Canadian 3D sensor startup Airy3D has raised about $4.8 million (US$3.5 million) in a seed-stage financing. The round was led by CRCM Ventures and R7 Partners and joined by WI Harper Group, Robert Bosch Venture Capital, Nautilus Venture Partners and angel investors affiliated with TandemLaunch, the Canadian incubator and seed investor that spun out the company. Montréal's Airy3D, led by President and CEO Dr. Dan Button, has developed a TDM technology platform that can cost effectively convert any camera sensor into a versatile 3D sensor. It will use the funds raised to bring the platform into commercial use with a strategic partner.
4 min read · 15 May 2017
Canadian private equity firm NorthSpring Capital Partners has invested more than $1.5 million in five technology companies located in the Toronto-Waterloo corridor. The companies are video quality platform SSIMWave; surgical navigation solutions provider Intellijoint Surgical (which last November closed a $11 million Series A financing); workplace health company Sprout; hyperconvergence software solutions provider HTBase and; diesel gas converter Envoy Energy (which recently acquired ComTech CNG, a designer of compressed gas refuelling stations). NorthSpring partnered with venture capital and angel investors in several of the deals.
6 min read · 15 May 2017
Stellwagen Group, acquired earlier this year by Acasta Enterprises Inc (TSX: AEF), has agreed to buy the commercial aviation advisory and asset management business of ECN Capital. The purchase price is US$22.5 million, payable through an issue of Acasta shares. Ireland's Stellwagen, which operates in the same field, will gain an established asset management platform, expertise and greater distribution capabilities, Acasta said. Acasta bought Stellwagen as part of a $1.1 billion round of deals. A Canadian special purpose acquisition corporation (SPAC), Acasta plans to launch as a private equity firm this year.
3 min read · 12 May 2017
Evergreen Consumer Brands, a Brampton Ontario designer, maker and distributor of health and beauty care, oral care, and cleaning products, has completed a management buyout. It was funded with subordinated debt provided by First West Capital, an affiliate of Canadian credit union First West Credit Union. No financial terms were disclosed. Langley, British Columbia-based First West Capital, which provides subordinated debt, mezzanine, and equity financing to Canadian mid-market businesses, entered the Ontario market last year with the hire of David Hastie from Roynat Capital.
3 min read · 12 May 2017
Canadian gold producer Continental Gold Inc (TSX: CNL) has agreed to receive a US$25 million investment from RK Mine Finance, an affiliate of Australian mining finance firm Red Kite Group. The private placement deal, which will provide Red Kite with 4.6 percent of the company's issued and outstanding common shares, was accompanied by a US$109 million strategic investment by Newmont Mining Corp, a U.S. gold producer. Toronto-based Continental said the proceeds will support the construction of its Buriticá gold project in Columbia.
4 min read · 12 May 2017
Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ have agreed to join the take-private acquisition of Canam Group Inc (TSX: CAM) as equity investors. The deal, announced last month, will see Canam acquired by U.S. private equity firm American Industrial Partners (AIP) and the Dutil family for $875 million, including debt. The Caisse and Fonds, existing investors in Canam, will with Dutil shareholders own up to 40 percent of the company's equity with the deal's close, while AIP will hold the majority share. Based in Saint-Georges, Québec, Canam is a maker of customized products for the construction industry.
5 min read · 12 May 2017
5 min read · 11 May 2017
Toronto cloud real estate technology platform Real Matters Inc has closed its initial public offering, raising about $156.7 million for the company and selling shareholders. The offering’s greenshoe option may generate an additional $23.5 million. Real Matters, which began trading today on the Toronto Stock Exchange under the symbol REAL, achieved a valuation in excess of $1 billion, according to Whitecap Venture Partners, a Canadian venture capital firm and one of the company's earliest investors. Its other private investors include Kensington Venture Fund, Radar Capital and Wellington Financial.
3 min read · 11 May 2017
Montréal voice recognition software company Fluent.ai Inc has raised $1.8 million in a seed-stage financing. The round was backed by BDC Capital, Danhua Capital, investors affiliated with Creative Destruction Lab and Maple Leaf Angels. Fluent.ai, which is now graduating from TandemLaunch's incubation program, is focused on developing a voice recognition software solution to be used in the products and services of original equipment manufacturers and user interface designers. Led by CEO Niraj Bhargava, the company plans to use the funds raised to commercialize its technology.
4 min read · 11 May 2017
While female founders are a growing presence in North America’s tech sectors, a wealth of anecdotal and statistical data show women-led startups face barriers to accessing risk capital. This week an important step was taken to reverse the trend in Canada. StandUp Ventures Fund I, a women-focused pre-seed and seed fund, raised an initial commitment and closed its debut deal. The fund, managed by MaRS Investment Accelerator Fund, is earmarked for investments in technology companies that have at least one female founder in the C-suite. PE Hub Canada sat down with BDC Capital Managing Director Michelle Scarborough and MaRS IAF Investment Director Michelle McBane to talk about the fund, its goals, and challenges faced by women entrepreneurs.
5 min read · 11 May 2017
