Procurify secures $20 mln in Information VP-led Series B round


This post is by Kirk Falconer from PE Hub Blog: Venture Capital Deals


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Procurify, a Vancouver-based spend management platform, has closed its Series B financing, raising about $20 million. The round was led by Canadian venture capital firm Information Venture Partners. It was joined by Runa Capital, HarbourVest Partners, Manulife and BC Tech Fund, managed by Kensington Capital Partners. Founded in 2012 by CEO Aman Mann, CTO Eugene Dong and CRO Kenneth Loi, Procurify provides software that helps organizations manage their expenditures. The funds raised will be used for new hires, undertaking sales and marketing initiatives, and expanding Procurify’s offering globally.

PRESS RELEASE

VANCOUVER, JUNE 20TH, 2019
Procurify, the leading SaaS-based spend management solution that is being used by fast-growing companies around the globe to help manage their spending, has just announced the closing of its Series B round for $20 million USD. Investors include one of Canada’s largest VC’s – Information Venture Partners, as well as, Runa Capital,

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OPTrust acquires minority stake in Imperial Capital-backed AmeriVet


This post is by Kirk Falconer from PE Hub Blog: PE-Backed Mergers and Acquisitions


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OPTrust has made a minority investment in AmeriVet Veterinary Partners, a San Antonio, Texas-based veterinary clinic management business. Terms weren’t disclosed. AmeriVet is a portfolio company of Imperial Capital Group, a Canadian mid-market private equity firm. Imperial helped launch the company in 2016. AmeriVet acquires majority positions in U.S. veterinary practices and supports their operations.

PRESS RELEASE

SAN ANTONIO–(BUSINESS WIRE)–AmeriVet Veterinary Partners (“AmeriVet”) is pleased to announce that a substantial minority investment has been made in the business by OPTrust, one of Canada’s largest defined benefit pension plans. Imperial Capital Limited (“Imperial”), the company’s majority investor, has also increased its investment. This additional capital will support AmeriVet’s goal of entering into additional partnerships with leading veterinarians across the United States.

AmeriVet’s unique business model of acquiring veterinary practices through a joint venture partnership allows veterinarians to retain a stake in their business, maintain control of day-to-day operations

Continue reading “OPTrust acquires minority stake in Imperial Capital-backed AmeriVet”

OPTrust acquires minority stake in Imperial Capital-backed AmeriVet


This post is by Kirk Falconer from PE Hub Blog: PE-Backed Mergers and Acquisitions


Click here to view on the original site: Original Post




OPTrust has made a minority investment in AmeriVet Veterinary Partners, a San Antonio, Texas-based veterinary clinic management business. Terms weren’t disclosed. AmeriVet is a portfolio company of Imperial Capital Group, a Canadian mid-market private equity firm. Imperial helped launch the company in 2016. AmeriVet acquires majority positions in U.S. veterinary practices and supports their operations.

PRESS RELEASE

SAN ANTONIO–(BUSINESS WIRE)–AmeriVet Veterinary Partners (“AmeriVet”) is pleased to announce that a substantial minority investment has been made in the business by OPTrust, one of Canada’s largest defined benefit pension plans. Imperial Capital Limited (“Imperial”), the company’s majority investor, has also increased its investment. This additional capital will support AmeriVet’s goal of entering into additional partnerships with leading veterinarians across the United States.

AmeriVet’s unique business model of acquiring veterinary practices through a joint venture partnership allows veterinarians to retain a stake in their business, maintain control of day-to-day operations

Continue reading “OPTrust acquires minority stake in Imperial Capital-backed AmeriVet”

Clearspring Capital acquires majority stake in Voyages Traditours


This post is by Kirk Falconer from PE Hub Blog: Buyout Deals


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Canadian mid-market private equity firm Clearspring Capital Partners has acquired a majority interest in Voyages Traditours, a Laval, Québec-based tour operator of curated cultural circuits. Terms weren’t disclosed for the deal, which saw Clearspring acquire a majority of the shares owned by Entrepreneur Capital, a Canadian private equity firm. Entrepreneur, which invested in 2014, will retain a stake, as will CEO Sébastien Forest and Founder Jacques Rodier. Established in 1999, Voyages Traditours designs Francophone-focused travel itineraries in more than 70 countries on five continents.

PRESS RELEASE

CNW Telbec/ – Clearspring Capital Partners (“Clearspring”) announced today its acquisition of a majority interest in Voyages Traditours, a Québec leading group tour operator. The Canadian private equity fund acquired the majority of the shares owned by Entrepreneur Capital. This investment marks another milestone in Clearspring’s investment strategy in Québec.

MONTRÉAL, June 10, 2019 “Since 2015, we have been actively investing in Québec

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Clearspring Capital acquires majority stake in Voyages Traditours


This post is by Kirk Falconer from PE Hub Blog: Buyout Deals


Click here to view on the original site: Original Post




Canadian mid-market private equity firm Clearspring Capital Partners has acquired a majority interest in Voyages Traditours, a Laval, Québec-based tour operator of curated cultural circuits. Terms weren’t disclosed for the deal, which saw Clearspring acquire a majority of the shares owned by Entrepreneur Capital, a Canadian private equity firm. Entrepreneur, which invested in 2014, will retain a stake, as will CEO Sébastien Forest and Founder Jacques Rodier. Established in 1999, Voyages Traditours designs Francophone-focused travel itineraries in more than 70 countries on five continents.

PRESS RELEASE

CNW Telbec/ – Clearspring Capital Partners (“Clearspring”) announced today its acquisition of a majority interest in Voyages Traditours, a Québec leading group tour operator. The Canadian private equity fund acquired the majority of the shares owned by Entrepreneur Capital. This investment marks another milestone in Clearspring’s investment strategy in Québec.

MONTRÉAL, June 10, 2019 “Since 2015, we have been actively investing in Québec

Continue reading “Clearspring Capital acquires majority stake in Voyages Traditours”

VCCI-backed Northleaf Venture Catalyst Fund II closes at C$300 mln


This post is by Kirk Falconer from Pe Hub Blog: Firms & Funds


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Northleaf Capital Partners has closed Northleaf Venture Catalyst Fund II, a fund of funds earmarked for investments in Canadian venture capital funds and technology companies, raising C$300 million. NVCF II, backed by Ottawa’s Venture Capital Catalyst Initiative, closed at its hard cap with the help of institutional, high-net-worth and family office investors. They included BDC Capital, Canada Pension Plan Investment Board, Sun Life and TD Bank Group, which joined the fund’s initial close in December. New money came from Manulife, BMO Capital Partners, clients of BMO Private Bank Asia and others. NVCF II has so far made commitments to Inovia Capital, StandUp Ventures and Versant Ventures. Toronto-based Northleaf is a global private equity, private credit and infrastructure manager.

PRESS RELEASE

TORONTO (June 4, 2019) – Northleaf Capital Partners (Northleaf), a leading global private markets investment firm, is pleased to announce that Northleaf Venture Catalyst Fund II (“NVCF

Continue reading “VCCI-backed Northleaf Venture Catalyst Fund II closes at C$300 mln”

VCCI-backed Northleaf Venture Catalyst Fund II closes at C$300 mln


This post is by Kirk Falconer from Pe Hub Blog: Firms & Funds


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Northleaf Capital Partners has closed Northleaf Venture Catalyst Fund II, a fund of funds earmarked for investments in Canadian venture capital funds and technology companies, raising C$300 million. NVCF II, backed by Ottawa’s Venture Capital Catalyst Initiative, closed at its hard cap with the help of institutional, high-net-worth and family office investors. They included BDC Capital, Canada Pension Plan Investment Board, Sun Life and TD Bank Group, which joined the fund’s initial close in December. New money came from Manulife, BMO Capital Partners, clients of BMO Private Bank Asia and others. NVCF II has so far made commitments to Inovia Capital, StandUp Ventures and Versant Ventures. Toronto-based Northleaf is a global private equity, private credit and infrastructure manager.

PRESS RELEASE

TORONTO (June 4, 2019) – Northleaf Capital Partners (Northleaf), a leading global private markets investment firm, is pleased to announce that Northleaf Venture Catalyst Fund II (“NVCF

Continue reading “VCCI-backed Northleaf Venture Catalyst Fund II closes at C$300 mln”

Canopy Growth acquires Tengram-backed This Works for C$74 mln


This post is by Kirk Falconer from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Canopy Growth Corp has acquired This Works Ltd, a London, U.K.-based provider of natural skincare and sleep solution products. The all-cash deal was valued at C$73.8 million. This Works CEO Anna Persaud will continue to lead the company. Canopy Growth, a Smith Falls, Ontario-based cannabis, hemp and cannabis device business, said the acquisition facilitates its entry into the natural wellness industry and expands its global presence. This Works was backed by Tengram Capital Partners, a U.S. consumer and retail private equity firm. Tengram invested in 2015.

PRESS RELEASE

SMITHS FALLS, CANADA and LONDON, ENGLAND— Canopy Growth Corporation (TSX: WEED, NYSE: CGC) (the “Company” or “Canopy Growth”) has finalized an all-cash transaction to acquire This Works for a purchase price of £43 million (CDN $73.8 million). Founded in 2004, This Works has cemented itself as a global leader in natural skincare and sleep solutions

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Silversmith Capital invests $71 mln in growth of PDFTron Systems


This post is by Kirk Falconer from PE Hub Blog: Buyout Deals


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PDFTron Systems, a Vancouver-based document processing technology company, has secured a $71 million investment from U.S. growth equity firm Silversmith Capital Partners. Silversmith’s Jim Quagliaroli and Sri Rao have joined the board. Debt financing was provided by THL Credit. Founded in 1998 and led by CEO Catherine Andersz, PDFTron provides a software development kit that enables document processing, conversion and collaboration by enterprise customers in a range of industries.

PRESS RELEASE

VANCOUVER, British Columbia — PDFTron Systems, a leading provider of document processing tools for software developers, announced today that it has secured a $71 million investment led by Silversmith Capital Partners, a Boston-based growth equity firm. PDFTron’s market-leading software development kit (SDK) is used by hundreds of enterprise customers around the world to enable digital transformation initiatives by providing a comprehensive document processing, conversion, and collaboration platform. This investment comes as the company has experienced substantial growth,

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Canopy Rivers invests in BioLumic’s $6.7 mln Series A financing


This post is by Kirk Falconer from PE Hub Blog: Venture Capital Deals


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Canopy Rivers has invested $1.5 million in BioLumic Ltd, a Palmerston North, New Zealand-based maker of a sustainable ultraviolet (UV) crop yield enhancement system. The investment is part of the company’s $6.7 million Series A financing, led by Finistere Ventures, a U.S. food and agriculture venture capital firm. Canopy Director Mary Dimou will join the board as an observer. BioLumic will use the funds raised to accelerate and expand its UV light treatment initiatives, including for medical cannabis applications.

PRESS RELEASE

TORONTO and PALMERSTON NORTH, New Zealand, May 15, 2019 /CNW/ – BioLumic Ltd. (“BioLumic”), creators of a sustainable ultraviolet (UV) crop yield enhancement system, and Canopy Rivers Inc. (“Canopy Rivers”) (TSXV: RIV), (OTC: CNPOF) today announced a strategic investment from Canopy Rivers. BioLumic extended the Finistere Ventures-led Series A financing round to include Canopy Rivers’ strategic investment of US$1.5 million, closing the oversubscribed

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Fengate raises C$1.1 bln in close of third core infrastructure fund


This post is by Kirk Falconer from Pe Hub Blog: Firms & Funds


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Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its C$750 million target and initial C$1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Threadmark Partners was the placement agent. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate’s strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.

PRESS RELEASE

TORONTO, May 15, 2019 /CNW/ – Fengate Asset Management (Fengate) today announced that it has closed total capital commitments of $1.1 billion for Fengate Core Infrastructure Fund III and affiliated vehicles (Fund III), exceeding both its

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Northleaf recruits Sophia Damianou as managing director, EMEA


This post is by Kirk Falconer from PE Hub Blog: Human Resources


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Northleaf Capital Partners has hired Sophia Damianou as managing director, business development, Europe, the Middle East and Africa. Operating from Northleaf’s London office, Damianou will lead initiatives to develop relationships with institutional investors, consultants and advisors across the EMEA region. Damianou was previously director of marketing and investor relations at CapeView Capital, a U.K. hedge fund manager. Before then, she managed EMEA business development for Mesirow Financial. Toronto-based Northleaf, a global private equity, private credit and infrastructure manager, oversees more than $12 billion in capital commitments.

PRESS RELEASE

TORONTO (May 15, 2019) – Northleaf Capital Partners (Northleaf), a leading global private markets investment firm, is pleased to announce the appointment of Sophia Damianou as Managing Director, Business Development, Europe, the Middle East and Africa (EMEA). In her new role, Sophia will lead Northleaf’s business development and investor relations activities from the firm’s London office, further developing relationships with institutional

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Pegasystems buys VC-backed In The Chat Communications


This post is by Kirk Falconer from PE Hub Blog: PE-Backed Mergers and Acquisitions


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Pegasystems Inc (Nasdaq: PEGA) has acquired In The Chat Communications (ITC), a Waterloo-based digital messaging platform. Terms weren’t disclosed. Founded in 2010 by President and CEO John Huehn, ITC helps businesses more effectively find and engage with customers through social media. Pegasystems, a Cambridge, Massachusetts-based software company, said ITC’s platform will be integrated with its artificial intelligence-powered customer engagement solutions. ITC was a portfolio company of Canadian seed-stage investor MaRS Investment Accelerator Fund.

PRESS RELEASE

CAMBRIDGE, Mass., May 13, 2019 /CNW/ — Pegasystems Inc. (NASDAQ: PEGA), the software company empowering digital transformation at the world’s leading enterprises, today announced its acquisition of In The Chat (ITC), an enterprise-grade digital customer service platform provider that unifies text messaging, social media, live chat, email, messengers, and chatbots into a seamless conversation with customers.

ITC’s platform, which enables communications via virtually any digital channel, will be integrated with Pega’s AI-powered customer

™

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Great Point Partners invests in Axiom Real-Time Metrics


This post is by Kirk Falconer from PE Hub Blog: Buyout Deals


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Axiom Real-Time Metrics, a Toronto-based provider of e-clinical solutions, has raised a “significant” undisclosed investment from Great Point Partners, a U.S. healthcare private equity firm. Founded in 2001 by CEO Andrew Schachter, Axiom provides data management, data analytics, biostatistics, pharmacovigilance and other services that support the clinical study data and operational needs of small and mid-sized life sciences companies. The investment by GPP is Axiom’s first from an external capital source. The proceeds will be used for enhancements to Axiom’s Fusion eClinical platform and growth of professional services and business development initiatives.

PRESS RELEASE

TORONTO, May 08, 2019 (GLOBE NEWSWIRE) — Axiom Real-Time Metrics (“Axiom”), premier provider of unified eClinical solutions and services, today announces significant strategic growth funding. The investment has been led by Great Point Partners (“GPP”), a leading health care investment firm with approximately $1.6 billion of equity capital currently under management.
This

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Onex leads $1.8 bln investment in P&C insurer Convex


This post is by Kirk Falconer from PE Hub Blog: Buyout Deals


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Canadian private equity firm Onex Corp and a group of co-investors have committed to invest $1.8 billion in Convex Group Ltd, a newly-launched, Bermuda-based property and casualty insurance company. About $1.6 billion of the commitment has been funded, Onex said. Led by insurance industry executives Stephen Catlin and Paul Brand, Convex will focus on underwriting complex specialty risks across a range of business lines. The funded investment includes $750 million from Onex Partners V, which raised $7.15 billion in 2017. Another $780 million came from co‑investors, including Public Sector Pension Investment Board (PSP Investments), a Canadian pension fund.

PRESS RELEASE

TORONTO, April 30, 2019 (GLOBE NEWSWIRE) — Onex Corporation (“Onex”) (TSX: ONEX) today announced Onex Partners V and a consortium of co-investors have committed to invest $1.8 billion in Convex Group Limited (“Convex”), of which approximately $1.6 billion has been funded.
Convex is a

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Pangaea Ventures raises $70 mln for fourth advanced-materials fund


This post is by Kirk Falconer from Pe Hub Blog: Firms & Funds


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Canadian venture capital firm Pangaea Ventures has closed its fourth advanced-materials fund, raising about $70 million in commitments. Pangaea Ventures Fund IV was backed by a range of limited partners, including VanCity and BC Tech Fund, managed by Kensington Capital Partners. Pangaea also increased its strategic investors to twenty-five. Fund IV backers include existing investors CoorsTek, JSR and Mitsubishi Chemical Holdings and new investors Adidas, Doosan, Henkel, Lam Research, PTT Global, Sekisui, Severstal, Shin-Etsu and TOSOH.

PRESS RELEASE

Vancouver, BC, April 30, 2019 – Pangaea Ventures Ltd. today announced it has completed the final close of Pangaea Ventures Fund IV, LP, with commitments of $70M USD.

“We are pleased to have completed the fund raising for Fund IV and to see growth over our third fund,” said Chris Erickson, General Partner of Pangaea Ventures. “We have a good mix of limited partners that include strategic corporate heavyweights and financial institutions:

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Ontario Teachers’ unveils tech-focused VC, growth equity platform


This post is by Kirk Falconer from Pe Hub Blog: Firms & Funds


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Ontario Teachers’ Pension Plan has launched a new platform focused on late-stage venture capital and growth equity investments in technology companies. Teachers’ Innovation Platform, which will target global opportunities to disrupt incumbents and create new sectors, will be led by Senior Managing Director Olivia Steedman. Steedman, who joined the $191 billion Canadian pension fund in 2002, was previously managing director of the infrastructure and natural resources group.

PRESS RELEASE

TORONTO, April 23, 2019 /CNW/ – Ontario Teachers’ Pension Plan (Ontario Teachers’) is pleased to announce it is launching a new investment department, Teachers’ Innovation Platform (TIP). TIP will focus on late-stage venture capital and growth equity investments in companies that use technology to disrupt incumbents and create new sectors.

“We are excited to build a platform that leverages our track record, internal talent and partnership model,” said Ziad Hindo, Chief Investment Officer at Ontario Teachers’. “It will not be

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Sofinnova hires Maha Katabi as partner, will open Montréal office


This post is by Kirk Falconer from PE Hub Blog: Human Resources


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Silicon Valley biotechnology investment firm Sofinnova Investments has hired Maha Katabi as a partner. Katabi, who has worked as a Canadian venture capital and public equities professional for more than 18 years, joined from Oxalis Capital, an innovative therapeutics investor she founded in 2018. Previously, she was a partner at Sectoral Asset Management, a vice president at Ventures West Management and an associate at T2C2 Capital. With Katabi’s hire, Sofinnova said it will open an office in Montréal, enabling the firm to work more closely with companies based in the Eastern United States, Europe and Canada.

PRESS RELEASE

MENLO PARK, Calif., April 22, 2019 /CNW/ — Sofinnova Investments, a clinical stage biopharmaceutical investment firm, announces the addition of Maha Katabi, PhD. to the investment team as a Partner.

Sofinnova is pleased to announce Maha Katabi, PhD. has joined the firm as a Partner. She is an experienced investor

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HiMama secures C$7.25 mln in Round 13-led Series A round


This post is by Kirk Falconer from PE Hub Blog: Venture Capital Deals


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Toronto-based early childhood technology startup HiMama has raised C$7.25 million in a Series A financing. The round was led by Canadian growth-stage venture capital firm Round 13 Capital. Round 13 Managing Partner Bruce Croxon will join the board. Founded in 2013 by CEO Ron Spreeuwenberg and CTO Alana Frome, HiMama provides technology that helps child care directors and owners empower their staff, support parents, improve learning outcomes, and grow their business.

PRESS RELEASE

April 9, 2019 – TORONTO, CANADA – Early childhood tech startup HiMama has raised CAD $7.25M in a Series A round funded by Toronto-based venture firm Round 13 Capital.
The Series A funding round is the first institutional investment for the privately held HiMama, which has experienced ten-fold growth in the past three years and whose product is used in thousands of child care centers globally. In support of the investment, Round 13 Capital

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777 Partners acquires minority stake in ULCC Flair Airlines


This post is by Kirk Falconer from PE Hub Blog: Buyout Deals


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Flair Airlines, a Kelowna, British Columbia-based ultra-low-cost carrier (ULCC) airline, has secured an undisclosed investment from 777 Partners, a U.S. private equity firm. The investment gave 777 a 25 percent equity stake in the company. Originally founded as a charter airline in 2005, Flair transitioned into a full commercial scheduled service two years ago. CEO Jim Scott said the partnership with 777 will ensure that Flair is able to compete and continue on “our strong trajectory for domestic growth while meeting the clear demand for ULCC airline options in Canada.” The airline currently operates 188 flights per week, coast to coast.

PRESS RELEASE

Edmonton, Alberta, April 02, 2019 (GLOBE NEWSWIRE) — Edmonton, AB, Canada, April 1, 2019 – Flair Airlines(“Flair”), Canada’s only independent ultra low-cost carrier (ULCC), announced that Miami-based investment firm 777 Partners(“777”) has acquired a 25 percent equity stake in the airline for an

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