Private Equity
Axxess Pharma Inc has raised US$2 million in funding through its subsidiary AllStar Health Brands Inc. The investors include Beaufort Capital Partners, the North American agent for U.K.-based Beaufort Ventures, an investment arm of Beaufort Securities. According to the company, the investment will be used to fulfill purchase orders and increase product inventory and marketing efforts. Based in Toronto, Axxess Pharma is a specialty health care products company that offers select medicines, nutritional supplements and over the counter remedies.
3 min read · 31 July 2014
IIX Inc, a Silicon Valley startup with ties to Ontario's Niagara region, recently obtained US$10.4 million in Series A financing. The investment was made by U.S. venture capital firm New Enterprise Associates. The company, which offers a software and interconnection platform designed to enterprises, content providers, cloud providers and other network operators, said it will use the proceeds to grow its team and expand its product roadmap and business development activities. IIX received financing last year from the FedDev Ontario. It also has been funded by the Niagara Angel Network and the Golden Triangle Angel Network.
3 min read · 30 July 2014
Live Love Snack Inc, a Montréal-based smart snack products company, has received a significant investment from BrandProject. The capital, the amount of which was undisclosed, will be used to accelerate the expansion of Live Love Snack, which was recently founded by Steven Singer, president of Glutino Food Group prior to its acquisition in 2011. As part of the investment, Andrew Black, founder of BrandProject, has joined Live Love Snack's board of directors. With offices in Toronto and New York, BrandProject is a provider of seed capital to disruptive consumer products and technology. The firm raised commitments from BDC Capital and other investors in 2013.
3 min read · 30 July 2014
Inventys Thermal Technologies Inc, a developer of energy- and cost-efficient technology for capturing carbon dioxide from industrial flue gas streams, has secured additional funding. The round, for an undisclosed amount of capital, was backed by Canadian venture capital firm Chrysalix Energy Venture Capital, Chevron Technology Ventures, the venture capital arm of Chevron Corp, Mitsui Global Investment and The Roda Group. Based in Burnaby, British Columbia, Inventys said the deal would help expand its manufacturing and enable the deployment of full-scale systems in late 2016. Founded in 2007, the company has been venture-backed since 2012.
4 min read · 30 July 2014
Israeli private high-tech firms raised US$930 million in venture capital in the second quarter, the highest quarterly amount since 2000, according to the Israel Venture Capital (IVC) Research Center, Reuters reported. In the first half of 2014, 335 Israeli high-tech companies raised US$1.6 billion, an increase of 81 percent from a year earlier, making it the strongest capital raising period on record for Israel's high-tech industry.
2 min read · 29 July 2014
AmorChem has partnered with Swiss drug maker Roche Group (SIX: ROG) in a project to discover a new therapy for treating myotonic muscular dystrophy 1, or Steinert’s disease. The enabling technology was developed by the Université de Montréal's Dr. Pascal Chartrand and was licensed to AmorChem by Univalor, the university’s technology transfer group. Roche, which has an option to acquire an exclusive license at the project's conclusion, will provide support and contribute R&D funding together with AmorChem. AmorChem, a Montréal-based life sciences fund managed by venture capital firm GeneChem, said it may earn up to $107 million from the collaboration.
5 min read · 29 July 2014
BuildDirect.com Technologies Inc has appointed Tal Ball as its first CTO. Previously the senior VP products, technology and content at U.S.-based Gracenote Inc, Ball will lead BuildDirect's innovative efforts to create a smarter, simpler and more empowered home improvement industry, the company said. In early 2014, the Vancouver-based startup raised $30 million in a Series B financing led by U.S. venture capital firm Mohr Davidow Ventures and supported by Canadian investors, including BDC Capital IT Venture Fund.
3 min read · 29 July 2014
Eventi Capital Partners, a Canadian growth investor in software-as-a-service, Internet infrastructure services and medical device sectors, has sold Visualase Inc in a deal that values the company at about US$105 million. The Houston, Texas-based Visualase develops and sells a laser system for minimally invasive neurosurgery. It has been acquired by U.S. medical device company Medtronic Inc (NYSE: MDT), which will pay US$70 million initially plus a possible US$35 million in revenue-based earn-out payments. Eventi first backed Visualase in 2009 and did a follow-on financing round in 2012. As a result of the sale, Eventi said it will earn a multiple of invested capital of about 5.6x.
3 min read · 28 July 2014
Calyx Bio-Ventures Inc (TSX-V: CYX) has agreed to acquire Cannigistics Agri-Solutions Corp, which is designing an enterprise software platform tailored to the medical marijuana industry. Under the terms of the deal, Calyx will buy all of Cannigistics' shares in exchange for 9 million common shares of Calyx. Cannigistics said it aims to become a dominant supply solutions provider to the medical marijuana industry, which is expected to grow to $1.3 billion per year in Canada. Based in Vancouver, Calyx invests in agricultural ventures. It is a portfolio company of BDC Capital Healthcare Venture Fund, one of three sector-specific funds managed by BDC Capital.
4 min read · 24 July 2014
Calyx Bio-Ventures Inc (TSX-V: CYX) has agreed to acquire Cannigistics Agri-Solutions Corp, which is designing an enterprise software platform tailored to the medical marijuana industry. Under the terms of the deal, Calyx will buy all of Cannigistics' shares in exchange for 9 million common shares of Calyx. Cannigistics said it aims to become a dominant supply solutions provider to the medical marijuana industry, which is expected to grow to $1.3 billion per year in Canada. Based in Vancouver, Calyx invests in agricultural ventures. It is a portfolio company of BDC Capital Healthcare Venture Fund, one of three sector-specific funds managed by BDC Capital.
4 min read · 24 July 2014
