Showpass, a Calgary-based event and ticketing platform, has secured undisclosed mezzanine financing from the Growth and Transition Capital division of BDC Capital. Showpass serves more than 2,000 mid-size event organizers across Canada, including music, film and beer festivals, concerts and conferences, helping them improve mobile ticketing sales, management and tracking. The funds raised will help the company continue expanding its reach in the domestic market, in part by attracting more technical and sales talent to its team. Showpass was founded in 2014 by CEO Lucas McCarthy.
3 min read · 12 March 2018
Agrisoma Biosciences Inc, a Gatineau, Québec-based agricultural technology company, has secured $12 million in a follow-on financing. The round was led by Cycle Capital Management and joined by new investor Desjardins Capital, an affiliate of Canadian financial cooperative Desjardins Group. BDC Capital and Lune Rouge, which along with Cycle backed Agrisoma's $15.4 million Series B round last year, also invested. The funds raised will help Agrisoma expand the global commercialization and production of Carinata, a non-food oilseed crop designed for sustainable production of biofuels used in the aviation industry.
4 min read · 12 March 2018
OPTrust, which invests on behalf of OPSEU Pension Plan, earned an overall net investment return of 9.5 percent in 2017. As a result, assets managed by the Canadian pension fund increased to more than $20 billion at the end of December, compared to about $19 billion in 2016. OPTrust's private equity investments generated a net return of 21.6 percent in 2017, while infrastructure investments accounted for a net return of 11 percent. Last year, PE Hub Canada interviewed OPTrust Managing Director Sandra Bosela, who heads the global private equity group.
3 min read · 12 March 2018
Laborie Medical Technologies Inc has agreed to buy Cogentix Medical Inc (Nasdaq: CGNT), a Minnetonka, Minnesota-based urology-focused medical device company, for about US$239 million. The acquisition, expected to close in Q2 2018, will see Cogentix become a subsidiary of Laborie, a Toronto-based maker of medical diagnostics and devices for the pelvic health and gastroenterology market. Accelmed Growth Partners and Lewis Pell, which together own a 60 percent interest in Cogentix, have agreed to support the deal. Laborie was in 2016 acquired by Patricia Industries, an investment arm of Sweden's Investor AB, from Audax Private Equity.
4 min read · 12 March 2018
LOGiQ Asset Management Inc (TSX: LGQ) has agreed to acquire the issued and outstanding common shares of Toronto-based royalty financing firm Grenville Strategic Royalty Corp (TSX-V: GRC) on the basis of 6.25 shares of LOGiQ for each Grenville share. No financial terms were disclosed for the deal, which will see existing LOGiQ and Grenville shareholders together own about 33 percent and 67 percent of the combined business, respectively. Grenville's Vernon Lobo said the deal will create a "solid financial platform" for supplying alternative financing to high-growth companies. Purpose Investments Inc acquired LOGiQ's retail fund operation last year.
6 min read · 12 March 2018
Venture capital firm EnerTech Capital has formed a strategic partnership with Tokyo Gas Co Ltd, Japan's biggest gas supplier, focused on emerging technologies in the power and gas industry. EnerTech and Tokyo Gas will together explore commercialization strategies within Tokyo Gas as well as deal opportunities available through EnerTech's global network. EnerTech, based in Calgary, Montréal, Toronto and the United States, has backed 71 energy technology companies since 1996. Investing from its $120 million fourth fund (2013), the firm emphasizes opportunities in utility and “behind the meter” grid-edge technologies.
3 min read · 12 March 2018
U.S. technology accelerator Techstars and Canadian early-stage venture capital firm Real Ventures have partnered in the launch of a Montréal artificial intelligence accelerator program. Techstars Montréal AI Accelerator will draw on Montréal's AI capabilities and add to the local ecosystem by supporting startups that advance the development and application of AI technologies across a range of industries. The program, which will begin in September 2018, follows last month's decision by the federal government to fund SCALE.AI Supercluster, a Québec-based strategy for building intelligent supply chains through AI and robotics.
4 min read · 12 March 2018
Canadian private investment firm Legado Capital has acquired Kivuto Solutions Inc, an Ottawa-based provider of academic software, e-texts and other digital resources. No financial terms were disclosed for the deal, which saw Legado partner with a group of investors led by Canadian private equity firm Roynat Equity Partners. Founded in 1997 by Ram Raju to simplify software management and distribution in the higher education sector, Kivuto today distributes its solutions to users in over 195 countries. Legado Managing Partner Carlos Meza said his firm, Roynat and the other partners will support Kivuto's continued global growth.
3 min read · 09 March 2018
Vancouver-based connected car platform Mojio Inc has raised an undisclosed investment from European venture capital firm Iris Capital and Telus Ventures, the strategic venture capital arm of Telus Corp. The investment, which tops up the company’s $30 million Series B financing, closed late last year, will help Mojio accelerate adoption of its connected car solutions for mobile network operators and automotive makers in North America and Europe. Founded in 2012, Mojio’s other backers include Amazon Alexa Fund, BDC Capital, Deutsche Telekom, innogy Ventures, Kensington Capital Partners, Relay Ventures and Trend Forward Capital.
5 min read · 09 March 2018
Toronto-based virtual healthcare platform Maple recently raised $4 million in a Series A financing. The round was led by an unidentified private company with expertise in medical cost containment and joined by MaRS Investment Accelerator Fund, a Canadian early-stage investor, and Jeff Fettes, co-founder of 24-7 Intouch. Founded in 2015 and led by CEO Brett Belchetz, Maple provides an app that gives patients around-the-clock, on-demand access to doctors by secure text or video for advice, diagnosis and prescriptions. It will use the funds raised to grow its network beyond current operations in eight provinces and two territories in Canada.
3 min read · 09 March 2018
