brad meikle

Telus Health, a division of Canadian telecommunications company Telus Corp (TSX: T) (NYSE: TU), has acquired Med Access Inc, a provider of electronic medical record (EMR) services to physicians. The financial terms of transaction were not disclosed. The acquisition brings the total Telus Health EMR reach to more than 12,500 Canadian medical practitioners, according to the company. Based in Kelowna, British Columbia, Med Access was reported to be a recipient of seed-stage venture capital investment in 2009.

Retail venture capital fund Golden Opportunities Fund, which is managed by Saskatoon, Saskatchewan-based investment firm Westcap Management, has raised a total of $40 million in new commitments. With this raise, the fund reached the subscription limit for its 2013 tax credit-eligible fund-raising year. Founded in 1999, Golden Opportunities invests in small and medium-sized growth companies in diverse sectors of the economy. To date, it has invested over $275 million in 112 companies.

Unified Computer Intelligence Corp (UCIC), the maker of Ubi, a voice-activated computing tool that offers access to information and control of home automation devices, has received $635,000 in financing. The company's backers are members of Ontario-based angel organization Maple Leaf Angels, as well as other angel investors. The Toronto-based UCIC was launched in 2012 via a Kickstarter campaign, through which a total of US$229,000 was raised for the company. Since its founding in 2007, Maple Leaf Angels has completed 23 investments with a total group investment of $10 million.

Vancouver-based Trulioo Inc and Dutch startup IDchecker.com have been awarded nearly US$500,000 in financing from international government grant program EUREKA. The funds will facilitate a joint venture by the two companies to develop a mobile technology that is capable of automating university student enrollment, including remote global identity verification, and issuing secure credentials. Founded in 2009, Trulioo develops identity and age verification solutions for the Internet. The company has been backed by U.S. venture capital firm Blumberg Capital since 2012.

The C100 is just four years old, but it has achieved an impressive track record in that short time. The nonprofit—which aims to bring like-minded Canadian entrepreneurs and executives together in Silicon Valley through its programs, such as 48 Hours in the Valley—reported that startups connected to it have raised US$700 million in venture funding since the C100 launched in 2010. That’s great news for Scott Bonham, a founding partner at GGV Capital, who has begun serving as co-chair of the organization.

Venture capital invested in Canadian innovative companies increased 31% in 2013, according to data provided by Thomson Reuters, and released by Canada’s Venture Capital & Private Equity Association. But there’s another statistic that speaks even more eloquently of last year's achievement: Canadian innovative companies on average captured 54% of the VC invested on average in American companies. At first glance, that percentage may not seem striking, but it in fact represents a major milestone in our market’s comparatively short history.

A total of $588 million was invested in 151 companies in Québec's venture capital market in 2013, up 46% from 2012 and reflecting the highest level of disbursements since 2007, according to data provided by Thomson Reuters and released by Réseau Capital. Québec financings consequently took a higher proportion of dollars invested across Canada last year, or 30% of the nearly $2 billion invested in total. Additionally, buyout and related private equity deal-making in Québec accounted for a sizeable $3.6 billion in disclosed values in 2013, down 20% from the year before, but surpassing activity in 2011, 2010 and 2009. Close to two-thirds of the 120 transactions announced or completed in total in Québec last year showed disclosed values of $10 million or less.

Canada's provincial securities regulators are looking to extend their jurisdiction to cover crowdfunding, the grass-roots form of fundraising being pursued by a growing number of start-ups and small ventures, reports Reuters. The Canadian Securities Administrators , the council of provincial regulators, said on Thursday they aim to strike a balance between making more cash available to promising start-ups and ensuring investors aren't stretching beyond their means to invest in risky bets. The proposals, which are open to public comment until the end of May, include a framework to manage the growth of online crowdfunding sites pitching private opportunities to investors who might then decide to invest between C$20,000 (US$17,900) and C$150,000. The Ontario Securities Commission, the biggest of the country's provincial regulators, said the proposed amendments would require changes to its definition of so-called accredited investors, who can legally invest without seeing a prospectus.

MultiCorpora R&D Inc, a provider of translation technology solutions, has agreed to be purchased by R. R. Donnelley & Sons Co (Nasdaq: RRD) for an undisclosed amount. The Chicago, IL-based R. R. Donnelley & Sons, an integrated communications company, said the acquisition will enhance its client offering in the areas of multi-lingual web content solutions and transcreation. Based in Gatineau, Québec, MultiCorpora has previously been venture-backed. Its investors have included the Fonds de solidarité des travailleurs du Québec FTQ.