk management tools to help wealth management companies better advise and serve their clients.
3 min read · 10 July 2019
BDC Capital and Desjardins Capital have invested $3.4 million in the acquisition of the Pit Caribou microbrewery located in L'Anse‑à‑Beaufils in the Gaspé region of Québec. The acquisition, also backed by Investissement Québec, was made by entrepreneurs Vincent Coderre and Jean‑François Nellis. Terms weren't disclosed. Established in 2007, Pit Caribou produces craft beers and operates pubs in Percé and Montréal. Co-founder Francis Joncas will remain with the company for the next three years. BDC invested through its Growth and Transition Capital group. Desjardins Capital is the investment arm of Canadian financial co-operative Desjardins Group.
3 min read · 10 July 2019
Toronto-based enterprise wealth management platform d1g1t has secured an additional $3 million in financing, bringing its total funding to $12 million. The investment, made by U.K. venture capital firm Illuminate Financial Management, tops up d1g1t 's Series A round, announced last November. It was led by Canadian financial services firm Purpose Financial LP. Founded in 2017, d1g1t provides integrated technology that uses advanced analytics and risk management tools to help wealth management companies better advise and serve their clients. Led by CEO Dan Rosen, d1g1t will use the funds raised to accelerate product innovation and expand in the U.S. market.
3 min read · 10 July 2019
District Ventures Capital, a Canadian consumer-goods venture capital firm founded by Dragon’s Den star and entrepreneur Arlene Dickinson, has raised additional capital. Ontario Municipal Employees Retirement System (OMERS) and Bank of Montreal (BMO) provided the commitments, increasing District's debut fund to $70 million. OMERS committed $33 million. Calgary-based District invests in early-stage consumer-goods companies, including innovative brands in Canada’s food, beverage and health sectors. The firm also sponsors an accelerator. Fund I was initially capitalized in 2017 by George Weston Ltd, the Saputo family, ATB Financial, Canada Goose CEO Dani Reiss, Retail Ready Foods and other limited partners.
3 min read · 10 July 2019
Arterra Wines Canada Inc (AWC) has acquired Culmina Family Estate Winery, an Oliver, British Columbia-based premium boutique winery, for an undisclosed amount. The seller was the Triggs family. Don Triggs and Elaine Triggs, who founded Culmina in 2007, are retiring but will support the company's transition over the next several months. AWC, a Mississauga, Ontario-based producer and marketer of Canadian and imported wines, said the acquisition complements its diverse selection of 100-plus brands. AWC, formerly known as Constellation Brands Canada, was acquired in 2016 by Ontario Teachers' Pension Plan. The deal was valued at $1.03 billion.
3 min read · 09 July 2019
