Private Equity
Organica Water Inc, a provider of innovative solutions for wastewater treatment and recycling, has secured US$9.1 million in Series C financing, with a second tranche to follow. The round was led by Canadian growth equity firm XPV Capital Corp and was joined by Idinvest Partners, International Finance Corp and Gamma Capital Partners. Organica, which is based in Princeton, New Jersey, said the latest investment will allow the company to strengthen its balance sheet, undertake the delivery of wastewater solutions to larger and more complex projects, and invest in an online platform. As part of the deal, XPV Managing Director Khalil Malouf will join Organica's board of directors.
6 min read · 21 July 2015
JUST EAT Canada, an affiliate of JUST EAT Group (LON: JE), has bought Orderit.ca, a food ordering and delivery platform based in Toronto. The financial details of the transaction were not released. JUST EAT, which is headquartered in London, said the acquisition will give it added reach and resources to provide food delivery and takeout options in Canada. The company acquired Edmonton's Delivery Town last November. Founded in 2000, JUST EAT went public in 2014, but remains a portfolio investment of Index Ventures, Redpoint Ventures and Vitruvian Partners.
3 min read · 20 July 2015
BEST Funds, a Canadian venture capital and private equity firm, has made a $3 million investment in GroupBy Inc, a Toronto-based provider of commerce, media and knowledge management software solutions that help businesses better connect with their customers. GroupBy, which was founded in 2013, said the proceeds of the deal will allow it to accelerate sales growth. The company will also focus on expanding innovative efforts targeted to business-to-consumer and business-to-business e-commerce markets. GroupBy has regional offices in the United States, China and Trinidad and Tobago.
3 min read · 20 July 2015
Canadian clinical-stage oncology specialist ProNAi Therapeutics Inc has announced the pricing of its initial public offering of common shares on the NASDAQ Global Market. The company, which expects to begin trading under the symbol "DNAI" this week, is seeking US$138 million in proceeds, which is up from its previously-disclosed target. Founded in 2004, ProNAi is focused on developing a new class of therapies through its DNA interference platform for patients with cancer and hematological diseases. In 2014, the Vancouver-based company raised US$59.5 million in Series D financing from mostly U.S. venture capital firms, including Vivo Capital, Frazier Healthcare Ventures and OrbiMed Advisors.
2 min read · 17 July 2015
Venture capitalists spent US$17.5 billion on U.S.-based investments last quarter, the National Venture Capital Association said, the most since the final quarter of 2000, Reuters reported. The software sector drew US$7.3 billion of the investments, more than any quarter since the tracking started in 1995. Media and entertainment sector drew the second-largest sum of US$2.7 billion.
1 min read · 17 July 2015
Agtech venture firm Avrio Capital expects to see an outsized return on its investment in a Canadian natural foods producer following the company’s sale to a U.S. private equity firm this week. Manitoba Harvest Hemp Foods sold for $132.5 million, which will give Avrio a nine-fold return on its invested capital, the firm's Managing Director Aki Georgacacos told peHUB Canada.
3 min read · 16 July 2015
Canadian venture capital firm Klass Capital has increased its stake in Docebo SpA, an Italian cloud e-learning solutions provider. After providing US$3 million in funding to the company in February, Klass Capital acquired the shares of angel investor Seeweb, Docebo said. The acquisition's value was not disclosed. Klass Capital Founder and Managing Partner Daniel Klass said the firm plans to commit resources to Docebo's strategy for future mergers and acquisitions. Established in 2005, Docebo reports to having over 800 business-to-business customers in more than 80 countries.
2 min read · 16 July 2015
Sportlogiq Inc, a computer vision technology startup, has received $1.7 million in seed-stage funding. The round was led by Canadian entrepreneur Tim Tokarsky and includes an investment from Mark Cuban, owner of the Dallas Mavericks. They were joined by TandemLaunch, a Canadian technology incubator and existing investor in Sportlogiq, Anges Québec Capital Fund, and 18 angel investors. Led by co-founder and CEO Craig Buntin, the Montréal-based company provides advanced sports analytics to broadcast media and professional teams. It plans to used its latest financing to continue development and commercialization of its player tracking and analytics platform.
3 min read · 15 July 2015
Activity in Canada’s venture capital market continued to grow in Q2 2015, according to a preliminary report by Thomson Reuters. The report showed $538 million of VC invested in 90 financing rounds between April and June, the highest level of second-quarter disbursements since 2005. The twelve months ending June 30th saw a total of $2.6 billion invested, the strongest four consecutive quarters since 2002. In contrast, activity in Canada's buyout and related private equity market fell short in the second quarter, with $1.7 billion invested in 61 transactions, the report showed. However, PE deal-making during the first half of the year, reflecting a total of $7.5 billion in disclosed values, was on pace to exceed investment levels of three of the past four years.
2 min read · 15 July 2015
Crew has secured $10 million in Series A financing, bringing its total investment to $11 million. The round was led by U.S. venture capital firm Accomplice, formerly known as Atlas Venture, with participation from iNovia Capital, Real Ventures, Boldstart Venture Capital, BDC Capital, AngelList, Launch Capital and LDV Capital. Based in Montréal, Crew helps designers and developers connect with project owners that need a website, mobile app or related work done. Since it was founded two years ago, more than $18 million in contracts have been posted to its marketplace, the company said. Crew plans to use the proceeds of the Series A round to grow its team and further develop its platform.
4 min read · 15 July 2015
