3 min read · 02 August 2018
Information Venture Partners is seeing a lucrative payday with the US$1.55 billion sale of a Silicon Valley business-planning software provider. Adaptive Insights, backed by Information VP for more than a decade, was sold this week to Workday. The deal gave the Toronto venture firm about 10x its investment, a person with knowledge of the matter told PE Hub Canada. Information VP declined comment. Adaptive is one of several major liquidity events Information VP completed in recent months.
3 min read · 02 August 2018
Angiochem Inc, a Montréal-based clinical-stage biotechnology company, has secured $7.5 million in a Series C financing. The round's investors were not disclosed. Angiochem has previously raised financing from BDC Capital's Healthcare Venture Fund, the life sciences group of Vimac Ventures, and other sources. Angiochem said the funds raised will be used to support development of ANG1005. The compound is intended to treat leptomeningeal carcinomatosis from breast cancer, for which there are no therapeutic options at present. Founded in 2003, Angiochem is developing a product pipeline for the treatment of a range of central nervous system diseases.
2 min read · 01 August 2018
The New Brunswick government has committed $10 million to Build Ventures Fund II, the second early-stage technology fund of Canadian venture capital firm Build Ventures. Halifax-based Build, which targets opportunities in clean technology, life sciences, information technology and other high-growth sectors in Atlantic Canada, raised $65 million for Build Ventures Fund I in 2013. Fund I invested in five New Brunswick companies, including Fredericton-based agricultural predictive analytics provider Resson, which closed a $14 million Series C financing earlier this year. Build is led by General Partners Patrick Keefe and Rob Barbara.
2 min read · 01 August 2018
Canadian private equity firm CAI Capital Partners has invested in Custom Air Conditioning Ltd, a Port Coquitlam, British Columbia-based mechanical services provider. No financial terms were disclosed for the deal. It will see Peter Harteveld, CustomAir’s co-founder and CEO, retain an equity interest and continue to lead the business. Custom Air provides repair, maintenance and installation services for a range of equipment, including heating, ventilation, air conditioning, refrigeration, plumbing and boilers, to industrial, commercial and multi-family residential customers. Its strategy is to become the leading mechanical services provider in Western Canada, Custom Air and CAI said.
3 min read · 01 August 2018
Profound Medical Corp (TSX: PRN), a Toronto-based medical device company focused on treatments for prostate cancer and other diseases, has raised an $18.75 million term loan from CIBC Innovation Banking. Arun Menawat, Profound’s CEO, said the deal will allow the company to consolidate debt and increase working capital to support growth. Earlier this year, Profound closed a $34.5 million bought deal financing that included an investment from its founding shareholder, Canadian life sciences venture capital firm Genesys Capital. The company is also backed by BDC Capital's Healthcare Venture Fund. CIBC Innovation Banking launched in January with CIBC’s acquisition of Canadian specialty finance firm Wellington Financial.
3 min read · 01 August 2018
New Zealand accounting software company Xero has agreed to acquire Hubdoc, a Toronto-based data capture solution that helps accountants, bookkeepers and small businesses streamline administrative tasks. The cash-and-stock deal is valued at about $91 million (US$70 million). Hubdoc, founded in 2011 by co-CEOs Jamie McDonald and Jamie Shulman, serves customers in North America, the United Kingdom and Australia. It will continue to operate on a standalone basis, led by existing managers. Hubdoc last year raised about $6.4 million in a seed-stage financing led by BDC Capital and Round13 Capital and joined by Hyde Park Venture Partners and other investors.
4 min read · 01 August 2018
Aspenleaf Energy Ltd has acquired NEP Canada ULC, a Calgary-based light oil producer with operations in the Leduc-Woodbend region. Terms weren't disclosed. Aspenleaf, a Calgary-based oil and gas company, said the deal combines two central Alberta assets that are geographically and geologically complementary, creating an "opportunity rich, high netback, light oil based entity." Aspenleaf funded most of the acquisition with new and previously committed equity from existing investors. The company is backed by Canadian energy private equity firm ARC Financial Corp and Ontario Teachers’ Pension Plan (OTPP). NEP Canada has been backed since 2010 by U.S. energy private equity firm Kayne Anderson Energy Funds.
3 min read · 31 July 2018
Resource Label Group LLC has acquired Ingenious Packaging Group LLC, a Toronto-based provider of labelling solutions to the food, beverage, health and beauty, spirits, nutraceutical, distribution, tobacco and pharmaceutical industries. No financial terms were disclosed. Ingenious is the former Canadian affiliate of U.S.-based Tapp Label Co, which was reportedly acquired earlier this year. Resource Label, a Franklin, Tennessee-based pressure-sensitive label manufacturing company, is backed by U.S. private equity firm First Atlantic Capital and the growth fund of U.S. firm TPG. First Atlantic initially invested in 2011, while TPG invested in May.
4 min read · 31 July 2018
Canadian private equity firm Beringer Capital has hired Adam Greco as an analytics advisor to the firm's Digital Experience Fund. Greco is an Adobe Analytics expert and author of the Adobe SiteCatalyst Handbook. He has served in executive roles at Omniture and Salesforce.com and is currently a senior partner at Analytics Demystified. The Digital Experience Fund invests in technology-intensive companies that serve advertising and marketing brands. Earlier this month, Toronto-based Beringer sold shopper marketing solutions provider Match Marketing Group Inc to U.S. private equity firm Southfield Capital.
2 min read · 31 July 2018
