Canada

CPPIB and Cyrela form Brazilian real estate JV

Canada Pension Plan Investment Board and Cyrela Brazil Realty have agreed to form a joint venture to develop a portfolio of residential real estate across select neighborhoods in São Paulo, Brazil. The JV will invest up to $358 in combined equity. CPPIB will own an 80 percent stake in the JV while Cyrela will own the remaining 20 percent stake.

ITPS snags $3.5 mln from BDC Capital

London, Ontario-based The International Test Pilots School has secured $3.5 million in funding. The investor was BDC Capital's Growth & Transition Capital division. ITPS provides test flight training to pilots and engineers of approximately ten countries.

Canadian PE deal values hit $35.3 bln in 2019’s first nine months

Deal values in the Canadian buyout and private equity market were especially strong in Q3 2019, according to final data released by Refinitiv, with a total of $21.1 billion invested across 136 transactions. That result brought total deployments for the first nine months of the year to $35.3 billion in 377 deals. Values at the end of September were up 41 percent compared to the same time in 2018, while transaction volumes increased 23 percent. Canadian investors participated in global deals worth $118 billion in the first nine months, the largest amount ever recorded.

VCIB to acquire CoPower

PE-backed Digital Media Solutions acquires UE.co

Florida-based Digital Media Solutions, which is backed by Canadian private equity firm Clairvest Group, has acquired San Diego-based UE.co, a provider of software and services for digital marketing. No financial terms were disclosed.

AI chip startup Untether AI secures Series A

Toronto-based artificial intelligence chip startup Untether AI has raised US$20 million in Series A funding. The investors include Toronto-based Radical Ventures and Intel Capital. In addition to the funding, Arun Iyengar has been named CEO of Untether AI while Tomi Poutanen, a partner at Radical Ventures, is joining Untether AI's board.

Gelpac acquires WBC Extrusion Products

Gelpac, a Marieville, Québec-based provider of packaging solutions, has acquired Haverhill, Massachusetts-based WBC Extrusion Products, a maker of single-use blown polymer films for the food, industrial, automotive, medical and commercial packaging industries. Caisse de dépôt et placement du Québec, Québec Manufacturing Fund and Namakor were among the investors that backed this transaction. No financial terms were disclosed.

VC invested in Canadian tech companies reaches $5.6 bln YTD 2019

Venture capital investment in Canadian technology companies increased its pace in Q3 2019, with $2.8 billion deployed across 151 rounds, bringing total investment for the first nine months of the year to $5.6 billion. This marked the most active first three quarters in a year in dollar terms on record, according to final data released by Refinitiv. The number of financings in the third quarter was also up 34 percent year over year, while volumes in the first nine months rose 11 percent. Late-stage companies accounted for 29 percent of all rounds at the end of September, the third largest share ever.

Quartic.ai garners Series A

Toronto and San Jose, California-based Quartic.ai, a full-stack industrial AI and IIoT software provider, has raised US$5 million in Series A financing. WRVI Capital led the round. The capital infusion will be used by Quartic.ai to accelerate deployment of its Industry 4.0 technology and serve a larger customer base.

GFL Environment cancels cross-border IPO: Reuters