DW Healthcare Partners (DWHP) has promoted Aly Champsi to managing director and partner. Champsi, who joined DWHP in April 2014, will be responsible for overseeing due diligence, structuring and execution of the firm's healthcare private equity investment opportunities from its Toronto office. He joined DWHP from Canadian private equity firm Clairvest Group, where he served as a principal. DWHP, which also has an office in Park City, Utah, last month partnered in the acquisition of Edge Systems LLC.
2 min read · 06 January 2017
Microbion Corp, a Vancouver and Bozeman, Montana biopharmaceutical company, has secured about $33 million (US$25 million) in funding. The investment was made by a health sciences fund recently launched by Canadian venture capital firm Quark Venture and China's GF Securities Co Ltd. Microbion specializes in the treatment of hard-to-treat and antibiotic-resistant infections. It plans to use the funds raised to advance a new class of drug products that address infections by attacking both bacteria and related microbial biofilms. Founded in 2000, the company is led by Chairman and CEO Karim Lalji.
4 min read · 06 January 2017
Payfone, a U.S. mobile identity authentication platform, has closed a US$23.5 million Series E financing. The round was led by BlueCross BlueShield Venture Partners and Andrew Prozes with participation from both new and existing investors. The latter included Canadian mobile venture capital firm Relay Ventures and Rogers Venture Partners (RVP), the venture capital arm of Canadian communications and media company Rogers Communications Inc. Founded in 2008, New York-based Payfone helps enterprises fight identity theft and social engineering attacks, thereby curbing related fraud losses and verification expenses.
4 min read · 06 January 2017
Canada’s top 10 venture-capital financings in 2016 drew more than $1.1 billion from investors, more than twice the $534 million that went into the top 10 deals in 2015. That number is based on PE Hub Canada's list of the largest deals announced last year, supplemented by preliminary Thomson Reuters data. The list is headed by BlueRock Therapeutics, Thalmic Labs, DalCor Pharma and Real Matters, which were responsible for the biggest crop of $100 million-plus financings in Canada since the dot.com era.
3 min read · 06 January 2017
North American Substation Services LLC (NASS), a portfolio company of U.S. private equity firm Industrial Growth Partners (IGP), has acquired Nomos Systems Inc, a Québec City-based manufacturer of control cabinets for high-voltage electrical equipment, including transformers and breakers. NASS, a provider of mission-critical installation, maintenance and repair services for substation equipment, said the deal will broaden its service and product offering and deepen its relationships with utility customers. IGP acquired Altamonte Springs, Florida's NASS in December 2014.
2 min read · 05 January 2017
ATX Networks Corp, a Canadian portfolio company of U.S. private equity firm HIG Capital, has acquired Pico Digital Inc, a San Diego, California maker of distribution and customer premise equipment for satellite providers, cable companies and radio customers. No financial terms were released. Toronto-based ATX, a provider of video and broadband equipment solutions, said the deal will support its growth in the commercial video solutions business, and facilitate its entrance into the satellite and radio markets. ATX was acquired by HIG in mid-2015. Last September, the company bought InnoTrans Communications Inc.
4 min read · 05 January 2017
U.S. venture capital firm Versant Ventures, which this week closed its sixth life sciences fund at $538 million, has appointed Mary Haak-Frendscho to the role of venture partner based in Toronto. Haak-Frendscho, who joined Versant in 2016 as CEO of Toronto incubator Blueline Bioscience, will support the firm's efforts to build a Canadian biotech portfolio in partnership with academics and entrepreneurs. Versant also appointed Lloyd Segal, formerly a managing partner at Canadian healthcare private equity firm Persistence Capital Partners, as a Montréal-based entrepreneur-in-residence.
6 min read · 05 January 2017
Canadian private equity firm Novacap has wrapped up its sale of Oxford Networks, a U.S. fibre-optic bandwidth infrastructure services provider, to Oak Hill Capital Partners. The financial terms of the deal, announced last July, were not disclosed. Novacap acquired a majority stake in Oxford in 2014. Ted Mocarski, a senior partner at Novacap, said the company has more than doubled its revenue and profitability over the past two years. With the deal's closing, Oxford will be combined with FirstLight Fiber, which Oak Hill bought from Riverside Partners. Novacap, Bank Street Capital Partners and Riverside will invest in the new business as minority shareholders.
3 min read · 05 January 2017
Toronto medical device startup Exact Imaging has secured $21.5 million in a Series C financing. The round was co-led by Canadian venture capital firm Lumira Capital and Luxembourg's Vesalius Biocapital with participation from new investors, including PMV, and existing investors, including iGan Partners. With the financing, Lumira's Peter van der Velden, PMV’s Dr. Alexandra Tolia and Vesalius' Dr. Gaston Matthyssens will join the board. Founded in 2013 by Sam Ifergan and Randy AuCoin, Exact develops micro-ultrasound technology that enables real-time imaging and biopsy guidance for the prostate. It plans to use the funds raised to commercialize its new ExactVu system.
4 min read · 05 January 2017
Klipfolio, an Ottawa-based provider of dashboard software, has secured $12 million in a Series B financing. The round, which brings the company's total funding so far to $19.4 million, was led by OMERS Ventures. Additional round investors included BDC Capital, Mistral Venture Partners, Fundfire, BOLDstart Ventures, Acadia Woods and Converge Venture Partners. Launched as a cloud dashboard platform in 2011, Klipfolio helps businesses monitor their performance in real-time. It currently serves over 7,000 global customers. Led by President and CEO Allan Wille, Klipfolio will use the funds raised to enhance its product and expand its use.
3 min read · 05 January 2017
