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Ottawa commits $300 mln to VC funding of Canadian digital companiesThe federal government has unveiled http://www.ic.gc.ca/eic/site/064.nsf/eng/h_00047.html?OpenDocument a comprehensive new strategy called Digital Canada 150 aimed at allowing Canadians to take full advantage of digital opportunities. As part of the strategy, Industry Canada will through the Business Development Bank of Canada (BDC) provide $300 million in venture capital funding for digital companies. An additional $200 million has been earmarked to support small and medium-sized businesses with their adoption of digital technologies.
PHEMI Health Systems nets $2.8 mln in seed funding from BDC, YaletownPHEMI Health Systems said Monday that it has closed a $2.8 million seed-stage financing round. The investors included Canadian venture capital firms BDC Venture Capital and Yaletown Venture Partners, as well as a number of strategic angel investors. Headquartered in Vancouver, British Columbia, PHEMI Health Systems is a big data platform company that provides solutions that improve clinic productivity, patient outcomes and medical research. Update: Proceeds of the investment will facilitate the company's commercialization of its patient care management platform PHEMI Central.
BDC study emphasizes value to SMEs of under-utilized advisory boardsA new study from the Business Development Bank of Canada (BDC) has found that advisory boards have a major impact on the financial performance of small and medium-sized enterprises (SMEs). For example, from 2001 to 2011, average annual sales of businesses with an advisory board were 24% higher than those of a control group of other businesses, while productivity was 18% higher. However, the study also found that only 6% of Canadian SMEs currently use an advisory board. When forming an advisory board, entrepreneurs were found to typically seek expertise in accounting and finance, sales and marketing, and human resources.
- BDC study emphasizes value to SMEs of under-utilized advisory boards
A new study from the Business Development Bank of Canada (BDC) has found that advisory boards have a major impact on the financial performance of small and medium-sized enterprises (SMEs). For example, from 2001 to 2011, average annual sales of businesses with an advisory board were 24% higher than those of a control group of other businesses, while productivity was 18% higher. However, the study also found that only 6% of Canadian SMEs currently use an advisory board. When forming an advisory board, entrepreneurs were found to typically seek expertise in accounting and finance, sales and marketing, and human resources.
Investeco, Community Forward Fund among SVX issuers to raise $650kMembers of the first cohort /canada/2013/09/27/twelve-impact-ventures-hit-crowdfunding-market-svx/ of issuers on crowdfunding platform SVX have raised $650,000 in commitments and investments since the launch of the platform on the Toronto Stock Exchange in September 2013. Among the successful issuers were Community Forward Fund, an arranger of financing for non-profits and charities, and Investeco, an environmental investment fund. Designed to facilitate financing for Ontario early-stage companies, non-profits and other ventures that aim to solve social and environmental challenges, SVX is sponsored by Canadian innovation hub MaRS Discovery District. It was profiled /canada/2013/07/29/svx-is-canada-ready-crowdfunding/ by peHUB Canada in July 2013.
BDC, MaRS partner to support, finance Canadian social purpose enterprisesThe Business Development Bank of Canada (BDC) is partnering with MaRS Discovery District's Centre for Impact Investing on an initiative to support Canadian entrepreneurs who are building social purpose businesses, and to strengthen the Canadian impact investing market. The initiative will see BDC support entrepreneurs in MaRS' Impact8 program, a social venture boot camp that aims to help social enterprises reach investment readiness and to provide financing for enterprises that are deemed investment-ready. BDC also will co-host four MaRS Impact Venture Fairs in major Canadian cities.
Identity verification platform Trulioo nets $6 mln in Series A roundIdentity verification platform Trulioo Inc has received US$6 million in a Series A financing round. The deal was led by U.S.-based Tenfore Holdings, with the participation of Canadian investor BDC Venture Capital and Blumberg Capital. Tenfore's Dan Levine has joined the company's board of directors. The latest round, which will be used to accelerate growth into developing and emerging markets where traditional identity verification products are largely unavailable, brings Trulioo's total funding so far to over US$8.3 million. The Vancouver-based startup recently announced that it had surpassed 100 million cyber identities scored, mostly in North America and Europe.
- Trulioo snags $6 mln Series A funds
Trulioo has closed $6 million in a Series A financing. Tenfore Holdings led the round with participation from BDC Venture Capital and Blumberg Capital. Based in Vancouver, British Columbia, Trulioo is a provider of identity verification solutions.
BDC, RBC invest $6 mln in data security specialist PythianPythian, a provider of data management consulting and services, has secured $6 million in new funding. The investors included the Business Development Bank of Canada (BDC) and Royal Bank of Canada (RBC). Proceeds of the investment will be used to expand the market reach of the company's leading product offering, Adminiscope, a data security solution that is focused on helping global retailers eliminate data security breaches. Founded in 1997, Pythian has it headquarters in Ottawa.
BDC, HSBC provide credit facilities to leveraged recap of World Oil ToolsWorld Oil Tools Inc, a Calgary-based manufacturer of downhole equipment and tools to the oil and gas industry, has completed a leveraged recapitalization with the advice of Marcum Cronus Partners LLC. The undisclosed transaction occurred through credit facilities provided by HSBC Bank Canada and the Business Development Bank of Canada (BDC). The U.S.-based Marcum Cronus Partners is an investment banking firm that provides financial advisory and related services.