Private Equity
Macquarie Bank Limited has provided a US$60 million senior credit facility to Toronto-based Golden Star Resources, a gold mining company that owns and operates the Wassa and Prestea underground mines in Ghana, West Africa. The capital infusion will be used to refinance loans and for general corporate purposes. Golden Star is listed on the New York Stock Exchange, the Toronto Stock Exchange and the Ghana Stock Exchange.
2 min read · 18 October 2019
NERv Technology, a medtech venture co-founded by a number of University of Waterloo alumni, has secured $1 million in pre-seed funding. The investors included Sunhope Capital VC. The capital infusion will be used to cover the costs associated with preclinical studies and further develop NERv's flagship post-operative sensory platform product.
3 min read · 17 October 2019
Flare Systems, a Montréal-based dark-net intelligence platform focused on helping financial institutions prevent cyber-crimes, has raised $1 million in a seed-stage financing. The round was led by Luge Capital, a Canadian fintech venture capital firm. Also participating was White Star Capital. Founded in 2017, Flare Systems will use the round's proceeds to expand its roll-out in Canada and the United States, and further develop its suite of products. Luge last year raised an initial $75 million for its inaugural fund.
4 min read · 17 October 2019
Applied Systems has acquired Policy Works, a platform for commercial lines business in Canada. No financial terms were disclosed. With offices in Ontario and Quebec, Applied Systems is a provider of agency and brokerage management systems for the insurance industry. Applied Systems is backed by CapitalIG.
2 min read · 16 October 2019
Ivanhoé Cambridge, a real estate subsidiary of Caisse de dépôt et placement du Québec and ICAMAP have acquired a majority stake in easyHotel, a "super-budget" hotel chain. No financial terms were disclosed.
4 min read · 16 October 2019
Toronto-based private equity firm Whitehorse Liquidity Partners has closed its third fund at a hard cap of US$2 billion. The fund's investors include insurance companies, public and corporate pension plans, family offices, financial institutions and individual investors. Kirkland & Ellis served as legal counsel for Whitehorse on the fund. In August 2018, Whitehorse raised US$1 billion for its second fund.
3 min read · 16 October 2019
Regional Group of Companies and Fengate have formed a partnership that will develop two new residential rental and retail buildings in Old Ottawa East. Fengate is co-managing the joint venture with Regional Group in the two buildings on behalf of the LiUNA Central and Eastern Canada Pension Fund. When the project is completed, Regional Group will be managing the properties on behalf of the investors. Regional Group is a Canadian real estate platform while Fengate is an alternative investment manager focused on real estate, infrastructure and private equity strategies.
3 min read · 16 October 2019
Enerkem, a Montréal-based producer of biofuels and renewable chemicals from waste, has raised $50 million in funding. The investor was Calgary-based energy company Suncor. This past April, Suncor participated in a $76.3 million financing round. As a result of this new investment, Suncor has become a "significant" Enerkem shareholder. Enerkem's other backers include Braemar Energy Ventures, Cycle Capital, Fondaction, Fonds de solidarité FTQ, Investissement Québec, National Bank of Canada, Rho Ventures, Sunkem, Waste Management of Canada and Westly Group.
3 min read · 16 October 2019
Toronto-based Ledn, a provider of bitcoin-based financial products, has secured debt financing from Arctos Capital LLC and Colchis Capital Management LP. The capital will be used for expanding Ledn products and its international footprint.
3 min read · 15 October 2019
UK-based Hummingbird Technologies, an agricultural tech company, has raised an undisclosed amount of Series B funding. The investors include BASF Venture Capital, Canada’s TELUS Ventures, Saudi Agricultural and Livestock Investment Company and Downing Ventures.
4 min read · 15 October 2019
