2 min read · 10 October 2018
ArcTern Ventures, a Canadian early-stage venture capital firm focused on the clean technology sector, has initially closed its second fund at C$60 million. ArcTern Ventures Fund II, targeted to raise up to C$150 million, was anchored in its first close with commitments from Ontario Municipal Employees Retirement System and Equinor ASA, formerly Statoil, a Norwegian energy company. Founded in 2012 by Managing Partners Murray McCaig and Tom Rand, ArcTern invests across six core clean technology sub-sectors: renewable energy, energy use and storage, circular economy, advanced manufacturing and materials, mobility, and agri-technology.
4 min read · 09 October 2018
Ivanhoé Cambridge has partnered with Round Hill Capital in the acquisition of 362 residential units in Berlin, Germany for about €75 million ($112 million). The deal is the first of several residential asset and portfolio acquisitions planned jointly by Ivanhoé and Round Hill. The partners will initially focus on Berlin's metropolitan area. Ivanhoé is the real estate investment arm of Caisse de dépôt et placement du Québec. Based in London, Round Hill is a European real estate investment, development and asset management firm.
4 min read · 09 October 2018
Fengate Real Asset Investments has hired Krudo de Jesus as a vice president in the firm's infrastructure division. De Jesus, who served with Fengate in 2013 as an analyst, rejoined the firm from EllisDon Capital, where for more than three years he was an associate director on the infrastructure team. Based in Toronto, Fengate specializes in real asset investing, with a focus on infrastructure, private equity and real estate.
2 min read · 09 October 2018
ArcTern Ventures, a Canadian early-stage venture capital firm focused on the clean technology sector, has initially closed its second fund at $60 million. ArcTern Ventures Fund II, targeted to raise up to $150 million, was anchored in its first close with commitments from Ontario Municipal Employees Retirement System (OMERS) and Equinor ASA, a Norwegian energy company. Founded in 2012 by Managing Partners Murray McCaig and Tom Rand, ArcTern invests across six core clean technology sub-sectors: renewable energy, energy use and storage, circular economy, advanced manufacturing and materials, mobility, and agri-technology. The Toronto-based firm works in partnership with Canadian innovation hub and startup accelerator MaRS Discovery District.
4 min read · 09 October 2018
Waterton Global Resource Management has issued a letter to the board of Hudbay Minerals Inc (TSX, NYSE: HBM), calling for an end to discussions or plans to acquire Mantos Copper SA. Bloomberg reported this week that Hudbay, a Toronto-based mining company, is in talks to buy Chile's Mantos for as much as $1 billion. Waterton, a Canadian mining private equity firm, holds about 4.8 percent of Hudbay's issued and outstanding shares. In the letter, the firm said Hudbay should not be engaging in any "material acquisitions" at this time due to its "current underperformance and discounted valuation."
10 min read · 05 October 2018
Clio has acquired Lexicata, a Los Angeles-based customer relationship management and client intake tool for lawyers. No financial terms were disclosed. Clio, a Vancouver-based legal practice management technology provider, said the deal will enable delivery of a suite of services that streamlines the end-to-end client journey. Lexicata will evolve into a new platform called Clio Grow, launching in 2019. Founded in 2008 by CEO Jack Newton and CPO Rian Gauvreau, Clio is backed by Acton Capital Partners, Bessemer Venture Partners, Point Nine Capital, Version One Ventures and other investors.
4 min read · 05 October 2018
MobSquad, a Calgary-based provider of Canadian engineering talent to Silicon Valley startups, has launched with $11 million in funding. The financing was raised from Canadian mobile venture capital firm Relay Ventures, which incubated the company, as well as Panache Ventures, Mindset Venture Group and others. MobSquad, founded by CEO Irfhan Rawji, a Relay venture partner since 2017, will form teams of software engineers and data scientists in Canada and pair them with U.S. clients on a long-term basis. The strategy will address U.S. skill shortages and at the same time create opportunities for Canada-based talent. MobSquad plans to open additional offices across Canada.
4 min read · 05 October 2018
Sustainable Development Technology Canada (SDTC) has provided $58.6 million in funding to 14 Canadian clean technology companies. The companies, many of them venture-backed, are based in British Columbia, Alberta, Ontario and Québec. The companies are: Clir Renewables, Consolidated Biofuels, Semios and Terramera (B.C.); Ambyint (Alberta); Giatec Scientific, Li-Cycle, Ranovus, VueReal and Yava Alumina (Ontario), and; Boréas Technologies, Carbicrete, Lithion Recycling and Sanexen Environmental Services (Québec).
3 min read · 04 October 2018
Prometheus Group has acquired Solufy Information Technologies Inc, an Ottawa-based provider of planning and scheduling applications for IBM’s Maximo EAM system. Terms weren't disclosed. CEO Mario Boileau and Vice President Gerry Lamarche, who founded Solufy in 2003, will remain with the company. Prometheus, a Raleigh, North Carolina-based provider of plant maintenance operations and optimization software, is a portfolio investment of U.S. private equity firm Francisco Partners. Francisco acquired a majority stake in the company in 2016.
3 min read · 04 October 2018
