Ulula, a software and analytics platform that helps enterprises monitor human rights risks, has secured $1 million in seed-stage financing. The round was backed by Humanity United, an affiliate of U.S. philanthropic investment firm Omidyar Group and Canadian boutique impact investment firm Good & Well. Based in Toronto and New York, Ulula was founded in 2013 by CEO Antoine Heuty and CTO Manu Kabahizi. The company plans to use the funds raised to expand its mobile platform and support its objective of improving labour conditions in global supply chains.
3 min read · 10 January 2018
Pinnacle Renewable Energy Group, an industrial-wood-pellet maker and distributor, this week priced its recently filed initial public offering in Canada. The Richmond, British Columbia, company is seeking to raise $175 million by selling common shares at $13 to $15 per unit, the updated prospectus shows. The issue’s greenshoe option, if fully exercised, would bring the total raised to more than $200 million. Pinnacle has been majority owned by ONCAP, the mid-market private equity arm of Onex Corp, since 2011. Its IPO is 2018’s first in Canada backed by a PE firm. PE and venture capital firms looking to monetize their investments played a key role in the domestic IPO market last year, raising a combined $2.3 billion.
2 min read · 10 January 2018
Laval, Québec-based medical technology company Ergoresearch Ltd (TSX-V: ERG) has agreed to be taken private by management shareholders Sylvain Boucher and Danielle Boucher in partnership with Walter Capital Partners, a Canadian private equity firm. The management shareholders, who currently hold a 24.3 percent interest in the company, will with Walter Capital pay $0.30 per unit in cash. Founded in 1998, Ergoresearch designs and makes technology for intelligent orthotics, medical devices and software in the orthopedic industry. It elected to partner with the newly recapitalized Walter Capital following a strategic review process.
6 min read · 10 January 2018
Canadian venture capital firm Pangaea Ventures has started tracking and reporting on the impact of its portfolio of advanced-materials companies. The firm is measuring impact across four categories: carbon dixoide reduction, fresh water produced or saved, food production increased, and lives impacted. It will produce an estimated cumulative impact of the portfolio by the end of 2025. General Partner Chris Erickson, who founded Pangaea in 2000, said tracking and reporting on the sustainability and social impact of the firm's portfolio is "the next logical step to maintain a leadership position.”
2 min read · 09 January 2018
Acuva Technologies Inc, a Vancouver-based point-of-use water purification systems provider, has raised $2.6 million in a Series A financing. The round was backed by a group of Canadian angel investors. Founded in 2014 by President and CEO Manoj Singh, Acuva has developed a new system of microbial water purification using ultraviolet light-emitting diode technology created at the University of British Columbia. Previously backed by BDC Capital, UBC Seed Fund and other investors, the company will use the latest round's proceeds to ramp up manufacturing capacity and launch new products into the appliance market with global partners in 2018.
3 min read · 09 January 2018
Canada Pension Plan Investment Board has partnered with U.S. real estate investment firm Cortland Partners and Singapore sovereign wealth fund GIC in a joint venture targeting US$500 million to U.S. multifamily real estate investments. CPPIB and GIC will each own a 45 percent interest in the joint venture, with Cortland holding 10 percent. The joint venture has initially acquired three Class B garden-style rental communities in Denver, Colorado, Raleigh, North Carolina and Austin, Texas. It will pursue additional opportunities primarily in the Southern and Southeastern United States.
4 min read · 09 January 2018
Adapsyn Bioscience Inc, a Hamilton, Ontario biotechnology company focused on natural-product drug candidates, has wrapped up an undisclosed round of financing. The deal was co-funded by Pfizer R&D Innovate, an affiliate of U.S. pharmaceutical giant Pfizer Inc, and Genesys Capital, a Canadian life sciences venture capital firm. Genesys Managing Director Kelly Holman currently sits on the board. Adapsyn also announced it is partnering with Pfizer to identify and test undiscovered natural products, or organic biomolecules produced by nature, from Pfizer's microbial strains. Adapsyn was founded in 2016 by CSO Nathan Magarvey.
3 min read · 09 January 2018
Kitchener, Ontario digital workplace solutions provider Igloo Software has raised about $60 million (US$47 million) from U.S. growth equity firm Frontier Capital. With the deal, Frontier's Andrew Lindner, Dave Pandullo and Bob Froetscher will join the board. Founded in 2008 by CEO Dan Latendre, Igloo supports enterprises in their move beyond a traditional intranet to a digital destination that creates more productive and engaged workforces. It will use the funds raised to build sales and marketing, expand distribution channels, and accelerate its North American footprint. Igloo is also backed by Canadian venture capital firm Information Venture Partners and others.
3 min read · 09 January 2018
Globalive Technology Partners (GTP), a Canadian operating and investment platform that develops software and hardware stacks to commercialize machine intelligence and blockchain technology, has been launched by Globalive Capital, the founders of Mundo Inc and VRG Capital. GTP, which will partner with companies to roll out new technologies in a range of industries, will be led by Anthony Lacavera, founder of Wind Mobile and head of Globalive Capital. Its first partnership is with VIDL, a news technology company formed by media executives. GTP plans to raise an initial $10 million in seed-stage financing and undertake a public offering in mid-2018.
3 min read · 09 January 2018
U.S. private equity firm GI Partners has acquired the Ericsson ICT Data Center in Montréal from Swedish networking and telecommunications company Ericsson AB (Nasdaq: ERIC). No financial terms were disclosed. The facility, completed in December 2016, comprises 215,000 square feet of turnkey data centre and shell space to support growth. It is designed to expand to more than 50 megawatts of primary power. GI Partners said the acquisition brings total properties managed in the firm's data centre portfolio to 21.
2 min read · 09 January 2018
