North America

Radical Ventures unveils $350 mln AI-focused fund

Radical Ventures has launched a $350 million fund focused mostly on artificial intelligence. The fund's limited partners include Canada Pension Plan Investment Board, the Public Sector Pension Investment Board, TD Bank Group and Wittington Investments Limited.

AP Ventures backs Greyrock

Sacramento-based Greyrock Energy Inc, a provider of small scale gas-to-liquids technology, has raised an undisclosed amount of funding. The investor was AP Ventures.

Precise dosage vaporizer Indose locks in $3.5 mln Series A

Indose, a precise dosage vaporizer, has raised $3.5 million in Series A funding. Casa Verde Capital led the round.

Repair Biotechnologies procures $2.15 mln seed

Syracuse, New York-based Repair Biotechnologies Inc has secured $2.15 million in seed funding. Jim Mellon, the billionaire investor and chairman of Juvenescence Ltd, led the round with participation from Emerging Longevity Ventures, Thynk Capital and SENS Research Foundation.

K-Zen Beverages rakes $5 mln seed

Burlingame, California-based K-Zen Beverages, a maker of cannabis-infused drinks, has secured $5 million in seed funding. The investor was DCM.

GV leads Series A round for Verve Therapeutics

Cambridge, Massachusetts-based Verve Therapeutics, a next-generation cardiovascular company, has raised $58.5 million in Series A funding. GV led the round with participation from ARCH Venture Partners, F-Prime Capital and Biomatics Capital.

Board management platform Boardable inks $1 mln seed

Indianapolis-based Boardable, an online board management platform, has secured $1 million in seed funding. The investor was High Alpha Capital. In conjunction with the funding, Eric Tobias, a partner at High Alpha, will join Boardable's board of directors.

Tourlane snags $47 mln

Berlin-based Tourlane, a planning and booking service for trips, has secured $47 million in funding. Sequoia and Spark Capital led the round with participation from DN Capital and HV Holtzbrinck Ventures.

CPPIB, PSP anchor launch of Radical Ventures' $470 mln AI fund

Radical Ventures, a Canadian venture capital firm focused on artificial intelligence (AI), has launched a new fund with a target of about $470 million (US$350 million). The fund's cornerstone limited partners include Canada Pension Plan Investment Board (CPPIB), Public Sector Pension Investment Board (PSP Investments), TD Bank Group and Wittington Investments Ltd. Radical was founded in 2017 by Jordan Jacobs, Tomi Poutanen, Benji Sucher and Maks Volkovs, previously executives with Toronto-based AI startup Layer 6, acquired in 2018 by TD. Radical's new fund will make early-stage and growth investments in mostly Canadian companies developing AI products or applying AI to create a competitive advantage in large markets.

Evolving together: the latest trends in co-investments

Co-investment transactions have become a staple of today’s private equity landscape. A strong private equity market has helped fuel co-investment activity as co-investors look to increase their exposure on a reduced-fee basis and sponsors look to attract additional capital to access larger deals. In a PE Hub Canada feature article, Torys LLP Partners Guy Berman and Stefan Stauder, Counsel Jamie Becker and Senior Associate Sophie Courtois discuss the latest trends in the co-investment market with a focus on fee terms, dedicated co-investment vehicles, co-investment timing and stapling.