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SDTC commits $12.75 mln to venture-backed General FusionSustainable Development Technology Canada (SDTC) has committed $12.75 million to Vancouver-based General Fusion Inc. The funding will support continued development of the company's fusion energy technology, culminating in the design of a full-scale fusion energy demonstration system. General Fusion is partnering with McGill University's Shock Wave Physics Group and engineering business Hatch Ltd on the system. Founded in 2002, General Fusion has secured more than $100 million in venture capital financing. Its last round, led by Malaysian investor Khazanah Nasional Berhad, was closed in May 2015 /canada/2015/05/19/general-fusion-raises-27-mln-signs-on-malaysian-strategic-investor/
SourceKnowledge raises $1.5 mln from BDC CapitalSourceKnowledge raised $1.5 million in financing from BDC Capital, a subsidiary of the Business Development Bank of Canada. Based in Montreal, SourceKnowledge is a programmatic video platform that measures success based on post-click behavior.
BDC Capital lends $1.5 mln to video ad platform SourceKnowledgeCanadian video advertising technology company SourceKnowledge has secured $1.5 million in mezzanine financing. The investment was made by Growth and Transition Capital, a division of BDC Capital. Montréal-based SourceKnowledge said the funds will be used to scale growth in its performance advertising platform Engage, which gives marketers tools to identify, recapture, convert, and measure high-value audiences across any device. It also plans to increase marketing efforts across North America. Founded in 2009, SourceKnowledge was recognized by Deloitte's 2015 Technology Fast 500 http://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/fast500-winners.html for a 133 percent growth rate between 2011 and 2014.
BDC Capital launches $150 mln IT fund to fill mid-stage financing gapBDC Capital has launched its second information technology venture fund, IT Venture Fund II, sized at $150 million. The fund, which brings capital managed by the BDC Capital IT Venture Fund group to $300 million, will be focused on Series A and B financings of mature startups that "have a product in market and are already generating revenues from customers,” Managing Partner Robert Simon said. The fund will thereby help address a mid-stage financing gap now facing Canadian software companies, Simon said. Fund II, which will continue to lead most of its deals and leverage syndicate partners, has already made 11 investments. They include online retailer Cymax, which raised US$25 million last October /canada/2015/10/14/cymax-raises-25-million-eyes-ipo-reuters/
Avrio Capital's third late-stage agribusiness fund raises $110 mlnCanadian venture capital firm Avrio Capital has raised $110 million in the final close of its third institutional late-stage fund, Avrio Ventures LP III. The fund closing, which included the launch of a parallel investment vehicle, is the largest in Calgary-based Avrio's history. Fund III's limited partners included cornerstone investors Farm Credit Canada and Export Development Canada, as well as Alberta Enterprise Corp, BDC Capital, Fondaction CSN, HarbourVest Canada Growth Fund and several family offices. Founded in 2002, Avrio invests in innovative food and agriculture companies. Its team has deployed more than $200 million to 50 portfolio companies, including Farmers Edge Inc /canada/2016/01/27/farmers-edge-nets-58-mln-in-round-led-by-mitsui-kleiner-perkins/ and Hortau Inc /canada/2016/02/04/smart-irrigation-platform-hortau-secures-10-mln-in-funding/ .
Smart irrigation platform Hortau secures $10 mln in fundingHortau Inc, a Canadian provider of precision irrigation management systems and services, has raised $10 million in follow-on financing. The investment was led by Advantage Capital Agribusiness Partners, a partnership of U.S.-based Advantage Capital Partners and nine farm credit organizations. It was joined by Canadian investors BDC Capital, Avrio Capital and Capital régional et coopératif Desjardins. Lévis, Québec-based Hortau said the new funds will allow it to continue growing. The company plans to expand its technical, grower support and research teams in 2016, and to expand into additional regions. Founded in 2002, Hortau's U.S. operations are located in San Luis Obispo, California.
- Hortau snaps up $10 mln
San Luis Obispo, California and Quebec-based Hortau, a provider of precision irrigation management solutions, has raised $10 million in funding. Advantage Capital Agribusiness Partners LP led the round with participation from BDC Capital Inc, Avrio Ventures and Capital régional et coopératif Desjardins.
Canadian SMEs to invest $111 bln in growth this year: BDCDespite current economic uncertainty, over three-quarters of Canadian small and mid-sized enterprises (SMEs) plan to invest in developing their business this year, a new report by the Business Development Bank of Canada (BDC) has found. According to a BDC survey of 4,000 entrepreneurs, SMEs plan to deploy $111 billion to development in 2016, which is comparable to what was invested last year. Investment strategies will focus primarily on growth and raising levels of productivity or efficiency. A minority of SMEs (10 percent) account for the lion's share of planned investments, the survey found.
- BDC Capital increases lead commitment to Mistral Venture Partners
BDC Capital has made an additional $3 million commitment to a seed and early-stage information technology fund managed by Mistral Venture Partners, a Canadian venture capital firm. The investment, which brings BDC's total lead commitment to $6 million, will support Mistral's ability to undertake follow-on financings, BDC said. Founded in 2013, Ottawa-based Mistral is led by Code Cubitt, the firm's managing director, and Bernie Zeisig, its managing partner. Mistral's 2015 deals include The Better Software Co /canada/2015/11/11/better-software-nets-1-35-mln-in-round-led-by-ff-venture-capital/ , a provider of SaaS solutions to small businesses, and CENX /canada/2015/08/11/cenx-rakes-in-12-5-mln-series-d/ , a provider of orchestration solutions for software-defined and virtualized networks.
BDC Capital signs up to Invixium's $4 mln Series A financingBDC Capital has joined the $4 million Series A financing of Invixium, a Toronto-based maker of advanced biometric security devices and solutions for the industrial and enterprise markets. The round, announced in October 2015 /canada/2015/10/27/mcrock-capital-leads-4-mln-series-a-financing-of-invixium/ was led by McRock iNFund LP, an industrial Internet of Things fund managed by McRock Capital. BDC co-invested through its Industrial, Clean and Energy Technology Venture Fund. Founded in 2012, Invixium has sold over 3,500 products to government and business customers in the Middle East, North Africa, India and North America, the company reported.