WestCap related stories
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Bolt lands $50m Series CBolt, a checkout experience platform, has raised $50 million in Series C funding.
- Hospitality brand Sonder pockets $170m Series E
Sonder, a San Francisco- and Montreal-based hospitality brand, has closed US$170 million in Series E financing, according to a blog post.
iCapital Network snags $146mNew York-based iCapital Network, an alternative investment marketplace, has secured $146 million in funding.
- Addepar fetches $40m
Addepar, a wealth management platform, has raised $40 million in funding.
Real estate tech firm Blueground reels in $50 mlnBlueground, a real estate tech company, has secured $50 million in Series B funding. WestCap Investment Partners and Prime Ventures led the round.
Sonder to open second HQ in Canada with close of $275 mln Series DMontréal-born hospitality brand Sonder has raised about $275 million (US$210 million) in a Series D financing led by Valor Equity, Westcap and Nicolas Pritzker, all new investors. The round values the business at more than US$1 billion, according to a news release. Other first-time backers of the deal include Canada’s Inovia Capital, which earlier this year raised US$600 million https://www.pehub.com/canada/2019/02/inovia-capital-raises-800-mln-for-full-stack-strategy-opens-london-office/ for new venture and growth-equity funds. Founded in 2012 by CEO Francis Davidson and COO Lucas Pellan, Sonder has its headquarters in San Francisco, relocating from Montréal in 2017. As part of the Series D, the company said it will open a second global HQ in Canada.
Golden Opportunities Fund invests $8 mln in Cova SoftwareCova Software, a Denver, Colorado-based cannabis retail software platform, has raised US$8 million in an initial financing. The investor was Golden Opportunities Fund, a retail fund managed by Canadian private equity and venture capital firm Westcap Management. Cova provides point-of-sale solutions to cannabis retailers, including automated compliance, inventory management, reporting dashboards and a checkout app. It will use the funds raised for product development and to expand its North American footprint. Founded in 2016, Cova has its Canadian headquarters in Vancouver along with offices in Regina and Winnipeg.
SEB closes $3 mln deal with Golden Opportunities FundSmart Employee Benefits Inc (TSX-V: SEB) has closed a private placement offering, generating $3 million in gross proceeds. The investor was Golden Opportunities Fund, a retail venture capital fund managed by Westcap Management. Founded in 2011, Mississauga, Ontario-based SEB specializes in cloud software-as-a-service solutions for managing the benefit plans of employers and governments. The company said the deal strengthens its balance sheet and working capital and will support business development initiatives in Saskatchewan and Manitoba, where Golden invests.
H.J.R. Asphalt completes $26.3 mln MBO with Golden OpportunitiesH.J.R. Asphalt LP, a Saskatoon-based highway infrastructure company, has completed a $26.3 million management buyout in partnership with Golden Opportunities Fund, an affiliate of Canadian private equity firm Westcap Management. The transaction saw Golden Opportunities invest $10.5 million in syndication with another Westcap fund /canada/2015/05/15/westcap-raises-57-mln-for-new-management-buyout-fund/ Westcap MBO Investment LP, to secure majority ownership of H.J.R. Asphalt alongside key executives. The company said Westcap's investment brings financial, strategic and operational support to its role as a solutions provider in Saskatchewan's road construction industry. Last November, Westcap invested in /canada/2015/11/19/two-westcap-funds-invest-25-mln-in-dynaventure-buyout/ DynaVenture Corp's buyout.
Two Westcap funds invest $25 mln in DynaVenture buyoutFunds managed by Canadian private equity firm Westcap Management have invested in a management buyout that acquired affiliates of DynaVenture Corp. Golden Opportunities Fund and Westcap MBO Investment LP /canada/2015/05/15/westcap-raises-57-mln-for-new-management-buyout-fund/ partnered in a $25 million investment in the deal. Saskatoon-based DynaVenture comprises four distinct businesses: machining and fabrication specialist DynaIndustrial; Tackpoint, a maker of anti-friction bearing solutions; crane services provider Dyna Crane Services; and Fluid Clarification, a separation technologies and filtration systems supplier. DynaVenture said the Westcap partnership will help it execute growth plans at home and in global markets.