Private Equity
VTS, a New York-based leasing and asset management platform for the global commercial real estate industry, has raised US$90 million in a Series D financing. The round was led by Brookfield Ventures, the technology investment arm of Canadian alternative asset manager Brookfield Asset Management. Brookfield is a VTS customer. Other investors included Fifth Wall, GLP and Tishman Speyer. VTS' software platform oversees more than 10 billion square feet of commercial real estate and has a user base of over 35,000. It will use the round's proceeds to enhance its technology and launch truva, an end-to-end leasing marketplace.
4 min read · 07 May 2019
Canadian women-focused venture capital firm Disruption Ventures has agreed to partner with The Big Push to provide women-led technology startups with access to expert resources and early-stage financing. The initiative will see Disruption invest $500,000 to $2 million in seed-stage or Series A financings of startups working with The Big Push, a Canadian accelerator focused on female entrepreneurs. Based in Toronto, The Big Push is led by senior executives who help prepare women founders for investment through a service-for-equity model. As reported by PE Hub Canada, Disruption recently closed its debut deal, investing in vacation-rentals software provider Hostfully.
4 min read · 07 May 2019
OSF Commerce, a Québec City-based retail consultant and commerce technology integrator, has raised about $31 million (US$23 million) in financing. The round was led by Delta-v Capital, a U.S. technology growth equity firm, with participation from Salesforce Ventures, the venture capital arm of U.S. software company Salesforce.com Inc. Founded in 2003, OSF Commerce, a Salesforce partner, provides technology, consulting, implementation and online shop management services to emerging and established brands and merchants. Led by CEO Gerry Szatvanyi, the company will use the funds raised to advance global growth by hiring talent, investing in artificial intelligence technology and making acquisitions.
4 min read · 07 May 2019
Radical Ventures, a Canadian venture capital firm focused on artificial intelligence (AI), has launched a new fund with a target of about $470 million (US$350 million). The fund's cornerstone limited partners include Canada Pension Plan Investment Board (CPPIB), Public Sector Pension Investment Board (PSP Investments), TD Bank Group and Wittington Investments Ltd. Radical was founded in 2017 by Jordan Jacobs, Tomi Poutanen, Benji Sucher and Maks Volkovs, previously executives with Toronto-based AI startup Layer 6, acquired in 2018 by TD. Radical's new fund will make early-stage and growth investments in mostly Canadian companies developing AI products or applying AI to create a competitive advantage in large markets.
3 min read · 07 May 2019
Co-investment transactions have become a staple of today’s private equity landscape. A strong private equity market has helped fuel co-investment activity as co-investors look to increase their exposure on a reduced-fee basis and sponsors look to attract additional capital to access larger deals. In a PE Hub Canada feature article, Torys LLP Partners Guy Berman and Stefan Stauder, Counsel Jamie Becker and Senior Associate Sophie Courtois discuss the latest trends in the co-investment market with a focus on fee terms, dedicated co-investment vehicles, co-investment timing and stapling.
6 min read · 07 May 2019
It’s tough to find capital to execute on ambitious plans to grow, acquire or turn things around in Canada, particularly if you’re looking for $1 million to $20 million in financing. Entrepreneurs have experienced this predicament for years, and while the situation has improved recently, financing sources remain largely few and lacking flexibility. In a PE Hub Canada feature article, Trevor Simpson, director, private capital, at FirePower Capital, argues that private debt should be part of an entrepreneur’s arsenal of financing options when seeking out growth (or other) capital because it addresses the shortcomings of the alternatives, namely traditional bank debt and venture capital.
5 min read · 06 May 2019
Venture capital (VC) investment in Canadian technology companies sustained a rapid pace in Q1 2019, with $1.4 billion deployed, marking the most active first quarter in dollar terms in nearly two decades, according to final data released by Refinitiv. The strong dollar flows went to fewer financing rounds, with 120 deals done between January and March, down 10 percent from the same time in 2018. Late-stage companies accounted for 35 percent of total rounds in Q1 2019, the largest share ever recorded. Information technology sectors remained the main recipient of VC investing in the first quarter, securing $821 million.
4 min read · 02 May 2019
Toronto-based property technology company ParityGo Inc has secured $5 million in a Series A financing. The round was led by Canadian clean technology venture capital firm ArcTern Ventures. Parity has developed an energy management system that controls existing heating, ventilation and air conditioning equipment using cloud-based artificial intelligence. The system enables energy savings for condos and other multi-residential buildings. Founded in 2015 by CEO Brad Pilgrim and COO Brian MacLeod, Parity will use the funds raised to expand into the U.S. market. Parity is the first deal of ArcTern Ventures Fund II, which last October raised an initial $60 million.
4 min read · 02 May 2019
Locketgo, a Montréal-based provider of temporary storage solutions, has raised $1.2 million in a seed-stage financing. The round's Canadian investors included Anges Québec, CH Group, Maple Leaf Angels, Real Ventures and Jeffrey Kadanoff. Founded in 2016 by CEO Gabrielle La Rue, Locketgo offers a turnkey rental service of secure, intelligent lockers for events, such as concerts, conventions and festivals, as well as permanent installations. The startup, a graduate of accelerators Centech and FounderFuel, will use the round's proceeds to expand across the North American market, grow its team and continue research and development.
2 min read · 02 May 2019
Webware.io, a Toronto-based digital toolkit for small businesses, has raised $2 million in financing from a group of investors. The group was led by Moss Kadey, a Canadian entrepreneur and CEO of Mossco Capital. Other investors included the founders of Gluskin Sheff + Associates Inc, a Toronto-based wealth manager that earlier this year agreed to be acquired by Onex Corp. Founded in 2015 by CEO Cory York and CTO Indrajit Chowdhury, Webware.io helps small businesses develop a digital presence, from building websites and online stores to SEO marketing services and creating loyalty programs. The funds raised will be used to support the company's growth.
3 min read · 02 May 2019
