Vancouver-based biotherapeutics company Zymeworks Inc has filed for a U.S. and Canadian IPO. The IPO, which will give the company a listing on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “ZYME”, has not been officially priced; however, the U.S. Securities and Exchange Commission notes a proposed offering size of as much as $75 million. Zymeworks' backers include BDC Capital and Lumira Capital.
2 min read · 04 April 2017
Toronto catering platform Platterz has raised $6.7 million in a seed-stage financing. The round was backed by a mix of venture capital and angel investors, including AltaIR Capital, Globalive Capital, Kevin Kimsa, Dennis Bennie, Ran Makavy and Oren Zeev. Launched early in 2016 by CEO Eran Henig and President Yishay Waxman, Platterz utilizes machine learning technology to automate the ordering of food for office locations. Used today by more than 1,000 corporate customers, the startup plans to use the funds raised to expand globally, accelerate product development, and increase sales and marketing activity.
3 min read · 04 April 2017
Canadian private equity firm Beringer Capital has acquired Blue Acorn Inc, a Charleston, South Carolina digital commerce agency. No financial terms were released for the deal, which will see Blue Acorn's management retain an equity interest in the company. Led by Founder and CEO Kevin Eichelberger, Blue Acorn will utilize the partnership with Beringer to accelerate the growth and development of its technology and services for brands and retailers. It is the second investment of Beringer's third fund, which invests in digital media and marketing services sectors. Last July, Beringer acquired Adweek from Mediabistro Holdings LLC.
3 min read · 03 April 2017
Alithya has acquired Systemware Innovation Corp (SWI), a Toronto information technology and software engineering consulting business. No financial terms were disclosed. Alithya, a Québec City provider of strategic consulting and information technology services, said the deal will add to its service offering, enhance its presence in financial, energy and transportation sectors, and enable expansion of its FinTech LAB services into Ontario. In January, the company raised $17 million in funding from Capital régional et coopératif Desjardins, Investissement Québec, Telus Ventures and iA Financial Group.
3 min read · 03 April 2017
3 min read · 03 April 2017
Canada’s top 10 first-quarter venture-capital financings drew close to $400 million from investors. While that’s down 19 percent from the $490 million raised by the top 10 deals a year earlier, it far exceeds the first-quarter results of other recent years. The estimate is based on PE Hub Canada’s list of the largest financings announced from January through March, supplemented by Thomson Reuters data. The list is headed by PointClickCare, which accounted for 2017’s first deal sized above $100 million, Visier, Inocucor Technologies and Fusion Pharma.
3 min read · 03 April 2017
Canadian power producer Maxim Power Corp (TSX: MXG) has closed its sale of a 100 percent interest in Maxim Power (USA) Inc to an affiliate of Hull Street Energy, a U.S. private equity firm. The deal, announced in December, reflects an implied enterprise value of about US$106 million. Maxim said it will receive net proceeds of about US$84 million. Based in Calgary, Maxim acquires and develops power and power-related projects. It currently owns and operates two plants in Alberta with 156 megawatts of electric-generating capacity. Hull Street invests in power generation assets and related businesses.
3 min read · 03 April 2017
Gaz Métro LP, a Montréal-based natural gas distribution company, has raised about $100 million in gross proceeds from a private placement offering. Of the total proceeds, about $71 million was raised through an issuance of common shares to Noverco Inc, an ownership vehicle held primarily by Canadian pension fund manager Caisse de dépôt et placement du Québec. The funds raised will be used to rebalance the company's capital structure and other priorities, Gaz Métro said. Last month, a Gaz Métro affiliate agreed to buy Standard Solar Inc, a U.S. developer of solar electric systems.
3 min read · 03 April 2017
Vancouver-based biotherapeutics company Zymeworks Inc has filed with Canadian and U.S. regulatory authorities for an initial public offering of its common shares. The IPO, which will give the company a listing on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbol “ZYME”, has not been officially priced; however, the U.S. Securities and Exchange Commission notes a proposed offering size of as much as $100 million (US$75 million). Last year, Zymeworks closed one of Canada's largest venture capital rounds, raising about $87 million (US$61.5 million). It was led by BDC Capital and Lumira Capital and joined by multiple other investors.
3 min read · 03 April 2017
Novarc Technologies Inc, a Vancouver robotics systems platform, has raised $1 million in a seed-stage financing. The round was led by Canadian marine transportation business Seaspan ULC with participation from Canadian venture capital firm BDC Capital. Founded in 2013, Novarc builds advanced custom robots for pipe welding and materials handling, a solution used in the shipbuilding industry. It will use the funds raised to scale commercialization of its Spool Welding Robot technology, expand sales and marketing activity in North America, and continue investing in R&D.
4 min read · 31 March 2017
