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QuickMobile Raises $3.2M from BDC and VancityVancouver-based QuickMobile Inc. has completed a $3.2 million round of financing led by existing investors BDC IT Venture Fund and Vancity Capital Corp. Since late 2011, the company has raised $9.1 million in total from venture capital firms and angel investors. QuickMobile, which has developed a multi-event mobile app platform, will use the investment proceeds to meet customer demand and continue its international expansion.
BDC Venture Capital Seeds viDA TherapeuticsVancouver-based viDA Therapeutics Inc., a company focused on development and commercialization of novel and targeted therapeutics for the treatment of inflammatory and age related diseases, has obtained additional seed-stage funding totaling $750,000 from BDC Venture Capital. The new tranche brings the company's total venture capital financing to date to $3.7 million. Proceeds of the investment will allow viDA to enter the next phases of its research and development.
BDC Workplace One of the Best for Employees Aged 40+The Business Development Bank of Canada (BDC) has been recognized by the editors of Canada's Top 100 Employers competition as one of Canada's best workplaces for Canadians over 40 years of age. With headquarters in Montréal, BDC manages two private equity funds: BDC Venture Capital and BDC Subordinate Financing.
- VendAsta Technologies Inks $8.25M
VendAsta Technologies, a Canadian provider of white label digital brand management technology, has raised $8.25 million from Vanedge Capital and BDC Venture Capital. The money will be used for development. VendAsta is based in Saskatchewan, Canada.
- Ray Muzyka Joins iNovia as Venture Advisor
Dr. Ray Muzyka, co-founder of the private equity-backed electronic entertainment company BioWare Corp., which was sold to Electronic Arts Inc. in 2007, has become a Venture Advisor to Canadian venture capital firm iNovia Capital. Mr. Muzyka, who has co-invested with iNovia, and invested in the firm's latest partnership, iNovia Fund III, recently advanced his entrepreneurial mentoring and investment activity through Threshold Impact Ltd., a company he established in 2013.
- Bain Capital Ventures Leads $10M C-Round in BTI Systems
BTI Systems Inc., an Ottawa-based networking systems and software company, secured US$10 million in new growth funding. The deal was led by existing investor Bain Capital Ventures, with the participation of BDC Venture Capital, Covington Funds and GrowthWorks. BTI, which has raised more than US$33 million from venture capital firms since the first quarter of 2011, also announced the expansion of the company's presence with a new office in Palo Alto, California.
- VC-Backed N4 Systems Acquired by Master Lock
N4 Systems Inc., a Toronto-based company responsible for the safety management software product Field ID, has been acquired by Master Lock Canada Inc., a wholly-owned subsidiary of Master Lock Company LLC. The financial terms of the transaction were not released. Founded in 2006, N4 Systems received equity and debt financing from the Business Development Bank of Canada over 2011 and 2012. The company's venture capital financing in the latter year was also backed by IntelliVest Angel Group and other investors.
- Version One Ventures Closes First Fund at $19M
Canadian venture capital firm Version One Ventures has closed its first micro-fund, raising C$19 million, or about 25% more than the partnership's target. The fund's backers include BDC Venture Capital, former Yahoo President Jeff Mallett and a number of North American entrepreneurs and high-net worth individuals. Founded in 2012, Version One, which invests up to $500,000 in seed and Series A financings of Internet, e-commerce, SaaS and mobile companies, has done close to a dozen deals so far, including recently announced financings of GroupTalent Inc. and Jobber Inc.
VC-Backed Trillium to merge with Stem Cell TherapeuticsToronto-based Trillium Therapeutics Inc., which specializes in immunotherapy and cancer stem cell research, is merging with Stem Cell Therapeutics Corp., also a Toronto-based life sciences company. Under the terms of the deal, which will be closed in the first quarter of 2013, Trillium's security holders will receive C$1.2 million in cash and C$1.65 million in common shares in the new enterprise. Trillium has been backed by a number of Canadian venture capital firms since 1997.
- Canadian government doubles down on VC
The federal government’s recent C$500m capital injection into the country’s venture industry follows a two-year lull in fundraising for Canadian venture capital.