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The Next 36 launches the Young Founders FundThe Next 36, a Canadian non-profit organization focused on supporting young entrepreneurs, has launched the Young Founders Fund. The fund, which will provide up to $50,000 in seed funding to businesses built within The Next 36 program, is led by BDC Capital. Other participants include Globalive Capital and Lee Lau of Alignvest Management Corp. The Young Founders Fund succeeds 36 Investments, which is now fully invested. Companies backed by the prior fund include Bridgit, a construction project management platform, Kira Talent, an online talent assessment specialist, and SeamlessMD, a patient engagement technology provider.
- The Next 36 launches the Young Founders Fund
The Next 36, a Canadian non-profit organization focused on supporting young entrepreneurs, has launched the Young Founders Fund. The fund, which will provide up to $50,000 in seed funding to businesses built within The Next 36 program, is led by BDC Capital. Other participants include Globalive Capital and Lee Lau of Alignvest Management Corp. The Young Founders Fund succeeds 36 Investments, which is now fully invested. Companies backed by the prior fund include Bridgit, a construction project management platform, Kira Talent, an online talent assessment specialist, and SeamlessMD, a patient engagement technology provider.
Digital health insurance platform LEAGUE nets $32 mln Series AToronto-based digital health insurance platform LEAGUE has secured about $32 million (US$25 million) in a Series A financing. OMERS Ventures, which led the company's seed financing /canada/2014/11/digital-health-and-wellness-startup-league-seeded-with-4-million/ in 2014, also led the Series A round. It was joined by Infinite Potential Technologies, Real Ventures and BDC IT Venture Fund, as well as strategic investors RBC, Manulife and Power Financial Corp. Founded in 2014 by CEO Michael Serbinis, who created e-reading company Kobo, LEAGUE aims to transform the healthcare experience in North America by emphasizing consumer care and lower costs. It said it would use the funds raised to expand its product offering and geographic reach.
- Digital health insurance platform LEAGUE nets $32 mln Series A
Toronto-based digital health insurance platform LEAGUE has secured about $32 million (US$25 million) in a Series A financing. OMERS Ventures, which led the company's seed financing /canada/2014/11/digital-health-and-wellness-startup-league-seeded-with-4-million/ in 2014, also led the Series A round. It was joined by Infinite Potential Technologies, Real Ventures and BDC IT Venture Fund, as well as strategic investors RBC, Manulife and Power Financial Corp. Founded in 2014 by CEO Michael Serbinis, who created e-reading company Kobo, LEAGUE aims to transform the healthcare experience in North America by emphasizing consumer care and lower costs. It said it would use the funds raised to expand its product offering and geographic reach.
Accel-Rx, BDC Capital lead $1.8 mln funding of ImStar TherapeuticsVancouver-based biotechnology startup ImStar Therapeutics Inc has obtained $1.8 million in seed-stage financing. Canadian health sciences accelerator Accel-Rx and venture capital firm BDC Capital led the round with investments of $500,000 each. The rest was accounted for by AviTx Inc and other private investors. Founded in 2012, ImStar is a developer of treatments for amyotrophic lateral sclerosis and other neurodegenerative disorders. The company's technology is based on the research of Dr. Jean Pierre Julien of Université Laval. ImStar said the funds raised will be used to advance pre-clinical work for its lead therapeutic program.
BDC unveils new brand identity to reach more entrepreneursThe Business Development Bank of Canada (BDC) has unveiled a new brand identity aimed at making its role and product offering better known to more entrepreneurs across Canada. Market research conducted in 2014 on the awareness of the bank suggested that entrepreneurs were not familiar with the firm and its services, BDC said. It plans to improve awareness with the new brand and a related advertising campaign. BDC Capital, the bank's investment arm, provides equity, quasi-equity, other types of financing and advisory services to small and medium-sized companies across Canada.
- BDC unveils new brand identity to reach more entrepreneurs
The Business Development Bank of Canada (BDC) has unveiled a new brand identity aimed at making its role and product offering better known to more entrepreneurs across Canada. Market research conducted in 2014 on the awareness of the bank suggested that entrepreneurs were not familiar with the firm and its services, BDC said. It plans to improve awareness with the new brand and a related advertising campaign. BDC Capital, the bank's investment arm, provides equity, quasi-equity, other types of financing and advisory services to small and medium-sized companies across Canada.
Versature secures $1.1 mln in debt financing from BDC, RBCVersature Corp, a Canadian phone solutions provider, has secured $1.15 million in funding. BDC Capital's Growth & Transition Capital provided $750,000 in subordinated debt, enabling an additional $400,000 in credit from the Royal Bank of Canada. Founded in 2003, Ottawa-based Versature provides cloud-based voice-over-Internet-protocol phone and communication solutions to businesses across Canada. It said the funds raised will support the company's continued growth by helping to expand its marketing and sales operations and target new strategic markets.
- Versature secures $1.1 mln in debt financing from BDC, RBC
Versature Corp, a Canadian phone solutions provider, has secured $1.15 million in funding. BDC Capital's Growth & Transition Capital provided $750,000 in subordinated debt, enabling an additional $400,000 in credit from the Royal Bank of Canada. Founded in 2003, Ottawa-based Versature provides cloud-based voice-over-Internet-protocol phone and communication solutions to businesses across Canada. It said the funds raised will support the company's continued growth by helping to expand its marketing and sales operations and target new strategic markets.
BDC, 500 Startups commit to $1.1 mln seed funding of RoverRover Labs Inc, a Canadian location-based mobile marketing platform, has raised $1.1 million in seed-stage financing. BDC Capital and 500 Startups invested in the round, alongside a number of angel investors. Founded in 2014, Toronto-based Rover has developed technology that helps retailers and brands deliver smarter, location-powered mobile content. The company said it will use the funds raised to enhance its product and strengthen its sales and marketing teams. It will also intensify hiring in Rover's Toronto and San Francisco offices. Earlier this year, 500 Startups launched 500 Canada, a new US$30 million fund /canada/2016/3/500-startups-launches-30-mln-canadian-fund-2/ earmarked for Canadian startups.