Kew Media Group Inc has closed its initial public offering of Class A restricted voting units at $70 million. The offering, the size of which may increase via an over-allotment option granted to underwriters, will create a special purpose acquisition corporation (SPAC). Toronto-based Kew Media intends the SPAC to focus on one or more acquisitions of small-to-medium sized media production, distribution and talent management opportunities in North America and the United Kingdom. Torys Partner John Emanoilidis wrote about the recent rise of SPACs in Canada in a PE Hub Canada feature article published in December.
4 min read · 13 June 2016
SureWerx, a portfolio company of Canadian private equity firm Penfund, has bought KP Industries Inc, an Old Mission, Michigan-based designer and maker of knee and elbow guards. No financial terms were released. SureWerx, a supplier of professional tools, equipment and safety products, said the acquisition aligns with its strategy of adding to its existing safety solutions in Canada, and expanding its portfolio and reach in the United States. Based in Vancouver, SureWerx rebranded in March from its prior name JET Group. Penfund acquired the business in 2012.
3 min read · 13 June 2016
Toronto-based security analytics startup Rank Software Inc has raised undisclosed equity financing. The round's investors included Exiger, a New York-based regulatory and financial crime, risk and compliance services provider. Exiger was joined by Generation Ventures, MaRS Investment Accelerator Fund, Export Development Canada and Trellis Capital. Founded in 2013, Rank has leveraged big data analytics to develop cyber security solutions for the financial services, healthcare, government, energy and telecom industries. It said the partnership with its strategic and venture capital investors would help catalyze the company's growth.
3 min read · 13 June 2016
Toronto-based security analytics startup Rank Software Inc has raised undisclosed equity financing. The round's investors included Exiger, a New York-based regulatory and financial crime, risk and compliance services provider. Exiger was joined by Generation Ventures, MaRS Investment Accelerator Fund, Export Development Canada and Trellis Capital. Founded in 2013, Rank has leveraged big data analytics to develop cyber security solutions for the financial services, healthcare, government, energy and telecom industries. It said the partnership with its strategic and venture capital investors would help catalyze the company's growth.
3 min read · 13 June 2016
Alberta Investment Management Corp (AIMCo) has entered into a strategic financing partnership with Calfrac Well Services Ltd (TSE: CFW), a Canadian pressure pumping services provider. No financial terms were disclosed. Calgary-based Calfrac is focused on North America's unconventional natural gas and light oil plays plus specific international markets. It currently services wells drilled in Western Canada, the United States, Russia, Argentina and Mexico. Based in Edmonton, AIMCo manages more than $90 billion in assets on behalf of its pension and other institutional clients.
3 min read · 13 June 2016
U.S. private equity firm Warburg Pincus has appointed Jim Prentice as an industry advisor in its energy group. In the role, Prentice will help Warburg Pincus identify and evaluate Canadian investment opportunities. Prentice joined the firm after spending nearly four decades in politics and industry. Most recently he was the 16th premier of Alberta. He also held a variety of senior federal cabinet posts between 2006 and 2010. New York-based Warburg Pincus has extensive investments in Canada's oil and gas industry. Its most recent deals include a February 2016 investment in RimRock Oil & Gas.
3 min read · 13 June 2016
Montréal-based seed investor TandemLaunch is unique in North America’s venture community. Founded by General Partner Helge Seetzen in 2010, the firm builds synthetic companies that respond to emerging tech trends. The result of its mammoth efforts is a portfolio of fascinating Canadian startups. In May, TandemLaunch initially closed its third seed fund at $12 million. PE Hub Canada sat down with Seetzen to talk about the fund, TandemLaunch’s investment strategy, and its portfolio.
3 min read · 12 June 2016
Montréal-based seed investor TandemLaunch is unique in North America’s venture community. Founded by General Partner Helge Seetzen in 2010, the firm builds synthetic companies that respond to emerging tech trends. The result of its mammoth efforts is a portfolio of fascinating Canadian startups. In May, TandemLaunch initially closed its third seed fund at $12 million. PE Hub Canada sat down with Seetzen to talk about the fund, TandemLaunch’s investment strategy, and its portfolio.
3 min read · 12 June 2016
The city of Montréal and the Québec government have partnered with private investors to form a new group focused on Montréal's innovative startups. Capital Intelligent Mtl will draw on $100 million made available by 23 venture capital firms, financial institutions and corporations. It will target financings to the local adoption of digital technologies and the development of innovative projects. The new group's founding members include Québecor, Fonds de solidarité FTQ, Fondaction CSN, Caisse de dépôt et placement du Québec, BDC Capital, Desjardins Entreprises and Teralys Capital.
4 min read · 10 June 2016
Canadian investment firm Tectoria Venture Partners recently released its study of the technology ecosystem in Victoria, British Columbia. The study points to "a significant increase in startup activity in recent years" and more than $31.5 million of direct angel investment over the past five years. Most entrepreneurs in the region have nonetheless reported challenges to raising capital. Tectoria said these findings have convinced it to create an angel fund of $20 million to $30 million targeted to opportunities in Victoria. The firm plans to launch the fund later this year.
4 min read · 10 June 2016
