Private Equity
Kinnek, a New York-based online marketplace for small businesses to find suppliers and manage purchasing, has secured US$10 million in a Series A funding round. The round was led by U.S. venture capital firm Matrix Partners with participation from previous backers, including Canadian firm Version One Ventures, as well as CrunchFund, Sierra Ventures, TriplePoint Ventures and several angel investors. Proceeds of the deal will be used to grow Kinnek's marketing and engineering capabilities and fuel its expansion into new industries. The company was founded in 2012.
3 min read · 15 September 2014
Redfall Technologies Inc, which is also known as Vogogo Inc, has completed its amalgamation with capital pool company Southtech Capital Corp (TSX-V: STU.P) and will begin trading on the TSX Venture Exchange under the symbol "VGO". Vogogo, which is a provider of payment services to the cryptocurrency industry and other businesses, raised $8.5 million last month for its going public transaction. The Calgary-based company has been a portfolio investment of Canadian early-stage venture capital firm AVAC since 2013.
5 min read · 15 September 2014
Tom Rand, managing partner at Canadian cleantech venture capital firm ArcTern Ventures, welcomes you to the Anthropocene—a new geological age built by us and defined by climate risk. In this age, Rand makes the case for new thinking on the part of funds and investors to address the facts of climate change. His solution: Put the market economy to work on the problem through a price on carbon.
5 min read · 12 September 2014
Themis Solutions, better known as Clio, appears to be making ample use of the substantial venture capital funding it raised a few months ago. The Vancouver-based startup, a specialist in cloud-based management tools for the legal industry, has made several starry hires of late, including former Google Canada marketing exec Neil Shankman.
2 min read · 11 September 2014
Liquid Light Corp, a U.S.-based developer of technology to make chemicals from carbon dioxide, has raised US$15 million in a Series B financing. Investors in the round included Canadian venture capital firm Chrysalix Energy Venture Capital as well as VantagePoint Capital Partners, BP Ventures, Osage University Partners and Sustainable Conversion Ventures. Funding proceeds will be used to complete Liquid Light's process development at pilot scale, which will help validate the technology and its uses. Chrysalix also participated in the company's Series A round in 2011.
3 min read · 11 September 2014
Tornado Spectral Systems Inc has secured undisclosed funding from venture capital firms BeauVest and Roadmap Capital. The deal, which adds to earlier financing of the company by undisclosed investors, is intended to support Tornado's continued growth in North America and globally. Founded in 2010, Tornado develops tools for measuring the chemical composition and structure of materials in real time for companies in industries such as biomedical, environmental, and security and defense. It is based in Toronto and has an additional office in Ithaca, New York.
3 min read · 11 September 2014
BlackBerry Ltd has acquired a U.K.-based mobile technology start-up whose software allows users to have multiple phone numbers on the same device, Reuters reported. The purchase of Movirtu helps BlackBerry ramp up its portfolio of services to cater to the needs of its core base of corporate and government clients. Movirtu is a portfolio company of British venture capital firm TLcom Capital and the U.S.-based Gray Ghost Ventures.
3 min read · 11 September 2014
Canadian investment and merchant banking firm Pinetree Capital recently acquired up to 14.3 percent of the issued and outstanding common shares of Enerdynamic Hybrid Technologies. MCM Capital One Inc, a capital pool company, bought Enerdynamic in a reverse takeover earlier this month. Based in Welland, Ontario, the company is focused on traditional commercial and utility scale solar projects in North America and elsewhere around the world.
2 min read · 10 September 2014
Canadian venture capital firm Chrysalix Energy Venture Capital has announced that Stefan Heck will join its industry advisory board. Heck, who was a senior partner and co-founder of the cleantech and sustainability transformations practice at McKinsey & Co and is currently a professor at Stanford University, will advise Chrysalix and its portfolio companies on investment and business strategies. Based in Vancouver, Chrysalix invests in breakthrough sustainable innovations for energy-intensive industries.
3 min read · 10 September 2014
The Canada Media Fund (CMF), which supports companies that promote Canadian creative content, is partnering with BDC Capital, an affiliate of the Business Development Bank of Canada (BDC), to increase the funding available to project commercialization in the digital media industry. Under this arrangement, BDC will provide eligible ventures in gaming and software with a convertible note worth $150,000 to complement investments already committed by CMF. One objective of the partnership will be to increase opportunities for these companies to secure additional private sector investments.
3 min read · 10 September 2014
