Peter Letko will transition from SVP to senior advisor with Letko, Brosseau & Associates Inc., remaining as the largest shareholder and member of board of directors and of Investment Council . Co-founder Daniel Brosseau will continue as President.
Front Row Ventures held final close for FRV 2022 LP with aggregate $5.5M in capital commitments from founders, private investors, iNovia Capital, Quebec government and others.
David Nault and Karim Gillani led Luge Capital held $71M initial close for Luge Investment Fund II. Fund II LPs include CDPQ, Desjardins, BDC Capital, Sun Life, Industrial Alliance Financial Group, Fonds de solidarité FTQ, Inovia Discovery Fund I.
CDPQ, Investissement Québec and Energy Impact Partners backed FLO secured a $60 million revolving credit facility from National Bank of Canada's Technology and Innovation Banking Group.
Dragan Tutic's Oneka Technologies closed first tranche of Series A with $12.5M investment led by the Hoffecker Family with participation of Horizon Capital Holdings, AQC Capital, the Wilson Family, Propulia Capital, Invest Nova Scotia, others.
Eric Bergeron led Flyscan Systems secured financing from Marathon Petroleum which joined BDC Capital, Hatch, Enbridge as investors/shareholders. Shawn M. Lyon from Marathon Petroleum joined Flyscan board.
Armstrong Murira and Nardin Nakhla founded Simmunome secured $2M seed funding from Theodorus Investment Funds, BKR Capital, Sandpiper Ventures, Fonds d’investissement Eurêka, and ACET Capital. Theodorus' Theo Risopoulos, BKR's Lise Birikundavyi and Sandpiper's Rhiannon Davis joined Simmunome board.
Xavier Constantin and Nick Lombardi founded Streamforge secured US $1.2M seed funding led by Triptyq Capital with participation from Leansquare, Telegraph Hill Capital, and private investors. Guillaume Therien of Triptyq Capital joined Streamforge's board.
DalCor Pharmaceuticals Canada raised US $80M Series D funding from Investissement Québec, Fonds Propres d’Investissement Québec, Andes Growth, TB Pharma, Fonds de Solidarité FTQ, and CTI Life Sciences.
Inovia Capital launched US $25M Inovia Discovery Fund I focused on early stage VC managers, with commitments from Deloitte Ventures, Canadian Tire Corporation and others.
GHGSat secured US $44M Series C1 equity and debt funding from Fonds de solidarité FTQ, BDC Capital, Investissement Québec, Climate Investment, Japan Energy Fund and debt facility from The Bank of Montreal (BMO).
EQT Private Equity and PSP Investments backed Cerba HealthCare acquired CIRION BioPharma Research Inc. from founders Dr. Sylvain Desrochers and Dr. Lise Dallaire
Marc-Andre Forget and Dan Fletcher led dcbel secured US $50M+ Series B funding led by Idealist Capital with participation of Coatue, Volvo Cars, Kevin Mahaffey, Real Ventures and Investissement Québec. Pierre Larochelle of Idealist Capital will join dcbel board.
Novo Nordisk A/S to acquire Inversago Pharma for up to US $1.075B from Forbion, New Enterprise Associates (NEA), adMare BioInnovations, Anges Québec Capital (AQC), Amgen Ventures, AmorChem, Fonds de solidarité FTQ, Genesys Ventures, JDRF T1D Fund, Tarnagulla Ventures Fund, and others.