Private Equity
Calligo has acquired Connected Technologies Inc, a Brampton, Ontario-based outsourced information technology and cloud services company. No financial terms were disclosed. The acquisition follows Calligo's 2017-2018 purchases of Toronto-based 3 Peaks and Mico Systems. Calligo, a Jersey, U.K.-based optimization and privacy specialist, said the combined acquisitions have made it one of the largest providers of cloud and managed services serving the Toronto region. Founded in 2011, Calligo raised US$20 million in 2016 from Bahrain investor Investcorp. It has also secured financing from U.K. venture capital firm Ti23.
4 min read · 01 April 2019
AudioConexus, a Kingston, Ontario-based tourism technology company, has raised undisclosed mezzanine financing from BDC Capital. BDC invested through its Growth and Transition Capital group. Founded in 2006, AudioConexus produces software, hardware and multilingual content for automated GPS tours and audio guides. More than 30 million people each year listen to the company's audio tours. Led by President and CEO Jonathan Stanley, AudioConexus will use the proceeds for working capital, building inventory for its new multimedia tour system Navilution, expanding in Europe, and adding to the management team.
2 min read · 01 April 2019
Any time a startup is reticent or delayed in providing critical information to investors or prospective acquirers, the perception of that company may be diminished. Losing momentum during this period can have a real impact on closing the deal; luckily, this can be avoided and preparedness can be accomplished with a little forethought and consistency, writes Scott Munro, a venture partner at Inovia Capital. In a PE Hub Canada feature, Munro provides some best practices that allow an organization, at any point in time, to be prepared for and exhibit high quality expertise to any externally interested party, be it an investor or potential buyer.
5 min read · 01 April 2019
Jim Keohane, president and CEO of Healthcare of Ontario Pension Plan (HOOPP), said he will be retiring in March of 2020. Keohane joined HOOPP in 1999 as manager, equity trading, and became CEO in 2012. He will continue to lead the Canadian pension fund as it searches for a successor. HOOPP said it doubled in size, growing to $79 billion in net assets, during Keohane's tenure as CEO. Toronto-based HOOPP is the retirement plan for Ontario’s hospital and community-based healthcare sector. It invests in private equity through HOOPP Capital Partners.
3 min read · 28 March 2019
Green Tank Technologies, a Toronto-based maker of cannabis vaporization hardware, has raised $14 million in a Series A financing. The round was backed by existing investors, including Green Acre Capital, which co-led Green Tank's $4.3 million seed financing in 2018. New investors included Newstrike Brands, a Toronto-based cannabis company backed by Canadian band the Tragically Hip. Founded in 2016, Green Tank reports annual revenue growth of nearly 300 percent last year. It is now working with more than 130 global brands and has partnered with over a dozen local producers. Green Tank will use the funds raised for scaling operations, product innovation and new hires.
3 min read · 28 March 2019
Anges Québec and other private investors earlier this month invested an undisclosed amount in LifeStyle, a Montréal-based provider of turnkey collaborative spaces. Founded in 2018 by Alexis Labrecque and Philippe Gauthier, LifeStyle builds and operates co-working spaces designed for professionals in the hairdressing, esthetics and well-being sectors. The startup plans to inaugurate its first coworking space this month in Montréal's Côte-des-Neiges-Notre-Dame-de-Grâce. Anges Québec supports a network of more than 230 Québec-based angel investors.
3 min read · 27 March 2019
Canadian water-focused growth equity firm XPV Water Partners has invested in Holland Pump Co, a West Palm Beach, Florida-based specialty pump rental and dewatering solutions provider. No financial terms were disclosed. Established in 1978, Holland Pump makes, sells, rents and services pumps and other equipment for infrastructure project dewatering, sewer by-pass, as well as agricultural, mining, marine and other industrial applications in the United States. XPV Principal Sam Saintonge said his firm will help Holland Pump accelerate its growth.
3 min read · 27 March 2019
Maple Leaf Angels (MLA) and Maple Leaf Angels Capital Corp have launched their third angel investment fund, MLA48 Fund III. The fund will be open to members of MLA, a Toronto-based angel organization that invests in early-stage technology companies. Like prior funds, it will focus on making decisions about investments within 48 hours of a startup's pitch. MLA48 Fund III will consider investing up to $150,000 in companies, with up to $300,000 available for follow-on investment. MLA members have invested more than $30 million in 55 companies in Canada since the organization's inception in 2007. Funds are overseen by Managing Director Prathna Ramesh.
2 min read · 27 March 2019
Global Spatial Technology Solutions (GSTS), a Dartmouth, Nova Scotia-based developer of digital solutions for the marine industry, has raised $2 million in a seed-stage financing. The round was backed by Canadian venture capital firms Innovacorp and Ecofuel as well as other private investors. Founded in 2005 and led by CEO Richard Kolacz, GSTS creates data management and analysis solutions that use satellite data for route optimization and risk management in the maritime shipping industry. The financing's proceeds will be used by the company to further develop its analytics, logistics and surveillance platform.
3 min read · 27 March 2019
Canadian consumer venture capital firm District Ventures Capital has invested in OHi Food Co, a Costa Mesa, California-based natural food provider. The investment's value was not disclosed. Founded in 2013 by Dawn Anderson, OHi Food makes five varieties of refrigerated plant-based snack bars. The proceeds of the deal will support the company's growth through marketing support, development and commercialization services.
3 min read · 26 March 2019
