Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has wrapped up its initial public offering on the Nasdaq Global Market. The company raised an additional $22 million (US$17.9 million) in proceeds from the offering's greenshoe option, bringing total proceeds to about $174 million (US$137.9 million). Its shares began trading on Nasdaq earlier this month under the symbol "CMTA". Founded in 2010, Clementia has been backed by BDC Capital, Fonds de solidarité FTQ, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
2 min read · 22 August 2017
Isodiol International Inc has raised a convertible debenture financing of $25 million from Alumnia Partners, a U.S. private equity firm. Based in Vancouver, Isodiol is a developer of pharmaceutical and nutraceutical grade cannabis compounds and maker of cannabis consumer products. Its products include hemp-derived skin care applications. Isodiol will use the funds raised to continue expansion into Latin American, Asian and European markets and pursue strategic acquisitions. The company is led by CEO Marcos Agramont.
2 min read · 22 August 2017
Helios Wire, a Vancouver developer of a satellite-based Internet of Things (IoT) system, has secured about $5 million (US$4 million) in funding. The round's investors were not disclosed. Founded in 2016, Helios Wire is building a satellite-enabled monitoring and messaging service designed for market applications requiring low bandwidth and low service costs. Scott Larson, the startup's CEO and co-founder, said the goal is to ensure that "companies and organizations, regardless of size, are able to participate in the enabling technologies of IoT, particularly in the industrial sectors." The funds raised will support the launch of the first two satellites.
3 min read · 22 August 2017
Canadian private equity firm A5 Capital has acquired Shift Marketing Studio Inc, a London, Ontario-based provider of digital loyalty and conquest marketing programs to auto dealerships. No financial terms were released. The announcement was made by U.S. mid-market investment bank Woodbridge International LLC, which represented Shift Marketing in the deal. Founded in 2010, Shift Marketing helps dealerships engage potential customers through discounts and promotional offers for pre-negotiated deals. It is led by CEO David Briand. Pickering, Ontario's A5 Capital is focused on acquiring growing companies with more than $1 million of EBITDA.
1 min read · 21 August 2017
Telus International has acquired Voxpro, a Cork, Ireland-based provider of outsourced multilingual customer service, technical support and sales operations solutions. No financial terms were disclosed. Telus International, a business process and IT outsourcing company, said the deal enhances its offering and expands its geographic footprint. Telus International is the global arm of Canada's Telus Corp (TSX: T, NYSE: TU), a telecommunications provider. Last year, Telus sold a 35 percent interest in the affiliate to Baring Private Equity Asia for $600 million.
4 min read · 21 August 2017
U.S. private equity firm AEA Investors has partnered with Ontario Teachers’ Pension Plan in the recapitalization of Traeger Pellet Grills LLC, a Salt Lake City, Utah-based designer, maker and marketer of wood-pellet grilling and outdoor cooking products. U.S. private equity firm Trilantic North America, which initially invested in Traeger Grills in 2013, and CEO Jeremy Andrus will re-invest in the deal, the financial terms of which were not disclosed. As a result of the recapitalization, AEA will become the company's new majority shareholder. Traeger Grills was established in 1990.
5 min read · 21 August 2017
U.S. private equity firm Warburg Pincus has agreed to make an investment in eSentire Inc, a Cambridge, Ontario-based managed detection and response services provider. No financial terms were released for the deal, which is expected to close in September. It will accelerate eSentire’s next growth phase by expanding cybersecurity services to existing clients and outreach to new clients. The deal will also provide liquidity to eSentire's existing investors. The latter include Edison Partners and Georgian Partners, which led the company's US$19.5 million financing last year, as well as Cisco Investments, Northleaf Capital Partners and Information Venture Partners.
4 min read · 21 August 2017
AreaOne Farms wrapped up its third farmland private equity fund, raising $130 million thanks to institutional investors seeking initial access to agricultural assets. AreaOne Farms Fund III exceeded by 30 percent its $100 million target in a close last month, Joelle Faulkner, president and chief executive of AreaOne, told PE Hub Canada. The fund secured 4x the combined total raised by its two predecessors over 2013-2014. The Toronto firm achieved this by signing up more limited partners, including first-time institutional backers.
3 min read · 21 August 2017
Immersv Inc, a U.S. interactive advertising platform, has raised US$10.5 million in a Series A financing. The round was led by Rogers Venture Partners (RVP), the venture capital arm of Canadian communications and media business Rogers Communications Inc. It was joined by Foundation Capital, The Venture Reality Fund, Initial Capital, East Ventures, HTC Vive and GREE, among other investors. With the round, RVP General Partner Paul Sestili joined the board. Founded in 2015, Emeryville, California's Immersv has developed technology that helps advertisers connect with consumers through interactive mobile 360 and virtual reality.
3 min read · 18 August 2017
Sunil Sharma has joined Techstars as managing director of the U.S. technology accelerator’s new program in Toronto. Earlier in 2017, Boulder, Colorado-based Techstars agreed to partner with Real Ventures in establishing a permanent presence in Toronto, giving the firm access to startup opportunities in the Toronto-Waterloo corridor. Sharma joins the organization from Extreme Venture Partners (EVP), a Canadian early-stage venture capital firm, where he served as managing partner of the accelerator program. Techstars Toronto's first class will run in 2018.
3 min read · 18 August 2017
