Canada's TD Bank Group was one of five commercial banks that invested in the Series E round of Transactis, a provider of electronic billing and payment solutions. TD, the other four banks, and Safeguard Scientifics each contributed an equal amount to the US$30 million round, which brings total funding of the New York-based Transactis to US$70 million. TD's Rick Burke said the investment "will help meet our customers' demand for leading electronic payment solutions across North America." Founded in 2001, Transactis is also backed by venture capital firms, including ff Venture Capital and Metamorphic Ventures.
7 min read · 19 April 2016
Thirdshelf, a Montréal-based loyalty marketing software provider, has received $800,000 in seed-stage financing. The investors included Canadian venture capital firm iNovia Capital, Interaction Ventures and Otimo Ventures. Several angel investors also participated. Founded in 2014, Thirdshelf has created a cloud-based platform that allows independent retailers to deploy data-driven customer loyalty programs. The company said it would use funds raised to add retailers to the platform, continue developing its technology, and forge more partnerships.
4 min read · 19 April 2016
The Caisse de dépôt et placement du Québec (CDPQ) has invested $28.3 million in Spectra Premium Industries Inc as part of a transfer of share ownership in the company. CDPQ was joined in the deal by Fondaction CSN, which invested $15 million. The Fonds de solidarité FTQ, Spectra's lead investor, also contributed $2 million. As a result, Jacques Mombleau, who heads the company, remains a shareholder, while Spectra vice presidents become shareholders. Boucherville, Québec-based Spectra is an automotive parts manufacturer and distributor. It is also backed by Capital régional et coopératif Desjardins.
5 min read · 19 April 2016
DalCor Pharmaceuticals, a Canadian developer of precision treatments for cardiovascular disease, has secured US$100 million ($127 million) in a Series B financing. The investment, which follows a US$50 million Series A round last year, was backed by U.S. venture capital firm Sanderling Ventures and Canadian businessman André Desmarais. They were joined by several new investors, including the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and CTI Life Sciences. With the deal, the Caisse's Stéphane Etroy has joined the company's board. Montréal-based DalCor said the funds raised will support a Phase 3 clinical trial of dalcetrapib, a drug intended to reduce cardiovascular events in a genetically distinct subset of patients.
4 min read · 19 April 2016
Ontario Teachers' Pension Plan has agreed to sell its interest in ANV Holdings BV, a specialty insurance and reinsurance company based in London, United Kingdom. The buyer in the deal, AmTrust Financial Services Inc (Nasdaq: ASFI), has agreed to pay US$218.7 million in cash for the company. In addition, AmTrust will support ANV’s Funds at Lloyd’s, including replacing of Ontario Teachers’ participation. The deal is expected to close by the end of 2016. ANV was acquired by Ontario Teachers in 2012. The pension fund has since been the company's lead investor.
2 min read · 19 April 2016
FusionOps, a provider of cloud-based analytics applications for the supply chain, has raised US$25 million in a Series C financing. The round was led by Canadian growth equity firm Georgian Partners with participation from the company's existing investors, including New Enterprise Associates and Prabhu Goel, FusionOps' chairman. With the round's close, Tyson Baber, a principal at Georgian Partners, will join the company's board. Mountain View, Calif.-based FusionOps said it will use the funds raised to advance its market leadership, expand international sales operations, and continue investing in customers.
3 min read · 19 April 2016
The Caisse de dépôt et placement du Québec has introduced changes to its investment model to address new market trends. They include consolidation of Caisse investments in public and private companies under CIO Roland Lescure. Additionally, infrastructure investment activity will be grouped under the recently established CDPQ Infra. Caisse President and CEO Michael Sabia said the reorganization will support the selection of high-quality assets and a greater focus on the operations of portfolio companies. It will also better align investment decisions with the Caisse's long-term goals.
4 min read · 18 April 2016
Mobify, which earlier this year raised $10 million in funding, has acquired Pathful, a Vancouver-based provider of advanced machine learning technology for behaviour-based targeting. No financial terms were disclosed for the acquisition, the company's second following its buy of Dónde in December. Mobify, a mobile customer engagement platform, said the deal will lend insights into the needs and wants of online and retail audiences. Founded in 2007, Vancouver-based Mobify is backed by Acton Capital Partners. Pathful received funding from Foundry Group, Angel List, Drummond Road Capital and G2T3V.
3 min read · 18 April 2016
Federal regulators have approved the sale of Capstone Infrastructure Corp (TSX: CSE), a Canadian infrastructure investment firm, to an affiliate of U.K.-based iCON Infrastructure LLP. The deal, announced in January, has an equity value of about $480 million and is expected to close by the end of this month. Based in Toronto, Capstone invests in a range of infrastructure assets, including power, utilities, transportation and public-private partnerships.
7 min read · 18 April 2016
Mister Car Wash, a portfolio company of Canadian private equity firm Penfund, has acquired seven Venture Car Washes, which has store locations across Mississippi. No financial terms were released. The deal gave Tucson, Arizona-based Mister Car Wash access to the Mississippi market and increased its operations to 172 car washes and 32 lube centers in 20 states. Penfund invested US$15.1 million of debt and equity in Mister Car Wash in 2014, not long after it was bought by Leonard Green & Partners. The company was previously owned by ONCAP.
2 min read · 18 April 2016
