Private Equity
New Brunswick Innovation Foundation (NBIF) has invested $200,000 in TurboPlay, a Fredericton-based developer of a video game marketplace. The investment was part of an undisclosed round that also included several angel investors. Founded in 2018 by CEO and co-CTO Vince McMullin, COO John Nguyen, co-CTO Royal O'Brien and CMO Lisa Weeks, TurboPlay is building a personalized marketplace for independent game players and developers to sell their digital games and related downloadable content. It will use the round's proceeds to hire developers and customer support staff and for enhanced sales and marketing efforts.
3 min read · 10 June 2019
Ascend Ventures has set out to raise an initial venture-capital fund, according to a filling with the SEC.
1 min read · 10 June 2019
Privateer Holdings has agreed to merge with portfolio company Tilray Inc (Nasdaq: TLRY), a Nanaimo, British Columbia-based cannabis researcher, cultivator, producer and distributor. The deal will see Privateer, which holds 75 million Tilray shares, or a 77 percent stake, become a subsidiary of Tilray through a share exchange. Tilray shares distributed as a result of the merger will be subject to a lock-up, allowing for their sale only under certain circumstances over a two-year period. Privateer, a U.S. cannabis private equity firm backed by Silicon Valley investor Peter Thiel, is Tilray's founding investor. The company went public last year, raising US$153 million.
4 min read · 10 June 2019
Desjardins Group has launched a $45 million strategic financial technology fund. The fund, managed by Desjardins Capital, the Canadian financial co-operative's private investment arm, will invest in businesses that use innovative models to address existing or emerging issues. The fund has already made a first undisclosed investment, backing X-Telia, a Longueuil, Québec-based wireless network operator serving businesses and cities that require secure, long-range, low-power and low-cost connectivity. The investment's proceeds will allow X-Telia to grow its network across rural Québec and help La Coop fédérée modernize its practices.
3 min read · 10 June 2019
Kalamazoo, Michigan-based Vestaron, a developer of peptide-based biopesticides, has secured $40 million in Series B Financing. Novo Holdings A/S led the round with participation from Anterra Capital, Cultivian Sandbox, Open Prairie Ventures and Pangaea Ventures.
1 min read · 10 June 2019
Cleveland-based Splash Financial, a student loan refinancing company, has secured $4.3 million in funding. CMFG Ventures led the round with participation from Northwestern Mutual Future Ventures.
1 min read · 10 June 2019
Getaway, a wellness hospitality company, has raised $22.5 million in Series B funding. Starwood Capital Group led the round with participation from other investors that included L Catterton.
1 min read · 10 June 2019
McRock Capital has led the Series B financing of Decisive Farming Corp, an Irricana, Alberta-based farm management software provider. The undisclosed round was joined by Export Development Canada (EDC). McRock, a Canadian industrial internet-of-things venture capital firm, also led the company's $6 million Series A financing in 2016. Founded in 2011 and led by CEO Remi Schmaltz, Decisive Farming provides precision agriculture and data analytics in an integrated platform to help increase the profitability, sustainability and technology ease-of-use of farmers. It will use the funds raised for growth through acquisitions, an enhanced sales team, and deployment of technologies including artificial intelligence.
3 min read · 10 June 2019
Alkami, a provider of cloud-based digital banking solutions to banks and credit unions, has raised $55 million in Series E funding. General Atlantic led the round with participation from other investors that included MissionOG, S3 Ventures and Argonaut Private Equity.
3 min read · 10 June 2019
Immedis, a provider of enterprise technology solutions for global payroll and mobility tax services to multinationals, has secured 25 million euros in funding. The investor was Scottish Equity Partners.
1 min read · 10 June 2019
