Private Equity
Hootsuite has acquired LiftMetrix, a social media analytics company based in New York. No financial terms were disclosed for the deal, which comes on the heels of Hootsuite's buy of AdEspresso earlier this month. Hootsuite said the addition of LiftMetrix to its social marketing solution will help customers better understand the business impact and ROI of their advertising efforts. Founded in 2008, Vancouver-based Hootsuite has raised about US$250 million in venture capital funding from a number of investors, including Accel Partners, Insight Venture Partners and OMERS Ventures. LiftMetrix closed a seed round in 2014, according to Crunchbase.
3 min read · 27 February 2017
Caisse de dépôt et placement du Québec, Canada's second-biggest public pension fund, reported an average return on its investments of 7.6 percent in 2016, a lower return than the year before, reflecting challenging economic conditions, Reuters reported. The Caisse said its net assets rose to $271 billion at the end of 2016, compared with $248 billion at the end of 2015. Chief Executive Michael Sabia said the pension fund is targeting having 30 to 35 percent of its investment in less-liquid assets, such as private equity, infrastructure and real estate, in "roughly four to five years," compared with 28 percent currently.
2 min read · 24 February 2017
Canada's venture capital market saw a seventh straight year of growth in 2016, according to a report from the Canadian Venture Capital and Private Equity Association (CVCA). Driven by deals sized $50 million or more, investment in some 530 financings hit $3.2 billion at year's end, up 41 percent from 2015. In contrast, Canada's private equity market experienced slower activity due to fewer mega-deals. Investment in 2016 dipped 40 percent year over year, from from $22.9 billion to $13.7 billion, despite growth in deal volumes. Market values may be poised for a rebound, however, given a strong Q4 2016, which saw $4.1 billion invested, up 36 percent quarter over quarter.
6 min read · 24 February 2017
Canadian venture capital firm Vanedge Capital has secured $161 million in committed capital in the final close of Vanedge Capital II. Fund II, which invests in early-stage companies in cloud computing, artificial intelligence, cyber security, SaaS and digital media, closed with an additional investment from HarbourVest Partners. HarbourVest joins existing limited partners, including BDC Capital, Export Development Canada, Kensington Capital, Nicola Wealth Management and BC Tech Fund. Vancouver-based Vanedge was founded in 2008 by Managing Partner V. Paul Lee. Last year, PE Hub Canada interviewed Managing Partner Moe Kermani about Fund II's initial close.
3 min read · 24 February 2017
Canadian company creator and seed fund TandemLaunch has signed on Cap Vista Private, the investment arm of Singapore's Defence Science and Technology Agency, as an investor in TandemLaunch Ventures Fund II. Fund II closed last November at $15 million. The fund commitment by Cap Vista formalizes a partnership whereby it can provide access to potential global funding and development opportunities to TandemLaunch's technology startups. General Partner Helge Seetzen, the founder of Montréal-based TandemLaunch, was interviewed by PE Hub Canada in June 2016.
3 min read · 24 February 2017
Canadian pension fund manager OMERS reported an improved performance in 2016, helped by a strong performance from its private equity, infrastructure and real estate investments, Reuters reported. OMERS, or the Ontario Municipal Employees Retirement System, said it generated a 10.3 percent return in 2016, ahead of the 6.7 percent return it achieved in 2015 and ahead of a benchmark target of 7.9 percent. OMERS said its net assets rose to more than $85.2 billion, up from $77.1 billion in 2015.
1 min read · 24 February 2017
Tantalus Systems Corp, a smart grid solutions provider for municipal and cooperative utilities, has raised $6 million in follow-on funding. A number of investors backed the round, including CT Innovations and Vareco Holdings. The company is also backed by Discovery Capital and Redpoint Ventures, among others. Tantalus, which is based in Burnaby, British Columbia, and Raleigh, North Carolina, said the funds raised will support growth in its customer base and expansion of its smart grid applications ecosystem. Its technology is currently deployed across more than 115 utilities in North America, Latin America and the Caribbean.
4 min read · 23 February 2017
Enbala Power Networks, a Vancouver distributed energy resource management specialist, has secured $12 million in a Series B financing. The round was led by ABB Technology Ventures, the venture arm of European technology multinational ABB. It was joined by National Grid, GE Ventures, Chrysalix Venture Capital and Obvious Ventures. Founded in 2003, Enbala develops software that aggregates electricity demand, along with energy storage and renewable energy sources, to create a network of optimized distributed energy sources. The funds raised will help scale its solutions. Enbala's other investors include EnerTech Capital.
4 min read · 23 February 2017
Fusion Pharmaceuticals Inc, a newly-formed Canadian biopharmaceutical company, has raised about $33 million (US$25 million) in a Series A financing. The round was led by Johnson & Johnson Innovation-JJDC Inc and joined by HealthCap, TPG Biotech, Genesys Capital and FACIT. Hamilton, Ontario's Fusion is a spin-out from the Centre for Probe Development and Commercialization, located at McMaster University. Led by that organization's founder, Dr. John Valliant, Fusion is focused on developing targeted radiotherapeutics for treating cancer. It will use the funds raised to bring its lead program, FPX-01, into human clinical trials.
5 min read · 23 February 2017
British and Canadian regulators have signed an agreement to make it easier for financial technology companies to expand in each other's markets, Reuters reported. The agreement between the U.K.'s Financial Conduct Authority and the Ontario Securities Commission is meant to help fintech startups navigate regulations. Complicated regulations can prove challenging for companies looking to innovate and grow quickly. Canada, particular, has a fragmented regulatory environment.
1 min read · 22 February 2017
