The Business Development Bank of Canada related stories
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TandemLaunch nets $12 mln in initial close of third seed fundCanadian venture capital firm TandemLaunch has secured $12 million in the first close of its third fund, TandemLaunch Ventures II. BDC Capital was the lead investor in the fund, committing $4 million, with the balance accounted for by Guy Laliberté's Lune Rouge Innovation, Speed of Trust Ventures, YUL Ventures, Nathalie Marcoux and Jean-Francois Grenon. Founded in 2010 by General Partner Helge Seetzen, TandemLaunch creates, incubates and provides seed funding to companies in consumer electronics and multimedia technologies. Its portfolio investments include Landr Audio/canada/2015/7/landr-audio-raises-6-2-mln-from-warner-music-group-vcs-and-artists/ Mirametrix, which PE Hub Canada profiled along with /canada/2014/6/tandemlaunchs-helge-seetzen-shares-the-secret-of-mirametrixs-innovation/ TandemLaunch in June 2014, and Sportlogiq/canada/2015/7/sportlogiq-seeded-with-1-7-mln-from-tandemlaunch-angel-investors/
Bit Stew raises Series CBit Stew Systems announced May 19 an initial close of a Series C found. Financial terms weren’t disclosed. Investors include Yaletown Partners, GE Ventures, BDC Capital and Kensington Capital Partners. Burnaby, British Columbia-based Bit Stew provides a platform for complex data integration, data analysis, and predictive automation for connected devices on the Industrial Internet of Things (IIoT).
- Antares makes healthcare key part of growth strategy
The CPPIB-owned lender, which has big growth plans, intends to raise its loan hold size and ramp up its back office operations.
Assent Compliance nets $20 mln in Volition Capital-led fundingOttawa-based software-as-a-service and data company Assent Compliance Inc has secured $20 million in financing. U.S. growth equity firm Volition Capital led the round and was joined by OpenText Enterprise Application Fund, BDC Capital, National Research Council of Canada, Royal Bank of Canada and other investors. Founded in 2005, Assent provides an automation platform that helps businesses manage their supply chain and product compliance efforts. It said the funds raised will support further investment in its technology and more staff hires, particularly in research and product management. Assent is led by CEO Andrew Waitman, formerly a managing partner at Celtic House Venture Partners.
LemonStand nets $1.25 mln in seed funding from BDC, angelsVancouver-based e-commerce platform LemonStand has secured $1.25 million in seed-stage financing. The backers of the round included BDC Capital IT Venture Fund and angel investors Barry X. Lynn, Paul Rochester and Hank Massey. Founded in 2010 by CEO Danny Halarewich, LemonStand is a provider of customizable, cloud-based technology that supports web developers, agencies and brands in creating online stores. It said it plans to use funds raised to invest in continued product development and to accelerate the company's recruitment of new partners.
BDC Capital wades into growth equity with hire of Roynat’s Elmer KimBusiness Development Bank of Canada has recruited a seasoned investment pro to help it carve out a role in Canada’s under-served growth equity market. Last month BDC Capital brought on Elmer Kim as vice president, growth equity. The hire puts Kim at the head of a new investment platform, BDC Capital Growth Equity, intended to focus on the minority equity-financing needs of mature small and medium-sized companies.
BDC Capital provides $10 mln loan for BioAmber's Sarnia plantCanadian renewable chemicals company BioAmber Inc (NYSE: BIOA) has secured a $10 million loan from BDC Capital. The loan, which does not contain any convertible features or warrants, will provide working capital for the company's bio-based succinic acid plant in Sarnia, Ontario. The plant, which opened last year, is a joint venture with Mitsui & Co. Founded in 2008, Montréal-based Bioamber was venture-backed before going public in 2013.
TerraPro reorganizes with sub-debt financing from BDCSherwood Park, Alberta-based TerraPro Inc has reorganized its business under the same management team and a reconstituted board of directors. TerraPro secured funding as part of the transaction, including subordinated debt from the Business Development Bank of Canada (BDC). No financial terms were released. The proceeds of the funding will be used to repay obligations to a previous lender, deal costs, and other priorities, the company said. TerraPro is a provider of terrain protection and environmental products, equipment and services to a variety of industries in Canada and abroad.
Eigen Innovations raises $1.4 mln from NBIF, BDC and angelsEigen Innovations Inc has raised $1.4 million in follow-on funding. The round's investors included New Brunswick Innovation Foundation (NBIF), BDC Capital and several angel investors. Based in Fredericton, New Brunswick, Eigen is a provider of vision systems, sensors, and software that increase the efficiency of manufacturing systems. Along with its fundraising, the company announced that Co-Founder and CTO Scott Everett has replaced Richard Jones as CEO. Jones will remain on Eigen's board of directors.
Acuva Technologies nets $850k in oversubscribed seed roundAcuva Technologies Inc has secured $850,000 in an oversubscribed seed-stage financing. The Canadian investors included BDC Capital, entrepreneurship@UBC Seed Fund, and several angel investors. Vancouver-based Acuva is a developer of point-of-use water purification systems using ultraviolet light emitting diode technology created at the University of British Columbia. It is currently selling products for recreational boats and vehicles and for off-grid home use in North America, and plans to bring the technology to developing countries by 2020.