Airex Energy Inc, a Laval, Québec-based developer of biomass torrefaction systems, has secured more than $10 million in follow-on financing. Canadian venture capital firms Cycle Capital Management and Desjardins-Innovatech, which have backed the company since 2014, invested in the latest round alongside TechnoClimat, Sustainable Development Technology Canada and other investors. Airex will use the funds raised to expand the commercialization of its CarbonFX technology, which converts biomass into biocoal, and to support new plant operations. Led by CEO Sylvain Bertrand, the company is a spin-off from Airex Industries Inc.
3 min read · 27 February 2017
TouchBistro, which in October closed a $17 million Series B financing, has partnered with Thinking Capital to offer restaurants "a quick and convenient way" to secure financing. TouchBistro said restaurant owners and operators using its point-of-sale app can apply for funding from Thinking Capital for working capital or to support growth. With offices in Montréal and Toronto, Thinking Capital is an alternative lender to small and medium-sized businesses. Toronto-based TouchBistro is backed by BDC Capital, Huff Capital, Kensington Capital Partners, Relay Ventures, Round13 Capital and other investors.
5 min read · 27 February 2017
Hootsuite has acquired LiftMetrix, a social media analytics company based in New York. No financial terms were disclosed for the deal, which comes on the heels of Hootsuite's buy of AdEspresso earlier this month. Hootsuite said the addition of LiftMetrix to its social marketing solution will help customers better understand the business impact and ROI of their advertising efforts. Founded in 2008, Vancouver-based Hootsuite has raised about US$250 million in venture capital funding from a number of investors, including Accel Partners, Insight Venture Partners and OMERS Ventures. LiftMetrix closed a seed round in 2014, according to Crunchbase.
3 min read · 27 February 2017
Canada's venture capital market saw a seventh straight year of growth in 2016, according to a report from the Canadian Venture Capital and Private Equity Association (CVCA). Driven by deals sized $50 million or more, investment in some 530 financings hit $3.2 billion at year's end, up 41 percent from 2015. In contrast, Canada's private equity market experienced slower activity due to fewer mega-deals. Investment in 2016 dipped 40 percent year over year, from from $22.9 billion to $13.7 billion, despite growth in deal volumes. Market values may be poised for a rebound, however, given a strong Q4 2016, which saw $4.1 billion invested, up 36 percent quarter over quarter.
6 min read · 24 February 2017
Canadian venture capital firm Vanedge Capital has secured $161 million in committed capital in the final close of Vanedge Capital II. Fund II, which invests in early-stage companies in cloud computing, artificial intelligence, cyber security, SaaS and digital media, closed with an additional investment from HarbourVest Partners. HarbourVest joins existing limited partners, including BDC Capital, Export Development Canada, Kensington Capital, Nicola Wealth Management and BC Tech Fund. Vancouver-based Vanedge was founded in 2008 by Managing Partner V. Paul Lee. Last year, PE Hub Canada interviewed Managing Partner Moe Kermani about Fund II's initial close.
3 min read · 24 February 2017
Roadmunk, a roadmap visualization software platform, has secured $1.5 million in a seed-stage financing. The round was led by Canadian venture capital firm Golden Venture Partners and joined by Felicis Ventures and Garage Capital. Founded in 2012 by CEO Latif Nanji and CTO Tomas Benda, Toronto-based Roadmunk has built a web application that allows enterprises to create and share visual strategy roadmaps. With additional offices in Waterloo and London, United Kingdom, the startup has grown to serve more that 25,000 product managers in organizations worldwide. Roadmunk has previously received funding from BDC Capital.
3 min read · 24 February 2017
Canadian company creator and seed fund TandemLaunch has signed on Cap Vista Private, the investment arm of Singapore's Defence Science and Technology Agency, as an investor in TandemLaunch Ventures Fund II. Fund II closed last November at $15 million. The fund commitment by Cap Vista formalizes a partnership whereby it can provide access to potential global funding and development opportunities to TandemLaunch's technology startups. General Partner Helge Seetzen, the founder of Montréal-based TandemLaunch, was interviewed by PE Hub Canada in June 2016.
3 min read · 24 February 2017
Give and Go Prepared Foods Corp, acquired last year by U.S. private equity firm Thomas H. Lee Partners, has bought the business of United Baking Co Inc and its affiliates Uncle Wally’s LLC and Vision Enterprises LLC. No financial terms were released. Based in Shirley, New York, Uncle Wally’s is a pure-play maker of premium muffins. Toronto's Give & Go said the deal represents the first expansion of its manufacturing footprint in the United States. It added that Uncle Wally's products will complement its own portfolio of thaw-and-sell products. Thomas H. Lee acquired Give & Go last August from OMERS Private Equity.
3 min read · 23 February 2017
Tricor Pacific Founders Capital set out two years ago to build a portfolio of food, beverage and consumer-packaged-goods companies. In that time, the Vancouver family office has made big strides toward that goal. Tricor Founders was launched as a partnership among food-industry executive Richard Harris, two of the founders of Tricor Pacific Capital, Rod Senft and Trevor Johnstone, and Derek Senft, Rod’s son. PE Hub Canada sat down with Harris, once dubbed Tricor Founders’ “secret weapon”, to discuss recent deals, the family office’s progress, and where it goes from here.
4 min read · 23 February 2017
Tantalus Systems Corp, a smart grid solutions provider for municipal and cooperative utilities, has raised $6 million in follow-on funding. A number of investors backed the round, including CT Innovations and Vareco Holdings. The company is also backed by Discovery Capital and Redpoint Ventures, among others. Tantalus, which is based in Burnaby, British Columbia, and Raleigh, North Carolina, said the funds raised will support growth in its customer base and expansion of its smart grid applications ecosystem. Its technology is currently deployed across more than 115 utilities in North America, Latin America and the Caribbean.
4 min read · 23 February 2017
