North America

Foundation Capital wraps up ninth fund with $350 mln

Foundation Capital, a late-stage investor in Uber and a backer of the unicorn Cohesity, announced it has raised $350 million for its ninth fund. The vehicle is slightly larger than Fund VIII, which closed in 2015 at $325 million. Fund IX is led by General Partners Ashu Garg, Charles Moldow and Steve Vassallo. Not a part of the new fund, but still listed as a GP on the firm's website, is Paul Holland, who was a part of the previous fund and is continuing to manage out his investments.

VC-backed Shopify to acquire 6 River Systems

Ottawa-based Shopify, a multi-channel commerce platform, has agreed to acquire Waltham, Massachusetts-based 6 River Systems Inc, a provider of collaborative warehouse fulfillment solutions. The deal is valued at about US$450 million. Orrick advised Shopify on the transaction. The acquisition is expected to close in the fourth quarter of 2019. Shopify's backers include OMERS Ventures, Bessemer Venture Partners, FirstMark, Felicis Ventures, Insight Partners and Georgian Partners.

Alpha Edison taps Angela Sun as COO, partner

Los Angeles-based Alpha Edison, an early-stage venture firm that is seeking to raise $250 million for its second fund, announced it has added Angela Sun as chief operating officer and partner. Sun came over from Bloomberg LP, where she served most recently as Global Head of Strategy and Corporate Development.

Fitness Technologies nabs funding

Fitplan Technologies, a Vancouver, British Columbia and Los Angeles-based mobile fitness platform, has raised US$4.5 million in funding. Corazon Capital and Sam Yagan, co-founder of OKCupid, Sparknotes and former CEO of Match Group, led the round. Other investors included Alex Rodriguez, Lerer Hippeau, Bullpen Capital and Advancit Capital.

Drivetime rides off with $11 mln Series A

Drivetime, a developer of interactive voice games for drivers, has raised $11 million in Series A financing. Makers Fund led the round.

Stash Energy rakes in C$400K

Fredericton, New Brunswick-based Stash Energy Inc, a provider of affordable smart energy solutions, has secured C$400,000 in funding. The investors were The New Brunswick Innovation Foundation and PEI-based Island Capital Partners. The capital infusion will be used for additional product development, testing and market expansion.

PrimaryBid pulls in funding

UK-based PrimaryBid, an online platform connecting publicly listed companies with everyday investors for discounted share issuances, has raised 7 million pounds in funding. Pentech and Outward VC led the round with participation from other investors that included Hambro Perks.

Private Equity Jobs of the Week: CPPIB, Prudential and Ares are hiring

This week’s jobs include associate spots at Livingston Street Capital, CPPIB and Ares.

4BIO Capital collects over $50 mln for second venture fund

4BIO Capital has raised over $50 million for its second venture fund. 4BIO Ventures II is targeting $150 million by the second half of 2020. The fund's backers include family offices and institutional investors. 4BIO Capital focuses on the advanced therapies sector.

HackerOne takes in $36.4 mln

HackerOne, a bug bounty program, has secured $36.4 million in funding, according to a blog post on its site. The investor was Valor Equity Partners.