Private Equity
According to Xconomy, Biomark Capital has spun off from Burill Capital Fund IV. The new venture firm has offices in Greenwich, Conn., Moscow and San Francisco. The site reported that Biomark Capital will continue to run Burrill Capital fourth fund's existing portfolio and is seeking to raise additional financing by the end of the year. Biomark investment team is made up of David Wetherell, Douglas Lind, Bryant Fong, Joshua Zelig, Sergey Axenovich, and Janos Redei as an entrepreneur-in-residence. Burrill Capital's fourth fund has raised $200 million.
1 min read · 04 December 2013
The Wall Street Journal reported on Wednesday that Hoxton Ventures has raised $40 million for a new fund aimed at early-stage companies in Europe. Based in London, Hoxton Ventures is an early-stage VC firm.
1 min read · 04 December 2013
GrowthWorks Canadian Fund has received a letter from legal counsel to GrowthWorks WV Management Ltd, the former manager of the retail venture capital fund, concerning the termination of the management agreement, which was announced in September. The fund's former manager asserts that the termination was without cause, and that it is entitled to damages. GrowthWorks Canadian Fund was recently provided legal authorization to pursue a sale and investor solicitation process.
3 min read · 03 December 2013
After three consecutive months of growth, fundraising activity drops in October
2 min read · 01 December 2013
According to the LBO Wire, San Francisco-based VC firm FTV Capital has raised $365.9 million for its fourth fund. The target is $500 million.
1 min read · 29 November 2013
Toronto-based commercialization hub MaRS Discovery District has launched a one-year pilot program to provide new apps to help manage energy consumption data in Ontario households and other venues. Apps from Energent, BuiltSpace, Eyedro and Zerofootprint will be made available to consumers serviced by Hydro One and London Hydro. The initiative is part of the Green Button Standard program, which is being promoted by MaRS Data Catalyst and the Ontario Ministry of Energy in partnership with private industry.
4 min read · 29 November 2013
OMERS Ventures, the venture capital investment arm of the Ontario Municipal Employees Retirement System, has made a strategic investment in OneEleven, an accelerator focused on the needs of entrepreneurs launching big data-related technology start-ups in the Toronto-Waterloo corridor. OMERS partnered with Ontario Centres of Excellence and Ryerson University in co-founding OneEleven, which will provide opportunities for entrepreneurs with proven track records to be part of a peer community that also includes venture capitalists, industry leaders, academics and public policy-makers.
5 min read · 27 November 2013
Yvon Bolduc, president and CEO of the Fonds de solidarité des travailleurs du Québec FTQ, this week presented a $2 billion proposal to the House of Commons Standing Committee on Finance intended to retain the federal tax credit for labour-sponsored venture capital funds, which is scheduled for phase-out by 2017. The proposal would see Québec labour funds commit $950 million to private Québec-based and Canadian venture capital funds, and make $1.05 billion in direct investments in innovative companies. The proposal would also decrease the federal cost of the tax credit program by a third, or approximately $300 million over 10 years.
3 min read · 27 November 2013
New York and Philadelphia-based VC firm INE Ventures said Wednesday that it has launched its first fund. No financial terms were disclosed. According to INE Ventures, the pool will provide seed funding to Israeli tech startups with the aim of helping them enter the U.S. market and become multinational companies.
4 min read · 27 November 2013
Fund of funds Cendana Capital II seeks $30 million; direct investment fund seeks $25 million.
1 min read · 26 November 2013
