Canada

McRock Capital leads $5 mln Series A financing of Serious Integrated

Serious Integrated Inc, a human-machine interface and communications platform, has secured US$5 million in a Series A financing. The round was led by Canadian venture capital firm McRock Capital. With the deal, McRock's Scott MacDonald and Whitney Rockley will join the company's board. Chandler, Arizona-based Serious was founded in 2008 by CEO Terry West. It is focused on developing technology that enables original equipment manufacturers to transform their products into smarter, highly-connected digital age devices. McRock made its investment in the company via McRock iNFund LP, which raised $65 million in a final close last year.

Facebook's Mike Shaver joins Real Ventures as general partner

Mike Shaver, director of engineering at Silicon Valley social media and social networking platform Facebook, has joined the investment team of Canadian venture capital firm Real Ventures. He assumed the role of general partner and will operate from the firm's office in Toronto. Over the past five years, Shaver led the development of Facebook Mobile. Prior to then, he was a senior technology executive at Mozilla Corp and Zero Knowledge Systems Inc. In August 2015, Montréal-based Real Ventures raised $89 million for its third early-stage fund, Real Ventures III.

Telus Ventures invests in $6.2 mln Series C funding of Zenedge

Aventura, Florida-based cybersecurity platform Zenedge has secured US$6.2 million in a Series C financing. Pilot Growth Equity led the round. It was joined by Zoho Corp as well as Zenedge's existing investors, which include Canadian strategic venture capital firm Telus Ventures. Founded in 2014, Zenedge provides cloud-based, managed cybersecurity infrastructure that helps organizations secure their web applications and networks against vulnerabilities and attacks. It plans to use the funds raised to invest in continued global expansion, sales and marketing activities, and its patent-pending technology.

Information VP II nears $100 mln target with help from RBC, Power Financial

Information Venture Partners is fast approaching the $100-million target set for its second VC fund, thanks in part to partnerships with Canada’s largest bank and other financial heavyweights eager to gain access to emerging fintech opportunities. The Toronto-based firm today announced the $96 million second close of Information Venture Partners II, earmarked for investments in financial technology and enterprise software companies. The fund is expected to meet or surpass its final goal later this year, General Partners Robert Antoniades and David Unsworth told PE Hub Canada.

Chinese seed fund leads investment in Whistler Water

Whistler Water Inc, a Burnaby, British Columbia-based maker and supplier of premium glacial water, has received an undisclosed investment. The investment was led by ZhenFund, a Beijing-based seed fund established in 2011 in collaboration with Sequoia Capital China. The other investors were not disclosed. Whistler said the deal was made official during Prime Minister Justin Trudeau's recent visit to China for the G20 meeting. It is intended to support the promotion, marketing and selling of Whistler branded products in China and other overseas markets.

Former VC Derek Smyth tapped as Intelex Technologies' CCO

Intelex Technologies Inc, a Toronto-based provider of environmental, health, safety and quality management software, has hired Derek Smyth as its new chief customer officer. Smyth, who joined Intelex from Vision Critical Communications Inc, will help drive the company's global go-to-market strategies. Prior to his time at Vision Critical, Smyth worked as a senior investment professional at OMERS Ventures, Bridgescale Partners and EdgeStone Capital Partners. Last year, Intelex secured $160 million in a financing led by JMI Equity.

XPV-backed Nexom acquires Blue Water Technologies' assets

Canada's Nexom has acquired the assets of Blue Water Technologies Inc, a Hayden, Idaho-based specialist in tertiary sand filters and primary pre-screening. No financial terms were disclosed. Winnipeg-based Nexom said the deal will enhance its wastewater treatment technology solutions, which aim to improve nutrient removal and increase energy efficiency. Nexom was launched earlier this year and is led by CEO Tom Pokorsky and President Martin Hildebrand. XPV Water Partners, a Canadian growth equity firm focused on the water sector, made an undisclosed investment in the company last month. Nexom said it is considering additional acquisitions.

Terrestrial Energy tops up Series A financing to $15.3 mln

Terrestrial Energy Inc, a Canadian advanced nuclear technology provider, has topped up its Series A financing by $5.3 million, bringing the round's total to $15.3 million. The investors were not disclosed. Based in Oakville, Ontario, Terrestial is developing a next-generation nuclear reactor based on its integral molten salt reactor technology. It said the funds raised will allow for continued development of the technology and an ability to demonstrate its commercial merits to industry and government. Founded in 2013, Terrestrial has secured $22.5 million in total financing to date.

Globalive to expand VC investing with sales of Yak, OneConnect

Globalive Capital, a Canadian technology investment firm chaired by former Wind Mobile head Anthony Lacavera, has sold telecommunications companies Yak Communications and OneConnect Services. Yak was acquired by Distributel Communications Ltd, while OneConnect and its affiliate Canopco went to Accelerated Connections Inc. No financial terms were released. Globalive said the deals facilitate its plan to invest in new technology ventures and expand its global footprint. The Toronto-based firm launched a $100 million early-stage venture capital fund in early 2016.

Achievers' founder Razor Suleman appointed CEO of NEXT Canada

The Next 36, a Canadian non-profit organization focused on supporting young entrepreneurs, has rebranded as NEXT Canada. The initiative is intended to help expand the organization's scope, NEXT Canada said. To lead this effort, NEXT Canada has appointed Razor Suleman as its new CEO. Suleman founded and led Achievers, a venture-backed employee engagement platform acquired last year. He is currently a partner at Canadian alternative investment firm Alignvest Management Corp. Earlier in 2016, NEXT Canada launched the Young Founders Fund in partnership with BDC Capital and other investors.