Private Equity
A new report by the Canadian Venture Capital & Private Equity Association (CVCA) found venture capital and private equity investment in Canada in the year's first quarter largely held onto gains racked up in 2014. Led by activity in information technology sectors, venture capital disbursements to 121 financings totaled $362 million in Q1 2015, up three percent from the year before. Led in energy and power sectors, private equity deal making also grew in the first quarter, though transactions accounted for reduced values of $5.4 billion. The report also found Canadian private equity funds raised $841 million in new commitments between January and March, while Canadian venture capital funds raised $196 million.
4 min read · 06 May 2015
B-TEMIA Inc has received undisclosed financing from a group of Canadian private investors and the private healthcare fund of Epic Capital Management, a Toronto-based boutique investment firm. Headquartered in Québec City, B-TEMIA is a medical device company that develops human augmentation systems that restore, maintain and enhance human mobility. Founded in 2010 by President and CEO Stéphane Bédard, the founder of Victhom Human Bionics Inc, the company plans to use proceeds of its investment to extend product commercialization and seek U.S. market approval.
3 min read · 05 May 2015
Canadian biotechnology startup Mirexus Biotechnologies Inc has obtained US$3.7 million in a Series A financing. The round was led by Barbados-based Goddard Enterprises Ltd and was joined by investors associated with the GreenSky Presidents Club, which helped to seed the company in 2014. Proceeds of the investment will be used by Mirexus to market its products, to build manufacturing capability, and to enhance its research capability. Based in Guelph, Ontario, the company is commercializing a novel nanotechnology based on polysaccharide nanoparticles that can be used in a range of markets, from cosmetics to nutraceuticals to biomedical applications.
4 min read · 04 May 2015
Northleaf Venture Catalyst Fund, a venture fund of funds managed by Northleaf Capital Partners, has added the Ontario Pension Board to its investor base. With the new commitment from Ontario Pension Board, as well as increased commitments from BDC Capital and the Ontario government, capital committed to the Northleaf fund now totals $264 million. Since its initial close in January 2014, the fund has made commitments to the latest partnerships of Georgian Partners, Golden Venture Partners, Relay Ventures, Versant Ventures, Version One Ventures and XPV Capital. It has also made direct investments in Canadian startups eSentire, FreshBooks, Silanis, Vision Critical and Wattpad.
3 min read · 04 May 2015
Real Matters Inc has secured an additional US$60 million to finance organic and acquisition-based growth. The company, which operates a cloud-based technology platform that provides property intelligence to the real estate lending and insurance markets, said the new funds came from its existing investor syndicate. Real Matters' backers include Canadian venture capital firm Whitecap Venture Partners, which last week raised an initial $70 million for its third fund, Radar Capital, Wellington Financial, and other investors. The Markham, Ontario-based company also announced that it has acquired U.S. home equity service provider Southwest Financial Services Ltd for an undisclosed price.
3 min read · 04 May 2015
Flybits Inc has completed the second close of its Series A financing round, which was reported as having raised $3.75 million in August 2014. The second close, which brought the round's value to $4.75 million in total, was led by Vodafone Ventures, the venture capital investment arm of British mobile carrier Vodafone Group plc. Based in Toronto, Flybits is a software-as-a-service provider that allows consumer-focused enterprises to manage mobile experiences that deliver targeted content and services. Founded in 2012, the company is also backed by Robert Bosch Venture Capital, Trellis Capital Corp and MaRS Investment Accelerator Fund, among other investors.
4 min read · 30 April 2015
Voices.com, an online marketplace that connects businesses with professional voice actors, has secured $2 million in working capital. The investment was made by Growth and Transition Capital, a division of BDC Capital. Voices.com, which has its headquarters in London, Ontario, said the capital will be used to acquire additional space and tools, and to hire more staff to support its continued growth. Founded in 2004 by David Ciccarelli and Stephanie Ciccarelli, the company today serves 125,000 voice professionals and the 125,000 businesses that hire them. Last November, peHUB Canada reported on Growth and Transition Capital's investment strategy and recent deals.
2 min read · 30 April 2015
BEST Funds announced that the board of directors of the BEST Total Return Fund, a late-stage venture capital fund, has approved a proposal to wind up the fund and suspend any new investment activity. A meeting of the fund's shareholders will be asked to vote on the proposal in the summer of 2015. The initiative follows respective decisions of the Ontario and federal governments to phase out tax incentive programs for labour-sponsored venture capital funds.
5 min read · 29 April 2015
In Canada, much like the United States, the talk lately in venture and startup circles is about young tech startups that have reached at least $1 billion in value, writes Venture Capital Journal editor Alastair Goldfisher. Up north, the term some are using for these fast-growing companies is narwhals, which are known as "the Unicorn of the Sea." In fact, Canada is flush with companies and emerging narwhals.
3 min read · 29 April 2015
Northern Biologics Inc, a Canadian biotechnology company founded last year with an investment by U.S. venture capital firm Versant Ventures, has entered into a strategic collaboration with Celgene Corp. As part of the collaboration, Northern Biologics received US$30 million in funding to advance the discovery and development of antibody therapeutics that benefit patients with cancer and fibrosis. Under the deal's terms, the company will have the right to receive additional payments, while Celgene will have options to in-license drug candidates and the right to acquire Northern Biologics upon conclusion of the partnership. Northern Biologics is located in the MaRS Discovery District in Toronto.
3 min read · 29 April 2015
