Real Matters secured the most money in a private tech financing in almost three years by tapping public-market investors eager to share in the company’s growth in advance of an IPO. The cloud-based real estate technology platform raised $100 million in common equity this month. It is the largest investment involving a privately-held Canadian tech company since late 2013, when Shopify closed its $100 million Series C round.
3 min read · 18 April 2016
The cloud-based real estate technology platform has now raised $156 million in advance of a possible IPO
3 min read · 15 April 2016
U.S. private equity firm Industrial Opportunity Partners (IOP) has invested in the recapitalization of Moulure Alexandria Moulding Inc, a Canadian maker of wood mouldings and related millwork products for residential housing markets in North America. No financial terms were released for the deal, which is being done in partnership with Alexandria's management, including President and CEO Andre Cholette. Based in Alexandria, Ontario, the company operates a local manufacturing and distribution facility, as well as facilities elsewhere in Canada and the United States. With the deal, Dave Mackin, an IOP operating principal, will become Alexandria's chairman.
3 min read · 14 April 2016
Moncton, New Brunswick-based Fiddlehead Technology Inc has received $1.8 million in seed-stage funding. The round was led by Canadian venture capital firm Build Ventures, and was joined by the New Brunswick Innovation Foundation. Launched in 2013, Fiddlehead is a provider of predictive forecasting solutions aimed at improving the food and beverage industry's supply chain. It developed its technology in collaboration with McCain Foods Ltd. The company said it will use funds raised to add data science and development staff, and expand North American sales and marketing efforts.
2 min read · 14 April 2016
Chief executives from nearly 200 cleantech companies have sent a letter to Prime Minister Justin Trudeau with recommendations about how the federal government can protect the environment and grow the economy. The CEOs, who are allied with a pan-Canadian coalition calling for measures to bring new technologies to market, reduce greenhouse gas emissions, increase clean technology exports, and other goals, also requested representation on Ottawa's Clean Technology, Innovation and Jobs Working Group.
3 min read · 14 April 2016
Ontario Pension Board (OPB), which manages Ontario's Public Service Pension Plan, generated an investment return of 6.14 percent at the end of 2015. The Toronto-based pension fund manager's private-market investments, consisting of real estate, private equity and infrastructure, returned 11.1 percent. As a result of overall performance, OPB's net assets rose to $23 billion at year's end. OPB said it continued to shift assets from public to private markets in 2015, a strategy that included increasing both infrastructure and private equity portfolios by 50 per cent.
2 min read · 14 April 2016
The new head of private markets at Public Sector Pension Investment Board (PSP Investments) is off to a running start after being quietly hired by the system last fall. Guthrie Stewart, named PSP’s senior vice president and global head of private investments in September, was the pension fund’s point man on January’s proposed buy of AIG Advisor Group, a New York-based broker-dealer network. Stewart will likely focus on finding more such deals as PSP seeks to scale investment volumes to match up with its fast-growing asset base.
3 min read · 14 April 2016
Canadian mobile consumer marketplace Flipp Corp has secured $61 million in a strategic investment from U.S. growth equity firm General Atlantic. Forbes reported the financing values the company at about $400 million. Based in Toronto, Flipp, formerly known as Wishabi, has developed an app that allows consumers to access digital circulars from retailers. It said the funds raised will be used to grow the company's footprint, extend partnerships, and further develop its platform. With the deal, General Atlantic Venture President Zachary Kaplan will join the company's board. Founded in 2007, Flipp is also backed by Insight Venture Partners, which invested $15 million in September 2013.
4 min read · 14 April 2016
The Québec government has confirmed a $20 million investment in the acquisition of Bloom Lake Mine and related assets by Champion Iron Ltd (TSX: CIA). Champion recently announced it closed a $30 million private placement financing, joined by U.S. private equity firms Wynnchurch Capital and Resource Capital Funds, to help fund the deal. Ressources Québec, a subsidiary of government-run Investissement Québec, is also in discussions concerning its provision of a $6 million loan.
3 min read · 13 April 2016
The Fonds de solidarité FTQ has invested $3 million in Pixcom Group Inc, a Montréal-based company focused on the production of digital and television content, international distribution, corporate communications, dubbing and technical services. Pixcom, founded in 1987 by President Jacquelin Bouchard, will use the funds raised to expand. It will focus on new opportunities in Canada and the United States, said Janie Béïque, the Fonds' senior vice president of industries, entertainment and consumer goods.
3 min read · 13 April 2016
