CTI Life Sciences Fund related stories
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Xagenic rakes in $25.5 mln Series BToronto-based molecular diagnostics firm Xagenic said Monday that it has closed $25.5 million in Series B funding. New backer BDC Capital joined the round. In addition to the financing, Dion Madsen, senior managing partner at BDC Capital, has been added to Xagenic's board of director.
- Xagenic rakes in $25.5 mln Series B
Toronto-based molecular diagnostics firm Xagenic said Monday that it has closed $25.5 million in Series B funding. New backer BDC Capital joined the round. In addition to the financing, Dion Madsen, senior managing partner at BDC Capital, has been added to Xagenic's board of director.
Top VC deals done in Canada in first quarterCanada’s Venture Capital and Private Equity Association and research partner Thomson Reuters will in May publish their full report on Canadian venture capital deal-making in the first quarter of 2014. In the meantime, peHUB Canada has compiled an early list of some of the top disclosed financings completed since January.
- Top VC deals done in Canada in first quarter
Canada’s Venture Capital and Private Equity Association and research partner Thomson Reuters will in May publish their full report on Canadian venture capital deal-making in the first quarter of 2014. In the meantime, peHUB Canada has compiled an early list of some of the top disclosed financings completed since January.
PE funds raise record $16 billion in 2013, but VCs look to 2014 for growth in commitmentsCanadian buyout, mezzanine and related PE funds appear to be on course to raise a record $16 billion-plus in 2013. It would be nice to report similar growth in the pool managed by Canada’s venture capital industry. While 2013 saw improved levels of VC investment activity, including some truly major company financings – Enerkem, HootSuite and Shopify, to name only some of the largest – it was not a stellar year for raising funds.
Molecular diagnostics startup Xagenic nabs $20 mln Series B financingXagenic Inc, a Toronto-based molecular diagnostics start-up, has secured $20 million in Series B financing. The round was led by U.S. venture capital firm Domain Associates, with the participation of Canadian investors CTI Life Sciences Fund and the Ontario Emerging Technologies Fund. In conjunction with the deal, Domain's Jesse Treu will join the company's board of directors. Xagenic will use the new funds to support development and clinical studies as it moves toward regulatory approval and commercialization of its molecular diagnostic testing platform and lead diagnostic assay. The first start-up of commercialization agent MaRS Innovation, the company emerged from research developed at the University of Toronto, and has been venture-backed since 2010.
- Toronto-based Xagenic nabs $20 mln in Series B funds
Xagenic said Monday that it has closed $20 million in Series B financing. New investor Domain Associates led the round with participation from return backers CTI Life Sciences Fund and the Ontario Emerging Technologies Fund. Also, the company named Dr. Jesse Treu, a partner at Domain Associates, to its board of directors. Based in Toronto, Xagenic is a molecular diagnostics company.
- Rebooting healthcare – venture capital investing in life sciences takes a new direction
BDC Venture Capital Healthcare Fund recently launched The Healthy VC, a blog http://thehealthyvc.com/ intended to stimulate dialogue and debate about the fast-growing healthcare technology sector – and the opportunity it presents to venture capital firms and their entrepreneurial partners.
- CVCA welcomes roll out of Ottawa's Venture Capital Action Plan
Canada's Venture Capital and Private Equity Association (CVCA) welcomed the recent roll out of key provisions of the federal government's Venture Capital Action Plan (VCAP). These include the $50 million in VCAP commitments that went to four Canadian venture partnerships, as reported /2013/09/23/four-canadian-venture-partnerships-awarded-50-mln-vcap-top-ups by peHUB Canada. Additionally, CVCA was encouraged by the launch of the Canada Accelerator and Incubator Program (CAIP), which will provide $60 million in funding to Canadian accelerators and incubators to support the growth of early-stage companies. The National Research Council of Canada's IRAP is currently accepting http://www.nrc-cnrc.gc.ca/eng/irap/caip/index.html CAIP proposals.
- Four Canadian venture partnerships awarded $50 mln in VCAP commitments
The federal Minister of Finance Jim Flaherty announced that four Canadian venture capital funds have been awarded a total of $50 million from the $400 million Venture Capital Action Plan (VCAP). The funds are: Summerhill Ventures II, managed by Toronto-based Summerhill Venture Partners, which received $15 million; CTI Life Sciences Fund II, managed by Montréal-based CTI Life Sciences Fund, which received $15 million; Real Ventures Fund III, managed by Montréal-based Real Ventures, which received $10 million; and Lumira Capital II, managed by Toronto-based Lumira Capital Corp, which received $10 million. Among the provisions of VCAP, which was introduced in January 2013, was to commit capital to "high-performing" funds with a substantial Canadian market presence.