Private Equity
The Fonds de solidarité FTQ said it has invested $640 million over 2014-2015, putting it on track to reach a $1.6 billion target for the period 2014-2017. The Montréal-based private equity and venture capital firm invests directly in companies and commits capital to private funds. It was named the most active private equity deal maker in Canada in the first nine months of 2015 in the third quarter report of the Canadian Venture Capital & Private Equity Association (CVCA). Both the Fonds de solidarité FTQ and Fondaction CSN have applauded the new federal government's commitment to reinstate tax credits for labour-sponsored funds.
3 min read · 20 November 2015
Oversee.net founder Lawrence Ng has launched OnRamp Fund, a $10 million incubator that will back early-stage startups. Among those serving as advisors to OnRamp Fund are: Legalzoom Chairman and co-founder Brian Liu; Jamie Lin, founding partner of Taiwan-based AppWorks; Eytan Elbaz, chairman of Opposing Views and co-creator of Adsense; Scott Jarus, CEO of EV Connect; and Gene Morphis, former CFO of David’s Bridal.
3 min read · 18 November 2015
XPNDCroissance Fund, the second fund of Canadian growth equity firm XPND Capital, has increased its size to $52 million following an investment by the Caisse de dépôt et placement du Québec. The Caisse committed $15 million to the fund, which adds to a $10 million commitment made last month by Investissement Québec. XPNDCroissance Fund plans to invest in Québec companies active in sustainable transportation, innovative industries, and technology, media and entertainment. It is expected to reach $70 million in committed capital by the end of 2015.
3 min read · 18 November 2015
Venture firm Andreessen Horowitz put itself on the map with software investing. Now, it plans to take its software-heavy approach to biology and medicine, with a new $200 million fund for the hybrid sector and a former Stanford professor to run it, Reuters News reported.
2 min read · 18 November 2015
Fundraising recaps from the past month regarding Formation 8, 500 Startups, Partech and other firms from around the world
10 min read · 18 November 2015
4 min read · 18 November 2015
Three investing partners at Formation 8 have filed to raise a new fund, Eight Partners Fund I, according to a filing with the SEC. No target size for the fund was listed.
1 min read · 17 November 2015
More emerging managers than ever seem to be raising venture funds. So how do you stand out in a crowded fundraising market where re-upping is often the default LP option?
1 min read · 17 November 2015
The Business Development Bank of Canada (BDC) has earmarked $500 million in additional financing for Canadian small and medium-sized businesses impacted by the decline in oil prices. It will also offer advisory services to enterprises that are looking to adjust operations in response to the economic downturn. BDC said the focus of its strategy will be to help companies with projects aimed at diversifying their business, increasing operational and environmental efficiency, improving financial management, and purchasing new technology and equipment.
2 min read · 17 November 2015
White Star Capital, a venture capital firm with offices in London, New York and Montréal, has secured US$70 million for its first institutional fund. BDC Capital was the anchor investor in the fund. Founded by Canadian-born Managing Partner Eric Martineau-Fortin, White Star is focused on deploying between $500,000 and $5 million to initial investments in early-stage technology companies in North America and Western Europe. Among its recent deals, the firm in May led a $6 million Series A financing of mnubo, an Internet-of-Things data analytics company based in Montréal. Canadian venture capital firm McRock Capital also invested in the round.
3 min read · 16 November 2015
