Private Equity
Members of angel network Anges Québec have partnered with Aligo Innovation LP, private investors, and Cystic Fibrosis Canada in an undisclosed financing of Laurent Pharmaceuticals Inc. Based in Montréal, Laurent is a biopharmaceutical company focused on developing a drug (LAU-7b) that aims to treat the compromised immune-inflammatory response in cystic fibrosis. The proceeds of the round will support the company's preparations for a Phase II clinical trial of the drug. Laurent was founded in 2012.
3 min read · 06 April 2016
The Caisse de dépôt et placement du Québec and Investissement Québec (IQ) have together invested $12.8 million in AddÉnergie Technologies Inc, a Canadian developer, maker and operator of smart charging solutions for electric vehicles. Based in Québec City, AddÉnergie operates close to 2,000 charging stations in Canada, and aims to add 8,000 new charging stations in the next five years. The funding provided by the Caisse and IQ will support this objective. Founded in 2009, AddÉnergie is led by President and CEO Louis Tremblay.
3 min read · 06 April 2016
The Business Development Bank of Canada (BDC) said the Venture Capital Action Plan (VCAP) has achieved its goal of launching four privately-managed funds of funds with a total of $1.35 billion under management. BDC, which helped implement VCAP, said the milestone was reached with the final close of HarbourVest Canada Growth Fund, which followed earlier closes by Teralys Capital Innovation Fund, Kensington Venture Fund and Northleaf Venture Catalyst Fund. VCAP, established three years ago to encourage private sector participation in Canada's venture capital market, succeeded in leveraging $900 million from corporate, institutional and other private limited partners, BDC said.
3 min read · 05 April 2016
Boston-based asset manager HarbourVest Partners has closed its venture fund of funds HarbourVest Canada Growth Fund at $375 million. HarbourVest Canada, the fourth and final fund closed in partnership with Ottawa's Venture Capital Action Plan (VCAP), received two-thirds of its committed capital from institutional, corporate, high-net-worth investors and other limited partners based in Canada, the United States and Europe. Led by HarbourVest Principal Senia Rapisarda, the fund has since its initial close last year committed money to a range of Canadian and international venture capital funds. It has also invested directly in Canadian companies, including Intelex Technologies Inc. HarbourVest Canada's close brings total fundraising by VCAP-backed funds to $1.36 billion.
3 min read · 05 April 2016
South Africa's Dimension Data has acquired Ceryx Inc, a Canadian managed information technology services company focused on cloud-based messaging and collaboration solutions primarily for North American enterprises. The deal's financial terms were not disclosed. Dimension Data said the combination of its and Ceryx's end-user computing suite of services will accelerate the company's time to market and support the migration of customers to cloud services. Based in Toronto, Ceryx has been a portfolio company of Canadian growth investor Eventi Capital Partners since 2004.
2 min read · 04 April 2016
Canadian real estate technology platform Real Matters Inc has secured an additional $100 million in a private placement deal and equity issue. The raise values the company at $653 million. The investors were not disclosed; however, Urbana Corp (TSX: URB, URB.A) has subsequently announced an increased investment in the company. Backers of prior Real Matters' rounds include Whitecap Venture Partners, Radar Capital and Wellington Financial. Markham, Ontario-based Real Matters also announced that an affiliate of the company has bought U.S.-based title search specialist Linear Title & Closing Ltd for up to US$96 million. With the acquisition, Real Matters reports it generates 95 percent of its revenue in the United States.
3 min read · 04 April 2016
Toronto-based Relay Ventures is one of North America’s most active investors in mobile technologies. Led by Co-founders and Managing Partners John Albright and Kevin Talbot, the firm is currently investing from its US$150 million second fund and is in the process of raising a third. PE Hub Canada sat down with Albright to discuss Relay’s deals, a recent run of lucrative portfolio exits, and emerging trends in the mobile space.
3 min read · 03 April 2016
Slack has raised US$200 million in venture capital financing, boosting its valuation to US$3.8 billion, Reuters reported. Based in San Francisco, Slack makes messaging software for businesses, designed to help teams collaborate and communicate more effectively. The company, which also has an office in Vancouver, was launched in early 2014 by Canadian entrepreneur Stewart Butterfield.
2 min read · 01 April 2016
1 min read · 31 March 2016
Canada’s top 10 first-quarter venture-capital financings drew more than $416 million from investors, more than double the $191 million that went into the top 10 deals a year earlier. That estimate is based on a PE Hub Canada list of the largest disclosed financings announced between January and March. It has been compiled in advance of the broader VC market reports expected in coming weeks from the Canadian Venture Capital & Private Equity Association and Thomson Reuters.
3 min read · 31 March 2016
