Montréal-based software modernization company AZUR Group Inc has raised an undisclosed financing led by Mazars Consulting Inc. Desjardins Capital invested in the business as part of the deal, while Investissement Québec (IQ) provided a loan. The funds raised will help accelerate AZUR's growth by supporting its development of custom cloud software, as well as its development and marketing of EFS, a smart treasury management solution. AZUR was founded in 1998 by President and CEO Jean-Louis Lalonde. Desjardins Capital is an affiliate of Canadian financial cooperative Desjardins Group.
4 min read · 29 October 2018
General Fusion, a Vancouver-based fusion energy technology company, has raised $49.3 million from Ottawa's Strategic Innovation Fund. The funds raised will support the company's development of a large-scale prototype plant to demonstrate a practical approach to commercializing electricity from fusion power. Founded in 2002 by CSO Michel Laberge, General Fusion is backed by BDC Capital, Bezos Expeditions, Braemar Energy Ventures, Cenovus Energy, Chrysalix Venture Capital, Entrepreneurs Fund, Khazanah Nasional Berhad, SET Ventures and other investors.
5 min read · 29 October 2018
Canadian long-term private equity firm Altas Partners has agreed to buy U.S. commercial-roofing contractor Tecta America Corp, according to a news release. Terms weren’t released for the deal, which is expected to close in Q4 2018. The seller is ONCAP, the mid-market arm of Canadian PE firm Onex Corp. ONCAP acquired Tecta two years ago for US$280 million from Oaktree Capital Management. Based in Rosemont, Illinois, Tecta was created in 2000 with the merger of 10 roofing companies. It represents Altas Partners’ third platform deal this year and the fifth investment of Altas Partners Holdings LP, which raised US$1 billion in 2016.
2 min read · 29 October 2018
Caisse de dépôt et placement du Québec (CDPQ) has launched Cheffes de file, an initiative intended to help grow women-led companies in Québec. Cheffes de file will operate as a collaboration platform, bringing women entrepreneurs together to share best practices. Additionally, participants will be provided with value-adding resources and information, as well as access to local and global networks of coaches and experts. Cheffes de file will include about 50 women who are decision-makers and shareholders of Québec companies with sales ranging from $5 million to $20 million.
3 min read · 29 October 2018
Taloflow, a Vancouver-based cloud infrastructure management platform, has raised $1.1 million in a pre-seed financing. The round was led by Victory Square Technologies. It was joined by Plug and Play Ventures, David Tedman, co-founder of Hootsuite, Ross Wightman, founding engineer of Avigilon, and Aly Madhavji, founder of Blockchain Founders Fund. Launched in 2017, Taloflow’s software-as-a-service offering helps enterprises improve cloud infrastructure performance and reduce costs. Led by CEO Louis-Victor Jadavji, Taloflow said it was recently accepted into the first batch of the Plug and Play Enterprise 2.0 Startup Accelerator program in Silicon Valley.
4 min read · 29 October 2018
Tricor Pacific Capital, which for nearly two decades operated as a North American private equity investor, has returned to the market as a family office. The new Tricor, led by Managing Partner Rod Senft, who co-founded the PE firm in 1996, was officially unveiled this week. Its goal is to invest Senft family and partner capital in food and industrial businesses, as well as real estate projects. The Vancouver family office comes three years after the former Tricor rebranded its fifth institutional fund, Tricor Pacific Capital Partners Fund V, an event that paved the way for the PE firm's successor, Parallel49 Equity.
3 min read · 28 October 2018
Ironbridge Equity Partners has acquired Canada Metal (Pacific) Ltd (CMP), a Delta, British Columbia-based maker and distributor of products serving the recreational marine, commercial marine and industrial markets. Terms weren't released for the deal, which saw Ironbridge, a Canadian mid-market private equity firm, partner with management led by President John Mitchell. Established in 1908, CMP operates six facilities in Canada, the United States, China, Australia and Italy. Ironbridge Partner Jeffrey Murphy said the company's market position provides "an excellent platform for future growth." Ironbridge is investing through Ironbridge Equity Partners III, which raised $238 million in 2016.
2 min read · 26 October 2018
U.S. private equity firm Charter Oak Equity and Fonds de solidarité FTQ have recapitalized Licaplast Industries Emballages Inc, a Montréal-based vertically-integrated producer of flexible plastic packaging. No financial terms were disclosed. Licaplast, established in 1988 and led by CEO Joseph Nawar, develops and manufactures shrink film, laminated roll stock, pouches, and other products for food and beverage customers in Canada and the United States. Charter Oak Managing Partner Paul Roughan said his firm will support the company's add-on acquisition strategy.
3 min read · 25 October 2018
Vancouver-based biotechnology company Sitka Biopharma has raised $1.9 million from Canadian life sciences venture capital firm Quark Venture and China’s GF Securities Co Ltd. Sitka is developing a nanoparticle platform to increase absorption of drugs in difficult-to-penetrate tissues. It will use the funds raised to complete work in advance of the initial Phase 1 clinical trials of STK-01, a lead product for treating bladder cancer. Founded in 2013 and led by President and CSO Michael Parr, Sitka is a spin off of The Centre for Drug Research and Development and University of British Columbia. It raised seed funding from Quark in 2016.
4 min read · 25 October 2018
Unity Technologies, a San Francisco-based real-time 3D development platform, has agreed to acquire Digital Monarch Media (DMM), a Vancouver-based virtual cinematography company. No financial terms were released for the deal, which includes the proprietary technology DMM built on Unity to develop virtual cinematography for feature filmmaking. DMM CEO Wes Potter and CCO Habib Zargarpour, who founded the company in 2014, will join Unity’s film group. Launched in 2003, Unity is backed by Draper Fisher Jurveston, Sequoia Capital, Silver Lake Partners and other investors.
4 min read · 25 October 2018
