Kirk Falconer

Walter Capital taps Dundee Sarea’s Sam Ramadori as managing partner

Walter Capital Partners has hired Sam Ramadori as a managing partner, according to a news release. Ramadori joins the firm from Dundee Sarea, a mid-market special-situations investor launched in 2015. Ramadori was one of Dundee Sarea’s managing partners. Previously, Ramadori spent nearly eight years as a vice president in the private equity group of Brookfield Asset Management. Montréal-based Walter Capital was established three years ago by its parent, family office Walter Group of Cos, to invest in the growth strategies of small and midsized companies in a range of industries in Canada. Last December, Walter Group doubled its commitment to the firm to $200 million.

OMERS Private Equity to acquire Paradigm Outcomes

OMERS Private Equity (OPE) has agreed to acquire Paradigm Outcomes, a Walnut Creek, California-based provider of catastrophic and complex case management. Terms weren't disclosed. The seller is U.S. private equity firm Summit Partners, which acquired Paradigm in 2015 from Lightyear Capital. Summit will continue to invest in the company. Established in 1991, Paradigm provides management services to the U.S. workers’ compensation industry, helping to improve health outcomes and lower overall costs. OPE is the private equity arm of the Ontario Municipal Employees Retirement System (OMERS).

Expeto Wireless raises $4 mln in Lavrock-led Series A round

Expeto Wireless Inc has secured close to $4 million in a Series A financing. The round was led by U.S. venture capital firm Lavrock Ventures with participation from existing Canadian investors Evok Innovations and Mistral Venture Partners. Based in Victoria, British Columbia and San Francisco, Expeto's platform helps businesses manage internet-of-things deployments over 4G-LTE networks while maintaining their security protocols. Founded in 2015, the company is led by CEO Ryley MacKenzie. The funds raised will be used by Expeto to expand engagements with natural resource companies and further develop its partnerships with cellular providers.

Northleaf Capital Partners raises $2.2 bln for global PE strategy

Northleaf Capital Partners has secured US$2.2 billion in new commitments for its global private equity program. The capital was raised for Northleaf Private Equity Investors VII (NPE VII), Northleaf Secondary Partners II (NSP II) and several separately managed accounts. NSP II, the firm's second secondaries fund, was closed above target at US$800 million. NPE VII remains open to new investors until early 2019. Northleaf's strategy combines mid-market fund investments with secondary deals and direct minority investments and co-investments. The Toronto-based firm now manages over US$11 billion in private equity, private credit and infrastructure commitments on behalf of institutional investors in North America and Europe.

Australis Capital looks to buy VC-backed Rthm Technologies

Australis Capital, a U.S. investor in the cannabis industry, has made a non-binding proposal to acquire Rthm Technologies Inc, a Toronto-based mobile health and fitness app. Australis proposes to buy Rthm for $1 million in cash plus common share issues, subject to several conditions. Rthm CEO Alexander Mosa said his company's app addresses the "burden placed on consumers and patients to navigate a variety of cannabis products with divergent biological effects," which he called the "chief shortcoming" of the industry. Founded in 2014, Rthm was backed last year by Canadian consumer venture capital firm District Ventures Capital.

PhoenixMD secures $2.7 mln to advance cancer treatment

Vancouver-based biotechnology company Phoenix Molecular Designs (Phoenix MD) has raised $2.7 million in financing. The round included $2 million of equity, led by Canadian venture capital firm Pallasite Ventures with participation from new and existing angel investors, and about $670,000 in non-dilutive capital. As a result, Pallasite Managing Partner Chris Bissonnette joined the board. Founded in 2012 by CEO Sandra Dunn, Phoenix MD is developing small molecule kinase inhibitors as a targeted therapy for cancer, with a focus on triple-negative breast cancer. It will use the funds raised to advance its lead asset, PMD-026, a disease-modifying therapeutic treatment.

CI Capital-backed Impact Group buys ad-tech startup Cluep

Impact Group, a U.S. grocery sales and marketing agency, has acquired Cluep, a Toronto-based artificial intelligence-enabled mobile advertising platform. No financial terms were disclosed. Founded in 2012 by CEO Karan Walia, CTO Anton Mamonov and Ad Ops Director Sobi Walia, Cluep helps brands connect with consumers by serving targeted advertising based on social media activity. It will continue operating under the Cluep brand. Impact Group said the acquisition will bring digital resources to clients in the grocery industry. Boise, Idaho-based Impact Group was acquired in 2016 by U.S. private equity firm CI Capital Partners.

Remote camera platform Brizi seeded with $2.5 mln by 2EP

Brizi Inc, a Toronto-based remote-control camera systems developer, has raised $2.5 million in seed-stage financing led by U.S. investor 2EP. Founded in 2016 by CEO Anna Hu and CTO Sami Dalati, Brizi's technology helps users tap into nearby cameras to capture group images at sports events and landmarks. The platform also provides brands with new sponsorship opportunities and access to data and analytics. Brizi will use the seed round's proceeds for research and development and market expansion.

Seed River invests in industrial 3D printing startup AON3D

U.S. angel investment firm Seed River has provided undisclosed financing to AON3D, a Montréal-based industrial 3D printing specialist. Led by CEO Kevin Han, who helped found the company in 2015, AON3D is developing tools for making 3D manufacturing with plastics easier and more affordable. The startup, which has previously been backed by Off the Grid Ventures, Prototype Capital and other investors, will use the partnership with Seed River to support its long-term growth initiatives.

DarwinAI emerges from stealth with $3 mln in seed financing

DarwinAI, a Waterloo-based artificial intelligence (AI) company, has emerged from stealth and closed a $3 million seed-stage financing. The round was led by U.S. venture capital firm Obvious Ventures and Canadian firm iNovia Capital. They were joined by angel investors from Creative Destruction Lab. Founded last year by University of Waterloo alumni, including Chief Scientist Alexander Wong and CEO Sheldon Fernandez, co-founder of Infusion, DarwinAI's platform uses AI to reduce the complexity in designing and building deep neural networks for real-world applications. DarwinAI said it will use the funds raised to bring its technology to market.