Private Equity
Montreal-based fund manager Teralys Capital has raised $279 million in the first close of its new fund of funds created under the Canadian government's Venture Capital Action Plan. The Teralys Capital Innovation Fund focuses on information technologies, life sciences, and clean or industrial innovations.
2 min read · 11 November 2014
German telecom firm Deutsche Telekom is planning on launching in early 2015 a fund targeting 500 million euros (about $621 million).
1 min read · 11 November 2014
The Canadian Venture Capital and Private Equity Association (CVCA) has welcomed the launch of Teralys Capital Innovation Fund, which was initially closed this week at $279 million. The CVCA noted that the fund is the second established under the federal Venture Capital Action Plan, with $186 million in commitments coming from corporate and institutional investors, and $46.5 million coming each from Ottawa and the Québec government. The fund is managed by Montréal-based fund-of-funds manager Teralys Capital.
2 min read · 11 November 2014
Canadian fund-of-funds manager Teralys Capital has initially closed the Teralys Capital Innovation Fund at $279 million. The new fund, the second market-based investment vehicle to be backed by Ottawa’s $400 million Venture Capital Action Plan (VCAP), has also received commitments from Fondaction CSN, the National Bank of Canada, Desjardins Group, Knight Therapeutics Inc and OpenText Corp. Teralys, which has since 2009 been backed by the Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ and Investissement Québec, was flagged in a June report by peHUB Canada as the likely manager of a new venture capital partnership between the Québec and federal governments. The new fund will make commitments to investor groups focused on a wide range of emerging technology sectors.
3 min read · 10 November 2014
Versant Ventures' latest fund has added Bayer HealthCare as an LP. Bayer will invest up to $25 million in Versant Venture Capital V. The fund will back the development of new therapies "in areas of high unmet medical need." In addition to investing in the fund, Bayer will join its advisory board.
3 min read · 04 November 2014
The government of Newfoundland and Labrador has unveiled its previously announced Venture Newfoundland and Labrador, a fund that will invest in local entrepreneurs and startups. The fund, which will be managed by GrowthWorks Atlantic, will be capitalized at around $15 million, with $10 million provided by the government, $2 million provided by BDC Capital, and a further commitment expected from private investors. The government said a 30 percent tax credit will be made available to encourage private investors to partner in the fund.The government also confirmed its $10 million commitment to Build Ventures, a venture capital firm established in May 2013 to invest in startups located in Atlantic Canada.
5 min read · 04 November 2014
The Business Development Bank of Canada (BDC) has once again been recognized by Mediacorp Canada Inc as one of Canada's Top 100 Employers. This is the ninth consecutive year in which BDC has been recognized in Mediacorp's annual national competition. The Montréal-based BDC offers loans, consulting services, growth and business transition capital, securitization, and venture capital to more than 30,000 small and medium-sized companies in Canada.
2 min read · 04 November 2014
Mérieux Développement, the private equity investment arm of Institut Mérieux, has launched a new vehicle with a total commitment of €150 million ($212 million) to invest in healthcare and nutrition sectors. As part of a partnership agreement, Sienna Capital, an affiliate of Belgium's Groupe Bruxelles Lambert (GBL), has committed €75 million ($106 million) to Mérieux, most of which will be dedicated to the new vehicle. GBL is controlled in part by Canada's Desmarais family. Mérieux Développement is based in Lyon, France.
3 min read · 04 November 2014
Venture capital fund performance pulled backed in the second quarter, with late- and expansion-stage returns falling the farthest.
1 min read · 04 November 2014
CalSTRS sees gains from OrbiMed, Sofinnova, Shasta, GGV
2 min read · 04 November 2014
