Private Equity
Breathe Life, a Montréal-based provider of consumer-focused solutions for the insurance industry, has raised $4.5 million in a seed-stage financing. The round was led by Diagram Ventures and joined by Real Ventures, both Canadian venture capital firms. The company is also backed by angel investors. Founded in 2017, Breathe Life provides life and health insurance carriers, distribution organizations and advisors with white-label solutions to find, convert and retain customers. Led by CEO Ian Jeffrey, formerly a Real venture partner and co-founder of FounderFuel, Breathe Life will use the round's proceeds to accelerate product development and fuel growth in North America.
5 min read · 26 February 2019
Scott Munro, a venture partner at Inovia Capital, has acquired battle scars as an investment banker and as an operator. During one rigorous stretch, he acquired 13 companies in 36 months , an experience that provided him with hands-on knowledge of what works and what doesn’t. In a PE Hub Canada feature, Munro discusses the opportunities and cautionary thoughts that exist for companies looking to acquire to expand their market position. He also provides his cardinal rules to preparing for, evaluating and optimizing an M&A deal.
7 min read · 25 February 2019
Ottawa-based proposal creation software platform reDock has raised $1 million in financing. The round was led by Canadian angel network Anges Québec and joined by Panache Ventures, ScaleUP Ventures and Hustle Fund. Founded in 2016 and led by CEO Pierre-Olivier Charlebois, reDock uses artificial intelligence and machine learning to automate mundane content tasks for companies submitting bid proposals. Its target market includes North American engineering, accounting and other professional services firms. The funds raised will be used by reDock to accelerate sales and marketing activity.
3 min read · 25 February 2019
Ipsen has agreed to acquire Clementia Pharmaceuticals (Nasdaq: CMTA), a Montréal-based developer of treatments for people with ultra-rare bone disorders and other diseases. Ipsen agreed to pay US$25 per share in cash upfront plus deferred payments, bringing the total consideration to US$1.31 billion ($1.73 billion). Ipsen, a Paris-based specialty biopharmaceutical group, said the purchase of Clementia's drug candidate palovarotene and other assets will boost its rare disease portfolio. Founded in 2010 by CEO Clarissa Desjardins, Clementia was venture-capital-backed before going public in 2017, raising $174 million. Several investors, including BDC Capital, New Enterprise Associates and OrbiMed Advisors, continue to hold stakes in the company.
9 min read · 25 February 2019
NuChem Therapeutics Inc, a Montréal-based drug discovery and development contract research organization backed by AmorChem, has completed a management buyout (MBO). NuChem management, consisting of Marc LeBel, Daniel Guay, Marc Janes and John Mancuso, acquired 95 percent of AmorChem's voting shares. Terms weren't released for the deal, which was funded by Investissement Québec and Fonds de Transfert d’Entreprises du Québec. NuChem, a specialist in medicinal and synthetic chemistry services, launched in 2011 with the support of AmorChem, a Canadian early-stage life sciences venture capital firm. It helped develop several of AmorChem's projects with Québec research centres.
3 min read · 22 February 2019
Baanto International Ltd, a Toronto-based developer of touch sensing solutions, has raised an undisclosed financing from Canadian intellectual-property lender Quantius. Founded in 2009, Baanto makes products that incorporate elements of its ShadowSense touchscreen technology for a range of applications, including educational and boardroom solutions, digital signage and military applications. Led by CEO Avanindra Utukuri, the company will use the funds raised for its global growth strategy. In 2014, Baanto secured $6 million in financing led by Canadian specialty finance firm Difference Capital Financial.
2 min read · 21 February 2019
Vancouver-based clean food technology provider Terramera has secured $13 million in subordinated debt financing from Business Development Bank of Canada (BDC). BDC invested through Ottawa’s $700 million clean technology strategy, announced last year. Terramera will use the proceeds for facilities, equipment and staffing to develop and commercialize its technologies, which focus on plant-based replacements for synthetic chemical pesticides and fertilizers to increase agricultural yields. Terramera, founded in 2010 by CEO Karn Manhas, raised an investment in 2016 from IKEA Group's venture capital arm.
3 min read · 21 February 2019
CIBC Innovation Banking has provided undisclosed debt financing to SiteDocs Safety Corp, an Abbotsford, British Columbia-based safety management software provider. The CIBC group said the funding will be used in conjunction with a recent equity financing to support the company's growth across North America and beyond. Founded in 2012, SiteDocs provides digital solutions to construction companies and other businesses to help them manage their workplace safety programs more efficiently. It is led by CEO Kent Bergstrom. Last year, PE Hub Canada interviewed Mark McQueen, the CIBC group’s president and executive managing director.
3 min read · 20 February 2019
Vancouver-based connected car platform Mojio has wrapped up its Series B financing at about $53 million (US$40 million). The close included investments from Assurant, a U.S. provider of vehicle protection services and warranties, Bosch, a German supplier to the automotive industry, and T-Mobile, a U.S. wireless network operator. The Series B was first announced in 2017 at $30 million and led by Kensington Capital Partners. Founded in 2012, Mojio's cloud-based software platform facilitates the deployment of secure connected car apps and services. Led by CEO Kenny Hawk, the company will use the funds raised for talent and technology to help accelerate the adoption of its solution and expand internet-of-things offerings.
3 min read · 20 February 2019
Billion Dollar Fund for Women, a global initiative that aims to increase investment in women-founded companies, has arrived in Canada to recruit local venture firms. The launch was announced today by Lally Rementilla, the fund’s Canada lead and president of Quantius, a Toronto intellectual-property lender and one of the fund’s early supporters. Rementilla told PE Hub Canada that Billion Dollar Fund is looking to spread awareness in Canada about the gender financing gap. It also offers a plan of action involving pledges by VC firms to invest a portion of their capital in tech startups created by female entrepreneurs.
2 min read · 20 February 2019
