OMERS Platform Investments, an affiliate of Ontario Municipal Employees Retirement System, has agreed to acquire a minority equity stake in Purpose Investments Inc, a Toronto-based provider of exchange traded funds, mutual funds and other investment vehicles. The terms of the deal, expected to close today, were not released. Purpose was founded in 2012 by President and CEO Som Seif. Seif said the partnership with OMERS will supply the firm "with the capital we need to advance our business faster and further." Purpose currently oversees $3.3 billion in assets.
3 min read · 25 May 2017
Blue Ant Media Inc has acquired Racat Group, a Sydney, Australia-based media organization. No financial terms were disclosed. The buy includes production houses NHNZ, Beach House Pictures and Northern Pictures, as well as children’s nature broadcaster ZooMoo Networks, and Runaway Play, a mobile game developer and publisher. Blue Ant, a Toronto-based media content creator and distributor, said the deal grows its global production capacity and will fuel its content sales business and worldwide video channels. Founded in 2011, Blue Ant is backed by Difference Capital, Gibraltar Ventures and Relay Ventures.
6 min read · 24 May 2017
Circle Media Inc, a U.S. connected home device management company, has raised US$10 million in a Series A financing. The round was led by Canadian venture capital firm Relay Ventures. Founded in 2014, Circle develops products used by families to manage all their connected devices. The company's flagship product, Circle with Disney, helps parents oversee network devices through a simple companion app. It will use the funds raised to accelerate growth of U.S. users, expand globally, and enhance its product offering. Last November, Relay closed its third mobile fund, Relay Ventures III, at $200 million.
3 min read · 24 May 2017
Canadian medical device and robotics company Bionik Laboratories Corp has secured $1.95 million in funding from Ginger Capital Investment Holding, a Hong Kong investment and management consulting firm. Ginger Capital will invest $500,000 directly into the company and $1.45 million into a joint venture established with Bionik. The joint venture will include an exclusive license to sell Bionik's products in China. Founded in 2009, Toronto-based Bionik develops robotics technologies that provide rehabilitation solutions to individuals with neurological and mobility challenges.
5 min read · 24 May 2017
Canadian private equity firm Champlain Financial Corp has acquired Cheticamp Fisheries International Ltd, a branded seafood processor and wholesale distributor based in Cheticamp, Nova Scotia. No financial terms were released for the deal, which was announced by Ascendiant Capital Markets LLC, the company's financial advisor. Led by President Pierre LeBlanc, Cheticamp supplies snow crab and lobster to customers in the United States, Canada, and Asia. Montréal-based Champlain is focused on small and mid-market investment opportunities.
3 min read · 24 May 2017
Citizen Hex Inc, a Toronto-based Ethereum liquidity company, has raised an undisclosed seed-stage financing. The round was led by Version One Ventures and joined by OMERS Ventures, Purpose Investments, League CEO Mike Serbinis and Morgan Stanley Managing Director Laura Adams, among others. Citizen Hex, founded last year by CEO Benjamin Roberts and CTO Brett Bergmann, will focus on acquiring, securing and trading ERC-20 tokens and helping accelerate the ecosystem for Ethereum, a successor to Bitcoin, by increasing liquidity. Version One's Boris Wertz, who sits on the company's board, discusses Citizen Hex here.
2 min read · 23 May 2017
Canadian specialty finance firm Crown Capital Partners has amended its $15 million term loan agreement with Petrowest Corp (TSX: PRW), a Calgary infrastructure company. Additionally, Crown said it will provide Petrowest with a new $12 million bridge loan to enhance its financial flexibility while the company pursues a non-core asset disposition program. The two deals increased Crown's equity ownership. Founded in 2006, Petrowest is focused on industrial and civil infrastructure projects, gravel crushing and hauling, as well as pre-drilling and post-completion energy services.
2 min read · 23 May 2017
SkyX Systems Corp, a maker of autonomous drones to service the oil and gas industry, has secured most of a $6.8 million (US$5 million) investment by the Kuang-Chi GCI Fund, a fund launched last year by China's Kuang-Chi Group. Founded in 2015 by CEO Didi Horn, Markham, Ontario's SkyX has developed a self-charging drone that can inspect pipelines for damage and provide clients with mapping and security surveillance. The technology helps energy companies limit their reliance on road vehicles and manned aircraft. SkyX said it will use the funds raised to grow its markets and develop its product.
3 min read · 23 May 2017
Montréal financial technology startup Mylo has closed its pre-seed financing at $1.25 million. The close resulted from a new $750,000 investment by Canadian fintech venture capital firm Ferst Capital Partners, the round's leader. Several angel investors also joined the deal. Founded in 2015 by CEO Philip Barrar, Mylo has developed a mobile platform that automatically rounds up every purchase that users make and invests the spare change. It plans to use the funds raised to grow technical and operations teams, expand its user base, and complete the acquisition of a registered asset management firm.
3 min read · 23 May 2017
IPL Inc has acquired Macro Plastics Inc, a Fairfield, California manufacturer of rigid plastic bulk bins, for US$150 million. The acquisition was funded through a combination of IPL's senior bank facilities and additional equity from parent company One51 and backers Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ. Saint-Damien Québec-based IPL, a manufacturer of injected moulded plastic products, said the deal will expand its geographic reach, product portfolio and customer base. Ireland’s One51 acquired IPL two years ago from Canadian private equity firm Novacap for about $280 million.
5 min read · 23 May 2017
