The Business Development Bank of Canada related stories
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VC-backed Kira Talent acquires video interviewing service LikeLiveKira Talent, which earlier this year raised additional venture capital funding /canada/2015/03/11/kira-talent-picks-up-1-2-mln-seed/ has bought LikeLive, a U.S.-based video interviewing service. The financial terms of the deal were not released. Kira, the Toronto-based company behind Kira Academic, a video-based talent assessment platform designed for university and college admissions, said the purchase will substantially increase its client list. Founded in 2012, Kira's technology is currently being used by schools in Europe, North America, Australia and Asia. It is backed by Canadian venture capital firm Relay Ventures, the Business Development Bank of Canada, and several angel investors.
Modus Structures wins BDC Entrepreneurial Resiliency AwardModus Structures Inc, a designer and builder of high-performance modular buildings, has won the 2015 BDC Entrepreneurial Resiliency Award. The award, which is sponsored by the Business Development Bank of Canada (BDC) in partnership with the Turnaround Management Association, Montréal chapter (TMA-Montréal), recognizes a Canadian company that emerged stronger after undergoing a turnaround or pivotal event. After experiencing significant losses following the 2008 recession, Crossfield, Alberta-based Modus executed a successful turnaround that preserved jobs and fueled growth, BDC and TMA-Montréal said.
- BDC, IQ commit funding to support Pascan Aviation's restructuring
Regional airline Pascan Aviation Inc has filed for creditor protection to facilitate a restructuring of its operations. Its two creditors, the Business Development Bank of Canada (BDC) and Investissement Québec (IQ) will provide $1 million in interim financing to support Pascan's recovery plan. Founded in 1999, the company has its headquarters in Saint-Hubert, Québec.
- H.I.G. Capital invests in US Med
H.I.G. Capital LLC said Thursday that it has invested in United States Medical Supply Inc. (US Med) Inc. via a recapitalization. Financial terms weren’t announced. Miami-based US Med is a national provider of mail-order medical supplies.
- CTI and Discovery Capital back PHEMI
Vancouver, British Columbia-based PHEMI, a big data warehouse company, has secured C$12.2 million in funding. CTI Life Sciences Fund and British Columbia Discovery Fund led the round with participation from other investors that included BDC Capital Healthcare Venture Fund and Yaletown Venture Partners.
CENX nets $12.5 mln in Series D round joined by BDC Capital, MistralCENX Inc, a software company delivering service orchestration solutions for software-defined and virtualized networks, has secured $12.5 million in Series D financing. New investors in the round included Canadian venture capital firms BDC Capital and Mistral Venture Partners and U.S.-based VMware. They joined existing backers Highland Capital Partners, Mesirow Financial Private Equity, Verizon Ventures, Ericsson, DCM Ventures and Cross Creek Advisors. CENX, which is based in Ottawa, said the investment will accelerate its expansion in the global lifecycle service orchestration (LSO) market. Founded in 2009, the company also has operating offices in Hoboken, New Jersey and London.
- CENX rakes in $12.5 mln Series D
CENX, a provider of service orchestration solutions for software-defined networks, has secured $12.5 million in Series D funding. The investors were BDC Capital, Mistral Venture Partners, VMware, Highland Capital Partners, Mesirow Financial Private Equity Inc, Verizon Ventures, Ericsson, DCM Ventures and Cross Creek Advisors.
VCAP-backed Kensington Venture Fund raises $237 mln in third closeKensington Venture Fund, a venture fund-of-funds managed by Canadian alternative assets investor Kensington Capital Partners, has increased its total capital committed to $237 million in a third close. The fund added $44 million from its second close last month /canada/2015/06/04/vcap-backed-kensington-venture-fund-reaches-193-mln-in-second-close/ as a result of new commitments from a mix of institutional investors, family offices and individual investors. At the new level, Kensington Venture Fund is now closing in on its final target of $300 million. Launched last November /canada/2014/11/19/canadian-public-private-venture-fund-raises-c160-mln-reuters/ with the backing of Ottawa's Venture Capital Action Plan (VCAP), the fund has so far completed commitments to seven Canadian venture capital funds and direct investments in four Canadian startups.
BDC Capital's venture capital commitments top $1 bln in 2014The Business Development Bank of Canada (BDC) reported that its client list of Canadian entrepreneurs running small and medium-sized businesses hit a record 32,000 last year. Its activities in 2014 included authorizing $114.8 million in investments in support of Ottawa's Venture Capital Action Plan (VCAP) and creating BDC Capital, which brings together the bank's two teams responsible for venture capital and growth and transition capital. The bank also reported BDC Capital's venture capital investment commitments now exceed $1 billion. The growth and transition capital group, profiled by peHUB Canada last November /canada/2014/11/17/bridging-the-gap-between-debt-and-equity-bdcs-600-mln-strategy/ accounted for $231.5 million in financing in 2014.
Procurify seeded with $4 mln from VCs, Hootsuite executivesProcurify, a cloud-based procurement management solution, has received US$4 million in seed funding. Investors in the round included Point Nine Capital, Nexus Venture Partners and the Business Development Bank of Canada (BDC). Ryan Holmes and Steve Johnson, CEO and chief revenue officer of Hootsuite, also invested and have become advisors to the Vancouver-based company. Procurify's software-as-a-service platform helps small businesses manage both direct and indirect spending. It said the proceeds of the latest round will be used to invest in sales, marketing and product development.