2016-10-31
Funds
iNovia Capital raises US $600M for early stage and growth funds
iNovia Capital raised US $200M for iNovia Investment Fund 2018, US $400M for inaugural growth fund, iNovia Growth Fund. Caisse de dépôt et placement du Québec (CDPQ) committed US $100M to two funds
Cycle Capital holds $109M initial close for Cycle Capital IV
Cycle Capital Management (CCM) held $109M initial close for CCM Capital IV from (IQ), Teralys Capital, Fonds de solidarité, Fondaction, Suez, Hydro-Québec, Innergex, McConnell Foundation, Rio Tinto, Vancity, Trottier Family, private investors
Crown Capital Partner Funding secures $25M revolving credit facility with ATB
Crown Capital Partner Funding secured $25 million senior secured revolving credit facility with Alberta Treasury Branches (ATB).
BDC Capital anchors Framework Venture Partners
Framework Venture Partners launched inaugural fund, with target of $150M, with commitments from BDC Capital, Cadillac Fairview, Royal Bank of Canada, and BC Tech Fund.
Deals
Difference Capital acquires 5.25% stake in Michael Wekerle’s Wekerloo Development
Difference Capital invested $2.1M in Wekerloo Development Inc., a company controlled by Michael Wekerle and the parent company of Waterloo Innovation Network Group of Companies (WIN).
People
Geneviève Morin joins Anges Québec Capital as CEO
Anges Québec Capital appointed Geneviève Morin, former Chief Investment Officer of Fondaction, its new CEO, replacing François Gilbert
Sponsored Contents
Open Banking: what’s really at stake – by Richard Remillard
“Can Canada build such a national project when it is having such difficulty getting national projects for the 20th century economy off the ground, out of the ground and out to market?”
Analysis
Last business day before Christmas, the busiest financing closing day
The last business day before Christmas was the busiest financing closing day with the closing of 53, 86 and 75 financings respectively in 2016, 2017 and 2018.
US VCs, International Corporate VCs primary backers of Canadian startups
US VCs invested $439M, 2.7 times of the $162M invested by Canadian VCs. International CVCs invested $120M, ranking 3rd behind US VCs and Canadian VCs.
Foreign investors play ever important role in Canadian VC ecosystem
Every VC dollar raised by Canadian companies, 55 cents from foreign sources with almost 40 cents from USA alone, only 45 cents from Canadian sources.
Canadian Venture Capital 2017 First Half Report
CPE Media released its inaugural and ground-breaking report into venture capital (VC) activity in Canada for first half (H1) of 2017.
