Shopify Inc (NYSE: SHOP) (TSX: SH), which went public in May 2015, has agreed to acquire Kit CRM Inc, a San Francisco-based virtual marketing assistant that leverages messaging to help businesses market their online stores. No financial terms were disclosed. Shopify, a cloud-based, multi-channel commerce platform based in Ottawa, said the acquisition will support its focus "on the growing trend towards conversational commerce." Founded in 2013, Kit is currently venture-backed. Its investors include Technicolor Ventures and Visionnaire Ventures.
4 min read · 13 April 2016
Convergint Technologies LLC, a portfolio company of U.S. private equity firm KRG Capital Partners, has acquired H&E Comfort Controls Ltd, a Windsor, Ont.-based provider of building automation and security solutions. No financial terms were released. Convergint, a service-based integrator of building systems, said the acquisition expands its presence in Canada and gives it more access to key vertical markets. Schaumburg, Ill.-based Convergint received an investment from KRG in September 2012.
2 min read · 13 April 2016
Fengate Capital Management has bought a 25 percent equity interest in San Juan Mesa Wind Project LLC for an undisclosed amount. San Juan Mesa, held and operated by an affiliate of NRG Energy Inc, is the owner of a 120 megawatt, fully-contracted operating wind project located in New Mexico. The deal represents Fengate's first investment in the United States, and in a wind power project. Based in Toronto, Fengate is a real asset investment firm that specializes in funds focused on infrastructure, real estate and private equity.
2 min read · 13 April 2016
Calgary-based junior oil and gas producer Boulder Energy Ltd (TSX: BXO) has completed its going private transaction with Canadian energy private equity firm ARC Financial Corp. The previously announced deal, valued at about $268 million, including debt, was approved by Boulder Energy's shareholders earlier this week. ARC is investing in the company via ARC Energy Fund 8, which raised $1.5 billion in June 2015.
3 min read · 13 April 2016
Financeit Canada Inc has entered into a strategic funding partnership with Concentra Financial Services Association, a Canadian provider of wholesale finance and trust solutions to credit unions. The partnership, which has an initial value of $100 million, will allow Financeit to fuel a national growth strategy with increased origination capacity and access to the credit union system. Based in Toronto, Financeit is a cloud-based point-of-sale financing platform. Last October, it raised a minority equity funding round led by the merchant banking division of Goldman Sachs.
3 min read · 12 April 2016
Blue Star Sports has acquired Pointstreak Sports Technologies Inc, a Toronto-based sports technology solutions company, servicing customers in 23 countries. No financial terms were disclosed. Blue Star, a Frisco, Texas-based provider of youth sports team and league management software, said the deal enhances the company's suite of products and increases its global user base to 8 million. Blue Star this month received an investment from U.S. private equity firm Providence Equity Partners and Jerry Jones, the owner of the Dallas Cowboys. It said it is also backed by Bain Capital and other investors.
4 min read · 12 April 2016
U.S. life sciences venture capital firm Versant Ventures had announced promotions in its investment team. They include the promotion of Vancouver-based Jerel Davis to managing director. Davis, who joined Versant in 2011, will be responsible for continuing to build the firm's portfolio and market presence in Canada and North America. Versant also announced that Blueline Bioscience, its Toronto-based biotechnology incubator, has appointed Mary Haak-Frendscho as CEO.
5 min read · 12 April 2016
European life sciences venture capital firm Forbion Capital Partners has closed its third fund, Forbion Capital Fund III (FCF III), at 183 million euros (US$208 million). Among the fund's limited partners was strategic investor Knight Therapeutics Inc (TSX: GUD), a Canadian specialty pharmaceutical company. Early last year, Forbion led the $13.5 million Series B financing of enGene Inc, a Montréal-based developer of novel DNA-based therapeutics.
4 min read · 12 April 2016
Montréal-based nGUVU, a developer of gamification and machine learning software for contact centres, has raised $3 million from Canadian venture capital firms Brightspark Venture Capital and Desjardins Capital de risque. Brightspark told PE Hub Canada the deal is its first utilizing a new funding model that allows Canadian accredited investors to co-invest in selected financings. A total of 26 investors committed to the nGUVU round alongside Brightspark. nGUVU, which was founded in 2013, plans to use the funds raised to accelerate growth, hire new talent, and enhance its software product.
2 min read · 12 April 2016
Champion Iron Ltd (TSX: CIA) has closed a $30 million private placement financing. The investors included U.S. private equity firms Wynnchurch Capital and Resource Capital Funds, which contributed $10 million and $6.5 million, respectively. With the deal, Wynnchurch Operating Partner Michelle Cormier has joined the company's board. Champion Iron, which has offices in Montréal, Toronto and Australia, is a developer of iron ore deposits located in the Labrador Trough. It said the deal's proceeds would be used partly to fund the company's acquisition of the Bloom Lake Mine and related rail assets, as well as the Quinto Mining Corp mineral claims, in Québec.
10 min read · 12 April 2016
