Ontario Teachers' Pension Plan is finalizing a US$700 million deal with Swiss mining giant Glencore Plc to create a new base-metals royalty vehicle, Bloomberg reported, citing sources. Glencore will bring royalty agreements from about 10 mines, while Ontario Teachers' will contribute about US$350 million to allow the company to buy further royalty streams from other projects, the report said. The partners will each have a 50 percent stake in the new vehicle. The Bloomberg report adds to a report by Reuters in July.
1 min read · 15 November 2017
Sustainable Development Technology Canada (SDTC) has provided about $7.77 million in funding to Inocucor Technologies Inc, a Montréal-based producer of sustainable biological crop inputs. The funds raised will back development of the company's second product, Synergro Free, a bio-fertilizer that increases yields in row crops. They will also support production scale-up and marketing of Synergro Free to farmers, as well as other priorities. Inocucor earlier this year raised a $38.8 million Series B financing led by TPG ART and joined by Cycle Capital Management, Closed Loop Capital and Desjardins Innovatech.
3 min read · 15 November 2017
Cannabis Strategies Acquisition Corp, a Canadian special purpose acquisition corporation (SPAC), has filed an amended and restated preliminary prospectus with most domestic securities regulators for an initial public offering of $125 million of class A restricted voting units. Cannabis Strategies is being sponsored by an affiliate of U.S. family office Mercer Park, led by CEO Jonathan Sandelman. For its qualifying transaction, it will target an acquisition of one or more businesses or assets in the marijuana production, marijuana distribution, and related sectors. It plans to list on the Aequitas NEO Exchange.
6 min read · 15 November 2017
District Ventures Accelerator and District Ventures Capital said they will invest $3 million in 20 early-stage food, beverage and health companies in the consumer packaged goods sector. Beginning in January 2018, 20 successful applicants to the accelerator will receive a $130,000 investment in exchange for a minority equity stake. The applicants, forming cohort 5, will undertake a five-month program to increase brand equity, distribution, sales and valuation. District Ventures' accelerator and fund are led by Arlene Dickinson, a Dragon’s Den star and entrepreneur.
3 min read · 15 November 2017
Rthm Technologies Inc, a Toronto-based mobile health and wellness company, has secured an investment from Canadian consumer venture capital firm District Ventures Capital. No financial terms were released. Founded in 2014 by CEO Alexander Mosa and Anthony Mouchantaf, Rthm has developed a health tracking app that can monitor biometrics, like heart rate and steps, and help users make healthy decisions. The company is positioned to "go to the next level with our strategic investment,” District Ventures Managing Partner Arlene Dickinson said. Rthm is also backed by MaRS Investment Accelerator Fund.
2 min read · 15 November 2017
BDC Capital has added $20 million to its Women in Tech investment program, which now has $70 million to invest in Canadian women-led technology companies over five years. Of the total, $60 million will be invested directly in seed, Series A and Series B financings of companies, while $10 million will go to funds, such as StandUp Ventures Fund I, and related regional initiatives. Since last November, BDC has committed $3 million to nine women-led companies, including team performance platform Nudge Rewards Inc, which this week announced the close of its $5 million Series A round.
4 min read · 15 November 2017
Imagia has acquired Cadens Medical Imaging, a Montréal-based provider of medical imaging software. No financial terms were disclosed for the deal, which was funded by Imagia's Series A round, led by BDC Capital's Healthcare Venture Fund and joined by Fidelity Investments Canada in late 2016. Founded in 2015 by COO Alexandre Le Bouthillier and CSO Nicolas Chapados, and led by CEO Frédéric Francis, Montréal-based Imagia said the deal will accelerate its ability to deliver artificial intelligence-driven personalized healthcare solutions. Cadens was backed by Anges Québec, Desjardins-Innovatech, Fonds de solidarité FTQ and other investors.
4 min read · 15 November 2017
Toronto-based employee performance platform Nudge Rewards Inc has secured $5 million in a Series A financing. U.S. venture capital firm Generation Ventures led the round, giving President Alistair Mitchell a seat on the board. BDC Capital's Women in Tech Fund, Brightspark Ventures, StandUp Ventures and new and existing angel investors also participated. Founded in 2012 by CEO Lindsey Goodchild and CTO Dessy Daskalov, Nudge Rewards provides a mobile solution to improve frontline team performance for retail, food service, and hospitality brands. It will use the funds raised to fuel expansion in select Canadian and U.S. markets.
3 min read · 15 November 2017
Canadian alternative asset manager Brookfield Asset Management has raised US$3 billion ($3.8 billion) in committed capital for its fifth commercial real estate finance fund. Brookfield Real Estate Finance Fund V was backed by 64 limited partners, including pension plans, sovereign wealth funds, financial institutions, endowments, foundations, and family offices. Brookfield committed US$400 million. Like prior funds, Fund V will target mezzanine debt opportunities via the origination of financing for properties chiefly in major U.S. markets. It has already made nine investments involving lending commitments of about US$422 million.
2 min read · 14 November 2017
Calgary-based artificial intelligence startup chata.ai has raised $2.5 million in a seed-stage financing. The investors, described as "local", were not identified. Founded last year, chata.ai's cloud-based software service offers a conversational analytics assistant to help users access, search and analyze business data. The company is targeting opportunities in the accounting industry with a first integration planned with QuickBooks Online. Led by CEO Kelly Cherniwchan, chata.ai will use the seed round's proceeds for commercialization and growth.
2 min read · 14 November 2017
