Private Equity
Canopy Rivers has made a preferred investment of $1.5 million in Herbert, a Toronto-based adult-use cannabis beverage and edibles brand. As part of the deal, Canopy received incremental warrants entitling it to increase the stake, as well as governance-related rights. Founded last year by principals of Greenhouse, Herbert's core beverage offering will focus on tetrahydrocannabinol-infused products designed for distribution within Canada. Earlier this month, Canopy, the venture capital arm of Canadian cannabis producer Canopy Growth Corp, invested $9 million in Greenhouse, a Toronto-based maker of plant-based beverage products.
3 min read · 22 January 2019
TIMIA Capital Corp has provided a US$3 million facility to Karbon Inc, a Sausalito, California-based workstream collaboration software platform. TIMIA, a Canadian supplier of revenue-based financing to technology companies, will deploy an initial US$1 million, followed by a further US$2 million when certain milestones are met. Founded in 2014, Karbon's technology combines e-mails, discussions, tasks and workflows to help teams achieve goals. It will use the facility’s proceeds to support growth and sales and marketing activities. Karbon is TIMIA's second investment in the United States.
3 min read · 21 January 2019
360insights has acquired MTC Performance, a Schaumburg, Illinois-based provider of sales incentive management solutions. Terms weren't disclosed. 360insights said the deal adds capabilities to its software platform, which helps brands optimize channel incentives spending, along with more than 50 new enterprise clients. Founded in 2008 by CEO Jason Atkins, 360insights closed a $30 million financing in 2016. The round was led by Sageview Capital and joined by OMERS Ventures, Klass Capital, Leaders Fund and Export Development Canada.
3 min read · 21 January 2019
Planswell, a Toronto-based financial planning platform, has secured an additional $4 million in financing, bringing total funding so far to $17.8 million. The investors were not identified. Planswell previously raised capital from former senior financial executives and other sources. Founded in 2015, Planswell has since its launch last year built more than 100,000 free financial plans for Canadian users. Led by CEO Eric Arnold, the company will use the round's proceeds for product enhancements, new hires, and expanding to Europe, Asia and Latin America with the help of strategic partnerships.
2 min read · 21 January 2019
Canadian venture capital firm Portag3 Ventures has hired Hélène Falchier as a partner. Based in Paris, Falchier will focus on sourcing and leading the firm's investment opportunities in Europe. Falchier joins Portag3 from French insurance company CNP Assurances SA, where she most recently served as CEO of the corporate venture program, Open CNP. She was previously CNP’s head of private equity. In October, Portag3, the early-stage financial technology investment arm of Canadian holding company Power Corp, raised $198 million in the initial close of its second fund.
3 min read · 21 January 2019
Canadian small and mid-sized enterprises (SMEs) expect their investing in 2019 will be curbed by a shortage of qualified labour, according to a survey by the Business Development Bank of Canada (BDC). BDC's fourth annual investment intentions report found the labour shortage to be the top barrier to investing. Other impediments include insufficient cash flow and economic uncertainty. Overall SME optimism remains stable, with 73 percent of the 4,024 business owners surveyed expecting their revenue to grow this year. Four in 10 SMEs plan to devote all or some of their investing to new technologies.
3 min read · 18 January 2019
Canada’s venture capital market broke records in 2018, its ninth straight year of growth. The milestones included the most financings sized $100 million or more – ever. That made the market’s top 10 VC financings especially cash-intensive. In all, they drew $1.4 billion from investors, up 17 percent from the $1.2 billion raised by the top 10 deals in 2017. The number is based on PE Hub Canada’s list of the largest financings announced in 2018, supplemented by preliminary data from Refinitiv. It points to the considerable influence of late-stage rounds in technology investment activity, which reached a total of $4.3 billion last year, a nearly two-decade high.
3 min read · 17 January 2019
Avrio Capital, a Canadian food and agriculture technology investor, and Alliance Consumer Growth, a U.S. consumer and retail growth equity firm, have invested in the launch of healthy snack food company Way Better Brands LLC. Terms weren't disclosed. Way Better Brands combines two existing companies, Live Better Brands, the Minneapolis-based owner of tortilla chips and crackers brand Way Better Snacks, and Left Field Foods, the Calgary-based maker of air-puffed potato snacks brand Spokes. Avrio Managing Partner Aki Georgacacos said the deal creates a "best in-class consumer products business" with snacking solutions across multiple categories.
3 min read · 17 January 2019
Canopy Rivers, the venture capital arm of Canopy Growth Corp, has appointed Narbe Alexandrian as president, effective immediately. Alexandrian will lead corporate development initiatives and manage the firm on a day-to-day basis. Alexandrian joined Canopy Rivers last year from OMERS Ventures, where he served as a senior associate. Before then, he was a senior strategy manager in Telus Corp’s internet of things group. Based in Smith Falls, Ontario, Canopy Growth is a producer of medical and recreational cannabis.
4 min read · 17 January 2019
Canadian private equity firm Yaletown Partners has hired Michael Sfalcin as a principal. Sfalcin will be based in Yaletown's Toronto office, helping the firm identify and create new investment opportunities across Canada. He joins from BMO Financial Group, where he served as director of financing, technology and innovation sector. Before then, he was an investment director at Canadian venture capital firm BEST Funds. Last year, Vancouver-based Yaletown held the first close of its emerging-growth technology fund, Yaletown Innovation Growth Fund, raising more than $100 million.
3 min read · 17 January 2019
