Mezzi Brand Group (TSX-V: MZI), a Canadian consumer accessory brand management company, has agreed to access a draw-down equity facility of up to $4 million. The investor is Alumina Partners, a U.S. private equity firm. Vancouver-based Mezzi, which specializes in luxury leather handbags and accessories, will use the proceeds of the deal to grow and scale its brands portfolio and potentially make acquisitions. The company is led by Chairman and CEO Keir Reynolds.
3 min read · 01 November 2016
Waterloo-based employee knowledge platform Axonify Inc has raised about $36 million (US$27 million) in growth equity funding. The round was co-led by U.S. growth equity firm JMI Equity and Canadian venture capital firm BDC Capital, an existing investor. Founded in 2011, Axonify is a provider of all-in-one SaaS technology that helps organizations to modernize their corporate learning and achieve specific outcomes. Carol Leaman, the company's president and CEO, said the funds raised will support Axonify's next phase of growth through accelerated customer acquisition, increased market profile, and an extended platform.
4 min read · 01 November 2016
BC Tech Fund has made an undisclosed commitment to Vanedge Capital II, the second information technology fund of Vancouver-based venture capital firm Vanedge Capital. The investment is the second to date for the $100 million BC Tech Fund, which was launched this month under the management of Kensington Capital Partners. Vanedge II, which is targeted to raise $200 million in total, held an initial close of $104 million in January. Vanedge Managing Partner Moe Kermani discussed the fundraising, as well as the firm's recent deals and track record, in a March interview with PE Hub Canada.
4 min read · 01 November 2016
Decisive Farming Corp, an Irricana, Alberta-based agricultural technology company, has raised $6 million in a Series A financing. The round was led by Canadian venture capital firm McRock Capital and joined by Export Development Canada. With the financing, McRock’s Whitney Rockley will join the company’s board. Led by CEO Remi Schmaltz, Decisive Farming delivers precision solutions and mobile and cloud software tools to crop farmers and agriculture service providers. Its flagship product, Optimize RX, uses soil analysis and GIS mapping to support the seeding and fertilizing of crops. Founded in 2011, Decisive Farming is also backed by the Accelerate Fund.
3 min read · 01 November 2016
Waterloo-based medical technology company Intellijoint Surgical Inc has secured $11 million in a Series A financing. The round was led by undisclosed private investors in the Waterloo-Toronto corridor, the company said. Founded in 2010 by CEO Armen Bakirtzian, CSO Richard Fanson and CTO Andre Hladio, Intellijoint is a developer of 3D mini-optical navigation solutions for surgery. The company's flagship product, intellijoint HIP, provides surgeons with intraoperative measurements to ensure positioning of orthopaedic implants. The funds raised will be used to enhance the product offering and expand its launch in U.S. markets.
3 min read · 01 November 2016
Canada's Public Sector Pension Investment Board (PSP Investments) has committed €500 million ($735 million) in seed capital to a new European credit platform. The platform, created by David Allen's AlbaCore Capital, will focus on private and public credit markets where there are inefficiencies in pricing, including high yield, leveraged loans and direct lending. PSP said it may deploy more capital in partnership with AlbaCore for specific deal opportunities. PSP launched a private debt strategy in November 2015. Earlier this year, the pension fund hired Oliver Duff to lead its strategy in Europe.
3 min read · 01 November 2016
ProMetic Life Sciences Inc (TSX: PLI) has closed its previously announced acquisition of Telesta Therapeutics Inc (TSX: TST), a venture-backed biopharmaceutical company based in Montréal. ProMetic, which is focused on plasma-derived therapeutics, said the deal provides strategic benefits, as well as about $34 million that will be invested in drug development and clinical programs. The Laval, Québec-based company also announced the close of a private placement deal with Structured Alpha LP, an investment vehicle of Peter Thomson. The proceeds were used to reduce debt.
5 min read · 31 October 2016
Aralez Pharmaceuticals Inc (TSX: ARZ) has acquired the U.S. rights to Toprol-XL, a blood pressure medication, and its authorized generic from AstraZeneca for $175 million. As part of the deal, AstraZeneca will continue to manufacture and supply the drug for at least ten years. The deal was funded through a senior secured debt facility with Deerfield Management, a U.S. healthcare investment firm. Deerfield also agreed to provide Aralez with up to $250 million for future acquisitions. Aralez, a Toronto-based specialty pharmaceutical company, was created this year in a merger funded by a Deerfield-led consortium.
9 min read · 31 October 2016
Meritas SRI Funds, managed by OceanRock Investments Inc, has made a commitment to the second sustainable food vehicle of Canadian venture capital firm InvestEco Capital Corp. No financial terms were released. InvestEco Sustainable Food Fund II, which will focus on expanding North American companies that promote health and sustainability in the food and agricultural industry, secured a commitment from The Co-operators Group Ltd in July. InvestEco's investments in the sustainable food sector include Toronto-based Mama Earth Organics, an organic food delivery service financed earlier this year.
4 min read · 31 October 2016
Canadian specialty lender Callidus Capital Corp (TSX: CBL) has selected Goldman, Sachs & Co as financial advisor to lead the company's privatization process. Toronto-based Callidus, which announced earlier this month it planned to solicit privatization proposals, said the process is now underway. It is expected to be completed by the second quarter of next year. Catalyst Capital Group, the company's majority owner, said it is not planning to sell its interest or bid for additional shares. Callidus also announced an increase in its substantial issuer bid and the expected close of its securitization program.
5 min read · 31 October 2016
