Private Equity
GreenSky Accelerator Fund I LP, a venture capital fund recently launched by Canadian boutique finance advisory firm GreenSky Capital, has closed an undisclosed seed investment in Cyclica Inc. Cyclica, which is based in Toronto, provides computational analysis technology focused on making better and safer pharmaceutical drugs, nutraceuticals ingredients, and personal care products. The company may receive additional funding from the GreenSky President’s Club and other co-investors. Founded in 2013, Cyclica is a client of the RIC Centre, an entrepreneur and innovation hub for the Mississauga, Brampton and Caledon regions of Ontario.
3 min read · 12 August 2015
Canadian private investment firm Manitex Capital has acquired a 44 percent equity interest in Ortho Regenerative Technologies Inc (Ortho RTi), a Kirkland, Québec-based biotechnology company that develops medical devices for unmet needs in the orthopedics market. The transaction is comprised of a $500,000 equity investment and a $240,000 credit facility. Ortho RTi this week agreed to acquire and develop a platform technology for the repair and regeneration of damaged joints, including the knee and shoulder, from Québec innovation hub Univalor and Polytechnique Montréal.
3 min read · 12 August 2015
C2FO, a working capital exchange, has raised US$40 million in an equity funding round led by Singapore-based investment firm Temasek. The deal follows a series of financings completed by C2FO since 2011, which have been backed by a mix of investors. They include Summerhill Venture Partners, a Canadian venture capital firm, as well as Union Square Ventures, OPENAIR Equity Partners, Mithril Capital and Tiger Global. Headquartered in Fairway, Kansas, C2FO operates a global marketplace that helps businesses optimize their working capital positions. It was founded in 2008.
3 min read · 11 August 2015
PHEMI, a big data platform designed for healthcare institutions, has raised a fresh round of financing to bring its technology to a wider array of enterprises and industries. The Vancouver-based startup announced today that it has secured $12.2 million in a Series A round co-led by Canadian venture firms CTI Life Sciences and Discovery Capital, and joined by existing investors BDC Capital and Yaletown Venture Partners.
3 min read · 11 August 2015
CENX Inc, a software company delivering service orchestration solutions for software-defined and virtualized networks, has secured $12.5 million in Series D financing. New investors in the round included Canadian venture capital firms BDC Capital and Mistral Venture Partners and U.S.-based VMware. They joined existing backers Highland Capital Partners, Mesirow Financial Private Equity, Verizon Ventures, Ericsson, DCM Ventures and Cross Creek Advisors. CENX, which is based in Ottawa, said the investment will accelerate its expansion in the global lifecycle service orchestration (LSO) market. Founded in 2009, the company also has operating offices in Hoboken, New Jersey and London.
4 min read · 11 August 2015
Toronto and San Francisco-based Digital Retail Apps, the maker of mobile solution SelfPay, has secured $1 million in funding. The round was led by U.S. venture capital firm Texas Ventures with participation from U.S. angel investors. Digital Retail Apps, founded in 2011 by CEO Wendy MacKinnon Keith, saves shoppers time by skipping the checkout line and allowing them to use their smart phone to scan in-store items, build a shopping cart, and pay in-app using a range of payment methods. It said the financing's proceeds will help bring SelfPay to large merchants on a global scale.
4 min read · 10 August 2015
GreenAngel Energy Corp, a revenue-based financing firm focused on technology and industrial sectors, has appointed Michael Walkinshaw as its new CEO. Walkinshaw, who has been a director of GreenAngel since 2014, is a managing partner at Fronterra Ventures, and previously served as CFO at Chrysalix Energy Venture Capital. Canadian angel and entrepreneur Michael Volker will serve as GreenAngel's executive chairman. The Vancouver-based firm recently completed a revenue-based financing transaction with Lambda Solutions Inc.
3 min read · 10 August 2015
Medford, Massachusetts-based Sentien Biotechnologies Inc, which develops cell-based therapies for acute organ failure, has raised an undisclosed amount of Series A funding. The investors were Boehringer Ingelheim Venture Fund (BIVF) and Portage Biotech Inc, a Toronto-based developer of pharmaceutical and biotech products. In addition to the funding, Dr. Martin Heidecker, a managing director at BIVF and Dr. Greg Bailey, chairman of Portage, have been added to Sentien’s board of directors.
4 min read · 07 August 2015
Lambda Solutions Inc, a provider of e-learning technology and open-source learning management systems, has raised $1 million in revenue-based financing. The investment, which will be made in two tranches, came from GreenAngel Energy Corp. In exchange for the funds, GreenAngel will receive a monthly royalty on gross revenue until a defined maximum amount has been reached. The Vancouver-based Lambda will use the proceeds of the transaction to expand sales capabilities and continue product expansion. Founded in 2002, the company is led by CEO Shevy Levy.
3 min read · 06 August 2015
Illumina Inc (Nasdaq: ILMN) has agreed to buy GenoLogics Life Sciences Software Inc, a Canadian developer of laboratory information management systems for life sciences organizations. The financial terms of the deal were not published. Immunia said the purchase will strengthen its portfolio of genetic analysis solutions. Headquartered in Victoria, British Columbia, GenoLogics' technology has been adopted by over 120 genomic labs worldwide. Founded in 2002, it has raised over US$20 million in funding, according to Thomson Reuters. GenoLogics' investors include Canadian venture capital firms GrowthWorks and Yaletown Venture Partners and U.S. firm OVP Venture Partners.
3 min read · 06 August 2015
