Canadian mining company Highland Copper Co Inc (TSX-V: HI) has closed a third tranche of its private placement, raising gross proceeds of about $15.4 million. Orion Mine Finance, a U.S. mining private equity firm, invested in the deal, giving it a roughly 18.6 percent interest. Orion is entitled to certain rights as a result of its investment, including an ability to purchase 15 percent of concentrates produced from the company's Copperwood project. Based in Longueuil, Québec, Highland said it will use the proceeds of the private placement, targeted to raise about US$17 million, to continue exploring and developing projects in Michigan's copper district.
3 min read · 20 March 2017
A group of eight Anges Québec investors have backed the launch of ImpressView Inc, a Montréal-based human resources software startup. No financial terms were released. The investors included Étienne Veilleux, who last year joined Novacap TMT as a senior partner. Founded by Imad Ezzeddine, ImpressView operates a video platform to help businesses with recruitment needs and job seekers with personal brand management. Anges Québec's financing helped the company to forge new partnerships.
2 min read · 20 March 2017
Fengate Real Asset Investments has promoted Justin Catalano to managing director and head of private equity. Catalano, who joined Fengate in 2011 and served as director of infrastructure, will oversee the Toronto-based firm's newly created private equity investment group. In that role he will identify and execute on deal opportunities focused on mid-market operating companies and platforms affiliated with real assets sectors. Catalano formerly served as an associate at Birch Hill Equity Partners and TD Capital Mezzanine Partners.
2 min read · 20 March 2017
FarmLead has raised $6.5 million in Series A financing. The round was led by Monsanto Growth Ventures, the investment arm of Monsanto Co, and joined by Avrio Ventures, MaRS Innovation and Serra Ventures. With the deal, Kiersten Stead of MGV and Aki Georgacacos of Avrio will join the board. Ottawa-based FarmLead operates a digital marketplace that allows buyers and sellers to list, negotiate and finalize grain deals. The company has since 2013 grown to serve over 4,000 farms. Led by CEO Brennan Turner, it will use the funds raised to expand into the U.S. market and open an office in Chicago.
5 min read · 20 March 2017
Canadian private equity firm Penfund earlier this month invested in Caliber Collision Centers and Mister Car Wash (MCW), two existing portfolio companies. Penfund provided US$87 million in second-lien debt, the lead order for a new US$250 million credit facility, to Caliber, a U.S. collision repair shop operator controlled by OMERS Private Equity. Penfund also provided US$9.8 million in debt funding to MCW, a U.S. car wash operator controlled by Leonard Green & Partners. The deals, which supported dividend recapitalizations, were done via Penfund Capital Fund V, which raised $724 million last year.
3 min read · 20 March 2017
FarmLead has raised about $8.7 million (US$6.5 million) in a Series A financing. The round was led by Monsanto Growth Ventures (MGV), the investment arm of Monsanto Co, and joined by Avrio Ventures, MaRS Investment Accelerator Fund and Serra Ventures. With the deal, Kiersten Stead of MGV and Aki Georgacacos of Avrio will join the board. Ottawa-based FarmLead operates a digital marketplace that allows buyers and sellers to list, negotiate and finalize grain deals. The company has since 2013 grown to serve over 4,000 farms. Led by CEO Brennan Turner, it will use the funds raised to expand into the U.S. market and open a Chicago office.
5 min read · 20 March 2017
Canadian private equity firm Catalyst Capital Group has been awarded the 2017 "Cross Border Turnaround of the Year Award" from the Global M&A Network. The award, which recognizes multi-jurisdictional restructuring events valued above US$5 billion, went to Catalyst for its role in last year's restructuring of Pacific Exploration & Production Corp, a Toronto producer of natural gas and crude oil in Latin America. Catalyst was also nominated for the 2017 "Global Private Equity Turnaround Firm of the Year Award". The winner will be announced in a ceremony in New York on April 4th.
3 min read · 20 March 2017
Fonds de solidarité FTQ and Gestion AD have invested $3.5 million in Reflex Photonics Inc, a Canadian maker of rugged, high-speed optical transceiver modules and parallel embedded optics products. The deal was led by Fonds de solidarité FTQ, an existing backer of the company, and forms part of a broader $5.5 million investment. Established in 2002, Kirkland, Québec-based Reflex is led by President and CEO Noël Dubé. Its products, used in aerospace, defense, avionics, telecommunications and data centres, are sold worldwide.
3 min read · 17 March 2017
Nextlaw Ventures, the venture arm of Nextlaw Labs, has made an investment in FileFacets, an Ottawa data analytics and content migration software platform. The investment, which was undisclosed, tops up the company's Series A financing, led by Canadian venture capital firm Celtic House Venture Partners last November. FileFacets, whose cloud-based solutions support data organization in law firms, is the third deal done in Canada by Nextlaw Labs, a legal technology venture development company launched in 2015 by Dentons. FileFacets is also backed by Wesley Clover International and GCI Ventures.
4 min read · 16 March 2017
CrowdCare Corp, a Toronto provider of advanced cognitive digital care solutions for enterprises, has closed its Series A financing. The announcement confirms a previous one made by ScaleUP Ventures, the round's lead investor. Brightspark Ventures and Mantella Venture Partners also invested. The deal's financial terms were not disclosed; however, ScaleUp said it contributed $1.7 million. As a result, Kevin Kimsa of ScaleUp and Mark Skapinker of Brightspark will join the board. CrowdCare, which has spent four years developing its Wysdom platform, said the funds raised will be used to expand global sales, marketing and customer success teams.
3 min read · 16 March 2017
