Caisse de dépôt et placement du Québec has invested an additional $14.3 million in Stingray Digital Group Inc, a Canadian multi-platform music and in-store media solutions provider. The deal was in part a repurchase of shares sold by Telesystem Ltd. Telesystem, a long-time backer of Stingray, previously announced it generated about $30.8 million in proceeds from a secondary offering. Montréal-based Stingray raised nearly $180 million in an initial public offering last year. It continues be a portfolio company of Canadian private equity firm Novacap and other investors.
3 min read · 21 June 2016
GreenMantra Technologies, a producer of specialty chemicals from recycled plastic feedstocks, recently raised $5.5 million in follow-on financing. The investment, the first tranche of a larger round of funding, was backed by the company's existing investors: Canadian venture capital firms ArcTern Ventures and Cycle Capital. Kousay Said, GreenMantra's president and CEO, said the proceeds of the round will fund a next stage of growth for the company, primarily to bring several new products to market and provide working capital. The Brantford, Ontario-based company raised $17 million in a series of financings in 2014.
3 min read · 21 June 2016
GreenMantra Technologies, a producer of specialty chemicals from recycled plastic feedstocks, recently raised $5.5 million in follow-on financing. The investment, the first tranche of a larger round of funding, was backed by the company's existing investors: Canadian venture capital firms ArcTern Ventures and Cycle Capital. Kousay Said, GreenMantra's president and CEO, said the proceeds of the round will fund a next stage of growth for the company, primarily to bring several new products to market and provide working capital. The Brantford, Ontario-based company raised $17 million in a series of financings in 2014.
3 min read · 21 June 2016
Canadian lifestyle and performance apparel maker Coalision Inc has secured $21 million in financing. The deal was led by Lune Rouge, a firm controlled by Guy Laliberté, founder of Cirque du Soleil. It was joined by the company's existing investors and lenders, including Simon Equity Partners, members of the Hermes family, and Fonds de solidarité FTQ. Montréal-based Coalision said the financing will support the growth, marketing and development of its brands, including women's activewear brand Lolë. Coalision was sold to an investor group led by the company's CEO Bernard Mariette by Kilmer Capital Partners in April 2014.
3 min read · 21 June 2016
Envirosystems Inc, a portfolio company of Canadian private equity firm TorQuest Partners, has bought the Victoria Treatment Facility, a Victoria, B.C.-based handler of waste streams generated by shipyards, cruise ships, freighters, tankers and other marine vessels. No financial terms were released. The seller in the deal was Tervita Corp. Envirosystems, a provider of industrial and environmental services headquartered in Dartmouth, Nova Scotia, said the deal is part of a strategy to expand the company's service footprint and range of offerings. TorQuest acquired Envirosystems in early 2015. Tervita is backed by CAI Private Equity and other investors.
2 min read · 21 June 2016
TVM Capital Life Science has made an undisclosed investment in Mediti Pharma Inc, a Montréal-based developer of a treatment for Alzheimer’s disease psychosis. The company, which is led by CEO Dr. Ivan Shaw and CFO Mark Cipriano, plans to use the proceeds of the financing to develop MP-101, a Phase 2-ready clinical compound originally discovered by Eli Lilly and Co. TVM Capital Life Science, which has offices in Munich, Germany and Montréal, made the investment via TVM Life Science Ventures VII, which raised US$201.6 million in October 2014.
4 min read · 21 June 2016
TVM Capital Life Science has made an undisclosed investment in Mediti Pharma Inc, a Montréal-based developer of a treatment for Alzheimer’s disease psychosis. The company, which is led by CEO Dr. Ivan Shaw and CFO Mark Cipriano, plans to use the proceeds of the financing to develop MP-101, a Phase 2-ready clinical compound originally discovered by Eli Lilly and Co. TVM Capital Life Science, which has offices in Munich, Germany and Montréal, made the investment via TVM Life Science Ventures VII, which raised US$201.6 million in October 2014.
4 min read · 21 June 2016
Brookfield Asset Management has completed the spin-off of Brookfield Business Partners LP (BBU), a listed vehicle that allows shareholders to invest directly in the Toronto-based firm's private equity portfolio. The spin-off, accomplished by a special US$500 million distribution, resulted in BBU's initial trading today on the Toronto Stock Exchange and the New York Stock Exchange under the symbols BBU.UN and BBU, respectively. Shareholders now own a 22 percent interest in the vehicle, with Brookfield holding the balance. As reported earlier this month by PE Hub Canada, Brookfield recently closed its fourth private equity fund at US$4 billion.
6 min read · 20 June 2016
The Canadian affiliate of U.K. insurance firm Aviva plc plans to host a first-ever Pitch Day event in Toronto on October 11, 2016. Through a selection process, the top 10 Canadian digital startup submissions will pitch to a panel of Aviva advisors to be considered for an investment of up to $10 million. The potential investment will be made by Aviva Ventures, Aviva's corporate venture capital fund. The fund is currently investing $180 million over the next five years in digital companies located around the globe.
3 min read · 20 June 2016
The Canadian affiliate of U.K. insurance firm Aviva plc plans to host a first-ever Pitch Day event in Toronto on October 11, 2016. Through a selection process, the top 10 Canadian digital startup submissions will pitch to a panel of Aviva advisors to be considered for an investment of up to $10 million. The potential investment will be made by Aviva Ventures, Aviva's corporate venture capital fund. The fund is currently investing $180 million over the next five years in digital companies located around the globe.
3 min read · 20 June 2016
