Private Equity
Normand Chouinard has been appointed executive vice-president, investments, of the Fonds de solidarité des travailleurs du Québec FTQ. Chouinard, who joined the Fonds de solidarité FTQ in 1998, has since held a number of executive positions at the firm and at the Caisse de dépôt et placement du Québec. Most recently, he was the Fonds de solidarité FTQ's senior vice-president, natural resources, industries and consumer goods, and head of investments. Last month, the Montréal-based firm named Gaétan Morin as its new president and CEO.
3 min read · 21 July 2014
Normand Chouinard has been appointed executive vice-president, investments, of the Fonds de solidarité des travailleurs du Québec FTQ. Chouinard, who joined the Fonds de solidarité FTQ in 1998, has since held a number of executive positions at the firm and at the Caisse de dépôt et placement du Québec. Most recently, he was the Fonds de solidarité FTQ's senior vice-president, natural resources, industries and consumer goods, and head of investments. Last month, the Montréal-based firm named Gaétan Morin as its new president and CEO.
3 min read · 21 July 2014
Ron Dizy, previously head of ENBALA Power Networks Inc and a partner at Celtic House Venture Partners, has been appointed managing director of the Advanced Energy Centre of MaRS Discovery District. The Advanced Energy Centre is a public-private partnership focused on driving the adoption of innovative energy technologies in Ontario and Canada. It works closely with a number of affiliated organizations, including MaRS Cleantech Venture Services and private Canadian venture capital firm ArcTern Ventures, which has invested in several clean technology startups in the MaRS community.
4 min read · 21 July 2014
Ron Dizy, previously head of ENBALA Power Networks Inc and a partner at Celtic House Venture Partners, has been appointed managing director of the Advanced Energy Centre of MaRS Discovery District. The Advanced Energy Centre is a public-private partnership focused on driving the adoption of innovative energy technologies in Ontario and Canada. It works closely with a number of affiliated organizations, including MaRS Cleantech Venture Services and private Canadian venture capital firm ArcTern Ventures, which has invested in several clean technology startups in the MaRS community.
4 min read · 21 July 2014
Innoventé Inc (TSXV: IGE), a Québec City-based provider of technologies for producing green energy from organic residues, has flagged its intention to make a proposal to creditors under the terms of the Bankruptcy and Insolvency Act. The company has retained PricewaterhouseCoopers Inc as a trustee. Innoventé said it believes this process will contribute positively to its efforts of finding stategic and financial partners. The company has in past been backed by a number of equity and debt funders, including the Caisse de dépôt et placement du Québec.
2 min read · 21 July 2014
Trupanion Inc, a pet insurance provider with offices in Seattle and North Vancouver, British Columbia, has priced its initial public offering of 7.125 million shares of common stock at US$10.00 per share. According to a report by Reuters, the company has since raised US$71 million on the New York Stock Exchange under the trading symbol "TRUP." Originally founded in 1998 as Canada-focused company Vetinsurance Inc, Trupanion has been backed by U.S. venture capital firms Maveron and Highland Capital Partners.
2 min read · 21 July 2014
Slyce Inc, a visual search technology platform targeting the retail sector, will commence trading on the TSX Venture Exchange on July 21. The new listing, to appear under the trading symbol "SLC", completes an agreement with Oculus Ventures Corp (TSX-V: OVX) announced in April. As a condition to completing the deal, Slyce closed a private placement financing that raised gross proceeds of $12 million and will be converted into common shares of the company. With offices in Calgary and Toronto, Slyce has been backed by angel investors and venture capital firms since early 2013.
5 min read · 18 July 2014
The Government of Nova Scotia plans to launch a new venture capital fund to augment existing initiatives in the local market. A request for proposals will be issued in the fall to find ideas for creating private and public partnerships to improve access to venture capital for investment in high-growth companies. The government also flagged changes to existing programs, including a more streamlined approach to Innovacorp's early-stage venture capital activity and strengthened business acceleration. The Government of Newfoundland and Labrador earlier in 2014 announced its intention to establish a new provincial venture capital fund.
4 min read · 18 July 2014
Vision Critical Communications Inc has secured $16 million in follow-on financing. The round was led by Canadian venture capital firm Georgian Partners, which earlier this year wrapped up the first close of its second fund, Georgian Partners Growth Fund II. Also participating in the deal were Northleaf Venture Catalyst Fund and Kensington Global Private Equity Fund. Founded in 2000, Vision Critical is a customer intelligence platform that has provided support to more than 650 enterprises around the world. Based in Vancouver, it is also backed by Difference Capital Financial, OMERS Ventures, TELUS Ventures and Wellington Financial. Vision Critical co-founder Angus Reid last month stepped down as the company's executive chair.
3 min read · 17 July 2014
Canadian businesses have yet to capitalize on market opportunities presented by "The “Internet of Things” (IoT), or machine-to-machine technology. That is the finding of a new study by International Data Corp (IDC) and sponsored by TELUS Corp. IDC found that only 6 percent companies in Canada have implemented an IoT program, and that another 7 percent are preparing to deploy in 2014. IDC said that the technology is on the cusp of rapid growth, however, with an additional 30 percent of businesses intending to deploy over the next two years. Annual IoT spending in Canada is also predicted to grow to $21 billion by 2018.
6 min read · 17 July 2014
