British Columbia Investment Management Corp (bcIMC) has launched QuadReal Property Group, a private real estate company based in Vancouver. Owned by bcIMC, QuadReal will manage the Canadian pension fund's more than $18 billion in real estate assets. It is also mandated to acquire and grow real estate investments in Canada, as well as in new markets in the United States, Asia and Europe. The business will be led by Presidents Remco Daal and Jonathan Dubois-Phillips. Based in Victoria, British Columbia, bcIMC manages $123.6 billion in assets.
4 min read · 02 June 2016
Medella Health, a Canadian developer of smart contact lenses, has secured $1.4 million in seed-stage funding. The investors in the round included 1517 Fund, Fifty Years Fund, Garage Capital and BDC Capital. Founded in 2013 and led by CEO Harry Gandhi, Medella has designed a contact lens to help patients monitor and manage glucose levels via a mobile device. It plans to use the funds raised to scale its technology and partner with micro-fabrication companies, contact lens manufacturers, and healthcare providers. Medella Health is located in the startup work space of the University of Waterloo's Velocity Garage.
2 min read · 02 June 2016
Medella Health, a Canadian developer of smart contact lenses, has secured $1.4 million in seed-stage funding. The investors in the round included 1517 Fund, Fifty Years Fund, Garage Capital and BDC Capital. Founded in 2013 and led by CEO Harry Gandhi, Medella has designed a contact lens to help patients monitor and manage glucose levels via a mobile device. It plans to use the funds raised to scale its technology and partner with micro-fabrication companies, contact lens manufacturers, and healthcare providers. Medella Health is located in the startup work space of the University of Waterloo's Velocity Garage.
2 min read · 02 June 2016
Interstate Restoration LLC has closed its acquisition of FirstOnSite Restoration LP, a Canadian disaster restoration services provider. No financial terms were released for the buy, which was announced in April. Fort Worth, Texas-based Interstate, backed by U.S. private equity firm Delos Capital, said the deal has made it the second-largest independent company in its industry. FirstOnSite, which was backed by TorQuest Partners, a Canadian private equity firm, will continue to operate under its name and remain headquartered in Mississauga, Ontario, Interstate said.
2 min read · 02 June 2016
Titan Medical Inc (TSX: TMD), a Canadian robotic surgical technology company, has agreed to receive about $21 million (US$16 million) from Shanghai Jugu Equity Investment Fund, a Chinese private equity and venture capital firm. The investment, which will made in two tranches, will support Titan in the on-going development and commercialization of its SPORT system, a surgeon-controlled robotic platform designed for use in minimally invasive surgery. The Toronto-based company plans to introduce the system to markets in Europe and the United States over 2016-2017.
4 min read · 01 June 2016
Titan Medical Inc (TSX: TMD), a Canadian robotic surgical technology company, has agreed to receive about $21 million (US$16 million) from Shanghai Jugu Equity Investment Fund, a Chinese private equity and venture capital firm. The investment, which will made in two tranches, will support Titan in the on-going development and commercialization of its SPORT system, a surgeon-controlled robotic platform designed for use in minimally invasive surgery. The Toronto-based company plans to introduce the system to markets in Europe and the United States over 2016-2017.
4 min read · 01 June 2016
Total Specific Solutions BV (TSS), an affiliate of Constellation Software Inc (TSX: CSU), has acquired all of the shares of Vicrea Solutions BV, a Dutch software provider of GEO IT solutions for the local government sector. No financial terms were disclosed. TSS said the deal strengthens its position in the public sector vertical. Vicrea has been backed by Dutch private equity firm Synergia Capital Partners since 2011. Constellation, a Toronto-based acquirer, manager and builder of vertical market software companies, is a portfolio investment of OMERS Private Equity.
2 min read · 01 June 2016
Nudge Software Inc, a Toronto-based startup launched by Eloqua Founders Steve Woods and Paul Teshima, has obtained about $6.5 million (US$5 million) in seed funding. OMERS Ventures led the round with participation from existing individual investors, including Jill Rowley, Neal Dempsey and Brad Woloson. Established in 2014, Nudge provides a modern sales platform that leverages relationships to help business-to-business sales teams build stronger relationships with their best customers. It plans to use the funds raised to accelerate product development. Marketing automation software company Eloqua, which was also venture-backed, was acquired by Oracle for US$871 million in 2012.
4 min read · 01 June 2016
Hawk Exploration Ltd (TSX-V: HWK.A) has agreed to be acquired by Kaisen Energy Corp for about $16.1 million, including debt. The deal, which is supported by Hawk's board of directors and holders of 40.5 percent of the company's outstanding shares, is expected to close in mid-July. Based in Calgary, Hawk is a heavy oil producer focused on operations in western Saskatchewan. Calgary-based Kaisen, founded in early 2013, received an investment last November from Canadian energy private equity firm Azimuth Capital Management. Azimuth was formerly known as KERN Partners.
6 min read · 01 June 2016
Inocucor Technologies Inc, a developer of sustainable microbial crop accelerators, has raised an additional $6 million for its Series A funding. The total amount raised was not disclosed. Cycle Capital Management and Desjardins Innovatech, previously identified as the round's Canadian investors, were joined by U.S.-based Red Metal Capital and Closed Loop Capital, as well as a number of board members. Montréal-based Inocucor said the funds raised will back the commercial scale-up of its bio-stimulant product, Garden Solution, which is designed to improve crop yields. Founded in 2007, the company said it is planning for a follow-on round to open an office in the United States.
3 min read · 01 June 2016
