Private Equity
Canadian specialty finance firm TIMIA Capital Corp has provided a $2 million funding facility to Parkbench Inc, a Toronto discovery service for local events, deals, news and real estate. The revenue-based facility includes a first investment of $1 million and a further $1 million to be deployed when milestones are met. Parkbench, launched in 2014 by CEO Grant Findlay-Shirras and CMO Amanda Newman, targets its online service to real estate agents and mortgage brokers. In 2016, the company secured financing from U.S. accelerator and venture capital firm 500 Startups.
3 min read · 08 March 2018
The Business Development Bank of Canada (BDC) has entered into a partnership with Women's Enterprise Organizations of Canada (WECO) to support women entrepreneurs and increase their financing opportunities. BDC will work with five WEOC member organizations and some 90,000 women business owners who work with WEOC members at the national level. The agreement adds to BDC's other commitments, including a new target of $1.4 billion in lending to women-led businesses by 2021, announced in last week's federal Budget 2018, and $200 million of investment in women-led technology companies.
3 min read · 08 March 2018
Vancouver-based connected car platform Mojio Inc has raised an undisclosed investment from European venture capital firm Iris Capital and Telus Ventures, the strategic venture capital arm of Telus Corp. The investment, which tops up the company's $30 million Series B financing, closed late last year, will help Mojio accelerate adoption of its connected car solutions for mobile network operators and automotive makers in North America and Europe. Founded in 2012, Mojio's other backers include Amazon Alexa Fund, BDC Capital, Deutsche Telekom, innogy Ventures, Kensington Capital Partners, Relay Ventures and Trend Forward Capital.
5 min read · 08 March 2018
Poka, a Québec City-based social industrial platform, has raised $10 million in its latest financing, according to a report by BetaKit. The round was led by Espace CDPQ, an entrepreneurial hub created by Caisse de dépôt et placement du Québec, the report said. It was joined by Robert Bosch Venture Capital GmbH (RBVC), the Leclerc family, and Poka's original seed investors iNovia Capital and Uncork Capital. Founded in 2013 by CEO Alexandre Leclerc and CTO Antoine Bisson, Poka helps manufacturing companies with communications and training through a web and mobile application that collects and shares comprehensive factory data and procedures in real time. Update: Poka confirmed the financing in a release issued after the BetaKit report, noting that RBVC co-led with Espace CDPQ.
1 min read · 07 March 2018
Newterra Ltd has acquired Aeration Industries International LLC, a Chaska, Minnesota-based provider of wastewater aeration and mixing solutions. No financial terms were released for the deal, which saw Aeration sold by Granite Equity Partners, a U.S. private equity firm that has owned the business since 2010. Newterra is a Brockville, Ontario-based specialist in decentralized and modular water, wastewater, and groundwater remediation solutions. It said the deal will diversify revenue, support growth, and increase or add a presence in the industrial wastewater treatment and aquaculture markets. Newterra is backed XPV Water Partners and other investors.
3 min read · 07 March 2018
Ecobee Inc, the Toronto-based maker of a smart Wi-Fi thermostat, has secured $80 million in a Series C financing, bringing its total funding to date to about $188 million. Energy Impact Partners led the latest round. It was joined by Amazon Alexa Fund, EDC, GXP, Northleaf Capital Partners, Ontario Capital Growth Corp, Relay Ventures, Tech Capital and Thomvest. Since its founding in 2007, Ecobee said it has won more than a third of the smart thermostat market and shown over 100 percent year-over-year growth. Led by President and CEO Stuart Lombard, it will use the funds raised to advance its product suite using voice capabilities, sensor technology and artificial intelligence.
4 min read · 07 March 2018
Canada’s venture capital market saw 11 percent growth in 2017 with $3.5 billion invested in 592 financings, compared to $3.2 billion invested in 2016, according to a report by the Canadian Venture Capital and Private Equity Association (CVCA). Domestic market activity is now about twice the size it was five years ago, the CVCA said. A key factor in 2017 results was rounds sized $50 million-plus, though activity at the smaller end of the deal spectrum also saw growth. Led by the $207 million Series D financing of Lightspeed, Canada's information technology sector accounted for the largest share of VC invested last year (71 percent).
4 min read · 06 March 2018
Panache Ventures, a new Montréal-based early-stage venture capital firm, has launched its debut fund. Panache Ventures I, which raised $25 million in an initial close, will invest in pre-seed and seed opportunities in artificial intelligence-machine learning, blockchain, cybersecurity, financial technology and other sectors. Managing Partners Mike Cegelski and Patrick Lor, Partner David Dufresne and Associate Nicolas Jacques-Bouchard, who helped launch 500 Startups Canada two years ago, will lead the firm. Panache has already backed 11 of a planned 140 Canadian startups to receive investments over the next four years. It will soon add a Toronto-based team member.
2 min read · 06 March 2018
With legalization on the horizon, discussion among industry observers is increasingly concerned with how cannabis businesses, particularly licensed producers, will access the funds they need to succeed in a rapidly evolving and highly competitive recreational market. To date, the focus has largely been on equity financing. In a PE Hub Canada feature article, Torys LLP Partners Amanda Balasubramanian and Scott Bomhof and Stephen Dalby look at the potential role for effective debt financing strategies.
7 min read · 05 March 2018
Blue Ant Media Inc has acquired Australian Geographic magazine and its associated assets, from publisher Bauer Media Australia. No financial terms were disclosed. The deal will see the bi-monthly Australian wildlife and nature magazine, which has a readership of more than 540,000, continue to operate from Sydney. Blue Ant, a Toronto-based content producer, distributor and channel operator, said the deal reinforces its footprint in the Australian market. Founded in 2011, Blue Ant's backers include Difference Capital, Gibraltar Ventures, Kensington Venture Fund and Relay Ventures.
3 min read · 05 March 2018
