Canadian venture capital firm Pangaea Ventures has closed its fourth advanced-materials fund, raising about $95 million (US$70 million) in commitments. Pangaea Ventures Fund IV was backed by a range of limited partners, including VanCity and BC Tech Fund, managed by Kensington Capital Partners. Pangaea also increased its strategic investors to twenty-five. Fund IV backers include existing investors CoorsTek, JSR and Mitsubishi Chemical Holdings and new investors Adidas, Doosan, Henkel, Lam Research, PTT Global, Sekisui, Severstal, Shin-Etsu and TOSOH. Vancouver-based Pangaea, founded in 2001 by General Partner Chris Erickson, said the fund will invest in up to 14 materials-driven companies addressing the energy, electronics, health and sustainability sectors.
2 min read · 30 April 2019
Caprion Biosciences Inc has acquired Serametrix Corp, a Carlsbad, California-based provider of immune monitoring services. No financial terms were disclosed. Caprion, a Montréal-based provider of immunology and proteomics services to the biopharmaceutical industry, said it will leverage Serametrix's expertise in the analysis of myeloid-derived suppressor cells and its global operations. The add-on deal is Caprion’s third since the company's acquisition in 2016 by U.K. healthcare private equity firm GHO Capital Partners. The seller was Chicago Growth Partners. Founded in 2000, Caprion is led by President and CEO Martin Leblanc.
3 min read · 30 April 2019
Bank of Montreal (BMO) has launched a new specialized group to provide advice and financing to companies in Canada's technology sectors. BMO's Technology and Innovation Banking Group will support companies at every stage of their life-cycle, from startup to post-exit or initial public offering, and help them build cross-border operations. The group is headed by Andre Salvi, whose prior BMO roles include serving as a private equity professional at BMO Capital Partners and leading partnerships with financial technology companies. He will be joined by Managing Directors Devon Dayton and Deirdre Bergin.
3 min read · 30 April 2019
2 min read · 30 April 2019
Canadian specialty finance firm Crown Capital Partners has provided a $25 million loan to Rokstad Holdings Corp, a Coquitlam, British Columbia-based provider of power line construction and maintenance services in North America. Rokstad's power line services include emergency and storm response, transmission and distribution line construction, and maintenance and underground cable services. Founded in 2008, the company was reacquired last year by the Rokstad family from U.K. construction business Carillion Plc. CEO Aaron Rokstad said the loan's proceeds will allow Rokstad to leverage a "growing pipeline of new projects and opportunities."
3 min read · 29 April 2019
Finitive, a New York-based financial technology platform, has raised about US$6 million in a seed-stage financing. The round was led by Atomic Labs and joined by other investors, including Ninepoint Partners, a Canadian private credit fund manager. Founded in 2017, Finitive provides institutional investors with access to alternative lending investments, including specialty finance, online lending, marketplace lending and private credit funds. Finitive will use the funds raised to develop its platform through machine learning, artificial intelligence, workflow automation and data analytics initiatives.
2 min read · 29 April 2019
CIBC Innovation Banking has provided a capital call facility to the fourth early-stage technology fund of Canadian venture capital firm Whitecap Venture Partners. Terms weren’t disclosed for the facility, which allows Whitecap IV to make investments in portfolio companies prior to calling capital from the fund’s limited partners. Earlier this year, Toronto-based Whitecap initially closed Whitecap IV, securing most of its C$125 million target. CIBC Innovation Banking is the technology lending arm of Canadian bank CIBC.
2 min read · 29 April 2019
CIBC Innovation Banking has provided a capital call facility to the fourth early-stage technology fund of Canadian venture capital firm Whitecap Venture Partners. Terms weren't disclosed for the facility, which allows Whitecap IV to make investments in portfolio companies prior to calling capital from the fund's limited partners. Earlier this year, Toronto-based Whitecap initially closed Whitecap IV, securing most of its $125 million target. CIBC Innovation Banking is the technology lending arm of Canadian bank CIBC.
2 min read · 29 April 2019
Telecon has acquired SC360, a Montréal-based provider of voice and data network infrastructure build and maintenance solutions. No financial terms were disclosed. The deal was backed with equity from a group of investors that included Clearspring Capital Partners, Caisse de dépôt et placement du Québec (CDPQ) and Capital régional et coopératif Desjardins (CRCD). Telecon, a Montréal-based provider of telecommunications network infrastructure services, said the purchase strengthens the scope of its Canadian connectivity services, especially in Québec and Ontario secondary markets. SC360 is Telecon's fourth acquisition since Clearspring, a Canadian mid-market private equity firm, led a $70 million financing of the company in 2017.
3 min read · 29 April 2019
Strato Automation, a Montréal-based maker of smart building control products, has raised mezzanine financing of $1 million from BDC Capital. BDC invested through its Growth and Transition Capital group. Founded in 2010 and led by President and CEO Pierre Samson, Strato designs devices allowing automated and centralized control of all heating, ventilation and air conditioning systems of buildings. In 2017, the company was acquired by a group of shareholders. The funds raised from BDC completes a second financing to accelerate the group's plan to further develop Strato's products and distribute them on a larger scale.
3 min read · 29 April 2019
