Therapia, an online platform for on-demand at-home physiotherapy, has raised $750,000 in seed-stage financing. The round was led by angel investors in the healthcare space, including Dr. Anthony Romeo, a surgeon for the Chicago White Sox. Founded in 2015 by six healthcare entrepreneurs to create more affordable and accessible physiotherapy, Toronto-based Therapia plans to use the funds raised to grow its network of physiotherapists in the region. It also plans to expand across Canada within the next two years, starting with the Vancouver market.
3 min read · 29 March 2017
Inocucor Technologies Inc, a Montréal agricultural biotechnology company, has raised $38.8 million in the initial close of its Series B financing. The round was led by TPG ART, a late-stage venture capital fund of U.S. alternative assets firm TPG. It was joined by existing investors Cycle Capital Management and Desjardins Innovatech, as well as Closed Loop Capital. With the round, TPG's Geoff Duyk joined the board. Founded in 2007, Inocucor develops sustainable biological inputs to improve crop yields, shorten growing periods and create healthier, more resilient soils. The funds raised will support opening a U.S. office, increasing productive capacity and new hires.
4 min read · 28 March 2017
Canadian private-markets investor Northleaf Capital Partners has hired Matt Murphy as legal counsel. Murphy, who is based in the firm's Toronto headquarters, will work with Northleaf deal teams and external legal counsel to review, structure and complete investments. He joined Northleaf from Canadian law firm Torys LLP, where he served as an associate practicing corporate and securities law with a focus on private equity and fund formation. Murphy was the lead author on "Hot topics in private fund negotiations," a Torys' feature article published on PE Hub Canada last month.
2 min read · 28 March 2017
Canadian mobile venture capital firm Relay Ventures has hired Irfhan Rawji as a venture partner. Rawji, who is based in Calgary, will help Relay develop its market presence in Western Canada and the U.S. Pacific Northwest. Before joining the firm, he had a 15-year career as a strategic consultant, investor, and public company senior executive responsible for M&A, strategy and investor relations. On the investment side, Rawji's experience included senior roles at Birch Hill Equity Partners and Onex Corp. Relay raised $200 million for its third mobile fund last November.
3 min read · 28 March 2017
Ontario Teachers' Pension Plan and Borealis Infrastructure have partnered in the launch of two new British smart energy companies. They are MapleCo, a meter asset provider that will support the roll out of a national smart meter program, and SGN Smart, an affiliate of SGN Ltd, which will provide services and resources to MapleCo. No financial terms were disclosed for the deal, which is being done in collaboration with SSE plc. SGN, a British gas distribution network company, is backed by Borealis, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS).
2 min read · 27 March 2017
Beijing BDStar Navigation Co Ltd has agreed to acquire Rx Networks Inc, a Vancouver-based mobile positioning technology company, according to a Reuters report. Reuters said the Chinese company, a maker of satellite navigation positioning products, struck a deal to buy Rx Networks for $31 million. Founded in 2006, Rx Networks is a portfolio company of Canadian venture capital firms Discovery Capital and Telus Ventures, the investment arm of Telus Communications Co, among other investors.
1 min read · 27 March 2017
Montréal software startup Kaloom Inc has raised about $10.7 million in Series A financing. The round, closed in December, was led by Canadian private equity and venture capital firm Fonds de solidarité FTQ and joined by Somel Investments, MBUZZ Investments, Griffin Capital and other investors. Launched in 2014, Kaloom is building a software networking solution aimed at helping data center deliver services and applications with higher performance and lower cost. The company, led by Co-founder and CEO Simon Williams, is currently growing its team in Montréal, where most R&D is undertaken, and in Silicon Valley.
5 min read · 27 March 2017
Lufa Farms Inc, a Montréal developer of urban agriculture facilities, has launched its third greenhouse atop an existing building in Anjou, Québec. The greenhouse, the largest to date at 63,000 square feet, was backed with a $3 million investment by Fonds de solidarité FTQ. Founded in 2009 by Mohamed Hage, Lufa promotes commercial-scale vegetable farming that relies on environmentally responsible methods. Additional facilities are planned for selected cities in Canada and the United States.
3 min read · 27 March 2017
Discovery Air Inc (TSX: DA.A), a portfolio company of Canadian private equity firm Clairvest Group, has agreed to be taken private by the investor. The deal, which has a total cash consideration of $1.5 million, will see Discovery Air become wholly-owned by Clairvest and members of the company's senior management team. More than 90 percent of shareholders have said they will vote in favour of the privatization. Toronto-based Discovery Air, a specialty aviation services provider led by President and CEO Jacob Shavit, secured a $70 million investment from Clairvest in 2011.
7 min read · 27 March 2017
Total Energy Services Inc (TSX: TOT) acquired a majority (51.6 percent) of the outstanding common shares of Savanna Energy Services Corp (TSX: SVY), a Calgary contract drilling and oilfield services company. The deal, which was not solicited, comes on the heels of Savanna's agreement earlier this month to be acquired by Western Energy Services Corp for about $533 million, including debt. Total said the combination of the two companies creates an energy services company "with a strong market position in four business segments." Savanna last year raised debt and equity funding from Alberta Investment Management Corp (AIMCo).
4 min read · 27 March 2017
