Private Equity
Bubl Technology Inc, the Canadian creator of a 360-degree consumer camera, has raised $4.6 million in seed-stage financing. The round was led by Samsung Ventures and J-Tech Capital and was joined by other strategic investors. Bubl, which is based in Toronto, has developed a camera that allows users to capture and share fully spherical photos and videos. It said it will reorganize to enable further capital growth and respond to demand following its first production. The company was founded in 2011 by Sean Ramsay, who will leave the post of CEO to focus on product vision and technology. Current VP of hardware Dan Mills will serve as interim CEO.
3 min read · 02 September 2015
FineLine Technologies Inc has acquired Source ID Inc, a Montréal-based provider of product identification systems and service bureau solutions to Canadian retailers and brands. The financial details of the transaction were not released. FineLine said the acquisition will give it the infrastructure to provide web-based price ticketing solutions in Canada. Headquartered in Atlanta, Georgia, FineLine is a portfolio company of U.S. growth investor Chicago Growth Partners and venture capital firm Triangle Peak Partners.
2 min read · 01 September 2015
Spacefy, an online marketplace for connecting creative people, announced it is seeking to raise funding through a retail private equity platform established by Waverley and InvestX Capital. Toronto-based Spacefy plans to list on the platform on September 1st to raise $250,000 of seed-stage financing from a database of accredited investors. It is the first early-stage company to initiate fundraising via the platform, Spacefy said. Founded in August 2014, the startup gives creative people access to unique and underutilized spaces to fulfill their projects, productions and classes.
3 min read · 31 August 2015
CareGuide has bought CanadianNanny.ca, an online job posting service focused on assisting Canadian families to find a nanny, babysitter, adult caregiver, housekeeper or pet sitter. The deal's financial terms were not disclosed. Founded in 2002 by President Martha Scully, CanadianNanny.ca has offices in Toronto, Calgary, Vancouver and Nanaimo, British Columbia. CareGuide, which is based in Toronto, operates a number of online care services. It is a portfolio company of Canadian venture capital firm iNovia Capital and other investors. Earlier this year, the startup received $1 million in financing from RBC's Knowledge Based Industries (KBI) group.
2 min read · 31 August 2015
Mark McQueen, president and CEO of Wellington Financial, sees opportunity for private debt providers as a result of volatile public markets, especially if continued uncertainty creates challenges for technology ventures seeking risk capital. The potential for more cautious equity deal-makers may open doors to alternative capital sources, including innovation-focused lenders like Wellington.
3 min read · 28 August 2015
Canadian venture capital firm McRock Capital has closed McRock iNFund LP at more than $65 million in committed capital. The closing, which reached the top end of the fund's target, was enabled by a commitment from HarbourVest Canada Growth Fund, a venture fund of funds initially capitalized in April. HarbourVest joined existing investors, including Alberta Enterprise Corp, BDC Capital, Cisco Investments, Export Development Canada, Électricité de France, Kensington Venture Fund and Teralys Capital Innovation Fund. As reported by peHUB Canada last month, the fund will target opportunities to leverage industrial Internet software and sensor solutions that can create new capabilities for key industries.
3 min read · 28 August 2015
The Caisse de dépôt et placement du Québec has appointed Michèle Boisvert as its new executive vice-president, business outreach. Boisvert, who formerly led public affairs and communications strategies at the Caisse, will oversee the pension fund manager's recent entrepreneurial initiatives, including Espace CDPQ, a hub created in May 2015 to focus on the innovation and globalization of Québec businesses. Boisvert will be responsible for implementing entrepreneurial priorities in all regions of Québec and supporting the Caisse's investment teams.
2 min read · 28 August 2015
Canadian cloud management platform AirVM has raised $8 million in a Series A financing led by RHO Canada Ventures. RHO was joined in the round by Build Ventures, a new investor, and Wesley Clover International, an existing backer of the startup. AirVM, which has its headquarters in Ottawa, will use the proceeds of the deal to meet global demand for its cloud enablement software, AirSembly, and to expand into new markets, new cloud services and new platform technologies. Founded in 2008 by CEO Joshua Vautour, the company has over time facilitated transactions by thousands of service providers, re-sellers and customers.
4 min read · 27 August 2015
Web presence analytics software provider gShift Labs Inc has agreed to buy SiteCondor, an Austin, Texas-based developer of website auditing tools for digital agencies and content marketers. The value of the acquisition was not disclosed. Toronto-based gShift said the deal will bolster its technology platform and provide additional benefits to digital marketers. Founded in 2009, gShift's insight data and software have been used by more than 10,000 brands in 24 countries. The company has received funding from several Canadian venture capital firms, including Brightspark Ventures, GrowthWorks and the MaRS Investment Accelerator Fund (IAF).
3 min read · 27 August 2015
EDF Renewable Energy has bought OwnEnergy Inc, a wind energy developer headquartered in Brooklyn, New York. The financial details of the transaction were not disclosed. EDF, a U.S. independent power producer, said the deal will provide it with talent and resources to help expand development opportunities. Founded in 2005, OwnEnergy has grown a pipeline of 29 locally-supported wind farm partnerships across the United States. It has been backed by several venture capital firms and other investors. They include EnerTech Capital, an energy and power-focused investor with offices in Toronto, Calgary, Montréal, Philadelphia and Menlo Park.
4 min read · 26 August 2015
