brad meikle
The $20 million Series C financing of Clio capped a solid start to Canadian venture capital deal-making in 2014. In an interview with peHUB Canada, the startup's co-founder and CEO Jack Newton explains why the Vancouver-based provider of cloud-based tools to the legal industry is gaining traction in the marketplace. At the same time, Canadian life sciences companies have taken an especially large share of venture cash since January, suggesting that investment activity in the sector may be staging a comeback after a quiet 2013.
Underscoring investor appetite for start-ups, U.S. venture-capital backed companies held 36 initial public offerings in the first quarter, more than any quarter for at least five years, reports Reuters. The IPOs raised US$3.27 billion, more than four times the amount in the first quarter of 2013, according to the National Venture Capital Association. For venture-backed companies, the quarter was one of the strongest in recent years, topped only by periods when outsized IPOs dominated markets.
Underscoring investor appetite for start-ups, U.S. venture-capital backed companies held 36 initial public offerings in the first quarter, more than any quarter for at least five years, reports Reuters. The IPOs raised US$3.27 billion, more than four times the amount in the first quarter of 2013, according to the National Venture Capital Association. For venture-backed companies, the quarter was one of the strongest in recent years, topped only by periods when outsized IPOs dominated markets.
Canadian venture capital firm Klass Capital has led the $1 million financing of TrackTik, a Montréal-based cloud and mobile platform designed to help security companies manage workforces and streamline operations. Also joining the round was Jordan Banks, managing director of Facebook Canada, Craig Campbell, former CEO of Total Security Management, and Adrian Schauer, former CEO of Vortex Connect. TrackTik said the funding will support its growth strategy and position the startup as an industry leader. Klass Capital indicated that it would again invest in TrackTik as the company continues to scale its sales and build its team.
Canada’s Venture Capital and Private Equity Association and research partner Thomson Reuters will in May publish their full report on Canadian venture capital deal-making in the first quarter of 2014. In the meantime, peHUB Canada has compiled an early list of some of the top disclosed financings completed since January.
Canada’s Venture Capital and Private Equity Association and research partner Thomson Reuters will in May publish their full report on Canadian venture capital deal-making in the first quarter of 2014. In the meantime, peHUB Canada has compiled an early list of some of the top disclosed financings completed since January.
ENBALA Power Networks Inc has appointed Arthur (Bud) Vos as the company's new president and CEO. Vos has more than 15 years of energy industry experience, including his time serving as COO at Simple Energy Inc and CTO of Comverge Inc. Based in Toronto, ENBALA has developed a smart-grid technology platform to provide flexibility to the power system. The company is backed by Canadian venture capital firms Chrysalix Energy Venture Capital, EDC Equity Fund, EnerTech Capital, The Walsingham Fund and XPV Capital.
ENBALA Power Networks Inc has appointed Arthur (Bud) Vos as the company's new president and CEO. Vos has more than 15 years of energy industry experience, including his time serving as COO at Simple Energy Inc and CTO of Comverge Inc. Based in Toronto, ENBALA has developed a smart-grid technology platform to provide flexibility to the power system. The company is backed by Canadian venture capital firms Chrysalix Energy Venture Capital, EDC Equity Fund, EnerTech Capital, The Walsingham Fund and XPV Capital.
Copper.io, a portfolio company of Canadian technology accelerator and investor LX Ventures, has hired Bernd Petak as its chief operating officer. The appointment is effective immediately. Petak is a former strategy and operations consulting partner at Deloitte. Based in Vancouver, British Columbia, Copper.io is a provider of tools for developers of web and mobile apps. Update: LX Ventures acquired the company in February 2014.
Copper.io, a portfolio company of Canadian technology accelerator and investor LX Ventures, has hired Bernd Petak as its chief operating officer. The appointment is effective immediately. Petak is a former strategy and operations consulting partner at Deloitte. Based in Vancouver, British Columbia, Copper.io is a provider of tools for developers of web and mobile apps. Update: LX Ventures acquired the company in February 2014.