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BDC unveils $250 mln industrial innovation fund led by Joe ReganBDC Capital has launched a $250 million fund to invest in technology companies that can help modernize traditional Canadian industries. Industrial Innovation Venture Fund will invest in early- to late-stage companies focused on advanced manufacturing, agriculture and food technology, drones, energy technology, mining technology, robotics and targeted artificial intelligence. To oversee the fund, BDC hired Joe Regan as a managing partner. Regan joins from the clean technology group of Export Development Canada, which he led. He was previously a founding managing partner of Bioenterprise and a vice president at GrowthWorks and Ventures West.
- BDC unveils $250 mln industrial innovation fund led by Joe Regan
BDC Capital has launched a $250 million fund to invest in technology companies that can help modernize traditional Canadian industries. Industrial Innovation Venture Fund will invest in early- to late-stage companies focused on advanced manufacturing, agriculture and food technology, drones, energy technology, mining technology, robotics and targeted artificial intelligence. To oversee the fund, BDC hired Joe Regan as a managing partner. Regan joins from the clean technology group of Export Development Canada, which he led. He was previously a founding managing partner of Bioenterprise and a vice president at GrowthWorks and Ventures West.
VCCI-backed Northleaf Venture Catalyst Fund II closes at $300 mlnNorthleaf Capital Partners has closed Northleaf Venture Catalyst Fund II (NVCF II), a fund of funds earmarked for investments in Canadian venture capital funds and technology companies, raising $300 million. NVCF II, backed by Ottawa's Venture Capital Catalyst Initiative (VCCI), closed at its hard cap with the help of institutional, high-net-worth and family office investors. They included BDC Capital, Canada Pension Plan Investment Board, Sun Life and TD Bank Group, which joined the fund's initial close in December /canada/2018/12/cppib-joins-first-close-of-northleaf-venture-catalyst-fund-ii/ New money came from Manulife, BMO Capital Partners, clients of BMO Private Bank Asia and others. NVCF II has so far made commitments to Inovia Capital, StandUp Ventures and Versant Ventures.
Noblegen secures $25 mln in Series B deal, JRSL and BDC leadNoblegen, a Peterborough, Ontario-based advanced ingredients maker, has raised $25 million in a Series B financing, bringing total funding to $42.5 million. The round was led by Richardson Ventures, an affiliate of Canadian holding company James Richardson & Sons Ltd (JRSL), and the clean technology practice of Business Development Bank of Canada (BDC). Noblegen, founded in 2013 by CEO Adam Noble and Andressa Lacerda, makes proteins, carbohydrates and oils from the microorganism Euglena gracilis. Its technology enables production with minimal water and land use as well as a reduced carbon footprint. Noblegen will use the funds raised to scale production capabilities and bring its ingredients to market.
- Noblegen secures $25 mln in Series B deal, JRSL and BDC lead
Noblegen, a Peterborough, Ontario-based advanced ingredients maker, has raised $25 million in a Series B financing, bringing total funding to $42.5 million. The round was led by Richardson Ventures, an affiliate of Canadian holding company James Richardson & Sons Ltd (JRSL), and the clean technology practice of Business Development Bank of Canada (BDC). Noblegen, founded in 2013 by CEO Adam Noble and Andressa Lacerda, makes proteins, carbohydrates and oils from the microorganism Euglena gracilis. Its technology enables production with minimal water and land use as well as a reduced carbon footprint. Noblegen will use the funds raised to scale production capabilities and bring its ingredients to market.
Freshly funded OSF Commerce acquires Britain's BlueleafOSF Commerce has acquired Blueleaf, a Cheshire, United Kingdom-based digital commerce agency, for an undisclosed amount. Founded in 1999, Blueleaf provides retailers with user experience design and support for projects built on Salesforce Commerce Cloud. OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, said the deal gives it an established U.K. delivery centre that will facilitate the company's growth in the market. The acquisition follows this month's $31 million (US$23 million) financing /canada/2019/05/osf-commerce-secures-31-mln-in-delta-v-capital-led-round/ of OSF Commerce. The round was led by Delta-v Capital and joined by Salesforce Ventures.
- Freshly funded OSF Commerce acquires Britain's Blueleaf
OSF Commerce has acquired Blueleaf, a Cheshire, United Kingdom-based digital commerce agency, for an undisclosed amount. Founded in 1999, Blueleaf provides retailers with user experience design and support for projects built on Salesforce Commerce Cloud. OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, said the deal gives it an established U.K. delivery centre that will facilitate the company's growth in the market. The acquisition follows this month's $31 million (US$23 million) financing /canada/2019/05/osf-commerce-secures-31-mln-in-delta-v-capital-led-round/ of OSF Commerce. The round was led by Delta-v Capital and joined by Salesforce Ventures.
Fonds de solidarité FTQ invests $8.8 mln in Milestone's IPOFonds de solidarité FTQ invested $8.8 million in the initial public offering (IPO) of Milestone Pharmaceuticals Inc, a Montréal-based developer of therapies for treating episodic cardiovascular conditions. Milestone completed its IPO /canada/2019/05/venture-backed-milestone-prices-nasdaq-ipo-to-raise-111-mln/ on the Nasdaq Stock Market this month, raising about $111 million (US$82.5 million). Fonds de solidarité FTQ, a Canadian provider of development capital, has backed Milestone, directly and as a fund investor, since the company's founding in 2005 by CSO Philippe Douville. Its total investment prior to the IPO was $17.3 million.
BDC Capital provides mezz funding to venture-backed NicoyaBDC Capital has provided undisclosed mezzanine financing to Nicoya Lifesciences Inc, a Kitchener, Ontario-based nanotechnology company. The funding is part of a $7.7 million investment in Nicoya that is also backed by FedDev Ontario. BDC invested through its Growth & Transition Capital group. The funds raised will allow Nicoya to develop and market a new version of its flagship product, OpenSPR, a biosensor platform that supports biotechnology and pharmaceutical research applications, and meet demand. Last year, Nicoya closed a $2 million financing /canada/2018/01/nanotech-startup-nicoya-lifesciences-wins-2-mln-latest-deal/ led by Ripple Ventures and Golden Triangle Angel Network. BDC also invested in the round.
- BDC Capital provides mezz funding to venture-backed Nicoya
BDC Capital has provided undisclosed mezzanine financing to Nicoya Lifesciences Inc, a Kitchener, Ontario-based nanotechnology company. The funding is part of a $7.7 million investment in Nicoya that is also backed by FedDev Ontario. BDC invested through its Growth & Transition Capital group. The funds raised will allow Nicoya to develop and market a new version of its flagship product, OpenSPR, a biosensor platform that supports biotechnology and pharmaceutical research applications, and meet demand. Last year, Nicoya closed a $2 million financing /canada/2018/01/nanotech-startup-nicoya-lifesciences-wins-2-mln-latest-deal/ led by Ripple Ventures and Golden Triangle Angel Network. BDC also invested in the round.