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
Silicon Valley creative computing platform Tynker has secured US$7.1 million in a Series A financing. The lead investors in the round included Krishna Bharat of Google News, Cervin Ventures, Felicis Ventures, New Ground Ventures, Reach Capital and Relay Ventures, a Canadian mobile venture capital firm. Founded in 2012, Tynker has designed technology to teach children programming skills and computational thinking. The Mountain View, Calif.-based company plans to use the funds raised for product development and further expansion into schools and districts outside of the United States and Canada.
4 min read · 01 June 2016
Telus Corp (TSX: T, NYSE: TU) has closed its sale of a 35 percent interest in Telus International, a provider of customer service, IT, and business process services, to Baring Private Equity Asia. The deal, announced last month, valued Telus International at $1.2 billion. Vancouver-based Telus said it received about $600 million in proceeds from the deal, which the company will now invest in the growth of its broadband wireline and wireless networks. Based in Hong Kong, Baring Asia manages committed capital of over US$10 billion.
3 min read · 01 June 2016
U.S. private equity firm JMC Capital Partners has bought Vertigo Digital Displays Inc, a Canadian designer, engineer and maker of integrated digital signage solutions and out-of-home media products. No financial terms were released for the acquisition, which was undertaken by JMC via its Milford, Mass.-based portfolio company, CIVIQ Smartscapes LLC. JMC's Michael D’Amelio said the deal will advance the company's strategy to provide a comprehensive portfolio of connected urban technologies. Founded in 2002, Vertigo will continue to operate from its Toronto headquarters under the CIVIQ banner.
2 min read · 01 June 2016
Canada's Premier Gold Mines Ltd has agreed to a US$45 million financing arrangement with Orion Mine Finance, a U.S. mining-focused private equity firm. The deal, which consists of US$30 million in credit and US$15 million in equity financing, includes an option for an additional US$400 million investment. The latter amount will provide for expansion of Premier's existing gold mining projects, as well as acquisitions. Orion will also purchase up to 20,000 ounces of refined gold annually from the company. Based in Thunder Bay, Ontario, Premier's exploration and development projects are located in mining districts in Canada and the United States.
7 min read · 01 June 2016
The private equity group of Brookfield Asset Management has wrapped up its fourth fund, raising US$4 billion earmarked for mid-market buyouts, turnarounds and other special situations. Brookfield Capital Partners IV’s total came in 14 percent above the fund’s original target of US$3.5 billion. BCP IV is Toronto-based Brookfield’s largest private equity fund to date, raising more money than all of its predecessors combined.
3 min read · 01 June 2016
3 min read · 01 June 2016
3 min read · 01 June 2016
Cairn Capital and Canada Pension Plan Investment Board (CPPIB) have agreed to buy a €180 million ($262 million) bond secured on properties owned by Globalworth Real Estate Investments Ltd, a European real estate investment firm. CPPIB's credit investments arm will acquire €150 million of the bond, with Cairn accounting for the rest. The bond is secured by prime real estate assets in Bucharest, Romania. London-based Cairn is a credit asset management, advisory and securities restructuring firm.
4 min read · 31 May 2016
Versature Corp, a Canadian phone solutions provider, has secured $1.15 million in funding. BDC Capital's Growth & Transition Capital provided $750,000 in subordinated debt, enabling an additional $400,000 in credit from the Royal Bank of Canada. Founded in 2003, Ottawa-based Versature provides cloud-based voice-over-Internet-protocol phone and communication solutions to businesses across Canada. It said the funds raised will support the company's continued growth by helping to expand its marketing and sales operations and target new strategic markets.
4 min read · 31 May 2016
