Private Equity
Perimeter Medical Imaging Inc, a developer of real-time imaging systems for in-surgery tissue assessment, has raised $5 million in a Series A funding. The deal was led by Canadian venture capital firm Roadmap Capital with participation from EPIC Capital, NorthView Ventures and Pathfinder Asset Management. Based in Toronto, Perimeter has created an imaging tool that allows clinicians to visualize the entire perimeter of excised tissue during surgery. It said the Series A round will support completion of a clinical study at Princess Margaret Cancer Centre, product development, and regulatory clearance of its technology. Founded in 2013, the company is led by President and CEO Paul Weber.
3 min read · 23 July 2015
TRACE Live Networks, which earlier this month raised $7 million in a Series B financing, has acquired Draganfly Innovations Inc, a small unmanned aerial vehicle (UAV) systems specialist based in Saskatoon, Saskatchewan. The financial terms of the deal were not disclosed. Cameron Chell, the co-founder and CEO of TRACE, said the acquisition will create new opportunities for growth within the company's existing business and through the integrated applications of Draganfly's UAV technology with TRACE’s visual intelligence tracking platform. Founded in 2014, TRACE has its primary offices in Toronto and Venice, California.
3 min read · 23 July 2015
Northleaf Venture Catalyst Fund, a venture capital fund-of-funds managed by Northleaf Capital Partners, has closed at its hard cap target of $300 million. The fund, which was launched in early 2014 with the backing of Ottawa's Venture Capital Action Plan (VCAP), raised new commitments from Sun Life Financial and several high net-worth and family office investors. Additional money came from existing limited partners, most of them corporate and institutional investors. The fund has already committed 50 percent of its capital to Georgian Partners, Golden Venture Partners, Relay Ventures, Versant Ventures, Version One Ventures and XPV Capital, as well as to direct investments in eSentire, FreshBooks, Silanis, Vision Critical and Wattpad.
3 min read · 23 July 2015
Procurify, a cloud-based procurement management solution, has received US$4 million in seed funding. Investors in the round included Point Nine Capital, Nexus Venture Partners and the Business Development Bank of Canada (BDC). Ryan Holmes and Steve Johnson, CEO and chief revenue officer of Hootsuite, also invested and have become advisors to the Vancouver-based company. Procurify's software-as-a-service platform helps small businesses manage both direct and indirect spending. It said the proceeds of the latest round will be used to invest in sales, marketing and product development.
4 min read · 22 July 2015
BlackBerry Ltd said it is buying privately-held AtHoc, a provider of secure, networked crisis communications, as it moves to broaden its software offering and generate revenue from its BBM messaging service, Reuters reported. Based in San Mateo, California, AtHoc is backed by U.S. venture capital firms Greylock Partners and Intel Capital.
2 min read · 22 July 2015
Damien Steel has been promoted to the role of managing director of OMERS Ventures, the venture capital investment arm of the Ontario Municipal Employees Retirement System (OMERS). Steel, who has been with OMERS Ventures since its inception in 2011, previously served as a director. He currently serves on the board of directors of portfolio companies Fusebill, Klipfolio and Leadsift. Between 2007 and 2011, Steel was a vice president at Edgestone Capital Partners.
2 min read · 22 July 2015
Calgary-based Benevity, a provider of workplace giving and volunteer management software solutions, has closed $38 million in Series A funding. The investor was JMI Equity, a U.S. growth equity firm. As part of the financing, Bob Nye, a general partner at JMI, has been appointed to the company's board of directors. Founded by CEO Bryan de Lottinville in 2008, Benevity has developed a platform that enables companies to engage their employees and customers around social responsibility and community investment. It said the partnership with JMI will help the company to advance the speed, scale and scope of product innovation and service excellence.
3 min read · 22 July 2015
Damon Capital Corp (NEX Symbol: DAM.H), a capital pool company, has agreed to combine with eSight Corp, an Ottawa-based provider of wearable, electronic assistive technology for people with low vision. The transaction, which is subject to the approval of shareholders, will result in eSight achieving a public listing. As part of the deal, the company will complete a brokered private placement offering that raises a minimum of $20 million. Founded in 2006, eSight is backed by Canadian venture capital investors iGan Partners and MaRS Investment Accelerator Fund, as well as a number of angel investors.
10 min read · 21 July 2015
Resverlogix Corp (TSX: RVX) has completed a private placement transaction, raising $50 million in proceeds. The funding came from Chinese strategic investor Shenzhen Hepalink Pharmaceutical Co Ltd and Eastern Capital, a Cayman Islands life sciences investor. As a result of the deal, Hepalink holds about 12.63 percent of the company's common shares, while Eastern holds about 19.57 percent. Based in Calgary, Resverlogix is a developer of treatments for patients with cardiovascular disease and other conditions. It is also a portfolio investment of U.S. venture capital firm NGN Capital.
2 min read · 21 July 2015
Bridgelux, a developer of solid-state lighting technologies, has agreed to be acquired by a group led by China Electronics Corp (CEC) and ChongQing Linkong Development Investment Co. The deal, the value of which was not published, will see Bridgelux operate as a standalone company affiliated with CEC. Bridgelux also plans to spin off its smart lighting platform as a new company, Xenio Corp. Headquartered in Livermore, California, Bridgelux has raised close to US$300 million from investors, according to Thomson Reuters. One of its backers is Canadian venture capital firm Chrysalix Energy Venture Capital.
4 min read · 21 July 2015
