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BDC Capital provides $1.25 mln of mezz financing to TickTradeBDC Capital has supplied $1.25 million of mezzanine financing to TickTrade, a Toronto-based provider of a software-as-a-service foreign exchange (FX) trading platform. BDC invested through its Growth and Transition Capital division. The deal was led by Director Kyle Feucht. Founded in 2013 by CEO Baha Ohcebol and COO Alexander Culiniac, TickTrade provides its FX trading and payments solutions to the global financial services industry. The proceeds of the financing, TickTrade's first from an institutional source, will be used to hire additional sales and marketing personnel as the company begins further U.S. and European market penetration.
Carbontech company Inventys wraps up Series C round at $34 mlnVancouver-based carbon capture technology company Inventys has wrapped up its Series C financing, raising about $34 million (US$26 million). Inventys received an additional $13 million (US$10 million) from U.K.-based fund OGCI Climate Investments, which led the Series C's first tranche https://www.pehub.com/canada/2018/07/inventys-raises-initial-14-5-mln-of-planned-series-c-financing/ last year, and BDC Capital's clean technology practice, with existing investors Husky Energy Inc, Roda Group and Chevron Technology Ventures also contributing. The funds raised will allow Inventys to complete its 30-tonne-per-day CO₂ capture plant demonstration project with Husky, due to begin operations in Q3 2019. They will also support scale-up activities for the manufacturing of the company's filter beds and rotating adsorption machine.
Ackroo secures $4 million M&A facility from BDC CapitalAckroo Inc (TSX-V: AKR), an Ottawa-based gift card and loyalty marketing technology and services provider, has secured a $4 million debt facility from BDC Capital. The facility's proceeds will be used for acquisitions. They include Ackroo's acquisition https://www.ackroo.com/ackroo-signs-definitive-agreement-to-acquire-certain-assets-of-iq7-24-a-wholly-owned-subsidiary-of-mobi724/ of certain assets of I.Q. 7/24 Inc, the digital marketing and business intelligence business of Mobi724 Global Solutions Inc. The $2.7 million deal is expected to close next month. Founded in 2012, Ackroo provides its in-store and online automated marketing solution to automotive, petroleum, hospitality and retail merchants.
Ackroo secures $4 million M&A facility from BDC CapitalAckroo Inc (TSX-V: AKR), an Ottawa-based gift card and loyalty marketing technology and services provider, has secured a $4 million debt facility from BDC Capital. The facility's proceeds will be used for acquisitions. They include Ackroo's acquisition https://www.ackroo.com/ackroo-signs-definitive-agreement-to-acquire-certain-assets-of-iq7-24-a-wholly-owned-subsidiary-of-mobi724/ of certain assets of I.Q. 7/24 Inc, the digital marketing and business intelligence business of Mobi724 Global Solutions Inc. The $2.7 million deal is expected to close next month. Founded in 2012, Ackroo provides its in-store and online automated marketing solution to automotive, petroleum, hospitality and retail merchants.
Procurify secures $27 mln in Information VP-led Series B roundProcurify, a Vancouver-based spend management platform, has closed its Series B financing, raising about $27 million (US$20 million). The round was led by Canadian venture capital firm Information Venture Partners. It was joined by Runa Capital, HarbourVest Partners, Manulife and BC Tech Fund, managed by Kensington Capital Partners. The company is also backed by Point Nine Capital, Nexus Venture Partners and BDC. Founded in 2012 by CEO Aman Mann, CTO Eugene Dong and CRO Kenneth Loi, Procurify provides software that helps organizations manage their expenditures. The funds raised will be used for new hires, undertaking sales and marketing initiatives, and expanding Procurify's offering globally.
BDC’s cleantech practice invests in Recover Energy ServicesCalgary-based environmental technology company Recover Energy Services Inc has raised undisclosed financing from BDC Capital. BDC invested through its $700 million clean technology practice https://www.pehub.com/canada/2018/01/ottawa-invest-700-mln-cleantech-sectors-bdc/ Founded in 2008, Recover provides technology that recovers and refines base oil from contaminated drilling waste, resulting in avoidance of landfills and reduced CO2 emissions. Led by President and CEO Stan Ross, the company will use the financing's proceeds to expand, in part by opening an office in Houston, and complete modifications on its first commercial-scale facility in Lodgepole, Alberta.
Indigenous digital agency Animikii secures $1 mln from Raven, BDCAnimikii, a Victoria, British Columbia-based Indigenous digital agency and social enterprise, has raised $1 million in financing. The round's backers were Raven Indigenous Capital Partners, a Canadian Indigenous venture capital firm, and Business Development Bank of Canada (BDC). A representative of Raven will join the board. Founded in 2003 by Jeff Ward, Animikii provides website design, custom software, digital communications strategies and other technology-related solutions to Indigenous-focused organizations. Animikii will use the funds raised to further build its team and develop its Indigenous data sovereignty product.
Derrick Hunter named 2019 angel of the year by NACO, BDCNACO announced Derrick Hunter, president and CEO of Bluesky Equities, has won the 2019 Canadian Angel of the Year award. The award, sponsored by BDC Capital, recognizes an early-stage investor who has made a significant contribution to the growth and development of the Canadian entrepreneurial ecosystem. Calgary-based Hunter has been an active member of the Alberta angel community for many years, investing in more than 50 startups. He is also a founding partner and fellow at Creative Destruction Lab-Rockies. NACO, the national association for angel investors, incubators and accelerators, has more than 4,000 members.
Good Natured raises $13 mln in growth funding from BDC CapitalVancouver-based bioplastics company Good Natured Products Inc (TSX-V: GDNP) has secured about $13 million (US$10 million) in financing from BDC Capital. BDC invested through its $700 million clean technology practice /canada/2018/01/ottawa-invest-700-mln-cleantech-sectors-bdc/ Comerica Bank also agreed to supply a US$1 million operating line of credit. The funding from BDC will be drawn down by Good Natured in three tranches. The proceeds of the first tranche will be used for organic growth, and the rest for acquisitions. Formerly known as Solegear Bioplastics, Good Natured makes and distributes a range of consumer products and packaging using renewable, plant-based materials. Its other investors include Yaletown Partners.
Ottawa commits $50 mln to ArcTern, Cycle Capital, Renewal FundsThe federal government’s Venture Capital Catalyst Initiative (VCCI) has committed $50 million to ArcTern Ventures, Cycle Capital Management and Renewal Funds, all Canadian venture capital firms active in the clean technology sector. Montréal-based Cycle and Vancouver-based Renewal will receive $20 million apiece, the Globe and Mail reported https://www.theglobeandmail.com/business/article-ottawa-earmarks-50-million-for-three-cleantech-companies-but-they/ while Toronto-based ArcTern will get $10 million. ArcTern initially closed its second fund /canada/2018/10/omers-equinor-anchor-60-mln-initial-close-of-arctern-fund-ii/ last year, raising $60 million, while Cycle initially closed its fourth fund /canada/2019/02/cycle-capital-raises-initial-109-mln-for-fourth-cleantech-fund/ in February, raising $109 million. VCCI, a $400 million program /canada/2018/06/ottawas-400-mln-vcci-commits-to-five-funds-of-funds-managers/ to shore up venture capital supply in Canada, in 2018 secured an additional $50 million from Ottawa earmarked for clean technology.