Private Equity
Fixmo Inc has been bought for an undisclosed sum by Good Technology, a U.S.-based mobile security technology provider. Founded in 2009, the Toronto-based Fixmo specializes in defense-grade mobile device integrity and security applications. Good Technology said it will integrate Fixmo's key products into its platform. The deal also brings closure to a patent infringement lawsuit filed by Good Technology against the company. Fixmo has been backed by a number of Canadian and U.S. venture capital firms, including Horizons Ventures, iNovia Capital, Kleiner Perkins Caufield & Byers, Paladin Capital, Panorama Capital, Rho Canada Ventures, Motorola Solutions Venture Capital and Samsung Venture Investment Corp.
5 min read · 03 June 2014
Kinaxis Inc trimmed the expected offer price of its IPO on Tuesday, in a sign that market demand for the Ottawa-based software company's equity issue may not be as hot as originally expected, Reuters reported. The company, which provides software to help with supply chain operations, now plans to raise $100.6 million, it said in a regulatory filing. The offering is being structured as an IPO combined with a secondary offering from Kinaxis's current investors, HarbourVest Partners, a private equity firm based in Boston, and TechnoCap, a venture capital firm based in Montréal.
2 min read · 03 June 2014
BDC Venture Capital Healthcare Fund, one of three sector-focused funds managed by the Business Development Bank of Canada, has established an advisory board to assist the fund in making investment decisions and driving growth in its portfolio companies. The board members are: Rod Altman, M.D., a physician who previously served at CMEA Capital and Aphelion Capital; Lisa Suennen, managing partner at Venture Valkyrie Consulting LLC; Jordan Shlain, M.D., a physician and founder of Healthloop; Craig Vercruysee, CEO of California Pacific Medical Center; and Stephen Dilly, CEO at Allergen Research Corp.
8 min read · 03 June 2014
TECSYS Inc (TSX: TCS) has bought Logi-D Holding Inc. Under the terms of the previously-announced deal, TECSYS purchased Logi-D's shares for $2.95 million, and $100,000 in common shares of TECSYS. Based in Laval, Québec, Logi-D is a provider of point-of-use technology for supply chain automation servicing healthcare organizations. TECSYS said the acquisition would join two Québec technology companies with complementary product lines, and extend its leadership in healthcare supply chains. Logi-D was backed by Canadian technology investor Telesystem and VCIC, the Canadian investment arm of France's Crédit Mutuel CIC Group.
2 min read · 02 June 2014
GreenAngel Energy has bought a 30 percent interest in CamDo Solutions Inc. The newly formed, Vancouver-based CamDo will launch a global marketing venture specializing in proprietary photographic industry and green technology products, according to an agreement involving GreenAngel, Cam-Do.com LLC of Madison, Wisconsin, and Todd McCann of Brisbane, Australia. The ownership interests of the three founders are shares subject to vesting provisions and dilution pursuant to future investment rounds. McCann also will become the CEO of CamDo. The Vancouver-based GreenAngel is a publicly traded angel fund that invests in emerging green technology companies.
4 min read · 02 June 2014
Benoit Forcier has joined the team at Canadian venture capital firm Cycle Capital Management as partner. Forcier previously served in a number of senior management capacities, including the role of vice president, investment, at Innovacorp and partner at Espresso Capital. Based in Montréal, Cycle Capital invests in companies developing clean technologies, reducing greenhouse gas emissions, optimizing resource use and improving process efficiency throughout a product's life cycle.
3 min read · 02 June 2014
The inaugural BDC Innovation Award was recently given to Montréal’s Mirametrix, a three-year old company that specializes in eye tracking solutions. Mirametrix was singled out for the honour because of its cutting-edge technology, which is changing the way human beings interact with machines. To a significant extent, Mirametrix’s achievement is equally that of its Canadian venture capital backer, the no-less-innovative TandemLaunch.
4 min read · 02 June 2014
Imagistx Inc has closed a $6 million round of financing. The deal, led by Canadian venture capital firm iGan Partners with participation from IAF, Veddis Ventures and additional investors, tops up an earlier round announced last December. Based in Markham, Ontario, Imagistx is the maker of a high resolution ultrasound product that will improve prostate cancer detection and treatment over the current standard of care. It has begun a large-scale clinical trial at five of the leading urology centres in North America, including Johns Hopkins. The new funds will allow the company to clinically validate its product and carry out its corporate strategy.
2 min read · 30 May 2014
Canadian venture capital firm Lumira Capital has formed a new CEO advisory board consisting of five executives from the life sciences industry. The board members are: Maurice Ferré, M.D., former president and CEO of MAKO Surgical Corp; Barry Fishman, former president and CEO of Teva Canada; Paul Lucas, former president and CEO of GlaxoSmithKline Canada; Thomas Wellner, former president and CEO of CML HealthCare Inc; and Theodore Witek, DrPH, former president and CEO, Boehringer Ingelheim (Canada) Ltd. The board will provide strategic input into Lumira’s investment strategy and offer guidance and mentorship to its portfolio companies.
6 min read · 30 May 2014
MolecuLight Inc, developer of a handheld optical imaging platform for point-of-care wound analysis and treatment guidance, has secured $4 million in financing. The round was led by Canadian venture capital firm iGan Partners with the participation of a number of angel investors. Founded by Ralph DaCosta, a molecular imaging scientist at the University Health Network, MolecuLight is based in Toronto. The company plans to use investment proceeds to obtain regulatory approvals in the United States, Canada and Europe, complete key hires and prepare products for full commercialization.
3 min read · 30 May 2014
