Q4 Inc, a Toronto-based provider of cloud-based investor relations (IR) and capital market solutions, has raised close to $50 million (US$38 million) in a Series C financing. The round was led by U.S. private equity firm Napier Park Financial Partners and joined by existing investors, including OpenText Enterprise Apps Fund, Information Venture Partners and Espresso Capital. Founded in 2006 and led by CEO Darrell Heaps, Q4 provides a range of IR solutions, such as analytics, CRM, website, webcasting and professional services, to help customers better communicate with investors. It said the funds raised will be used to further develop the platform, expand global sales and marketing, and pursue acquisitions.
5 min read · 12 September 2018
Finhaven Technology Inc has secured about $6.7 million (US$5.13 million) in a Series A financing. The round was led by Dunamu & Partners, the venture capital arm of South Korea's Dunamu Inc. Lanebury Growth Capital, Medici Leading Enterprise Fund, TheVentures and two individuals also invested. Vancouver-based Finhaven is building an investment banking platform that provides an end-to-end solution for issuing, investing and trading regulatory compliant digital securities. It will use the funds raised for product and business development. Earlier in 2018, Finhaven closed a $1.3 million seed-stage financing with Medici.
3 min read · 12 September 2018
Toronto-based early-stage venture capital firm Ripple Ventures has closed its inaugural fund, raising $10 million in committed capital. Ripple Ventures Fund I was backed by unidentified limited partners in Canada and the United States. Launched this year by Managing Partner Matt Cohen, who will run Fund I alongside General Partner Michael Garbe, Ripple also opened an incubator space called the Tank. Fund I's first investments include Toronto telemedicine platform OnCall Health and Toronto construction technology provider Tread Technologies. The fund will invest in other companies in a range of North American technology sectors.
3 min read · 12 September 2018
Silicon Valley Bank (SVB) has co-led a $100 million senior secured term loan and $25 million senior secured revolver for HLS Therapeutics Inc (TSX-V: HLS), a Toronto-based pharmaceutical company specializing in the central nervous system and cardiovascular markets. The deal will refinance the company's existing debt and provide working capital. Founded in 2015 and led by CEO Greg Gubitz, HLS is focused on acquiring and commercializing late-stage development branded pharmaceutical products in North America. SVB, a U.S. technology financial services firm, established its first branch in Canada earlier this year.
2 min read · 12 September 2018
Integrate.ai, a Toronto-based artificial intelligence software company, has secured about $39.5 million (US$30 million) in a Series A financing. Portag3 Ventures, the investment arm of Power Financial, led the round. It was joined by existing investors Georgian Partners and Real Ventures. As a result, Portag3 Executive Chairman Paul Desmarais III will join the board. Launched last year by CEO Steve Irvine, a former Facebook executive, Integrate.ai's cloud-based machine learning platform helps businesses harness consumer intelligence and engage customers without compromising privacy. Integrate.ai will use the funds raised to expand its operations and client base in the United States.
4 min read · 12 September 2018
CIBC Innovation Banking, the tech-lending arm of CIBC, is pursuing a bold North American scaling strategy, boosting in-house resources and accelerating its deal pace. The activity includes a batch of senior hires. Since launching earlier this year, the group has recruited no fewer than six managing directors, most of them from rivals in the debt space. Mark McQueen, president and executive managing director, says the hires bring fresh talent to CIBC’s tech-lending arm, and extend its reach into Canadian and U.S. tech hubs.
4 min read · 12 September 2018
4 min read · 12 September 2018
Hub International Ltd has acquired Hometown Insurance Brokers, a Vonda, Saskatchewan-based full-service insurance brokerage. Terms weren't disclosed for the deal, which will see business owners Garth Wruck and Denise Wruck join Hub Manitoba. Founded in 1977, Hometown offers personal and commercial insurance solutions, including crop hail insurance. Hub, a Chicago-based full-service insurance company, was bought in 2013 by U.S. private equity firm Hellman & Friedman (H&F) for about US$4.4 billion.
2 min read · 11 September 2018
Ledn Inc, a Toronto cryptoasset-backed lender, has raised $1.55 million in a seed-stage financing. The round was led by Andrew Clark, co-CEO of Spark Power Group Inc, and Someren Capital. As a result, Clark will join the company's advisory board. Founded by CEO Adam Reeds and CSO Mauricio Di Bartolomeo, Ledn's platform allows users to borrow Canadian dollars using Bitcoin as collateral. It plans to launch a new website application this fall. Ledn will use the funds raised to further develop the platform and expand its cryptoasset-backed lending operations in Canada.
3 min read · 11 September 2018
Matica Enterprises Inc, a Toronto-based cannabis company, has secured a draw-down equity facility of up to $20 million from Alumina Partners, a U.S. private equity firm. The facility's proceeds will be used to advance construction of cannabis greenhouses in Québec. Matica is currently building a growing facility that is intended to be part of 1 million square feet of greenhouse capacity on a Hemmingford, Québec property. Matica earlier this year agreed to acquire a 40 percent stake in Yunify Natural Technologies to collaborate on cannabis product development.
3 min read · 11 September 2018
