Private Equity
AvenueHQ, a Vancouver-based real estate marketing software platform, has raised $4.5 million in a seed-stage financing, according to a report by Techvibes. The round was led by VFF with participation from BDC Capital's Women in Technology Fund and Pallasite Ventures, the report said. It will help AvenueHQ continue its growth in the United States. Formerly known as Realty Butler Technology, AvenueHQ was founded in 2014 by CEO Chris Troelstra and COO Rebecca Troelstra to build and maintain websites and manage digital marketing for real estate professionals. The company's other backers include Conconi Growth Partners and TIMIA Capital Corp.
1 min read · 30 May 2018
Tradeshift, a San Francisco-based business commerce platform that connects buyers and sellers, has raised US$250 million in a Series E financing. The round was led by Goldman Sachs and Canadian pension fund manager Public Sector Pension Investment Board, and joined by the company's existing backers. Tradeshift said the deal brings its valuation to US$1.1 billion. Founded in 2009, Tradeshift's technology enables supply chain payments and marketplaces for more than 1.5 million businesses worldwide. It will use the funds raised for strategic initiatives, including continued growth in Europe and Asia and investments in emerging technologies.
3 min read · 30 May 2018
Canada’s venture capital market saw year-over-year growth in dollar terms in the first quarter of 2018, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). A total of $690 million was invested in 139 financings in this period, up 6 percent from the $649 million invested in Q1 2017. One key to Q1 2018 results was three rounds of $50 million-plus, which accounted for 34 percent of VC invested. Information and communication technology companies led dealmaking between January and March, capturing $423 million , or 61 percent of the total, while clean technology companies took $132 million, or a 19 percent share.
4 min read · 30 May 2018
MedMen Enterprises Inc, a Los Angeles-based legal cannabis cultivator, producer and retailer, has begun trading on the Canadian Securities Exchange with the completion of a reverse takeover of a Canadian public vehicle. The company raised about $143 million (US$110 million) through a private placement, which implies a valuation of $2.14 billion (US$1.65 billion). Founded in 2010, MedMen owns and operates 18 licensed facilities in California, Nevada and New York. It has secured private equity and venture capital financing, estimated in a Financial Post report to total US$135 million, from a range of investors.
5 min read · 29 May 2018
Clarius Mobile Health Inc, a Burnaby, British Columbia-based developer of ultrasound scanners, has raised $6.3 million in financing. PenderFund Capital Management's mid-stage technology fund led the round and was joined by Export Development Canada (EDC) and others. As a result, Pender's Maria Pacella has joined the board. Launched in 2014, Clarius makes handheld scanners that can connect to devices for portable, wireless ultrasound imaging. It will use the funds raised to support growth, sales and marketing, and product development. As reported by Buyouts, Clarius is the debut deal of Pender Technology Inflection Fund I, launched earlier this year.
3 min read · 28 May 2018
PepsiCo Inc (Nasdaq: PEP) has agreed to acquire Bare Foods Co, which does business as Bare Snacks, a U.S. maker of baked fruit and vegetable snacks. No financial terms were disclosed. Founded in 2001, San Francisco-based Bare Snacks offers a range of real fruit baked snacks, such as crunchy apple chips, coconut chips and banana chips. Pepsi said the deal will expand nutritional options in its snacking portfolio. Bare Snacks is backed by Canadian venture capital firm Avrio Capital and U.S. firms NGEN Partners and Silas Capital, all of which invested in the company's US$$9.25 million financing in 2013.
4 min read · 25 May 2018
Globalive Technology Partners (GTP) has acquired a 51 percent stake in the software development arm of Business Instincts Group (BIG), a Calgary venture creation firm led by CEO Cameron Chell. No financial terms were released for the deal, which launches a joint venture called Globalive BIGDEV, a blockchain and machine learning software development and commercialization shop. It has six projects in development, five focused on blockchain and one on artificial intelligence. GTP, unveiled in January by Globalive Capital and the founders of Mundo Inc and VRG Capital, earlier this week announced its going public transaction and $30 million financing.
3 min read · 25 May 2018
Montréal-based information technology modernization specialist Fresche Solutions has raised about $77 million (US$60 million) in fresh funding. National Bank of Canada (NBC) was the lead arranger, sole book runner and administrative agent for the deal, backed by a syndicate of NBC, Investissement Québec and TD Bank. The proceeds will be used for the company's operations, organic growth and acquisition strategy. Fresche helps organizations modernize and extend the life of applications and databases that run on IBM Power Systems. Led by President and CEO Andy Kulakowski, the company has previously raised funding from Fonds de solidarité FTQ and Fondaction CSN.
5 min read · 24 May 2018
Canadian specialty finance firm Crown Capital Partners has provided a $10 million loan to WireIE (Canada) Inc, a Richmond, Ontario-based network operator that specializes in deploying and managing carrier-grade data networks in rural and remote areas. Founded in 2007, WireIE builds, owns and operates data networks for customers in the telecom carrier, oil and gas, utility and government sectors in Canada and around the globe. Rob Barlow, the company's president and CEO, said the proceeds of Crown's 10-year loan will help accelerate growth. WireIE is a portfolio investment of Covington Funds, a Canadian venture capital firm.
3 min read · 24 May 2018
Capital pool company Corporate Catalyst Acquisition Inc has agreed to amalgamate with Globalive Technology Partners (GTP), a Toronto-based operating and investment platform focused on developing blockchain and machine learning technology stacks with partner companies. With the deal's close, the new entity's board will conditionally consist of GTP CEO Anthony Lacavera, founder of Wind Mobile and head of Globalive Capital, and the founders of Mundo Inc and VRG Capital, who together launched GTP earlier this year. It was also announced that GTP has wrapped up a $30 million private placement of subscription receipts in connection with the going public transaction.
5 min read · 23 May 2018
