Private Equity
Toronto-based lending technology platform Lendified Holdings Inc has agreed to receive up to $20 million in a credit facility provided by Liquid Capital Corp, a Canadian factoring and trade finance business. At the same time, the company secured $4 million in mezzanine financing via a private placement. Founded in 2015 by CEO Troy Wright and President Kevin Clark, Lendified operates an online credit marketplace that provides fixed-rate working capital loans and other financial services to small businesses. It plans to use the funds raised and partnership with Liquid Capital to support the growth of its lending activities in Canada.
5 min read · 18 August 2016
The Fonds de solidarité FTQ has made a $15 million capital commitment to Genesys Ventures III, the third life sciences fund of Canadian venture capital firm Genesys Capital. The Fonds said the investment is consistent with its strategy of working with specialized funds with a market history in Québec. PE Hub Canada reported this week that Toronto-based Genesys raised $90 million in the initial close of Fund III, which is targeted to raise $125 million in total. The Fonds was one of 14 limited partners that participated in the initial close. Another was HarbourVest Canada Growth Fund.
2 min read · 18 August 2016
Canadian venture firm ThreeD Capital Inc has closed a private placement at $600,000. According to the terms of the transaction, ThreeD Capital sold 12 million units at $.05 per unit. The investors were not named.
1 min read · 17 August 2016
Genesys Capital has collected most of the $125 million target set for its third venture fund, adding to the momentum felt of late in Canada’s life-sciences sector. Genesys Ventures III initially closed at $90 million in committed capital, the Toronto-based firm announced this week. That puts the fund more than 70 percent of the way to reaching its final goal, expected early next year, Managing Director Damian Lamb told PE Hub Canada.
3 min read · 16 August 2016
Joliette, Québec-based Intelia Inc, an agricultural technology company, has received undisclosed financing. Canadian venture capital firm Avrio Capital, which announced its investment in May, partnered with Anges Québec and Desjardins-Innovatech in the round. Since 2013, Intelia has focused on designing, making and distributing a line of control systems and data analytics services for livestock farming. The company plans to use the funds raised to target opportunities in the global agricultural data analytics market. Intelia is led by CEO Dominic Désy and President Claude Lafleur, an Anges Québec member.
2 min read · 15 August 2016
Jérôme Nycz, executive vice-president of BDC Capital, has met many Canadian founders with the ingredients to build the next unicorn. But Canada’s innovative startups also face headwinds, he notes. In a feature article for PE Hub Canada, Nycz asks if the capital will be there to support home-grown tech companies and ensure they can compete on a global scale.
3 min read · 12 August 2016
Canadian real estate technology platform Spark has secured $1 million in a first round of financing. The investors were not disclosed. Based in Vancouver, Spark develops software for selling, marketing and managing new development real estate, from pre-sale condos and single family homes to master-planned communities. It tracks and manages close to $10 billion of inventory. Founded in 2012 by CEO Simeon Garratt and COO-CPO Cody Curley, Spark plans to use the funds raised to expand internationally, focus on research and development, and acquire new talent.
3 min read · 11 August 2016
Canadian merger and acquisition (M&A) activity at home and abroad in the second quarter of 2016 reached its highest level since Q3 2014, despite a substantial drop in deal values, Crosbie & Co reported. Figures developed from Capital IQ and other sources showed 709 deals capturing $47.9 billion in Q2 2016, compared to 652 deals worth $75 billion a year ago. Domestic M&A activity saw year-over-year gains in both volume and dollars invested between April and June, with 482 deals valued at $19.8 billion. Crosbie said the overall increase in M&A transactions was driven in resource sectors, which are experiencing the effects of more stable commodity prices.
3 min read · 11 August 2016
New York-based education-to-employment specialist General Assembly (GA) has acquired Bitmaker Labs, a Canadian provider of education in computer programming and technology. No financial terms were disclosed. GA said Toronto-based Bitmaker's team, including CEO and Founder Andrew Mawer, will continue to lead the company's growth as a subsidiary. Founded in 2012, Bitmaker raised funding in November 2014 in a round led by Russell Square Partners. GA has raised close to US$120 million in venture capital since its launch in 2011. Its backers include Advance Publications, GSV Capital, IVP, Learn Capital, Maveron and Wellington Management.
4 min read · 10 August 2016
Kira Talent Inc has raised $5 million in a Series A financing, bringing its total funding so far to $8 million. The startup's existing backers contributed to the latest round. They include Canadian venture capital investors Relay Ventures and BDC Capital IT Venture Fund, as well as Globalive Capital and Roger Martin. Founded in 2012, Toronto-based Kira has developed video admissions and talent assessment technology for post-secondary institutions. The company reports that more than 250,000 students from more than 110 countries are expected to use its platform this year. Kira plans to use the funds raised to develop new product offerings and expand its client base.
3 min read · 10 August 2016
