InstarAGF Asset Management has acquired a majority ownership interest in Skyservice Investments Inc, a Canadian provider of business aviation services operating in facilities in Toronto, Montréal, Calgary and Ottawa. No financial terms were disclosed. The seller was Fulcrum Capital Partners, which invested in Skyservice in 2012.
3 min read · 18 September 2017
Vancouver biotechnology company Aspect Biosystems Ltd has completed its first institutional financing. The round, the value of which was not disclosed, was led by Canadian venture capital firm Pangaea Ventures and joined by Endure Capital, Pallasite Ventures and Relentless Pursuit Partners, as well as other new and existing investors. Founded in 2013, Aspect is a developer of 3D bio-printing and tissue engineering technologies. Led by President and CEO Tamer Mohamed, the company plans to use the funds raised to back continued product development, expand its strategic partnerships, and commercialize its platform technology, Lab-on-a-Printer.
3 min read · 18 September 2017
Canadian private equity firm Fulcrum Capital Partners has sold its ownership interest in Skyservice Investments Inc, a Canadian provider of business aviation services. The exit resulted from Skyservice's acquisition by InstarAGF Asset Management, announced today. Founded in 1986, Skyservice in late 2012 secured a $22 million investment from Fulcrum, which facilitated a management buyout. Since then, the company experienced "substantial" growth through expansion of services and operations in existing and new locations, Fulcrum said. Vancouver-based Fulcrum is currently investing from Fulcrum Capital Partners V, which raised $344 million in 2015.
3 min read · 18 September 2017
InstarAGF Asset Management has acquired a majority ownership interest in Skyservice Investments Inc, a Canadian provider of business aviation services operating in facilities in Toronto, Montréal, Calgary and Ottawa. No financial terms were disclosed. The seller was Fulcrum Capital Partners, which invested in Skyservice in 2012. InstarAGF, which two years ago acquired a stake in Billy Bishop Toronto City Airport, said it will partner with management to "augment the company’s value proposition and growth opportunities." Toronto-based InstarAGF invested via its InstarAGF Essential Infrastructure Fund, which raised $740 million earlier in 2017.
3 min read · 18 September 2017
Canadian biotechnology startup Ovensa Inc has secured $1.38 million in follow-on financing. The round was backed by 22 members of angel organization Anges Québec, the affiliated Anges Québec Capital, and Aligo Innovation, a university research commercialization company. Founded in 2012, Aurora, Ontario's Ovensa develops technology with mucosal and brain-barrier crossing properties that can deliver medication to hard-to-reach parts of the body. It is mainly focused on oncology. Led by President and CEO Stéphane Gagné, the company plans to use the funds raised to further develop its platform.
4 min read · 15 September 2017
Opportunities NB, a New Brunswick crown corporation, has launched two side-car funds to support early-stage companies located in the province. Opportunities NB will sponsor a seed fund that can invest up to $500,000 in a startup. A maximum of $2 million is available per year from the fund. Additionally, it will sponsor a Series A fund that can invest up to $1 million in a company emerging from the startup phase or about to generate revenue. A maximum of $5 million per year is available. The side-car funds will partner with approved investors, among them East Valley Ventures, an Atlantic Canada startup accelerator and angel group.
3 min read · 15 September 2017
Dane Creek Capital Corp (DCCC) has closed investments in three Canadian frozen raw pet food manufacturers. DCCC, a Canadian merchant bank investor in the pet industry, acquired 100 percent of Mountain Dog Enterprises Inc of Edmonton, 49 percent of Totally Raw Natural Dog Food Inc of Dartmouth, Nova Scotia, and 40 percent of an unidentified company located in southern Ontario. No financial terms were disclosed. DCCC said the combined deals give it a leading position in the "rapidly growing" frozen raw category in Canada. It plans to make more related investments across North America in the months ahead.
4 min read · 15 September 2017
Posera Ltd (TSX: PAY), a portfolio company of Sigma Capital Partners, has sold its FingerPrints point-of-sale system to Sicom Systems Inc, a Doylestown, Pennsylvania provider of end-to-end solutions for quick service and fast casual restaurants. Posera sold the system, used by more than 1,100 restaurants in Canada, for $12.2 million. Posera, a London, Ontario-based provider of hospitality technology, said the divestiture will allow it to focus on its core products. Sigma, a U.S. technology private equity firm, invested in the company in 2014.
3 min read · 15 September 2017
Healthcare of Ontario Pension Plan has formed a strategic partnership with CIFC LLC, a U.S. private debt manager specializing in U.S. corporate and structured credit strategies. HOOPP has committed a “substantial” undisclosed amount to a new risk retention vehicle, CIFC CLO Strategic Partners II (CMOA II), which will purchase the majority equity positions of CIFC’s new issue collateralized loan obligations. CIFC has committed $75 million. CMOA II is expected to support about $7.5 billion of the firm’s incremental new issuance over the next several years. Toronto-based HOOPP oversees more than $70 billion in assets.
3 min read · 14 September 2017
Healthcare of Ontario Pension Plan (HOOPP) has formed a strategic partnership with CIFC LLC, a U.S. private debt manager specializing in U.S. corporate and structured credit strategies. HOOPP has committed a "substantial" undisclosed amount to a new risk retention vehicle, CIFC CLO Strategic Partners II (CMOA II), which will purchase the majority equity positions of CIFC’s new issue collateralized loan obligations. CIFC has committed US$75 million. CMOA II is expected to support about US$7.5 billion of the firm's incremental new issuance over the next several years. Toronto-based HOOPP oversees more than $70 billion in assets.
3 min read · 14 September 2017
