Private Equity
Headset, a Seattle, Washington-based provider of data and analytics to the cannabis industry, has raised US$12.5 million in a Series A financing. Poseidon Asset Management and AFI Capital Partners led the round. They were joined by Canopy Rivers, the venture capital investment arm of Canadian cannabis producer Canopy Growth Corp, which committed $4.1 million. Founded in 2015, Headset helps growers, processors and retailers turn sales data into real-time market intelligence. It will use the funds raised for enhancing products and services, global growth, and to support partnerships and strategic alliances.
4 min read · 09 January 2019
Vena Solutions, a Toronto-based provider of cloud financial planning and analysis software, has secured $115 million in its latest financing. The round was led by U.S. software growth equity firm JMI Equity. It was joined by Centana Growth Partners, which led the company's $30 million financing in 2016. Vena's other backers include Difference Capital Financial and Klass Capital. Founded in 2011 by CEO Don Mal, Chief Solutions Architect Rishi Grover and CTO George Papayiannis, Vena helps medium and large-sized companies manage their budgeting, forecasting and business planning. The funds raised will be used to accelerate Vena's growth and scale its operations.
4 min read · 09 January 2019
Globalive Technology Inc (TSX-V: LIVE) said it will exercise a call option to acquire control of Flexiti Financial Inc, a Toronto-based point-of-sale consumer financing company, from Globalive Capital (GC). Terms weren't disclosed. Exercising the call option, obtained last year, will give Globalive Technology 41 percent ownership and 51 percent voting control over Flexiti's parent. As part of the deal, Globalive Technology intends to raise about $10 million in financing, of which GC, the investment firm of Anthony Lacavera, expects to commit $4 million. Globalive Technology, which is controlled by GC, aims to leverage artificial intelligence and machine learning technologies to optimize Flexiti's solution.
5 min read · 09 January 2019
CIBC Innovation Banking has provided undisclosed debt financing to Ruby Receptionists, a Portland, Oregon-based virtual receptionist platform. The deal's proceeds will support the company's acquisition of ProfessionalChats, a U.S. managed online chat service, and other growth initiatives. Founded in 2003, Ruby Receptionists' technology enables personalized live virtual receptionist services for more than 8,000 small businesses in North America. It is backed by Updata Partners and StepStone Group. Last year, PE Hub Canada interviewed Mark McQueen, the CIBC group’s president and executive managing director.
3 min read · 09 January 2019
TrackTik Software Inc, a Montréal-based provider of security workforce management cloud solutions, has raised $45 million in follow-on financing. Canadian growth equity firm Georgian Partners and Caisse de dépôt et placement du Québec backed the round. The company's other investors include iNovia Capital and Klass Capital. Founded in 2013 by CEO Simon Ferragne, TrackTik provides an all-in-one platform offering professional security services companies control of every aspect of their business. The funds raised will be used for new product development, including artificial intelligence and machine learning technologies. They will also allow TrackTik to double its workforce to support global growth.
5 min read · 09 January 2019
Jim Orlando, managing partner at OMERS Ventures, has pulled out his crystal ball and made predictions about Canadian venture capital and startup trends in the year ahead. In a PE Hub Canada feature article, Orlando presents a number of fearless forecasts about the 2019 financing environment for local innovative companies, funding sources, and the focus of dealmaking. He also provides insight into a wide range of emerging technology sectors that will likely shape investment activity in the Canadian market. With OMERS Ventures' growing activity in the United States and Europe, he also has a few predictions about trends at the international level.
9 min read · 08 January 2019
The Canadian Venture Capital and Private Equity Association (CVCA) has appointed Kim Furlong as its new CEO. Furlong joins CVCA from Toronto-based biotechnology company Amgen Canada, where for more than a decade she served as director of federal government affairs. Before then, she was vice president, federal government relations, at the Retail Council of Canada. Furlong replaces Mike Woollatt, who served as CVCA CEO between 2014 and 2018. Last September, Woollatt left the organization to become director of strategic partnerships at OMERS Platform Investments. Founded in 1974, Toronto-based CVCA is the professional association for Canada's venture capital and private equity industry.
3 min read · 07 January 2019
Verily Life Sciences, a life sciences research and engineering organization held by Alphabet Inc, the parent company of Google, has raised US$1 billion in financing. The round was led by U.S. technology private equity firm Silver Lake Partners. It was joined by other new investors, including Ontario Teachers’ Pension Plan. South San Francisco-based Verily develops tools and platforms that collect and organize health data to help improve healthcare delivery and clinical outcomes. The company will use the funds raised to support growth in key areas, including investments in strategic partnerships, global business development opportunities, and potential acquisitions.
3 min read · 04 January 2019
Activity in Canada’s initial public offering (IPO) market had a "respectable" finish in 2018 despite volatility and uncertainty, according to a survey by PwC Canada. In all, 54 new equity issues on Canadian exchanges raised $2.2 billion last year, PwC found. That is less than half of the $5.1 billion generated by 37 IPOs in 2017. Last year's largest IPO was the US$462 million Canada-U.S. listing of Ceridian HCM Holding Inc, a human-resources-software provider backed by Thomas H. Lee Partners and Cannae Investors. In second spot was the $242 million IPO of Marc Anthony Cosmetics Inc, a beauty specialist backed by TA Associates.
4 min read · 03 January 2019
Ostara Nutrient Recovery Technologies Inc, a Vancouver-based provider of nutrient management solutions, has raised a preferred equity financing of more than $15 million (US$11 million). The round was led by U.K.-based Wheatsheaf Group Ltd and U.S. energy venture capital firm VantagePoint Capital. They were joined by other returning investors. Founded in 2005, Ostara's technology recovers phosphorus and nitrogen from industrial, agricultural and municipal water treatment facilities and converts them into sustainable fertilizer. Led by President and CEO Dan Parmar, the company will use the funds raised to accelerate scaling of fertilizer production, support global growth, and hire new talent.
3 min read · 03 January 2019
