Montréal-based iNovia raises C$175 million for its fourth fund, thanks to 20 institutional LPs, including Teralys Capital
3 min read · 21 January 2016
Capstone Infrastructure Corp (TSX: CSE), a Canadian infrastructure investment firm, has agreed to be acquired by an affiliate of iCON Infrastructure LLP. The deal has an equity value of about $480 million and is expected to close in April. Based in Toronto, Capstone invests in a range of infrastructure assets, including power, utilities, transportation and public-private partnerships. Its portfolio comprises 25 investments in Canada and Europe. The decision to sell the business to iCON followed a strategic review by the firm late last year. London, U.K.-based iCON, an investor in privately-held infrastructure assets, closed its third fund at €800 million ($1.1 billion) in April 2015.
10 min read · 20 January 2016
Waterloo-based machine-learning startup Maluuba announced it has raised $9 million in a Series A financing. The investors included Canadian venture capital firm Emerillon Capital, U.S.-based Nautilus Ventures, and undisclosed strategic investors. The company has now raised $12 million in total funding. As part of the round, Brian Kang, managing director of Nautilus, and Ludovic Andre, managing director of Emerillon, have joined the board. Founded in 2011, Maluuba has developed technology that helps to solve language-understanding problems and to train machines to model capabilities of the human brain. It said its platform is now integrated across over 50 million devices.
3 min read · 20 January 2016
Therapure Biopharma, a Canadian biopharmaceutical company owned by Catalyst Capital Group, has set the terms of its previously announced initial public offering. Therapure is seeking about $130 million, according to an IPO prospectus amended earlier this month. The offering includes a secondary sale by Catalyst.
2 min read · 20 January 2016
Canadian private equity firm Regimen Partners has made an undisclosed equity investment in Central Technology Services Corp. Based in Oakville, Ontario, Central provides customized transaction structures and financial solutions designed to assist large companies that are acquiring technology assets. The company was founded in 1996. Regimen said the investment in Central will focus on pursuing opportunities in North America's enterprise software market. The deal follows Vancouver-based Regimen's announcement last November that it had opened a new office in Toronto.
2 min read · 20 January 2016
TeraXion has agreed to sell its high-speed photonics components assets to U.S.-based network specialist Ciena Corp (NYSE: CIEN) for about $46.6 million in cash. Ciena said the acquisition will advance its market role in high-speed optics and enhance its ability to develop differentiated solutions. Following the deal, TeraXion said it will continue to operate its fibre-optic communication, fibre lasers and optical sensing applications business from its headquarters in Québec City. Founded in 2000, TeraXion raised funding from a number of Canadian venture capital firms. It continues to be backed by several investors, including the Fonds de solidarité FTQ.
3 min read · 19 January 2016
Brookfield Asset Management has made a proposal to acquire the common shares of Rouse Properties Inc (NYSE: RSE), a real estate investment trust and shopping mall owner based in New York. The deal, which Rouse said was unsolicited, reflects an offer to shareholders of US$17 in cash per share, or about US$657 million in total, according to Bloomberg. As part of the deal, Brookfield Property Partners LP would retain the 33 percent interest in the company that it currently owns. Founded in 2012, Rouse holds a diversified portfolio that includes 35 malls and retail centres located across the United States, encompassing about 24.1 million square feet.
2 min read · 19 January 2016
The Canadian Venture Capital & Private Equity Association (CVCA) and Thomson Reuters will publish their reports on Canadian private equity market activity from 2015 in the coming weeks. PE Hub Canada has in the meantime compiled a list of the likely top 10 (disclosed) buyout and other PE deals of the past year.
3 min read · 15 January 2016
Power Survey and Equipment Ltd, a power quality business, has secured $10 million in funding. The round was led by EnerTech Capital with participation from Investissement Québec. Based in Montréal, Power Survey provides customized power factor correction and harmonic filtering technologies and solutions, mostly to customers in Canada and the United States. EnerTech said it plans to grow the company organically via mergers and via acquisitions of companies with compatible grid-edge technologies and solutions. Power Survey is the second investment made in Québec by EnerTech's fourth energy and power venture fund, which raised $120 million in late 2013.
4 min read · 15 January 2016
Canadian online investment platform NexusCrowd has agreed to participate in a $15.5 million 1st mortgage investment on a 25-acre property located in Ajax, Ontario. The investment is being provided by Downing Street Realty Partners, a Canadian real estate investment manager and merchant bank. It will be used to consolidate existing debt and to provide bridge financing for the Phase I development of a residential condominium project. NexusCrowd will commit $500,000 with the ability to increase its participation to $1 million.
4 min read · 14 January 2016
