Private Equity
GuestLogix Inc (TSX: GXI), a provider of merchandising, payment and business intelligence technology to airlines and the passenger travel industry, has closed a credit agreement of up to $9 million. The sources of the facility are Canadian growth investors Vistara Capital Partners and Beedie Capital Partners, which is managed by Canadian private equity firm Bond Capital. The Toronto-based GuestLogix said the funds will be used for growth initiatives and other purposes. As reported by peHUB Canada last month, Vistara raised $80 million in the initial close of its debut fund, Vistara Capital Partners Fund I LP.
4 min read · 08 June 2015
Montréal-based luxury vacation rentals company Luxury Retreats has secured $11 million in Series B financing. The round was led by Canadian venture capital firm iNovia Capital, which led the company's prior funding in September 2012. Other investors in the latest deal included Claridge Inc, led by Pierre Boivin and Stephen Bronfman, Peter Kern of InterMedia Partners, and Andrew Lufty, CEO of Groupe Dynamite. Founded by President and CEO Joe Poulin in 1999, Luxury Retreats offers travellers a closed network of over 2,800 private homes in 90 destinations around the world and is focused on refining its existing operations and developing opportunities in new markets.
4 min read · 08 June 2015
Canadian e-commerce startup Shop.ca is looking at going public within the next year to take advantage of robust investor appetite for the country's technology sector, its top executive said in an interview with Reuters. The company raised $20 million from strategic and institutional investors in a recent financing round led by Scotiabank, bringing its total fundraising to date to $75 million.
2 min read · 08 June 2015
Celtaxsys Inc, a clinical-stage drug development company focused on developing therapies for inflammatory diseases, has raised US$40 million in a Series D financing. The round was led by U.S. venture capital firm Domain Associates and was joined by several other investors, including Canadian firm Lumira Capital. Celtaxsys, which is headquartered in Atlanta, Georgia, said the proceeds of the round will help fund the company's novel anti-inflammatory Phase Two programs in cystic fibrosis and acne. As a result of the financing, Gerry Brunk, a managing director at Lumira, has joined Celtaxsys' board of directors.
4 min read · 08 June 2015
Profound Medical Inc, a Toronto-based medical device company focused on treatments for prostate cancer, has completed its previously announced going-public transaction via a reverse take-over of Mira IV Acquisition Corp. It is expected to commence trading on the TSX Venture Exchange under the ticker symbol "PRN" on June 8, 2015. The company also wrapped up its previously disclosed private placement, securing gross proceeds of about $24 million. Canadian venture capital firms BDC Capital and Genesys Capital, which committed to the deal, currently hold about 24.9 percent and 23.1 percent, respectively, of Profound Medical's total issued and outstanding shares.
7 min read · 05 June 2015
Kensington Venture Fund, a venture fund of funds managed by Canadian alternative assets investor Kensington Capital Partners, has raised an additional $33 million in its second close. New limited partner Torstar Corp and existing investors, including Richardson GMP, provided commitments, which bring the fund's total to $193 million. Kensington Venture Fund, which is also backed by Ottawa's Venture Capital Action Plan (VCAP), raised $160 million in a first close last November. To date, it has made commitments to six Canadian venture capital funds and direct investments in four Canadian companies. Kensington, which has its headquarters in Toronto, opened a new office in Calgary in April 2015.
3 min read · 04 June 2015
Wirkn, a mobile employment solution targeted to young people, has secured $1.2 million in seed-stage financing. The round, which follows the $400,000 raised by the company last October, was led by Howard Stotland, the founder of STS Systems, and David Henning, a former executive with Epicor Retail. Wirkn also announced that it has recruited former ALDO Vice President Todd Dean to be its new chief marketing officer. With offices in Toronto and Montréal, Wirkn is currently focused on signing up North American retail, restaurant and event venue managers. It said the company now has more than 1,000 locations actively hiring job seekers through the platform.
2 min read · 03 June 2015
MineSense Technologies Ltd, a Canadian provider of real-time, sensor-based bulk ore sorting solutions, has completed a Series B financing. The investment's value was not released. Leading the round was Prelude Ventures, a U.S. venture capital firm focused on climate innovations. Prelude was joined by Export Development Canada, Cycle Capital Management and Chrysalix Energy Venture Capital, which led the company's Series A round in 2013. The Vancouver-based MineSense said it is currently working to commercialize its technology, which is designed to increase resource extraction and metal recovery while reducing costs and environmental impacts.
5 min read · 03 June 2015
Plotly, a Canadian data science technology platform, has secured $5.5 million in venture capital financing. The Canadian and U.S. investors in the round included MHS Capital, Siemens Venture Capital, Rho Canada Ventures, Real Ventures and Silicon Valley Bank. Plotly, which develops highly visual data and analytics through interactive graphs and dashboards, said it plans to use the proceeds of the investment to scale engineering and sales teams. Established in 2013, the company has accumulated more than 200,000 users to date. Plotly has its headquarters in Montréal and offices in San Francisco and Boston.
3 min read · 03 June 2015
Purch, a U.S. integrated digital content and commerce company, has secured US$135 million in a Series C private equity and debt financing round led by Canso Investment Counsel, a Canadian investment management firm with digital and media holdings. RBC Capital Markets acted as the placement agent for the financing. Purch, which was founded in 2003, said the proceeds of the deal will be used for strategic acquisitions to support the company's organic growth. Headquartered in Ogden, Utah, Purch is also backed by U.S. venture capital firms ABS Capital Partners, Highway 12 Ventures and other investors. Canso is based in Richmond Hill, Ontario.
4 min read · 03 June 2015
