The Caisse de dépôt et placement du Québec (CDPQ) has appointed Alonso García-Tamés as managing director of its subsidiary in Mexico, CDPQ México, and head of Latin America. Operating from Mexico City, García-Tamés will play a key role in developing and managing the Caisse's investments in Mexico, as well as in the Latin American region. As part of these duties, he will help develop the co-investment platform for Mexico infrastructure projects launched last September by the Caisse in partnership with Mexican institutional investors. Prior to joining CDPQ México, García-Tamés was a senior executive at Citi and Banamex.
3 min read · 29 March 2016
Canadian social media management platform Hootsuite has bought Sales Prodigy, a Vancouver-based mobile app that helps sales organizations tap into social selling opportunities. The deal's financial terms were not disclosed. Matt Switzer, vice president of corporate development at Hootsuite, said the acquisition will bolster the company's platform so it can address a current "big gap" in the market for social selling solutions. Founded in 2008, Vancouver-based Hootsuite has raised US$250 million in venture capital financing, including its US$60 million round in late 2014. Its backers include Accel Partners, Insight Venture Partners and OMERS Ventures.
3 min read · 29 March 2016
Canadian venture capital firm BDC Capital has invested $6.7 million in Wave, a Toronto-based provider of online financial tools for small businesses. The money came from BDC Capital's IT Venture Fund II, launched at $150 million last month, and was led by newly-appointed Partner Peter Misek, who will join Wave's board. The investment adds to the company's Series C financing, announced last May, which now totals $22.1 million. Charles River Ventures, OMERS Ventures, The Social+Capital Partnership, and an unidentified strategic investor also invested in the round. Founded in 2010, Wave plans to use all Series C funds raised to invest in innovation and development of its suite of tools.
3 min read · 29 March 2016
Canadian travel search startup Hopper Inc has secured $16 million in financing, bringing its total investment so far to $38 million. The round was led by BDC Capital IT Venture Fund, a fund managed by BDC Capital, and was joined by existing investors OMERS Ventures, Accomplice and Brightspark Ventures. Founded in 2007, Montréal-based Hopper has developed a mobile application that uses big data to predict and analyze airfare. Last year, it monitored fares for over 5 million watched trips worth over $4.5 billion in gross booking value. Hopper plans to use funds raised to support continued growth and hiring in its Montréal and Cambridge, Massachusetts offices.
2 min read · 29 March 2016
Cyberpost has secured about $2 million (US$1.5 million) in seed-stage financing. The private investors in the round were not disclosed. Based in Toronto, Cyberpost has developed video and virtual mail technology that allows consumers to pre-select products and services for which they would like to receive offers and information from businesses and other organizations. It plans to use the seed round's proceeds to accelerate the startup's growth, further develop its platform, and implement new marketing strategies.
4 min read · 28 March 2016
The Caisse de dépôt et placement du Québec has invested an additional €30 million ($44.4 million) in SPIE, a European provider of engineering and technical services. At the same time, Clayax Acquisition Luxembourg 5 SCA, a SPIE investment vehicle owned by the Caisse, Ardian and Clayton, Dubilier & Rice, will distribute to the Caisse its pro rata shares on March 30. As a result of these deals, the Caisse, which has backed SPIE since 2011, will now directly hold 13.2 percent of the company's share capital. The Montréal-based pension fund manager said the investment will support SPIE's growth strategy.
2 min read · 28 March 2016
Circle Cardiovascular Imaging Inc, a Canadian developer and marketer of cardiac-image analytical software, has secured an undisclosed follow-on financing. Existing and new investors in the round included BDC Capital Healthcare Venture Fund, an affiliate of BDC Capital, healthcare investor Epic Capital Management and The Accelerate Fund, an early-stage fund managed by AVAC. Calgary-based Circle said the funds raised will be used to support its global expansion, which was recently given impetus by a licensing and distribution partnership with GE Healthcare. Circle obtained $3.9 million in a round backed by BDC, Foundation Equity and other investors in July 2011.
3 min read · 24 March 2016
Corsa Coal Corp (TSX-V: CSO), a supplier of quality metallurgical coal for steel production, has agreed to a private placement to raise US$8 million in gross proceeds. Participants in the deal will include existing investors U.S. private equity firm Quintana Capital Group, Canadian private equity firm Sprott Resource Corp, and vehicles controlled by a trust in the name of Adolf H. Lundin. Sprott Resource Lending Corp (SRLC), the company's senior lender, also invested. In connection with the deal, Corsa also agreed to amend the terms of a US$25 million credit agreement with SRLC and other lenders. Based in Canonsburg, Pennsylvania, Corsa has an office in Toronto.
6 min read · 24 March 2016
Zymeworks Inc has closed its previously announced acquisition of Kairos Therapeutics Inc, a specialist in antibody drug conjugates. No financial terms were disclosed. The merger of the two Vancouver-based companies creates "one of the industry's leading biologics drug discovery and development organizations," Zymeworks said. Zymeworks, a developer of antibodies and antibody drug conjugates for the treatment of cancer, autoimmune and inflammatory diseases, secured about $87 million (US$61.5 million) in a Series A financing in January. The round was co-led by BDC Capital and Lumira Capital.
4 min read · 24 March 2016
The C100 has launched "The Ambassador Program", an initiative intended to broaden the Silicon Valley-based association's reach in Canada, and its ability to offer support to Canadian entrepreneurs and startups. The program is comprised of ambassadors residing in Canadian cities who will over a 24-month period identify and engage promising startups in their regions. The ambassadors are Dax Dasilva, founder and CEO of Lightspeed; Daniel Debow, former senior vice president, emerging technologies, at Salesforce; Jevon MacDonald, co-founder and ex-CEO of GoInstant; Aydin Mirzaee, co-founder and former Co-CEO of Fluidware; and Matt Switzer, senior vice president, labs, corporate and business Development at Hootsuite.
6 min read · 24 March 2016
