Canadian venture capital firm Campfire Capital recently led the $5 million Series A financing of FIGS, a Los Angeles-based medical apparel company. Founded in 2013, FIGS provides premium technical apparel via an e-commerce platform to the medical scrubs industry. It said funds raised will help increase inventory to meet demand, expand new product categories, and scale its team. FIGS has previously received funding from U.S. investors, including Mohr Davidow Ventures, Irving Place Capital and 500 Startups. Campfire was founded in 2014 with the support of current and former Lululemon executives and other backers to invest in retail technology startups.
3 min read · 11 May 2016
Serruya Private Equity (SPE) has committed to invest up to $50 million in an initial deal by Committed Capital Acquisition Corporation II (CCAQ), a New York-based blank check company. As result, Aaron Serruya will join the company's board of directors. CCAQ was formed in May 2011 to acquire one or more operating businesses or assets. SPE is a Markham, Ont.-based firm that oversees the consumer brand investments of the Serruya family. SPE's recent acquisitions include Sani-Service and Tivoli Audio.
3 min read · 11 May 2016
Canada's Cooke Aquaculture Inc has agreed to acquire Icicle Seafoods Inc, a seafood products processor based in Seattle, Washington. No financial terms were disclosed for the deal, which is expected to close within 30 days. Cooke, a family-owned aquaculture business headquartered in Saint George, New Brunswick, said the deal will make it a leader in the U.S. salmon farming industry, and a major player in the Alaskan salmon fishery. Icicle said it will gain capital to modernize its platform, expanded market access, and a broader product offering. Icicle has been a portfolio company of U.S. private equity firm Paine & Partners since September 2007.
4 min read · 11 May 2016
Novacap, one of Canada’s oldest private equity firms, has surpassed the target set for the final close of Novacap Industries IV, raising the largest partnership in its history. Montréal-based Novacap announced on Wednesday that Fund IV secured $470 million in committed capital. That’s 11 percent more than the fund’s goal of $425 million.
3 min read · 11 May 2016
Reno Sub-Systems Inc has received about $18.1 million (US$14 million) in a Series B financing. MKS Instruments Inc (NASDAQ: MKSI), a U.S. provider of instruments, sub-systems and process control solutions, led the round with a US$9.3 million strategic investment. It was joined by Intel Capital, which backed the company's November 2014 round, and an undisclosed strategic investor. Bedford, Nova Scotia-based Reno develops technologies for the semiconductor and advanced microelectronic industries. Bob MacKnight, CEO of Reno, said the funds raised will accelerate the company's time-to-market strategy. Canadian venture capital firm Innovacorp also backs Reno.
3 min read · 10 May 2016
The Accelerate Fund has made an undisclosed investment in Circle Cardiovascular Imaging Inc, a Calgary-based developer and marketer of cardiac-image analytical software. The investment forms part of the company's latest fundraising, originally announced in March, which also saw investments by BDC Capital and Epic Capital Management. The Accelerate Fund is an angel co-investment fund managed by Canadian venture capital firm AVAC.
2 min read · 10 May 2016
The Accelerate Fund has made an undisclosed investment in Circle Cardiovascular Imaging Inc, a Calgary-based developer and marketer of cardiac-image analytical software. The investment forms part of the company's latest fundraising, originally announced in March, which also saw investments by BDC Capital and Epic Capital Management. The Accelerate Fund is an angel co-investment fund managed by Canadian venture capital firm AVAC.
2 min read · 10 May 2016
WealthBar, a Vancouver-based online wealth manager, has raised $5.5 million in funding. The round was led by Nicola Wealth Management, a Canadian high-net-worth investment firm, and joined by other backers, including investor Howard Atkinson and Paul Geyer, CEO of LightIntegra Technology. WealthBar, which was launched in 2012, combines technology with advisory capacity to provide low-cost financial planning and wealth management to investors. It said it plans to use funds raised to expand the company's reach and create new service offerings, including a platform for independent financial advisors and firms.
3 min read · 10 May 2016
Canadian education technology startup FreshGrade has secured $11.6 million in a Series A financing. The round was led by Canadian venture capital firm Relay Ventures with participation from Reach Capital, Accel Partners and Emerson Collective. Based in Kelowna, British Columbia, FreshGrade provides an educational resource for teachers, parents and administrators that allows for maximum classroom engagement and real-time assessment. Founded in 2011 by CEO Lane Merrifield and Steve Wandler, the company's technology is today used in 70 countries. FreshGrade's Series A round brings its total fundraising so far to $15.9 million.
4 min read · 10 May 2016
Axia NetMedia Corp (TSX: AXX) has received shareholder approval for the company's acquisition by Digital Connection (Canada) Corp, an affiliate of Swiss private equity firm Partners Group. The deal, announced in March, will see Partners Group take Axia private for $4.25 per share, reflecting a total equity value of $272 million. Based in Calgary, Axia owns, operates and sells services over fibre optic communications infrastructure.
5 min read · 09 May 2016
