Private Equity
Israeli venture capital firm Peregrine Ventures recently sold about 28.2 percent of its shares in Neovasc Inc (TSX: NVC), a Canadian specialty medical device company that develops products for the cardiovascular market. The investment stake in the company was acquired by Fidelity Investments for US$12 million. Peregrine retains more than 71 percent of its holdings in Neovasc, which was previously known as Medical Ventures Corp. In 2008, the latter company acquired Neovasc Medical Ltd and B-Balloon Ltd, two portfolio companies of Peregrine.
2 min read · 03 November 2014
For several months, the rumour mill has been buzzing with speculation that RBC Venture Partners’ principals Robert Antoniades and David Unsworth were on the cusp of launching a new partnership. Well, it has finally happened. In October, the principals completed a buyout of RBC Venture Partners’ investment portfolio and raised LP capital for a brand new Canadian venture capital firm: Information Venture Partners.
3 min read · 03 November 2014
Wesley Clover International is partnering with Invest Ottawa and PARTEQ Innovations to invest in technology startups in Ottawa and Eastern Ontario. Through the federal government's Canada Accelerator and Incubator Program, Wesley Clover and its partners will receive up to $7.7 million in funding over the next five years to provide entrepreneurs in the region with resources to develop their business plan, seek follow-on financing, and establish international markets for their products. Based in Ottawa, Wesley Clover is an angel investment firm.
5 min read · 31 October 2014
Maple Leaf Angels, a group of high net worth individuals who invest in early-stage technology companies, has launched MLA48 LP, a new angel investment fund. MLA48 will focus on providing value-added financing to startups in information, communication and entertainment sectors in southern Ontario. The fund commits to making decisions about prospective investments within 48 hours. Accredited investors that are affiliated with the newly formed Maple Leaf Angels Corp will be able to participate in the fund's investment opportunities. Founded in 2007, Maple Leaf Angels is based in Toronto.
4 min read · 31 October 2014
Brickstream Corp has acquired location analytics company NOMi for an undisclosed amount. Brickstream, an in-store analytics platform based in Atlanta, Georgia, said the transaction creates an integrated business that provides a complete view of customer activity across both digital and in-store channels. Founded in 2000, Brickstream is backed by a number of venture capital firms, including Canada's RBC Venture Partners and the U.S.-based Columbia Capital and Mohr Davidow Ventures. NOMi was also venture-backed.
3 min read · 30 October 2014
Toronto-based comic strip app Bitstrips Inc has received $8 million in Series B funding, a spokesperson for the company confirmed. The investors in this round were U.S. venture capital firm Kleiner Perkins Caufield & Byers and return backer Hong Kong-based Horizons Ventures. The capital infusion will be used for personnel hiring and product development. Update: Founded in 2007, Bitstrips raised $3 million in a Series A financing in December 2013. Horizons invested in that round.
1 min read · 30 October 2014
Solegear Bioplastics Inc, a developer of plant-based plastics for packaging and durable product applications, has secured a venture debt facility with Comerica Bank, a U.S. technology lender. Financial terms of the deal were not released. The company said it will use the funding proceeds to support planned sales growth and deliveries of its products. Based in Vancouver, Solegear is backed by Canadian venture capital firm Yaletown Venture Partners, Best Buy Capital, the investment arm of U.S. retailer Best Buy Co Inc, and a number of angel investors.
3 min read · 30 October 2014
Canadian specialty finance firm Wellington Financial has led a US$25 million venture debt financing of a U.S.-based on-demand software company. The company's identity was not released, however, Wellington indicated that it is backed by a number of Silicon Valley venture capital firms. The Toronto-based firm said it has led approximately US$70 million of growth capital financings to seven U.S. companies in 2014. They include: Operative Media Inc and SOA Software Inc.
2 min read · 29 October 2014
Peraso Technologies Inc has secured $20 million in follow-on financing. The round was led by a new investor, Canadian venture capital firm Roadmap Capital, and was joined by existing investors Celtic House Venture Partners, Ontario Emerging Technologies Fund and VentureLink Funds. Based in Toronto, Peraso is a fabless semiconductor company that provides multi-gigabit wireless connectivity solutions. The company intends to use the new funds to bring all of its WiGig technology into production and to increase its sales and marketing activity. Peraso's $10 million Series A financing was completed in 2009. That deal was led by Celtic House with the participation of iNovia Capital and VentureLink.
3 min read · 29 October 2014
Led Innovation Design, a technology-oriented manufacturer of LED lighting products for professional sports, agricultural and industrial markets, has received a subordinated loan totaling $500,000 from BDC Capital, a division of the Business Development Bank of Canada (BDC). The company, which is currently focused on lighting large professional sports arenas in North America, said the funds will be used to increase its sales force and expand its customer base. Founded in 2009, Led Innovation Design is based in Laval, Québec.
4 min read · 28 October 2014
