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CIBC Innovation Banking lends $4.6 mln to VC-backed InvixiumCIBC Innovation Banking has provided $4.6 million (US$3.5 million) of debt financing to Invixium, a Toronto-based maker of biometric solutions for access control and workforce digitalization. The company will use the proceeds to support its growth plans. Founded in 2012 by CEO Shiraz Kapadia, Invixium develops biometric security solutions utilizing face, finger vein and fingerprint recognition. It serves a range of enterprises and industries for indoor and outdoor deployment in rugged environments. Earlier this year, Invixium raised a Series B financing https://www.pehub.com/canada/2019/05/mcrock-capital-invests-in-invixiums-series-b-financing-ups-stake/ led by Connecticut Innovations and joined by existing investors McRock Capital and BDC Capital. CIBC Innovation Banking is the technology lending arm https://pehub.lndo.site/canada/2018/09/cibcs-tech-lending-arm-ramps-up-cross-border-strategy-with-new-hires-deals/ of CIBC.
- BDC funds, advises record 60k business owners in fiscal 2019
BDC provided financing and advisory services to a record 60,000 Canadian business owners in fiscal 2019, up 7 percent from a year ago, according to its annual report. Committed capital of BDC Capital, the growth equity, mezzanine and venture capital investment arm of BDC, now totals more than $3 billion. BDC Capital's Growth & Transition Capital team committed $900 million to business transitions in fiscal 2019, with nearly $200 million deployed. Its $200 million Women in Technology Venture Fund also invested https://www.pehub.com/canada/2019/04/bdcs-women-in-tech-fund-invests-17-mln-in-25-companies/ in 19 women-led companies, bringing the total to 25. The Venture Capital team increased its focus on late-stage companies, co-creating https://www.pehub.com/canada/2019/02/framework-venture-partners-launches-150-mln-debut-fund/ an information technology fund and launching https://www.pehub.com/canada/2019/06/bdc-unveils-250-mln-industrial-innovation-fund-led-by-joe-regan/ its $250 million Industrial Innovation Venture Fund.
Vendasta lands $40 mln in funding, CBGF leads $25 mlnVendasta, a Saskatoon-based white-label software company, has raised $40 million in its latest financing. Canadian Business Growth Fund (CBGF) led a $25 million round. It adds to a $15 million investment made in May, led by Comporium Inc and Saskworks Venture Fund and joined by Vanedge Capital and BDC Capital's IT Venture Fund. Founded in 2008, Vendasta provides a cloud commerce platform to channel partners that assist small and mid-sized businesses with their digital needs. Its products are are sold by more than 1,200 agencies and over 25,000 salespeople. Led by CEO Brendan King, Vendasta will use the funds raised for new hires, enhancing the platform, and expanding into new customer channels.
Back to school: VCs Janet Bannister and Rob Barbara join Kauffman Fellows Class 24Two Canadian investment pros are enrolled in the world’s foremost school for venture capitalists. Last month, Real Ventures’ Janet Bannister and Build Ventures’ Rob Barbara joined VCs from around the globe in the 24th class of Silicon Valley educator Kauffman Fellows, a program dedicated to boosting VC skills. The goal is to equip the some 64 participants in the class with new tools and strategies for performing the daily tasks of a VC, everything from managing a fund to nurturing a startup. Upon completing the program, they will become part of an exclusive network of graduates, called Fellows. Bannister and Barbara, who enrolled with the help of scholarships provided by BDC Capital, are set to bring the number of Canadian Fellows to 11.
Hifi Engineering raises $10 mln from BDC Capital, strategic investorHifi Engineering Inc, a Calgary-based provider of leak detection and incident prevention technology, has raised $10 million in financing from BDC Capital and an undisclosed strategic investor. BDC invested through Ottawa’s $700 million clean technology strategy, announced last year /canada/2018/01/ottawa-invest-700-mln-cleantech-sectors-bdc/ Hifi's other investors include Cenovus Environmental Opportunity Fund and Enbridge Inc. Founded in 2007 by CTO John Hull, Hifi develops and supplies fibre optic sensing technology for preventative leak detection in pipelines and monitoring of critical assets. The funds raised will be used to accelerate the company's growth and support continued research and development.
Small fraction of Canadian GPs are women, visible minorities: reportA report by the Canadian Venture Capital and Private Equity Association (CVCA) and BDC Capital provides new data on diversity and inclusion in Canada's private equity (PE) and venture capital (VC) industries. The report https://central.cvca.ca/wp-content/uploads/2019/06/CVCA-State-of-Diversity-and-Inclusion-2019.pdf based on a survey conducted by Deloitte in early 2019, found only 12 percent of partners at PE firms and 11 percent of partners at VC firms were female. It also found that only 6 percent of partners at PE firms and 18 percent of partners at VC firms were visible minorities. In all, 59 firms participated in the survey, which is intended to establish baseline data to measure progress over time and advance best practices in the area.
- Small fraction of Canadian GPs are women, visible minorities: report
A report by the Canadian Venture Capital and Private Equity Association (CVCA) and BDC Capital provides new data on diversity and inclusion in Canada's private equity (PE) and venture capital (VC) industries. The report https://central.cvca.ca/wp-content/uploads/2019/06/CVCA-State-of-Diversity-and-Inclusion-2019.pdf based on a survey conducted by Deloitte in early 2019, found only 12 percent of partners at PE firms and 11 percent of partners at VC firms were female. It also found that only 6 percent of partners at PE firms and 18 percent of partners at VC firms were visible minorities. In all, 59 firms participated in the survey, which is intended to establish baseline data to measure progress over time and advance best practices in the area.
Delve Labs raises follow-on financing led by 3dot6, DesjardinsMontréal-based cybersecurity software company Delve Labs has raised undisclosed follow-on financing. The round was led by 3dot6 Ventures, a U.S. cybersecurity venture capital firm, and Desjardins Capital, an investment arm of Desjardins Group. They were joined by BDC Capital. Delve Labs in 2016 closed a $1.5 million seed deal https://www.pehub.com/canada/2016/12/3425294/ backed by Real Ventures and other investors. Founded in 2014, Delve Labs provides an artificial intelligence-enabled vulnerability management and prioritization solution to help businesses identify security issues, reduce risks and protect key assets. Led by CEO Gabriel Tremblay, the company will use the funds raised for go-to-market activities and further innovation.