OMERS Infrastructure has closed its investment in SFR FttH, a French alternative fibre-to-the-home infrastructure wholesale operator. OMERS Infrastructure led a consortium, including Allianz Capital Partners and AXA Investment Managers, that acquired a 49.99 percent stake in SFR FttH alongside Altice France. Terms weren't disclosed. The seller, Altice Europe NV, said the deal is valued at €1.7 billion ($2.6 billion). OMERS Infrastructure, an affiliate of Canadian pension fund OMERS, said the deal is its first in France and its first major greenfield investment in the telecom infrastructure space.
2 min read · 27 March 2019
Maple Leaf Angels (MLA) and Maple Leaf Angels Capital Corp have launched their third angel investment fund, MLA48 Fund III. The fund will be open to members of MLA, a Toronto-based angel organization that invests in early-stage technology companies. Like prior funds, it will focus on making decisions about investments within 48 hours of a startup's pitch. MLA48 Fund III will consider investing up to $150,000 in companies, with up to $300,000 available for follow-on investment. MLA members have invested more than $30 million in 55 companies in Canada since the organization's inception in 2007. Funds are overseen by Managing Director Prathna Ramesh.
2 min read · 27 March 2019
Orolia SA has acquired Skydel Solutions, a Montréal-based provider of GNSS simulation and test solutions to scientists and engineers who develop navigation systems. No financial terms were disclosed. Skydel, founded in 2014 by CEO Stéphane Hamel, CTO Iurie Ilie and CDO Serge Malo, will remain located in Montréal as Orolia Canada. Orolia, a Valbonne, France-based provider of positioning, navigation and timing solutions, said the acquisition increases its capabilities and gives it a presence in Canada. French private equity firm Eurazeo acquired Orolia in 2016.
3 min read · 27 March 2019
Global Spatial Technology Solutions (GSTS), a Dartmouth, Nova Scotia-based developer of digital solutions for the marine industry, has raised $2 million in a seed-stage financing. The round was backed by Canadian venture capital firms Innovacorp and Ecofuel as well as other private investors. Founded in 2005 and led by CEO Richard Kolacz, GSTS creates data management and analysis solutions that use satellite data for route optimization and risk management in the maritime shipping industry. The financing's proceeds will be used by the company to further develop its analytics, logistics and surveillance platform.
3 min read · 27 March 2019
Canadian consumer venture capital firm District Ventures Capital has invested in OHi Food Co, a Costa Mesa, California-based natural food provider. The investment's value was not disclosed. Founded in 2013 by Dawn Anderson, OHi Food makes five varieties of refrigerated plant-based snack bars. The proceeds of the deal will support the company's growth through marketing support, development and commercialization services.
3 min read · 26 March 2019
Altium Packaging Canada, an affiliate of Consolidated Container Co (CCC), has acquired Plastique Micron Inc (PMI), a Sainte-Claire, Québec-based manufacturer of plastic containers. No financial terms were disclosed. Established in 1970 by Jean-Guy Roy and Victor Fortier, PMI and its subsidiaries serve global customers in the pharmaceuticals, nutraceuticals, healthcare, food, industrial chemicals and cosmetics industries. CCC, an Atlanta, Georgia-based maker of rigid plastic packaging solutions, said the deal expands its portfolio and footprint in Canada. Investissement Québec and Fonds de solidarité FTQ acquired a majority stake in PMI in 2016.
3 min read · 26 March 2019
Sharebee Technologies Inc, a Montréal-based peer-to-peer platform for self-storage, has raised an undisclosed pre-seed financing. Toronto-based self-storage company All Canadian Self-Storage led the round, with participation from Broken Glass Angels, ex-Uber General Manager J-N Guillemette and angel investors. Launched in 2017, Sharebee connects people with unused space, such as basements, garages, lockers, vacant rooms and warehouses, with people who have storage needs. Led by CEO Max Villemure, the startup will use the funds raised to enter the Toronto market and hire new talent.
3 min read · 26 March 2019
InnerSpace, a Toronto-based turnkey indoor location platform, has secured about $4.3 million (US$3.2 million) in a seed-stage financing. The round was led by BDC Capital‘s Women in Technology Venture Fund. It was joined by MaRS Investment Accelerator Fund, 500 Startups, Industry Ventures, Zach Coelius’ AngelList syndicate and others. Founded in 2014 and led by CEO James Wu, InnerSpace provides an internet-of-things-based platform that automatically maps and deploys location services in indoor spaces. Its customers include technology businesses, airlines, food and service organizations, sporting and entertainment facilities, and property managers.
4 min read · 26 March 2019
BDC Capital's Growth & Transition Capital said it has invested more than $180 million in business change-of-ownership deals since December 2017. The activity is part of BDC's commitment to invest $900 million in Canadian business transition and acquisition strategies over five years. Companies recently backed include BID Group, David Aplin Group, Deslaurier Custom Cabinets, Industries Polykar, Kendrick Equipment and Sancton. PE Hub Canada reported on the 2017 deal involving BID, a Prince George, British Columbia-based turnkey supplier to the forest products industry, led by Highland West Capital and joined by BDC and other investors.
3 min read · 26 March 2019
Toronto-based insurance technology provider Finaeo has raised $5.35 million in a seed-stage financing. Luge Capital, a Canadian fintech venture capital firm, led the round. It was joined by RGAX, an affiliate of U.S. life reinsurance company RGA, Rising Tide Ventures, Inovia Capital and angels led by AngelList Partner Alex Norman. Backers of Finaeo's $2.25 million round two years ago, including Impression Ventures and iGan Partners, also invested. Founded in 2016 and led by CEO Aly Dhalla, Finaeo offers a digital platform of automated tools and concierge support that allows insurance advisors to shorten the "prospect-to-policy" timeline. It will use the funds raised for product development, customer acquisition and growth.
4 min read · 26 March 2019
