Private Equity
London, Ontario voice-over online marketplace Voices.com has agreed to acquire Voicebank.net, a Beverly Hills, California online platform for casting and project management workflow. No financial terms were released. Voices.com, which connects buyers of audio and voice-over products and services with voice actors, said the combination of the two companies will address all market segments and include all engagement types, from animation dubbing to TV spots to podcasts to gaming. Founded in 2005, Voices.com is led by CEO David Ciccarelli. In July, it secured $18 million in funding from Morgan Stanley Expansion Capital.
3 min read · 09 August 2017
Fonds de solidarité FTQ has disclosed a March 2017 investment in Clementia Pharmaceuticals Inc, a Montréal clinical-stage biopharmaceutical company. The investment provided Clementia with about $13.4 million (US$10 million) in funding. Fonds de solidarité FTQ also said it is participating in the company's initial public offering, which was priced this week to raise as much as $172 million (US$138 million). Clementia, which was launched in 2010, is developing treatments for patients suffering from debilitating bone and other diseases.
3 min read · 03 August 2017
Montréal clinical-stage biopharmaceutical company Clementia Pharmaceuticals Inc has priced its recently filed initial public offering on the Nasdaq Global Market. The company plans to sell up to 9.2 million common shares at US$15 per unit, which would generate proceeds of as much as $172 million (US$138 million). The issue is expected to close on August 7. Founded in 2010 by CEO Clarissa Desjardins, Clementia is developing treatments for patients suffering from debilitating bone and other diseases. It is backed by BDC Capital, Fonds de solidarité FTQ, Janus Henderson Investors, OrbiMed Advisors and New Enterprise Associates.
2 min read · 03 August 2017
Tokyo Smoke, a Toronto-based cannabis lifestyle and retail brand, has raised $4 million in the first close of its Series B financing. The round, which is expected to this month exceed $5 million, was led by Aphria Inc, a Canadian medical cannabis producer, and Green Acre Capital, a Canadian cannabis-focused private investment firm, and joined by new and existing investors. Tokyo Smoke earlier this year said it was partnering with Aphria to release several branded cannabis strains. The announcement was made at the time of its $3 million Series A round. Tokyo Smoke was founded in 2015 by CEO Alan Gertner and Chairman Lorne Gertner.
3 min read · 03 August 2017
Chickapea Pasta, a Collingwood, Ontario maker of organic, high-protein and high-fibre pasta, has secured an undisclosed investment from Canadian consumer venture capital firm District Ventures Capital. Chickapea Pasta, founded in 2015 by CEO Shelby Taylor, closed the financing after completing a six-month program with District Ventures Accelerator. The fund and the accelerator are led by Arlene Dickinson, a Dragon's Den star and entrepreneur. Chickapea Pasta, which currently sells in Canada and the United States, will use the funds raised to support its growth strategy, which includes the introduction of a second product line.
2 min read · 03 August 2017
Canada’s move towards legalization of cannabis in 2018 makes it uniquely positioned, relative to the United States, to be at the forefront of cannabis commerce and a leader in attracting investment in its industry. Currently, most equity capital for cannabis businesses is being raised by boutique investment banks. While initially investors in the cannabis industry included individuals and some small venture capital and private equity funds, larger established funds have recently begun to turn their attention towards the industry. In a PE Hub Canada feature article, Torys LLP's Michael Akkawi, Allison Hennick, Sarah Carter and Owen Payne closely examine the issues investors must consider to become an early mover in the “green rush.”
8 min read · 02 August 2017
Toronto peer-to-peer lending marketplace Lending Loop has raised $2 million in financing. The round was led by Canadian early-stage venture capital fund MaRS Investment Accelerator Fund and joined by finance and technology investors. Lending Loop said the funds raised backed the roll-out its new automated investing product, Auto-Lend, and will support new product expansion. Founded in 2014 by CEO Cato Pastoll and CTO Brandon Vlaar, Lending Loop has facilitated more than $7 million of small business financing with the help of over 9,500 investors. It closed its seed round in 2015.
3 min read · 02 August 2017
Enbala Power Networks has secured funding from Zoma Capital, the investment arm of a U.S. family office. It resulted in a second close of Enbala's Series B financing, bringing the round's total to $17.5 million. The initial close, announced earlier in 2017, was led by ABB Technology Ventures, with participation from National Grid, GE Ventures, Obvious Ventures, EnerTech Capital and Chrysalix Venture Capital. Vancouver-based Enbala provides distributed energy resource management software to make power grids greener and more efficient. Founded in 2003, the company is led by President and CEO Arthur “Bud” Vos.
3 min read · 02 August 2017
Venture capital investment in Canadian technology companies continued at a robust pace in the first half of 2017, with $2.1 billion invested in 237 financings, according to final data released by Thomson Reuters. In dollar terms, this was the most active first half since 2001, with Q2 2017 marking the third consecutive quarter in which disbursements exceeded $1 billion. H1 2017 deal volumes, however, were down by 27 percent year over year. The second quarter accounted for only 100 rounds, the fewest since Q3 2012. Canadian venture capital fundraising, while falling short of the record-setting levels of last year, nonetheless saw 13 funds raising $617 million in the first half.
4 min read · 02 August 2017
Toronto reservations and ticketing software platform Betterez Inc has raised a strategic investment from JetBlue Technology Ventures (JTV), the venture capital arm of JetBlue Airways Corp (NASDAQ: JBLU), a U.S. discount airline. No financial terms were released. The deal follows the company's seed financing in March, led by the venture fund of Amadeus IT Group. Launched in 2011 by CEO Tal Shalit, Betterez helps modernize bus and motorcoach operators by digitizing their businesses and introducing online booking, mobile ticketing and e-commerce. It said the JTV partnership will support continued growth and innovation.
3 min read · 01 August 2017
