Private Equity
Merck Canada is providing $4 million in financing to the Institute for Research in Immunology and Cancer – Commercialization of Research, a non-profit organization with a mandate to accelerate the discovery, development and commercialization of novel drugs in oncology, immunology and related indications that originate from the Université de Montréal.
6 min read · 29 April 2013
Canadian venture capital firm GrowthWorks announced that share values of its Working Opportunity Fund (WOF) could increase 20% partly as result of the CA Technologies Inc.'s planned acquisition of WOF portfolio company Layer 7 Technologies Inc. GrowthWorks has determined to extend the close of WOF sales and redemptions to allow time for the transaction to conclude. Vancouver-based Layer 7 got its start from funding provided by WOF, BDC Venture Capital and Shoreline Ventures.
4 min read · 25 April 2013
Toronto-based NewMindsets Inc., an e-learning company, has been acquired by Waterloo's ClevrU Corp. for an undisclosed sum. Founded and developed by Schulich School of Business professors at York University, NewMindsets was supported by MaRS Innovation in collaboration with Innovation York in its commercialization, company introductions and transaction negotiations.
3 min read · 25 April 2013
Toronto-based MaRS Innovation, a commercialization agent for Ontario's discovery pipeline from academic institutions, has formed a strategic partnership with pharmaceuticals company Pfizer Inc. intended to advance early-stage technologies related to human health in therapeutics and diagnostics. MaRS and Pfizer will jointly identify opportunities emerging from scientific research discoveries within MaRS Innovation's 16 member institutions, including the University of Toronto.
3 min read · 22 April 2013
Anges Québec (AQ), a network of 120 private investors that identifies, finances and coaches high-growth Québec companies, has formed a three-year partnership with the National Bank to support Québec-based entrepreneurship and innovation. The two organizations will provide entrepreneurs with advice to optimize the success of businesses backed by AQ members. AQ's CEO is venture capital professional François Gilbert.
2 min read · 19 April 2013
Azure Capital Partners said it opened a Canadian office in Calgary, Alberta. The San Francisco venture capital firm said it would use the office to evaluate not only local deal flow, but companies in Vancouver, Toronto, and Montréal. Azure's current fund, Azure Capital Partners III, L.P., has received commitments from funds-of-funds Alberta Enterprise and B.C. Renaissance Capital Fund, a crown corporation that is wholly owned by the B.C. Immigrant Investment Fund.
4 min read · 11 April 2013
Scott MacDonald and Whitney Rockley, managing partners of McRock Capital have completed a report examining Canadian venture capital, peHUB Canada has learned. In Canadian Entrepreneurship and Venture Capital 2013, they contend that despite challenges Canada has produced many high-growth technology companies and that "a new breed of entrepreneur and venture capitalist has emerged over the past decade." McRock Capital invests in companies developing industrial data solutions to help established industries operate more efficiently.
1 min read · 05 April 2013
LX Ventures Inc., a publicly-traded technology incubator that launches, integrates and acquires early-stage, high-growth technology companies, recently purchased all of the assets of Weeve Ventures Inc., including the startup company's crowdfunding platform Weeve.it. The terms of the acquisition agreement were not published. The Vancouver, British Columbia-based LX Ventures plans to take Weeve's crowdfunding framework and "re-purpose it for use in other industries that are ready for disruption."
3 min read · 01 March 2013
Toronto-based software development company Sightline Innovation Inc. has acquired COSAM Systems Inc. of Aurora, Ontario, for an undisclosed amount. The stated mission of three-year-old COSAM has been to improve the affordability of modernization of IBM customer systems, including through cloud technologies.
3 min read · 01 March 2013
Enerkem Inc., a Montréal-based developer and producer of renewable fuels and chemicals, closed a C$37 million financing for Enerkem Alberta Biofuels LP, the company's advanced biofuels facility in Edmonton. The investors were Waste Management of Canada Corp. and EB Investments. Since 2002, Enerkem has been backed by Canadian and U.S. venture capital firms, including Braemar Energy Ventures, Cycle Capital Management, Fondaction (CSN), Fonds de solidarité des travailleurs du Québec (FTQ) and Rho Capital Partners.
2 min read · 17 January 2013
