The Business Development Bank of Canada related stories
All articles and analysis
GE Ventures leads $17.2 mln round for BitStew SystemsBit Stew Systems said Tuesday it raised an additional $17.2 million in a Series B funding round led by GE Ventures. Existing investors Cisco Investments and Yaletown Venture Partners participated while BDC Capital, a new investor, took part. Bit Stew, of Vancouver, British Columbia, provides a platform that aims to manage massive data sets in industrial environments.
VC-backed Profound Medical to go public, raises $28 mln in new fundingProfound Medical Inc has launched a going-public transaction via a reverse take-over of Mira IV Acquisition Corp (TSXV: MRY.P), which trades on the TSX Venture Exchange. The company has also completed a private placement for gross proceeds of about $24 million. Two long-time venture capital investors in Profound Medical, Genesys Capital and BDC Capital, joined the offering and provided bridge financing. Strategic investor Knight Therapeutics Inc also joined the offering and extended a $4 million secured loan. The Toronto-based Profound Medical, which was founded in 2008, is a medical device business focused on developing and commercializing a minimally invasive treatment for prostate cancer.
Kensington Capital opens Calgary office, hires Michelle ScarboroughCanadian alternative assets investor Kensington Capital Partners has opened an office in Calgary. The initiative is intended to help access new energy technology opportunities in Western Canada for Kensington Venture Fund, a venture fund of funds that raised an initial $160 million /canada/2014/11/19/canadian-public-private-venture-fund-raises-c160-mln-reuters/ last November. Kensington's office in Calgary will be led by Senior Vice President Michelle Scarborough, previously a founder and managing partner of Canadian venture capital firm Fronterra Ventures. Scarborough is also the chair of the National Angel Capital Organization, and the founder of the Women's Angel Network in Canada.
- Extreme Venture Partners, BDC Capital invest in SensorSuite
SensorSuite Inc. said Monday that it closed a round of funding from Extreme Venture Partners, BDC Capital, and private angels. Financial terms weren’t announced. Mississauga, Ontario -based SensorSuite provides wireless monitoring and energy saving solutions for multi-residential, commercial, and industrial buildings.
SensorSuite raises $550k in funding to enable connected buildingsSensorSuite Inc, a provider of wireless monitoring and energy solutions to multi-residential, commercial and industrial buildings, has received $550,000 in financing. The backers of the round included Canadian venture capital firms Extreme Venture Partners and BDC Capital, as well as a number of angel investors. The company, which is based in Toronto, said the proceeds of the investment will support growth of its project pipeline and help fuel development of its smart buildings technology platform. SensorSuite was founded in 2012 by CEO Robert Platek, CTO Marc Carignan, Chief of Operations Vlad Platek and Vice President Salman Habib.
HarbourVest Canada Growth Fund lands C$197 mln in initial closeThe HarbourVest Partners fund becomes the fourth to raise commitments from the government’s VCAP program to support domestic venture capital
HarbourVest Canada Growth Fund lands $197 mln in initial closeHarbourVest Canada Growth Fund, a venture fund of funds managed by Boston-based asset manager HarbourVest Partners, has secured $197.2 million in an initial close. The fund, the fourth to be formed in partnership with Ottawa's Venture Capital Action Plan (VCAP), raised about two-thirds of its commitments from a mix of banks, corporations and institutional investors.
Solantro Semiconductor nets $11 mln Series B funding to spur productionSolantro Semiconductor Corp has raised $11 million as part of a Series B financing. Backing the round were existing investors, including Black Coral Capital, BDC Capital, Presidio Ventures, Clean Energy Venture Group and Export Development Canada, and new investor Inerjys Ventures, a Canadian clean technology venture capital firm. Solantro, which is based in Ottawa, said the proceeds of the deal will help it to increase production of its platform technology, which is used for power conversion applications across distributed renewable energy networks. Founded in 2009, the company is led by CEO Antoine Paquin, a Canadian serial entrepreneur and investor.
BDC Capital, SR One lead $21 mln Series D round for Thrasos TherapeuticsThrasos Therapeutics, a Montréal-based biotherapeutics company focused on delivering new treatments for kidney disease, has raised $21 million in a Series D round. BDC Capital and SR One led the financing with the participation of all existing investors, which include Advanced Technology Ventures, Fonds de solidarité FTQ, Lumira Capital, MP Healthcare Venture Management and Pappas Ventures. With the deal's closing, BDC Managing Partner Ela Borenstein has joined Thrasos' board of directors. Update: The company said it will use the new investment's proceeds to advance its technology and to position its lead program for the next step in clinical development.
- BDC Capital and SR One leads Series D round for Thrasos
Montreal-based Thrasos Therapeutics, a biotherapeutics company focused on kidney disease, has closed $21 million in Series D funding. BDC Capital and SR One led the round. In conjunction with the funding, Ela Borenstein, a manager partner at BDC, has been added to the Thrasos board of directors.