4 min read · 03 May 2018
Canada’s venture industry is entering a new evolutionary phase as leading firms unveil big, bold plans for scaling brands, taking on new challenges, and filling market gaps. INovia Capital, a 10-year investor in North American tech companies, provides the latest and perhaps most ambitious example of the trend. Last month iNovia said it would blend its longstanding early-stage focus with an ability to do growth-equity deals, an initiative reportedly allied with a major US$500 million ($640 million) fund launch.
4 min read · 03 May 2018
Certn, a Victoria, British Columbia-based background check platform, has raised a seed-stage financing. No financial terms were disclosed; however, Betakit said the round's value is $975,000. Atrium Ventures, Panache Ventures, Hello Ventures, iNovia Capital and a number of angel investors were among the backers. Launched in 2016 by Andrew McLeod, Evan Dalton and Owen Madrick, Certn's technology uses available data and artificial intelligence to allow lenders, property managers and employers to more fully evaluate the credibility of applicants. It plans to use the funds raised to enhance its platform and support growth.
4 min read · 03 May 2018
Lynx Equity has acquired Flooring Solutions Inc, a commercial flooring contractor based in Livermore, California. No financial terms were disclosed. Flooring Solutions provides a range of flooring products, including carpeting, wood flooring, non-slip flooring and specialty surfaces to regional customers. President Rick Elfman, who co-founded Flooring Solutions in 1990, will remain for at least two years. Lynx, a Canadian private equity firm, said the deal introduces a third flooring business to its portfolio. In 2016, PE Hub Canada profiled Brad Nathan, the Toronto investor’s founder and president.
3 min read · 03 May 2018
Salesforce Ventures, the venture capital arm of U.S. technology giant Salesforce (NYSE: CRM), has launched the Canada Trailblazer Fund, a US$100 million ($128 million) fund to invest in startups and fuel cloud innovation and customer success in Canada. The fund has so far backed four technology companies. They are: Tier1CRM, a provider of cloud-based CRM solutions for the capital markets industry; Traction Guest, a developer of cloud-based visitor management systems; Tulip, a mobile application provider focused on empowering retail workers, and; OSF Commerce, a digital cloud transformation specialist focused on building multi-cloud and unified commerce projects.
5 min read · 03 May 2018
Stingray Digital Group Inc (TSX: RAY.A-.B) has agreed to acquire Newfoundland Capital Corp Ltd (NCC), the Dartmouth, Nova Scotia-based owner and operator of Newcap Radio. Stingray agreed to pay about $506 million, including debt. Members of the Steele Family, accounting for about 87 percent of NCC's outstanding shares, agreed to support the deal. Canadian pension fund manager Caisse de dépot et placement du Québec agreed to contribute $40 million to the funding. Stingray, a Montréal-based entertainment content provider and broadcaster that went public in 2015, said the acquisition will expand its operations into radio broadcasting.
10 min read · 02 May 2018
Orion Mine Finance has agreed to invest about $58 million (US$45 million) in Leagold Mining Corp (TSX: LMC), a Vancouver-based company focused on mid-tier gold production opportunities in Latin America. The proceeds are intended to support Leagold's acquisition of Brio Gold Inc, a Toronto-based mining company with gold-producing, development and exploration-stage properties in Brazil. The buy, announced earlier this year, implies an equity value for Brio of $314 million. Orion, a U.S. mining private equity firm, is expected to retain a 16 percent interest in Leagold with the deal's close.
5 min read · 02 May 2018
Great Canadian Gaming Corp (TSX: GC) and Canadian private equity firm Clairvest Group have closed their acquisition of casino assets in the West Toronto region. Terms weren't disclosed at the time of the deal's announcement in December; however, with the close the investors released a purchase price of about $134 million. Great Canadian and Clairvest own a respective 55 percent and 45 percent interest in a partnership that will run, modernize and further develop the facilities. The partnership entered into a five-year credit agreement to fund 65 percent of the acquisition and provide financing for an initial capital development program.
3 min read · 02 May 2018
Raven Telemetry, an artificial intelligence company focused on the manufacturing sector, has secured $6.1 million from a group of angel investors. Fresh Founders, including Shopify’s Tobi Lütke and Harley Finkelstein, joined the round alongside former Stackpole CEO Rob Lander, former TripAdvisor executive Luc Levesque, former Cognos CEO Rob Ashe, Jacket River and HBS Angel Investors. Ottawa-based Raven uses mobile hardware, software and cloud-based analytics driven by AI to improve plant efficiency. It was founded in 2013 by CEO Martin Cloake, President Andrew Blanchard and Head of Data Science Braden Stenning.
3 min read · 02 May 2018
Collaborative cloud robotics platform C2RO Cloud Robotics Inc has secured about $1.4 million (US$1.1 million) in a seed-stage financing. U.S. venture capital firm Harbor Street Ventures led the round and was joined by TandemLaunch Ventures, which helped create C2RO, as well as Fonds InnovExport and several Canadian, U.S. and European angel investors. Founded in 2016, C2RO uses cloud-based artificial intelligence services to boost cognitive and collaborative capabilities of service robots with an internet connection. Led by President and CEO Riccardo Badalone, the Montréal-based startup will use the funds raised to accelerate commercialization of its enterprise solutions.
4 min read · 02 May 2018
