The regional network of the Fonds de solidarité FTQ has invested a total of $3.75 million in the past year in four business transfer deals in the Québec City area. The ownership changes involved LGT, a provider of engineering and energy efficiency consulting services; Métal Potvin, a manufacturer of sheet metal and steel mouldings; Cristal Contrôles, a maker of energy management, lighting, temperature and humidity control systems; and Graphica Impression, a digital printing centre. The Fonds régionaux de solidarité FTQ has invested $60 million in 85 projects in Québec City since 1996.
4 min read · 17 June 2016
Response Biomedical Corp (TSX: RBM) has agreed to be acquired by an affiliate of U.S. health investment firm OrbiMed Advisors and China's Shanghai Runda Medical Technology Co Ltd. The deal will see certain Response investors receive a cash consideration of $1.12 per share and result in the delisting of the company. Shareholders are expected to vote on the proposal by October 17. Vancouver-based Response, a maker of rapid on-site diagnostic tests, is an existing portfolio investment of OrbiMed. The latter currently holds a 50.1 percent interest. As part of the take-private deal, OriMed and Shanghai Runda have agreed to provide the company with about US$1 million in funding.
10 min read · 17 June 2016
New York-based advertising technology company Collective has raised US$34 million in follow-on funding. The round was led by Columbia Partners and was joined by Accel Partners, Greycroft and Canadian venture capital firm iNovia Capital. Founded in 2005, Collective offers enterprises data-driven and programmatic solutions to unify digital advertising across platforms, screens and formats. Joe Apprendi, the company's founder and CEO, said the latest investment will allow Collective to accelerate the roll-out of new product features and functionality later this year and in 2017.
3 min read · 17 June 2016
Onex Corp said it is preparing for the launch of its fourth mid-market private equity fund now that ONCAP III is approaching full investment. In its report of first-quarter 2016 results, Toronto-based Onex said it is “now in a position” to raise ONCAP IV as its predecessor was more than 75 percent invested as of March 31st. ONCAP III collected $800 million in a final close in September 2011.
2 min read · 16 June 2016
Canadian real estate technology platform Real Matters Inc has appointed Blaine Hobson its new chairman. Hobson, a partner at Canadian venture capital firm Whitecap Venture Partners, has been a long-standing director of the company. Whitecap led Real Matter's seed funding in 2007 and has participated in most of the company's investments since then, including the $100 million round announced in April. Hobson also represents Whitecap on the board of directors of portfolio company Qvella, a molecular diagnostics company.
4 min read · 16 June 2016
Canadian real estate technology platform Real Matters Inc has appointed Blaine Hobson its new chairman. Hobson, a partner at Canadian venture capital firm Whitecap Venture Partners, has been a long-standing director of the company. Whitecap led Real Matter's seed funding in 2007 and has participated in most of the company's investments since then, including the $100 million round announced in April. Hobson also represents Whitecap on the board of directors of portfolio company Qvella, a molecular diagnostics company.
4 min read · 16 June 2016
3 min read · 16 June 2016
Graphite Software has raised $8 million in a Series B financing. The oversubscribed round was led by investors from Beijing-based Zhongguancun Private Equity & Venture Capital Association. They were joined by Green Century Investment and Celtic House Venture Partners, which led the company's $4.4 million Series A round in June 2013. Ottawa-based Graphite is the creator of Secure Spaces, an Android virtualization solution that enables user experiences while protecting privacy and security. The company, which recently opened an office in China, will use the funds raised to expand its team and accelerate growth in the mobile device market.
5 min read · 16 June 2016
Graphite Software has raised $8 million in a Series B financing. The oversubscribed round was led by investors from Beijing-based Zhongguancun Private Equity & Venture Capital Association. They were joined by Green Century Investment and Celtic House Venture Partners, which led the company's $4.4 million Series A round in June 2013. Ottawa-based Graphite is the creator of Secure Spaces, an Android virtualization solution that enables user experiences while protecting privacy and security. The company, which recently opened an office in China, will use the funds raised to expand its team and accelerate growth in the mobile device market.
5 min read · 16 June 2016
Human resources software provider Qimple has secured $1.1 million in seed-stage financing. New Brunswick Innovation Foundation led the round, with participation from Green Century Investment, a Canadian private equity and venture capital firm. Based in Moncton, New Brunswick, Qimple provides an online hiring platform to improve the way employers and job-seekers interact. It plans to use the proceeds of the seed round to hire more team members and pursue growth. Founded in 2014 by CEO Yves Boudreau and CTO Benoit Bourque, Qimple was previously funded by 500 Startups and BDC Capital.
5 min read · 16 June 2016
