The Public Sector Pension Investment Board (PSP Investments) reported its net assets under management hit $135.6 billion at the end of fiscal year 2017, up 16.1 percent from $116.8 billion the year before. The Canadian pension fund's one-year portfolio net return was 12.8 percent, outperforming the policy portfolio benchmark. PSP's private equity assets totaled $15.9 billion as of March 31, 2017, and showed a one-year return of -3.4 percent. In the same period, infrastructure assets totaled $11.1 billion and showed a 14.4 percent return. PSP has been led by President and CEO André Bourbonnais since 2015.
8 min read · 16 June 2017
Canada’s venture capital market saw its second-best quarter in four years in Q1 2017, with $905 million invested in 98 financing rounds, according to a report from the Canadian Venture Capital and Private Equity Association (CVCA). Well-capitalized rounds, especially in the life sciences sector, drove trends, with the top 10 deals accounting for 68 percent of the total invested. Deal-making in Canada's private equity market, in contrast, continued at a sluggish pace in the first quarter. The report counted 108 transactions valued at $2.8 billion in this period. The consumer and retail industry accounted for the lion's share of dollar flows, or $1.3 billion.
4 min read · 16 June 2017
Calgary oil and gas producer Vermilion Energy Inc (TSX, NYSE: VET) has appointed Stephen Larke to its board of directors. Larke is an operating partner and advisory board member at Azimuth Capital Management, a Canadian energy private equity firm. Prior to joining Azimuth, formerly known as KERN Partners, he was a managing director and executive committee member with Canadian energy investment firm Peters & Co.
3 min read · 15 June 2017
Toronto education technology company Top Hat has increased its previously announced Series C financing to about $40 million (US$30 million). The top up was the result of a US$7.5 million investment by Canadian venture capital firm Leaders Fund, which launched an enterprise-software fund last year. Founded in 2009, Top Hat is the developer of a cloud-based student engagement and interactive teaching platform. Along with the investment, it announced the release of Top Hat Marketplace, a resource of affordable and customizable educational content. Union Square Ventures led Top Hat's Series C round.
4 min read · 15 June 2017
3 min read · 15 June 2017
3 min read · 15 June 2017
H2O Midstream LLC has acquired Permian Basin produced water infrastructure from the U.S. subsidiary of Calgary energy producer Encana Corp (TSX, NYSE: ECA). Financial terms were not released for the deal, which includes an agreement whereby H2O will gather, dispose and deliver for re-use produced water for a substantial portion of Encana's acreage position in Texas. Houston-based H2O is an energy midstream company with an exclusive focus on water. It is funded by U.S. energy private equity firm EIV Capital and its institutional partners.
3 min read · 15 June 2017
Founders Advantage Capital Corp (FA Capital) has closed a $100 million senior secured credit facility with the credit subsidiary of Sagard Holdings. The deal's proceeds will be used to repay FA Capital's existing senior indebtedness, make additional acquisitions, and for other priorities. Based in Calgary, FA Capital is focused on making majority-interest acquisitions of cash-flow positive mid-market companies. Sagard is a debt and equity investment firm affiliated with Canada's Power Corp.
3 min read · 15 June 2017
Vancouver medical device company Evasc Neurovascular Enterprises ULC has raised $10 million in a Series A financing, bringing its total funding to date to $27 million. Yonghua Investment Management, a Chinese private equity firm, led the round and was joined by undisclosed existing investors. Founded in 2008, Evasc is focused on the development of disruptive endovascular treatments for cerebral aneurysms. It plans to use the funds raised for the advancement and commercialization of its eCLIPs system, a device designed to treat 95 percent of cerebral aneurysm cases. Evasc is led by Dr Donald Ricci, the company's president and CEO.
3 min read · 15 June 2017
Capital croissance PME (CCPME) has invested $2.5 million in Lanla, a Mont‑Saint‑Hilaire, Québec-based marketing research platform. The investment is the third made by CCPME in the company. Founded in 2002 by President and CEO Luc Brousseau and CTO Christian Watier, Lanla specializes in measuring and managing customer experiences. It is currently expanding its services with a soon-to-be-released mobile app, Wizper, which analyzes survey results. CCPME is a private equity fund sponsored by Capital régional et coopératif Desjardins and Caisse de dépôt et placement du Québec.
3 min read · 15 June 2017
