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Ranovus bags additional $24 mln in venture capital fundingRanovus Inc, a Canadian provider of multi-terabit interconnect solutions for data centre and communications networks, has secured an additional US$24 million in financing from new and existing investors. Canadian and international venture capital firms that back the company include Azure Capital Partners, BDC Capital, Export Development Canada, MaRS Investment Accelerator Fund, OMERS Ventures and T-Venture. Update: Founded in 2012, the Ottawa-based Ranovus plans to use the new funding to accelerate its expansion plan to support product delivery to global customers. The company raised /canada/2013/09/25/ranovus-secures-11-mln-financing-canadian-u-s-venture-firms/ an original $11 million round in September 2013.
- Ranovus bags $24 mln
Ranovus, a provider of multi-terabit interconnect solutions for data center and communications networks, has secured $24 million in financing. Its backers include Azure Capital Partners, T-Venture, BDC Venture Capital, OMERS Ventures and MaRS Investment Accelerator Fund.
- REGEN Energy closes Series B funding round on over $12 mln
REGEN Energy Inc., which provides a wireless smart grid technology platform for building owners to manage electrical demand, has closed its Series B funding round on more than $12 million. The funding round was led by new investors including a U.S. utility company, Export Development Canada and EnerTech Capital, and was supported by existing REGEN investors BDC Capital and NGEN Partners.
- TVM closes latest life sciences fund on $201.6m
The VC firm’s seventh vehicle will invest in early-stage molecules
TVM Capital Life Science closes $201.6 mln for fundTVM Capital Life Science said Monday that it has raised more than $201.6 million in the final close of its latest fund, TVM Life Science Ventures VII.
TVM Capital Life Science closes Fund VII at $202 mlnTVM Capital Life Science, a global venture capital firm with an office in Montréal, has closed its TVM Life Science Ventures VlI. Focusing on achieving human clinical proof-of-concept for early-stage drug development projects, Fund VII raised US$201.6 million from cornerstone investors Teralys Capital and Eli Lilly and Co, as well as the Business Development Bank of Canada (BDC), Minnesota Life Insurance Co, CD Venture, Fondaction CSN and a number of pharmaceutical companies. Fund VII targets 12 to 15 project-focused-companies and up to five traditional, syndicated venture capital investments. Earlier this year, it invested /canada/2014/05/22/fonds-de-solidarite-tvm-and-synta-team-up-to-form-prcl-research/ in Montréal's PRCL Research Inc, a special purpose company that develops pharmaceutical assets.
Randall Howard named Canadian Angel of the Year by NACO, BDCThe National Angel Capital Organization and BDC Capital have given the Canadian Angel of the Year award to Randall Howard. A senior technology executive, Howard has invested and mentored more than 20 early-stage companies, primarily in the Waterloo region of Ontario. He is the founder and also a partner at boutique technology investment firm Verdexus. Howard is also chairman of Verdexus portfolio company iotum, a Toronto-based operator of online collaboration.
Real Ventures grows Fund III to $75 mln, adds partner and principalCanadian venture capital firm Real Ventures has added $25 million to the $50 million it raised in April in the first close of Real Ventures III. The investors in the latest close include the Business Development Bank of Canada, Export Development Canada and Fondaction CSN, as well as several family offices and individuals. Fund III has a target of $100 million, peHUB Canada previously reported /canada/2014/01/13/real-ventures-3-0-to-launch-with-imminent-first-close-of-100-million-partnership/ Montréal-based Real Ventures also announced that former eBay and Kijiji executive Janet Bannister has joined the firm as a general partner, while former consultant and startup entrepreneur Omar Dhalla has joined as a principal. Operating from Toronto, Bannister and Dhalla will focus on deal opportunities in the Toronto-Waterloo corridor.
Cycle Capital, BDC invest $8 mln in Series A funding of Agrisoma BiosciencesAgrisoma Biosciences Inc has secured $8 million in a Series A financing. The round was led by Canadian clean technology venture capital firm Cycle Capital Management and was joined by BDC Capital, which has invested in the company since 2002. An agricultural technology company, the Gatineau, Québec-based Agrisoma has commercialized carinata, a non-food oilseed crop designed for the sustainable production of biofuels. It plans to use proceeds of the latest round to promote further commercialization and expand into new areas of production. As a result of the deal, Cycle founder and managing partner Andrée-Lise Méthothas joined Agrisoma's board of directors.
MaRS IAF, Slaight, BDC provide $900k to seed native advertiser StackAdaptStackAdapt, developer of a native advertising technology that helps publishers add another channel of monetization through non-banner advertising, has closed a $900,000 seed-stage financing round. Investors included MaRS Investment Accelerator Fund, Slaight Communications and the Business Development Bank of Canada (BDC), which provided debt to the round. StackAdapt said the funds would be used to fuel further growth and expansion of the development team in its Toronto headquarters, and to support the growth of satellite offices in New York and London. The company was founded in 2013.