Private Equity
New York-based Venrock has raised $400 million for Venrock Healthcare Capital Partners III, the firm's public and cross-over biotech fund. Venrock raised $200 million for the prior fund in 2014 and $450 million for its eighth main fund in 2016. The cross-over fund is led by Bong Koh and Nimish Shah, according to a regulatory filing.
1 min read · 23 April 2018
Canadian private investment firm MacKinnon, Bennett & Co (MKB) has closed MKB Partners Fund LP at over $50 million in committed capital. MKB said the fund exceeded its target due to commitments from Bennett Church Hill Capital, a co-founder of MKB, BDC Capital, Fonds de solidarité FTQ, McConnell Foundation and the firm, as well as a group of family offices, foundations and accredited investors. The fund will invest growth capital in companies in the clean energy, smart city and transportation sectors. It has already deployed about $20 million to four companies, including Miovision Technologies Inc, which raised $30 million in an MKB-led round in 2015.
4 min read · 23 April 2018
Business Development Bank of Canada (BDC) has invested a total of $40 million in four Canadian clean technology companies. The investments, made from a $700 million program launched by the federal government in January, backed Ensyn Technologies, an Ottawa-based converter of forest residues into heating fuels; GreenMantra Technologies, a Brantford, Ontario-based converter of waste plastics into specialty polymers and other specialty chemicals; GHGSat, a Montréal-based maker of a satellite that measures greenhouse gas emissions, and; Enlighten Innovations, a Calgary-based developer of technology for desulphurizing heavy oils.
4 min read · 23 April 2018
Ardian has agreed to sell Kallista Energy Investment to Boralex. Financial terms weren't announced. Kallista, of Paris, is a producer of wind energy.
3 min read · 20 April 2018
Samsara BioCapital has raised $310 million for a venture-capital fund, according to a filing with the SEC.
1 min read · 20 April 2018
Data Collective is raising a $250 million biotech fund, according to a filing with the SEC.
1 min read · 20 April 2018
JPMorgan Chase & Co has tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms, seeking to streamline origination, settlement, interest rate payments and other processes, Reuters reported. The test this week mirrored the Canadian bank’s US$150 million offering of a one-year floating-rate Yankee certificate of deposit. The platform was built over more than a year using Quorum, a type of open-source blockchain that JPMorgan has developed in-house and is in discussions to spin off.
2 min read · 20 April 2018
Montréal-based medical device company SoundBite Medical Solutions Inc earlier in April raised $19.9 million in a Series A financing and said it may secure more funding in a second tranche this quarter. New and existing investors backed the round, among them Fidelity Investments Canada. Founded in 2015, SoundBite is a developer of shock wave technology to address clinical needs in interventional vascular treatment. It will use the funds raised to prepare for a commercial launch in Europe and clinical testing and development priorities. Along with the Series A round, the company announced the appointment of Francis Bellido as CEO.
4 min read · 20 April 2018
Contessa Health said April 19 that it raised additional financing. Terms were not disclosed. Health Velocity Capital led the round while BlueCross BlueShield Venture Partners, Noro-Moseley Partners, and Sandbox Advantage Fund participated. Contessa, of Nashville, provides a health informatics platform for home recovery care.
3 min read · 20 April 2018
The venture capital firm aiming to bring more U.S. startups to Russia has raised a $200 million fund, hoping to use the fresh pool of money to help Silicon Valley companies deliver their services to Russia’s biggest corporations and its millions of consumers.
2 min read · 19 April 2018
