Private Equity
Debra Coy has joined Canadian water-focused private equity and venture capital firm XPV Capital as a partner. Coy, who has since 2010 been a member of XPV's strategic advisory board, previously worked as a U.S.-based research analyst covering the water sector and as a consultant providing strategic advisory services for investors, companies and municipal utilities. She will in her new role support XPV's activity in market development and deal flow, and help it expand its network of relationships in the sector.
2 min read · 26 February 2015
The Canadian Venture Capital and Private Equity Association (CVCA) recently launched its annual awards program, which is now open for nomination submissions from CVCA members. The program, which recognizes a variety of accomplishments in the Canadian industry, is focused on four categories: Deal of the Year; Entrepreneur of the Year; the Ted Anderson Community Leadership Award, which is named in honour of Canadian venture capital professional Ted Anderson; and the BDC Innovation Award. Award winners will be announced on May 20th, 2015 at the CVCA’s 2015 conference in Vancouver.
2 min read · 25 February 2015
Canadian venture capital firm AVAC has formed Verdex Capital, an investment arm that will focus on deal opportunities in the agricultural technology sector. The launch of Verdex Capital occurred concurrently with AVAC's partnership with U.S. venture capital firm Finistere Ventures. AVAC said its new investment arm will assist Finistere in the management of its deal, portfolio monitoring and exit activity in the Canadian market.
2 min read · 25 February 2015
CENX Inc, a provider of service orchestration solutions for software-defined networks, has secured an undisclosed amount of follow-on funding. The investors were return backers Highland Capital Partners, Mesirow Financial Private Equity, Verizon Ventures, Ericsson, DCM Ventures and Cross Creek Advisors. Update: CENX, which has offices in Ottawa, Hoboken, New Jersey and London, United Kingdom, said the latest financing round will help it accelerate growth. The company has been venture-backed since its founding in 2009.
2 min read · 25 February 2015
Farmers Edge Inc has bought GranDuke Geomatics Ltd, a geospatial solutions and software development company based in Lethbridge, Alberta. The deal's financial terms were not published. Farmers Edge, which has its headquarters in Winnipeg, is a provider of precision agriculture and independent data management solutions. It said the acquisition will in part provide agricultural technology intellectual property to be incorporated in its decision support tools. Farmers Edge is a portfolio company of Canadian venture capital firm Avrio Capital and U.S. firm Kleiner Perkins Caufield & Byers. Last November, Kleiner Perkins made an undisclosed investment in the business.
3 min read · 25 February 2015
Canadian venture capital firm AVAC has announced a partnership with Finistere Ventures, a U.S. venture capital firm focused on investing in agricultural technology and life sciences sectors. The announcement was made at the first close of Finistere's agricultural technology fund, Finistere II, which is targeted to raise US$150 million. Dr. Michael Raymont, CEO of AVAC, said the partnership is intended in part to leverage R&D investments being made in Canadian universities and institutions and to create more access to talent and ecosystems in the United States.
5 min read · 25 February 2015
Education technology startup MediaCore has obtained $4.5 million in a Series A financing. The round was led by Canadian venture capital firm Vanedge Capital. Mediacore, which has its headquarters in Victoria, British Columbia, has developed a technology platform that puts video learning and sharing tools into the hands of teachers and students. Stuart Bowness, the company's co-founder and CEO, said proceeds of the round will facilitate expansion and allow MediaCore to add to its team. According to Crunchbase, MediaCore has previously received funding from angel investors. Founded in 2011, it also has an office in London, United Kingdom.
2 min read · 25 February 2015
Two Canadian technology companies have secured millions of dollars to expand promising operations in online authentication and business performance monitoring, Reuters reported. Toronto's SecureKey Technologies raised $19 million from existing investors, including Rogers Venture Partners and Blue Sky Capital, while Ottawa's Klipfolio raised $6.2 million in a deal led by new investor OMERS Ventures.
2 min read · 25 February 2015
Comet Biorefining Inc has raised an undisclosed amount of funding. Sofinnova Partners, a French venture capital firm, led the round. Based in London, Ontario, Comet Biorefining is a provider of high-quality, cost-competitive cellulosic glucose technology for applications in renewable biofuels and biochemicals. It said investment proceeds will be used to complete the design of its commercial facility, expand its team and continue to develop commercial partnerships. The company was founded by CTO Dr. Andrew Richard.
3 min read · 25 February 2015
SD Tech Fund, a venture capital fund sponsored by Sustainable Development Technology Canada, has invested $26.8 million in seven Ontario clean technology companies. They are: Grafoid, a sustainable graphene solutions company; OTI Lumionics, an organic light emitting diodes platform; Ranovus, a provider of multi-terabit interconnect solutions; Kelvin Storage, a thermal matrix energy storage company; Polar Sapphire, a producer of high-purity alumina; GaN Systems, a gallium nitride power devices platform; and Ionada, a developer of marine exhaust gas cleaning systems. To date, SD Tech Fund has backed 269 projects with $684 million from the federal government.
10 min read · 24 February 2015
