Desjardins Group has named Luc Ménard as chief operating officer of Desjardins Business Capital régional et coopératif. Ménard held the position on an interim basis following the June appointment of Marie-Claude Boisvert to senior vice-president, business services, at Desjardins, a Lévis, Québec-based financial co-operative. Ménard joined Business Capital régional et coopératif in 2007 and served in a variety of executive capacities, most recently as vice-president, investments. In his new role, he will oversee Desjardins' private equity and venture capital funds: Capital régional et coopératif Desjardins, Capital Croissance PME and Desjardins-Innovatech.
2 min read · 04 August 2016
Canadian workplace health platform Sprout has secured undisclosed financing. The round, which adds to funds raised in May 2015, was backed by existing investor Telus Ventures and the venture capital arm of Techstars, a U.S. startup accelerator. Based in Toronto and Vancouver, Sprout provides technology-based tools for encouraging employees to follow active lifestyles, as well as tools to help employers measure wellness impacts. It plans to use its partnership with Telus and Techstars to pursue continued growth. Sprout was founded in 2011 by COO Christina Ford and CMO Martha Switzer.
3 min read · 04 August 2016
Canadian private equity firm Sprott Resource Corp has sold shares in Stonegate Agricom Ltd, a Toronto-based acquirer and developer of agricultural nutrient projects. The interest sold, said to represent about 16.7 percent of Stonegate's total issued and outstanding common shares, gave the investor gross proceeds of about $1.2 million. Another investor, Zaff 2 LP, announced it acquired a comparably-sized stake.
3 min read · 04 August 2016
Startup Canada has partnered with Evolocity Financial Group to launch the Startup Canada Women Founders Fund. The fund, the size of which was not disclosed, will provide micro-grants to women entrepreneurs and women-led companies across Canada. Applications for grants are open until August 31st. Recipients will also have access to Startup Canada's network, where they can obtain exposure, skills training, mentoring and support. Based in Montréal, Evolocity is a provider of small business financing.
4 min read · 04 August 2016
Vestaron Corp, a U.S. biological insecticide company, has secured US$18 million in a Series D financing. The round was backed by existing investors, including Pangaea Ventures, a Canadian venture capital firm. Based in Kalamazoo, Michigan, Vestaron develops safe and effective bio-insecticides derived from naturally occurring peptides for agricultural and other applications. The company plans to use the funds raised to expand its research and development activity. Pangaea General Partner Keith Gillard is Vestaron's chairman.
3 min read · 04 August 2016
Toronto-based home maintenance app Jiffy has raised $1 million in funding, adding to the $550,000 seed-stage round closed by the startup last fall. Backers of the latest round included Canadian technology investment firm Hedgewood and angel investors Bert Amato, Bryan Kerdman and the Kimel family. Founded last year by Paul Arlin, Jaimie Grossman and Ryan Shupak, Jiffy is an on-demand platform that connects homeowners with home service professionals in real-time. It plans to use the proceeds of the investment to expand its local presence and launch in the Chicago market.
2 min read · 04 August 2016
Canadian data-driven biotechnology startup Sequence Bio has obtained about $3.9 million (US$3 million) in seed-stage financing. The round was led by U.S. venture capital firm Data Collective (DCVC). It was joined by existing backers Killick Capital, Venture NL and Klister Credit Corp, several of which invested in a prior $1 million round closed in October 2015. Founded in 2013 by CEO Tyler Wish and COO Chris Gardner, Sequence Bio is leading a 100,000-person genome research project in Newfoundland and Labrador that is intended to create a new data resource for therapeutic discovery and development. The company has its headquarters in St. John's.
4 min read · 03 August 2016
Canada Pension Plan Investment Board (CPPIB) has made a US$280 million investment in convertible preferred equity securities of the parent company of Advanced Disposal Services Inc. Based in Ponte Vedra, Florida, Advanced Disposal is the fourth-largest solid waste business in the United States, providing collection, transfer, disposal and recycling services in 16 states and the Bahamas. CPPIB said the company's organic growth may in future be supplemented by acquisitions. Founded in 2001, Advanced Disposal is majority-owned by U.S. infrastructure investment firm Highstar Capital. Highstar first invested in September 2007.
2 min read · 03 August 2016
Canadian private equity firm Priviti Capital Corp has appointed Greg Bay as a director. Bay is president and founding partner of Cypress Capital Management, a Canadian boutique money manager affiliated with AGF Management Ltd. Based in Calgary, Priviti invests in the domestic energy industry.
1 min read · 03 August 2016
StorageVault Canada Inc has agreed to acquire the self-storage assets of a Calgary-based business for $14.9 million. The deal, expected to close by October 31st, brings the company's announced and closed deals in fiscal 2016 to about $50 million. StorageVault said it is also in negotiations with Access Self Storage Inc, a StorageVault shareholder, to buy about $45 million of assets in Ontario and Québec. Based in Regina, StorageVault is an owner and operator of storage facilities across Canada. It is a portfolio investment of SaskWorks Venture Fund, an affiliate of Canadian private equity firm PFM Capital.
6 min read · 03 August 2016
