The Fonds immobilier de solidarité FTQ, an affiliate of the Fonds de solidarité FTQ, and Anges Québec have joined forces to provide funding and coaching to Québec real estate developers. Over the next 18 months, the partners will back residential, commercial, office or industrial projects ranging from $5 million to $25 million. Fonds immobilier and Anges Québec said the initiative will support new and existing developers interested in launching construction projects, but which lack the necessary resources.
3 min read · 29 November 2016
Worximity Technology Inc has raised $2 million in funding, adding to the $2 million raised in the company's seed round last year. The latest financing was backed by existing investors, W3 Investments and Fonds de solidarité FTQ, as well as a new investor, BDC Capital. Montréal-based Worximity provides connectivity solutions that enable factory managers and workers to monitor production in real time. Since it was founded in 2011 by President Yannick Desmarais, the company reports helping to improve the performance of over 500 North American production lines. It will use the funds raised to advance development of its monitoring technology.
5 min read · 29 November 2016
Toronto-based digital insurance company Zensurance has secured $1 million in a seed-stage financing. The round was led by Canadian venture capital firm Ferst Capital Partners with participation from Portag3 Ventures and other investors. Founded this year by CEO Danish Yusuf and CTO Sultan Mehrabi, Zensurance provides curated commercial insurance packages to small enterprises. It plans to use the funds raised to hire new talent and build its business. Zensurance was this month named one of 2016's 20 most innovative companies by the Canadian Innovation Exchange.
3 min read · 29 November 2016
FileFacets, an Ottawa data analytics and content migration company, has raised $4 million in a Series A financing. Canadian venture capital firm Celtic House Venture Partners led the round and was joined by Wesley Clover International and GCI Ventures. Led by Co-Founder and CEO Chris Perram, FileFacets has developed a software-as-a-service (SaaS) technology platform that helps organizations to move large volumes of disorganized files from shared drives to enterprise content management systems. It will use the funds raised to expand its sales and marketing team in North America and accelerate growth of its channel sales strategy.
5 min read · 29 November 2016
N. Harris Computer Corp, an affiliate of Constellation Software Inc (TSX: CSU) has acquired all of the shares of I.M.D. Soft Ltd (iMDsoft) a U.S. clinical information systems software provider. No financial terms were disclosed. Harris said the acquisition adds to its international customer base and provides a proven sales distribution network. Needham, Massachusetts-based iMDsoft was acquired by U.S. private equity firm TPG in mid-2012. Toronto's Constellation is an acquirer, manager and builder of vertical market software companies.
2 min read · 28 November 2016
Bermuda-based retirement services company Athene Holding Ltd has launched an initial public offering of its Class A common shares on the New York Stock Exchange. The shares are expected to be priced at between US$38 and US$42 apiece. At the upper end of its pricing range, the offering would raise US$997.5 million and value the company at about US$7.8 billion, Bloomberg reported. Athene, one of the largest fixed annuity companies in the United States, is backed by Apollo Global Management and Ontario Teachers' Pension Plan, among other investors.
4 min read · 28 November 2016
U.S. logistics services company Transplace Inc has bought Lakeside Logistics Inc, an Oakville, Ontario provider of customized managed transportation services and solutions. No financial terms were disclosed for the acquisition, which will see Lakeside become part of its acquirer's transportation management business. Transplace, which is based in Frisco, Texas, said the deal expands its geographic footprint in Canada. Transplace is owned by Greenbriar Equity Group, a U.S. private equity firm. Greenbriar bought the company from CI Capital Partners in May 2013.
3 min read · 28 November 2016
Canadian private equity firm Newlook Capital has acquired all of the assets and operations of MultiGas Detection and Instrumentation Services Ltd, a Leduc, Alberta-based provider of gas detection equipment, gas detection calibration and technical design services. No financial terms were released. Newlook made the investment via its Newlook Capital Industrial Services LP, which earlier this month secured a commitment from Portland Investment Counsel Inc. Toronto’s Newlook said the MultiGas deal is strategic and will help it expand its industrial services portfolio.
2 min read · 28 November 2016
Online investment platform CoPower has received $300,000 from Fondaction CSN, a Québec private equity and venture capital firm. The commitment will help Montréal's CoPower to "scale quickly and strategically" in its mission to facilitate investment in energy efficiency and renewable energy generation projects, CEO David Berliner said. CoPower, which last year secured seed funding from Innovation Support and RBC, has so far deployed nearly $6 million to project loans across North America. Earlier in 2016, the firm issued its first green bond.
3 min read · 25 November 2016
Canadian copper producer Excelsior Mining Corp (TSX-V: MIN) has closed a funding deal with U.K. mining and metals private equity firm Greenstone Resources. The deal, which consists of a private placement of common shares and royalty financing, provided the company with gross proceeds of US$14 million. As a result of the private placement, Greenstone now holds about 50.4 percent of Excelsior’s issued and outstanding shares. Vancouver-based Excelsior said the transaction's net proceeds will be used for continued development of its Gunnison Copper Project in Arizona and other priorities.
4 min read · 25 November 2016
