Private Equity
Vistara Capital Partners held the second close of its third technology debt fund, bringing the total raised to more than $100 million (US$75 million). Vistara Technology Growth Fund III, launched last October with a target of $130 million, is expected to reach its goal later this year, Managing Partner Randy Garg and Partner Noah Shipman told PE Hub Canada. The second close was anchored by two new institutions: the investment program of federal agency Export Development Canada and Nicola Wealth, a Canadian wealth management firm. Fund III will maintain Vistara’s strategy of providing flexible debt and equity financing for North American mid- to late-stage companies looking to fuel growth without diluting ownership.
3 min read · 29 July 2019
3 min read · 26 July 2019
ProteinQure, a Toronto-based software platform for computational protein drug discovery, has raised about $5.2 million (US$4 million) in a seed-stage financing. U.S. venture capital firm Felicis Ventures led the round. It was joined by 8VC, Golden Ventures, Inovia Capital, Global Founders Capital and angel investor Tom Williams. Launched two years ago by CEO Lucas Siow, CTO Tomas Babej, Head of R&D Mark Fingerhuth and CSO Chris Ing, ProteinQure uses molecular simulations, machine learning and quantum computing to solve drug design challenges and deliver new protein-based therapeutics. The company will use the funds raised for new hires and to expand industry partnerships.
3 min read · 26 July 2019
Conexus Credit Union has launched a $30 million venture capital fund intended to invest in Saskatchewan's startup ecosystem. Conexus Venture Capital Fund has so far raised $22.5 million, of which $15 million came from Conexus, a Regina-based credit union, and $7.5 million from external investors. Managed by Conexus, the fund will invest in Saskatchewan-based companies in partnership with other venture capital firms and investors. Opportunities will be sourced in part through Cultivator, a Conexus-sponsored incubator located in Regina. The fund is led by Conexus Venture Capital Fund Manager Sean O’Connor. It has already finalized two deals and is expected to execute on others in the months ahead.
4 min read · 25 July 2019
Toronto-based philanthropic fundraising platform Wisely has raised $1.5 million in a seed-stage financing, bringing its total funding so far to $2.1 million. The round was led by Canadian early-stage venture capital firm Ripple Ventures, with participation from Verstra Ventures and Maple Leaf Angels. Founded in 2017 by CEO Artiom Komarov, CTO Ryan Henry and COO Wes Moon, Wisely provides artificial intelligence-enabled technology to help charities, foundations, educational institutions and non-profit organizations more effectively pursue donations. The round's proceeds will be used by Wisely to expand its operations in the North American market.
2 min read · 25 July 2019
Rimot, a Dartmouth, Nova Scotia-based remote infrastructure monitoring company, has raised $1.2 million in financing. Canadian early-stage venture capital firm Innovacorp invested $500,000, with the rest coming from angel investors. Founded in 2016, Rimot offers turnkey remote monitoring and analytics to help business and government organizations ensure the reliability of critical equipment in the field and minimize downtime, maintenance costs and risk. Led by CEO Andrew Boswell, Rimot will use the round's proceeds to accelerate its growth in Canada and the United States.
2 min read · 25 July 2019
Luci.ai, a Toronto-based artificial intelligence (AI) technology startup founded this year, has raised $500,000 in a seed-stage financing. The round's investors were not disclosed. Luci.ai also announced the launch of its AI dispatch and scheduling-as-a-service platform, LuciX, which helps businesses make deliveries and manage appointments. The technology is targeted to food delivery, groceries and retail, parcel and courier, retail and delivery, third-party logistics, home services, field service, warehouse management and other sectors. Luci.ai's founding team includes scientists, engineers and industry experts from Amazon, Alibaba, DHL and Canadian Tire.
3 min read · 24 July 2019
Ratio.City, a Toronto-based urban analytics platform, has raised $1 million in a seed-stage financing. U.S. early-stage venture capital firm 2048 Ventures led the round. Also investing were Riocan Real Estate Investment Trust, Tercot Developments, Rockport Capital, Smycorp Capital and Guloien Capital. Founded in 2017 by CEO Monika Jaroszonek and CTO Erin Morrow, Ratio.City provides cloud-based mapping and analysis tools to help developers and planners access data, evaluate options and make better decisions about real estate opportunities. The round's proceeds will be used to grow Ratio.City's sales team and enhance the platform by bringing on more data points and geographical locations.
3 min read · 23 July 2019
Toronto-based sports team funding app FlipGive has secured $5 million in a Series A financing. The round was led by Canadian software venture capital firm Framework Venture Partners. Framework's investment is the first of its $150 million debut fund, FVP I, which held an initial close earlier this year. It was joined by iGan Partners, which invested in 2013, and FJ Labs. Launched in 2016, FlipGive provides a digital platform that helps North American youth sports teams, member organizations and clubs raise funds through everyday shopping with favourite brands. The company will use the round's proceeds for new hires, enhanced product features, additional brand partners, marketing and member acquisition.
4 min read · 23 July 2019
