AvenueHQ, a Vancouver-based real estate marketing software platform, has raised $4.5 million in a seed-stage financing, according to a report by Techvibes. The round was led by VFF with participation from BDC Capital's Women in Technology Fund and Pallasite Ventures, the report said. It will help AvenueHQ continue its growth in the United States. Formerly known as Realty Butler Technology, AvenueHQ was founded in 2014 by CEO Chris Troelstra and COO Rebecca Troelstra to build and maintain websites and manage digital marketing for real estate professionals. The company's other backers include Conconi Growth Partners and TIMIA Capital Corp.
1 min read · 30 May 2018
Apparel retail store operator La Maison Simons Inc announced a $215 million investment for the construction of a multi-service fulfillment centre in Québec City, the company's headquarters. The family-owned Simons said the centre, slated to open in 2020, will help it increase productivity and order fulfillment capacity, both in store and online, allowing the business to remain competitive in the retail market. Caisse de dépôt et placement du Québec and Investissement Québec (IQ) agreed to invest $44 million in the initiative, giving them stakes in Simons. The Caisse will commit $27 million, with IQ accounting for the rest.
8 min read · 30 May 2018
Construction Supply Group (CSG) has acquired Richform Construction Supply, a Vancouver-based distributor of concrete accessories, forming hardware and tilt-up construction systems. No financial terms were released for the deal, which was announced with CSG's acquisition of U.S.-based Williams Equipment & Supply. Richform, founded in 1987, will be combined with Brock White Canada. CSG, a Denver, Colorado-based distributor of specialty construction materials, accessories and tools used mostly by concrete and masonry contractors, has been backed by U.S. private equity firm the Sterling Group since 2016.
2 min read · 30 May 2018
Tradeshift, a San Francisco-based business commerce platform that connects buyers and sellers, has raised US$250 million in a Series E financing. The round was led by Goldman Sachs and Canadian pension fund manager Public Sector Pension Investment Board, and joined by the company's existing backers. Tradeshift said the deal brings its valuation to US$1.1 billion. Founded in 2009, Tradeshift's technology enables supply chain payments and marketplaces for more than 1.5 million businesses worldwide. It will use the funds raised for strategic initiatives, including continued growth in Europe and Asia and investments in emerging technologies.
3 min read · 30 May 2018
The pace of dealmaking in Canada’s private equity market slowed in the first quarter of 2018, with a total of $6.5 billion invested in 137 transactions, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). CVCA found few $100 million-plus deals in this period, apart from the buyout of Husky IMS International Ltd. Deals sized less than $25 million took the largest share of PE activity in Q1 2018, or 61 percent. The industrial and manufacturing sector led trends between January and March, accounting for 21 percent of deals, while the information and communication technology sector captured a 15 percent share.
3 min read · 30 May 2018
Canada’s venture capital market saw year-over-year growth in dollar terms in the first quarter of 2018, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). A total of $690 million was invested in 139 financings in this period, up 6 percent from the $649 million invested in Q1 2017. One key to Q1 2018 results was three rounds of $50 million-plus, which accounted for 34 percent of VC invested. Information and communication technology companies led dealmaking between January and March, capturing $423 million , or 61 percent of the total, while clean technology companies took $132 million, or a 19 percent share.
4 min read · 30 May 2018
MedMen Enterprises Inc, a Los Angeles-based legal cannabis cultivator, producer and retailer, has begun trading on the Canadian Securities Exchange with the completion of a reverse takeover of a Canadian public vehicle. The company raised about $143 million (US$110 million) through a private placement, which implies a valuation of $2.14 billion (US$1.65 billion). Founded in 2010, MedMen owns and operates 18 licensed facilities in California, Nevada and New York. It has secured private equity and venture capital financing, estimated in a Financial Post report to total US$135 million, from a range of investors.
5 min read · 29 May 2018
Greenbriar Capital Corp (TSX-V: GRB), a Vancouver-based developer of renewable energy, sustainable real estate and smart energy products, has raised about $344 million (US$265 million) in financing. The investor was the mezzanine arm of Pegasus Capital Advisors, a U.S. alternative asset manager that invests in the sustainability and wellness sectors. The new money, when combined with a prior investment by Pegasus, brings the total financing to about $410 million (US$315 million). Greenbriar said the funds raised will cover the anticipated cost of the company's Montalva Project, a 100 megawatt AC solar initiative located in Puerto Rico.
2 min read · 29 May 2018
Nxt-ID Inc (Nasdaq: NXTD), a U.S. technology company focused products and services that enable the Internet of Things (IoT), has raised a US$16 million senior secured term loan. The loan's supplier was Sagard Credit Partners (SCP), a Canadian provider of direct credit financing to mid-market companies across North America. Melbourne, Florida-based Nxt-ID said it will use the proceeds to refinance its existing revolving loan facility, provide working capital, and fund capital expenditures, among other priorities. SCP, an affiliate of Power Corp's investment arm Sagard Holdings, earlier this year raised $325 million in the first close of its debut credit fund.
4 min read · 29 May 2018
Tacora Resources, an iron ore mining and processing business backed by U.S. private equity firm Proterra Investment Partners, this week priced its recently filed initial public offering in Canada. The company is seeking to raise $125 million, the updated prospectus shows, an amount that could increase to $144 million if the IPO’s greenshoe option is fully exercised. Tacora will use the proceeds to help finance the restart of the Scully Mine in Wabush, Newfoundland and Labrador, which the company acquired last year.
3 min read · 29 May 2018
