Shermaine Tilley, a managing partner at CTI Life Sciences Fund, and Dion Madsen, a senior managing partner at BDC Capital, have left the board of directors of Zymeworks Inc (NYSE, TSX: ZYME). The resignations, which also included Eli Lilly & Co's Kerry Blanchard, follow Zymeworks' initial public offering in Canada and the United States, which wrapped up earlier this month. Vancouver-based Zymeworks, a biotherapeutics provider, went public after raising nearly US$150 million from a mix of venture capital and strategic investors.
2 min read · 09 May 2017
Dicom Transportation Group, a Canadian portfolio company of U.S. private equity firm Wind Point Partners, has sold its Extra Express division to St. George Logistics (STG), which is also majority owned by Wind Point. No financial terms were disclosed. Extra Express, a U.S. provider of warehousing and related delivery services, was bought by Dicom in 2015. STG will leverage the company's capabilities to introduce local last-mile delivery to its import-export services, Wind Point said. Montréal-based Dicom, acquired by Wind Point in 2014, is an expedited transportation and logistics company. It will focus on its "core footprint" as a result of the deal.
4 min read · 09 May 2017
Attendease, a Vancouver cloud-based event automation solution, has closed a pre-Series A financing. The round, which was undisclosed, was led by 500 Startups Canada and joined by Canadian investors Conconi Growth Partners and 7Gate Ventures. Founded in 2004, Attendease has developed a software platform that helps corporate teams plan and execute an entire portfolio of meetings and events. Led by President and CEO Todd Heintz, the company will use the funds raised to accelerate sales and marketing and invest in product feature development. 500 Startups Canada, launched in 2016, announced the first close of its US$30 million fund in January.
3 min read · 09 May 2017
Home Capital Group Inc (TSX: HCG) has appointed Claude Lamoureux and Paul Haggis to its board of directors. Lamoureux is the former President and CEO of Ontario Teachers' Pension Plan, a role he held between 1990 and 2007. Haggis is the former CEO of Ontario Municipal Employees Retirement System (OMERS), a role he held between 2003 and 2007. Home Capital, a Toronto-based alternative mortgage lender, is currently the focus of potential acquisition bids by Canadian and U.S. private equity firms, according to a Reuters report.
6 min read · 09 May 2017
Canadian venture capital firm OMERS Ventures has closed its third fund, raising $300 million. OMERS Ventures Fund III secured commitments from the Ontario Municipal Employees Retirement System as well as third-party investors, including BMO Financial Group, CIBC, National Bank, Sun Life Financial, TD Securities and the Wafra Group. The close brings the firm's total capital managed to $800 million. Launched in 2011, OMERS Ventures has invested in 35 North American companies, which have raised an additional $1.2 billion in funding. Earlier this year, the firm led the $12 million Series B round of Ottawa dashboard software provider Klipfolio.
2 min read · 09 May 2017
Supplier knowledge management platform Tealbook has closed its seed-stage financing. No financial terms were released. As previously reported, StandUp Ventures Fund I, a women-focused fund, invested in the round. It was joined by MaRS Investment Accelerator Fund, which manages StandUp, as well as a several angel investors. Toronto-based Tealbook, which provides actionable supplier intelligence to enterprises, was founded in 2014 by CEO Stephany Lapierre.
2 min read · 08 May 2017
Roustan Capital has acquired Supreme Brands LLC, the owner of hockey equipment brands Torspo and Christian. No financial terms were released. Roustan Capital, the Canadian investment arm of Graeme Roustan, former chairman of Performance Sports Group Ltd, said it will announce future plans for Torspo and Christian in the months ahead. Performance Sports, a U.S. maker of sports equipment and apparel, was acquired in March by Power Corp's Sagard Capital Partners and Fairfax Financial Holdings for US$575 million.
3 min read · 08 May 2017
Chuck Rifici, CEO of Canadian cannabis private equity firm Nesta Holding, has launched Cannabis Wheaton Income Corp, the "world's first" cannabis streaming company. Cannabis Wheaton will provide financing and advice to streaming partners, consisting of licensed cannabis producers, in exchange for a minority interest and allocation of the producer's yield at an agreed upon price. The firm said it has so far entered into agreements with 14 streaming partners in Canada. Karamdeep Nijjar, partner at Canadian venture capital firm iNovia Capital, sits on the company's advisory board.
3 min read · 08 May 2017
QuadReal Property Group, a real estate company formed last year by British Columbia Investment Management Corp (bcIMC), has invested US$600 million in a joint venture to acquire, develop and manage student housing at universities across the United States. The joint venture is being undertaken with CA Student Living (CASL), the student housing investment arm of CA Ventures, and GI Partners, a U.S. private equity and real estate firm. The initial portfolio includes 10 properties developed and managed by CASL. Vancouver-based QuadReal oversees bcIMC's $18 billion-plus in real estate assets.
4 min read · 08 May 2017
Laboratoire M2 has raised $4.6 million in a Series B financing. The round was led by Canadian venture capital firms Cycle Capital Management and Desjardins-Innovatech, existing investors in the company. They were joined by new investors, including Germain Benoit of Gercanoit. Founded in 2003, Sherbrooke, Québec-based Laboratoire M2 is the maker of Thymox, a botanically-derived disinfectant for use in animal health and crop protection. Led by CEO Frank Palantoni, the company plans to utilize the funds raised to pivot from development of its Thymox technology to full-scale commercial expansion on three continents.
4 min read · 08 May 2017
