Gateway Casinos & Entertainment Ltd has acquired Chances Casino Kamloops, a Kamloops, British Columbia-based gaming company. No financial terms were disclosed. Gateway, a Vancouver-based gaming and entertainment business, said the acquisition increases the number of properties it operates in British Columbia, Alberta and Ontario to 26. In November, Gateway, which has been owned since 2010 by Canadian private equity firm Catalyst Capital Group, filed for an initial public offering on the New York Stock Exchange.
3 min read · 15 January 2019
Public Sector Pension Investment Board (PSP Investments) has acquired a majority stake in BFB Pty Ltd, a Temora, Australia-based diversified farming business. Terms weren't disclosed. The seller was U.S. resource private equity firm Proterra Investment Partners, which invested in 2008. PSP, which did the deal through its natural resources group, said it will support BFB's continued strategic development. Established in 1985, BFB has a cropping portfolio comprising 44,167 hectares of arable land, as well as grain storage, fertilizer, agronomy, livestock, farming and logistics businesses.
4 min read · 15 January 2019
Vention, a Montréal-based digital manufacturing platform for machine design, has secured $17 million in a Series A financing. U.S. venture capital firm Bain Capital Ventures led the round, with participation from White Star Capital, Bolt and Real Ventures, which invested in last year's $3.5 million seed financing. Founded in 2016 by CEO Etienne Lacroix and CTO Max Windisch, Vention helps engineers and other professionals in robotics, aerospace, automotive and other industries to rapidly design, order and assemble custom factory equipment. It will use the funds raised to accelerate development of its MachineBuilder 3D software, expand its modular hardware library, and bring additional solutions to market.
4 min read · 15 January 2019
1 min read · 15 January 2019
Solink, an Ottawa-based data-driven cloud security platform, has raised $16.3 million in a Series A financing. The round was led by U.S. growth equity firm Valor Equity Partners. It was joined by Generation Ventures, ScaleUp Ventures and BDC Capital's IT Venture Fund. All four investors backed the company's $5 million round in 2017. Founded in 2009, Solink's video-centric software helps brick-and-mortar businesses manage operations, security and loss prevention. Its customers include restaurants, retailers and financial institutions. Led by CEO Mike Matta, the company will use the funds raised to further develop the platform and expand its team.
3 min read · 15 January 2019
Sonrai Security, a Fredericton-based provider of cloud data control and compliance solutions, has officially launched with the close of a $24.5 million (US$18.5 million) Series A financing. U.S. venture capital firms Polaris Partners and TenEleven Ventures led the round. They were joined by New Brunswick Innovation Foundation. Sonrai was founded two years ago by CEO Brendan Hannigan and CTO Sandy Bird, who formerly led Fredericton-born security intelligence software company Q1 Labs, acquired in 2011 by IBM. The company's technology provides enterprise users with end-to-end data security and compliance across a range of cloud platforms.
5 min read · 15 January 2019
OMERS Ventures (OV) has expanded to the United States with the opening of an office in Silicon Valley. OV, the venture capital arm of the Ontario Municipal Employees Retirement System (OMERS), also said it hired Michael Yang to lead U.S. operations. Yang joins OV from Comcast Ventures, where he served as a managing director. Before then, he was an executive at Yahoo and a principal at Atlas Venture. OV Principal Michelle Killoran will relocate from Toronto to Silicon Valley to provide Yang with additional support. Managing Partner and Head of Ventures Damien Steel, who replaced John Ruffolo last year, said the new office and resources will allow OV to "deploy additional capital to startups in the U.S."
1 min read · 15 January 2019
Canadian private equity firm Ardenton Capital Corp has sold its 50 percent equity stake in Interpro Technical Services Ltd, a Port Coquitlam, British Columbia-based specialist in field maintenance services for critical rotating machinery. Terms weren't released for the deal, which was wrapped up last month. Ardenton's interest was acquired by Interpro CEO Carey Healey. Interpro, acquired in 2010 by Ardenton Founder and CEO James Livingstone and a partner, was the firm's inaugural investment. Ardenton will use the proceeds of the sale to fund new majority acquisitions.
2 min read · 14 January 2019
Canadian private equity firm Onex Corp and Baring Private Equity Asia (BPEA) have agreed to publicly list Clarivate Analytics, a Philadelphia-based owner and operator of subscription-based businesses. Clarivate will list on the New York Stock Exchange as a result of its merger with Churchill Capital Corp. The deal, expected to close in Q2 2019, implies an enterprise value of about US$4.2 billion. Onex and BPEA will retain their equity, which converts to about 74 percent ownership of the combined entity's outstanding shares at closing. Clarivate was launched in 2016 with the US$3.55 billion acquisition by Onex and BPEA of Thomson Reuters' intellectual property and science unit.
5 min read · 14 January 2019
Canadian life sciences venture capital firm AmorChem has made an undisclosed investment to develop new technology focused on short sequences of RNA that direct intracellular traffic. AmorChem invested through an agreement with Univalor, the commercialization arm of the University of Montreal, and researchers with the Montreal Clinical Research Institute and McGill University. The project is intended to create a better understanding of RNA sequencing and help improve treatment options. AmorChem invested through its second seed-stage fund, AmorChem II Fund LP, which is backed by Fondaction CSN, Fonds de solidarité FTQ, Merck and other investors.
4 min read · 14 January 2019
