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Diablo Technologies secures $19 mln in ICV-led Series C fundingDiablo Technologies Inc, an Ottawa-based provider of memory technology solutions, has raised $19 million in a Series C financing. The round was led by a new investor, Israeli venture capital firm ICV. Existing Diablo investors Battery Ventures, BDC Capital, Celtic House Venture Partners and Hasso Plattner Ventures also participated. Founded in 2003, Diablo is focused on delivering products that enhance the performance and capability of memory system designs. It plans to use the proceeds of the Series C round to further accelerate customer deployments through expansion of sales, applications support and research. The company opened an office in Silicon Valley in 2014.
Zymeworks nets $61.5 mln in Series A round led by BDC, LumiraVancouver-based Zymeworks, a biotherapeutics company, has raised US$61.5 million in Series A mezzanine financing. BDC Capital and Lumira Capital led the round with participation from other investors that included Eli Lilly and Co, Celgene, CTI Life Sciences Fund, the Fonds de solidarité FTQ, Perceptive Advisors, Teralys Capital, Northleaf Venture Catalyst Fund, Brace Pharma Capital and Merlin Nexus. With the round, Dion Madsen, a senior managing partner at BDC Capital, will join Zymeworks’ board of directors, while Dr. Daniel Hétu, a managing director at Lumira Capital, will become an observer. The round's proceeds will support clinical development of Zymeworks' lead therapeutic candidates.
BDC Capital snaps up HSBC Bank’s Darren OkoBDC Capital has recruited Darren Oko, a Canadian commercial banker and investment pro, to serve as director in its Growth and Transition Capital group. Oko previously worked at HSBC Bank Canada, where he served in a number of executive roles, including in the bank's private equity group.
Trulioo snaps up $15 mlnVancouver, British Columbia-based Trulioo, a provider of identity verification solutions, has secured $15 million in funding. The investors included American Express Ventures, BDC Capital, Blumberg Capital and Tenfore Holdings. In conjunction with the funding, Andrew Lugsdin, a partner at BDC Capital, is joining Trulioo's board of directors.
Trulioo secures $15 mln to bring identify verification to banksTrulioo has raised $15 million in follow-on financing. The investors in the round included American Express Ventures and Trulioo's existing backers: BDC Capital, Blumberg Capital and Tenfore Holdings. With the deal, BDC's Andrew Lugsdin will join the company's board of directors, Based in Vancouver, Trulioo is a provider of identity verification for the online payments industry. It said the new funds will help it grow to support banks in meeting cross-border compliance requirements. To that end, Trulioo will expand its sales team, technical infrastructure and customer support, and acquire data. In 2014, Trulioo raised US$6 million in Series A financing /canada/2014/03/12/identity-verification-platform-trulioo-nets-6-mln-in-series-a-round/ and a strategic investment /canada/2014/08/26/ust-global-makes-strategic-investment-in-vc-backed-trulioo/ from UST Global.
3esi raises growth funding from Rubicon Technology PartnersCalgary-based 3esi has secured a growth investment from Rubicon Technology Partners, a U.S. private equity firm focused on lower mid-market enterprise software companies. The investment's value was not disclosed. Founded in 2005, 3esi is a provider of integrated portfolio, planning, and execution solutions for the upstream oil and gas industry. It plans to use its partnership with Rubicon to accelerate organic growth and undertake more strategic acquisitions. In September, the company bought http://3esi.com/3esi-acquires-portfolio-decisions/ Portfolio Decisions, a consulting and portfolio optimization software company. 3esi previously received funding from BDC Capital and other investors.
Need to meet: Neal Hill, vice president, BDC Capital Fund of FundsBDC Capital Fund of Funds played an essential role in this year’s revival of venture fundraising in Canada. For the group’s head, BDC Vice President Neal Hill, that’s just the beginning. BDC’s funds group plans to increase its annual commitments to $100 million or greater, with a portion of the money earmarked for larger-sized Canadian venture capital funds.
Startup Canada recognizes CAPE Fund founder Paul MartinThe Right Honourable Paul Martin, Canada's 21st Prime Minister, was recently named one of the recipients of the 2015 Startup Canada Awards. Martin was awarded the Adam Chowaniec Lifetime Achievement Award /canada/2015/11/17/startup-canada-edc-unveil-adam-chowaniec-memorial-fund/ for his role in founding the CAPE Fund. Launched in 2009, the CAPE Fund is a $50 million private equity fund focused on investing in aboriginal enterprises and entrepreneurs. Its investments include Manitobah Mukluks, a footwear manufacturer, and One Earth Farms, an agri-food producer.
Women-owned companies see first $150 mln of BDC programCanadian women-owned businesses have so far seen $150 million in commitments from a $700 million program launched earlier this year by the Business Development Bank of Canada (BDC). The program, announced in March /canada/2015/03/23/bdc-earmarks-700-mln-to-finance-women-owned-businesses/ aims to increase term lending to companies led by women over a three-year period. BDC client data show these companies earn less than half of the revenue of comparable men-owned entities
BDC earmarks $500 mln for small businesses hit by lower oil pricesThe Business Development Bank of Canada (BDC) has earmarked $500 million in additional financing for Canadian small and medium-sized businesses impacted by the decline in oil prices. It will also offer advisory services to enterprises that are looking to adjust operations in response to the economic downturn. BDC said the focus of its strategy will be to help companies with projects aimed at diversifying their business, increasing operational and environmental efficiency, improving financial management, and purchasing new technology and equipment.