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Matt Price named managing director at BDC's Growth & Transition CapitalMatt Price (pictured) has been appointed a managing director in the Growth and Transition Capital (GTC) division of BDC Capital, effective August 10th. Price, who before joining GTC's Ottawa office in 2013 worked in the investment banking group at Scotiabank, will be based in Vancouver. He will focus on growing GTC's investment portfolio in British Columbia and Northern Canada. GTC was profiled by peHUB Canada /canada/2014/11/17/bridging-the-gap-between-debt-and-equity-bdcs-600-mln-strategy/ last November.
Molecular diagnostics company Xagenic nets $15 mln in new fundingToronto-based molecular diagnostics company Xagenic Inc has secured a total of $15 million in follow-on funding. Each of the Canadian and U.S. investors in Xagenic's Series B financing, which had a second close at $25.5 million /canada/2014/07/14/bdc-capital-tops-up-xagenics-25-5-mln-series-b-dion-madsen-join-board/ in July 2014, participated in the latest round. They included: Domain Associates, CTI Life Sciences Fund, BDC Capital and the Ontario Capital Growth Corp. Xagenic President and CEO Timothy I. Still said the new capital injection will help "accelerate our development efforts in bringing our point-of-care diagnostic platform to market.” The company was founded in 2010.
Xagenic scores Series B fundsToronto-based molecular diagnostics company Xagenic has secured C$15 million in Series B funding. The investors included Domain Associates, CTI Life Sciences, BDC Capital and the Ontario Capital Growth Corporation.
McRock Capital’s Fund I nears final close after signing up second strategic LPMcRock Capital, an investor in the industrial Internet, is preparing to wrap up its debut fund after securing a commitment from one of the world’s largest electric utilities. The Toronto-based firm announced today that McRock iNFund LP received an undisclosed investment from France’s EDF, its second strategic backer. As a result, Fund I moved closer to reaching its goal of $65 million of committed capital.
AquaTerra's Michael Denham tapped as president of BDCMichael Denham has been appointed president of the Business Development Bank of Canada (BDC), effective August 10, 2015. Denham is currently the president of AquaTerra Corp, a Canadian water company. Prior to joining AquaTerra, he held a number of senior leadership positions at Accenture PLC, CGI Group Inc, Bombardier and McKinsey & Co. Headquartered in Montréal, BDC provides loans, consulting services, growth and transition capital, securitization and venture capital to more than 30,000 small and medium‑sized companies.
Canadian angel investment activity reaches $91 mln in 2014The National Angel Capital Organization today released its 2014 angel activity report based on a survey of Canadian angel groups, which represents more than 1,700 individual investors. A total of 237 angel investments were completed last year for a combined $90.5 million of financing. This constituted a 19 percent increase over the 199 deals reported in 2013, but dollars invested saw little change year-over-year, going up only 2 percent.
VC-backed Spring Loaded wins BDC's young entrepreneur awardHalifax-based Spring Loaded Technology has won the 2015 BDC Young Entrepreneur Award, which provides a $100,000 grand prize to innovative Canadian entrepreneurs between the ages of 18 and 35. Of the ten finalists selected to compete, Spring Loaded co-founders Chris Cowper-Smith and Bob Garrish won as a result of their bionic knee-brace technology, which was developed to improve mobility, rehabilitation, strength and performance. The company, which was seeded by /canada/2014/10/03/spring-loaded-technology-seeded-with-1-8-million-by-innovacorp-angels/ Innovacorp and angel investors in 2014, said it will use the prize money to help bring its technology to market this fall. The contest runner-up was Real Food Market's Melissa Butler.
BDC, Fonds régionaux de solidarité FTQ invest in bike maker Argon 18Argon 18, a Canadian manufacturer of high performance racing bicycles sold in 70 countries, has received an investment from BDC Capital and the Fonds régionaux de solidarité FTQ, an affiliate of the Fonds de solidarité FTQ. The value of the investment was not disclosed. Argon 18, which is currently preparing for its first Tour de France with its BORA-Argon 18 team, said the capital infusion will support its growth plan. Based in Montréal, the company was founded in 1989. BDC made its investment in Argon 18 through its Growth and Transition Capital /canada/2014/11/17/bridging-the-gap-between-debt-and-equity-bdcs-600-mln-strategy/ division.
- Milestone Pharma raises $17 mln
Milestone Pharmaceuticals Inc. said Monday that it closed a $17 million series B financing led by Domain Associates. All of Milestone's existing investors including Fonds de solidarité FTQ , Pappas Ventures, BDC Capital, GO Capital and iNovia Capital participated in the round. Montreal-based Milestone Pharma is a clinical stage cardiovascular company.
Milestone Pharmaceuticals nets $17 mln in Series B funding roundMilestone Pharmaceuticals Inc, a Canadian drug developer focused on cardiovascular diseases, has raised US$17 million in Series B funding. U.S. venture capital firm Domain Associates led the round with participation from the company's existing investors, including the Fonds de solidarité FTQ, Pappas Ventures, BDC Capital, GO Capital and iNovia Capital. In conjunction with the deal, Domain's Debra Liebert was added to Milestone's board of directors. Update: The company, which has its headquarters in Montréal, said proceeds of the round will be used to complete Phase 2 clinical development of its lead product. Founded in 2005, Milestone has raised more than US$30 million in venture funding to date.