Private Equity
BDC Capital’s Women in Technology Venture Fund (WIT) has closed new investments in four women-led technology companies. The fund invested in AvenueHQ, a Vancouver real estate marketing software provider co-founded by COO Rebecca Troelstra; Lufa Farms, a Montréal developer of urban greenhouse facilities co-founded by Lauren Rathmell; Tealbook, a Toronto supplier intelligence provider to enterprises founded by CEO Stephany Lapierre, and; Unsplash, a Montréal free-for-use curated photo platform co-founded by Stephanie Liverani. The $200 million WIT fund has so far invested in 14 women-led companies.
4 min read · 11 July 2018
Metamaterial Technologies Inc (MTI), a Halifax-based smart materials and photonics company, has acquired Medical Wireless Sensing Ltd, a U.K. developer of wireless devices for medical diagnostics and monitoring. No financial terms were disclosed. MTI CEO George Palikaras said the deal provides his company with complementary advanced materials technology, intellectual property and new opportunities, including an ability to help design and develop low-cost, energy-saving medical equipment. Founded in 2011, MTI last year secured an $8.3 million Series A financing led by Radar Capital and joined by Innovacorp and others.
3 min read · 10 July 2018
Interaxon Inc, a Toronto-based developer of brainwave-sensing technology, has acquired Meditation Studio, a U.S. app that provides users with expert-guided meditations and related resources. No financial terms were released. Interaxon CEO Derek Luke said the deal expands his company's direct-to-consumer offerings and reinforces its contribution to brain health. It now offers a database of more than 400 guided meditations and courses. Interaxon, the maker of the Muse sensory headband, last year secured about $14.8 million in a Series B-1 financing led by Trend Forward Capital, Export Development Canada and OMERS Ventures.
3 min read · 10 July 2018
Chronogolf, a Montréal-based provider of software and marketing solutions to golf courses, has closed its third financing round, raising $2 million. The investors were not disclosed. Chronogolf has previously been backed by Anges Québec, BDC Capital, iNovia Capital and Telegraph Hill Capital. Founded in 2012 by Co-CEOs Guillaume Jacquet and JD St-Martin, Chronogolf serves more than 500 golf-course operators in North America and Europe, providing online booking, electronic tee-sheets, member and tournament management, customer loyalty and point-of-sale solutions. It said it will continue expanding globally and invest in further technology enhancements.
3 min read · 10 July 2018
Toronto-based cannabis software provider Ample Organics Inc has raised an undisclosed investment from David Thomson's Osmington Inc and Green Acre Capital, a Canadian cannabis-focused investment firm. Founded in 2014 and led by President and CEO John Prentice, Ample Organics provides software for cannabis seed-to-sale tracking and reporting. The company's other products include AmpleCare, a patient registration platform for licensed producers, and AmplePayments, a cannabis payments and credit solutions platform. The funds raised will be used to support Ample Organics' domestic and international growth strategy.
3 min read · 09 July 2018
Cochrane, Alberta-based industrial internet-of-things (IIoT) solutions provider mcThings has raised undisclosed financing from Accelerate Fund II. Founded in 2014 and led by President and CEO Tom Groenland, mcThings helps businesses to affordably create and deploy IIoT solutions by combining low-cost, battery-powered devices, field-programmable sensors, network gateways, and a cloud management and security platform. It will use the funds raised to continue growing and enhance sales capacity. Accelerate Fund II, an early-stage angel co-investment fund, is managed by Canadian private equity firm Yaletown Partners.
4 min read · 09 July 2018
Fitplan Technologies, a Vancouver and Los Angeles mobile fitness platform, has raised about $6.2 million (US$4.7 million) in financing. The round was backed by Lerer Hippeau, Bullpen Capital, Advanceit and Imaginary Ventures. Founded in 2016 by CEO Landon Hamilton and President Cam Speck, Fitplan connects users with curated fitness plans, making it efficient and affordable to find the right routine, track progress and achieve results. It currently serves 167,000 users. Fitplan will use the funds raised to develop the platform, grow its user base, expand its team and bring on more personal trainers.
3 min read · 05 July 2018
Canopy Growth Corp (TSX: WEED) has closed its acquisition of a 33 percent stake of cannabis production brand BC Tweed Joint Venture Inc not owned by the company. Canopy Growth issued $374 million of shares to BC Tweed's minority investors. Payments will be released over three years with the achievement of milestones. Launched in 2017, BC Tweed today has over 1.7 million square feet of licensed production to meet forthcoming recreational cannabis demand. It was spun out of SunSelect Produce Inc, a Delta, British Columbia-based vegetable producer backed by Canadian investors Avrio Capital and InvestEco Capital.
3 min read · 05 July 2018
Export Development Canada (EDC) has launched a co-investment initiative to support Canadian growth-stage clean technology companies. The Cleantech Co-Investment Program (CCIP) will partner with private investors to back companies with about $1 million in revenue and the potential to continue growing and access the global market. CCIP's debut deal was with Pyrowave, a Toronto and Montréal developer of a recycling technology that converts waste plastics into high-value end products. CCIP, Ecofuel, an affiliate of Cycle Capital Management, and a European investor provided $1 million in financing.
4 min read · 05 July 2018
Fonds de solidarité FTQ reported comprehensive income of $1 billion for its fiscal year ended May 31, 2018. It posted an overall annual return of 7.5 percent, driven by an investment portfolio return of 14.1 percent. As a result, total net assets of the Montréal-based development-capital investment firm increased to $14.3 billion. During the year, the Fonds invested $1.1 billion, primarily in Québec-based businesses. At the end of May, it had 2,839 partner companies and 667,417 shareholders.
3 min read · 05 July 2018
