Kirk Falconer
Canadian solar energy technology company Morgan Solar Inc has entered into an undisclosed strategic investment and partnership agreement with Kuwait-based EnerTech Holding Company KSCC. Under the agreement, EnerTech will invest in the company and transfer technology and know-how to Kuwait and the region by establishing local manufacturing and assembling facilities for Morgan Solar's platform. Founded in 2007, the Toronto-based Morgan Solar is backed by a number of energy businesses, including Enbridge Inc, and private equity and venture capital firms, including U.S.-based Turnstone Capital Management. EnerTech was formed recently by the Kuwait Investment Authority to invest in and develop clean technologies.
Wattpad, also known as WP Technology Inc, has secured $46 million in a Series C financing round led by OMERS Ventures, the venture investment arm of the Ontario Municipal Employees Retirement System. The round was also joined by August Capital, Raine Ventures and Northleaf Venture Catalyst Fund, as well as existing investors Union Square Ventures, Khosla Ventures, Jerry Yang of AME Cloud Ventures, Golden Venture Partners, and Boris Wertz of Version One Ventures. Based in Toronto, Wattpad is a social platform that creates direct connections between readers and writers. The company said it will use its latest funding to expand its Toronto team and to support product development and platform growth.
Wattpad, also known as WP Technology Inc, has secured $46 million in a Series C financing round led by OMERS Ventures, the venture investment arm of the Ontario Municipal Employees Retirement System. The round was also joined by August Capital, Raine Ventures and Northleaf Venture Catalyst Fund, as well as existing investors Union Square Ventures, Khosla Ventures, Jerry Yang of AME Cloud Ventures, Golden Venture Partners, and Boris Wertz of Version One Ventures. Based in Toronto, Wattpad is a social platform that creates direct connections between readers and writers. The company said it will use its latest funding to expand its Toronto team and to support product development and platform growth.
Canadian specialty finance firm Wellington Financial LP has provided US$11 million in venture debt financing to Operative Media Inc, a New York-based specialist in cloud-software solutions and outsourced ad services for media businesses. Proceeds of the investment will help Operative Media to continue enhancing its platform, expanding global operations and developing new offerings for publishers. Founded in 2000, the company is backed by U.S. venture capital firm Edison Ventures. It has also received financing from Orix Ventures.
Pythian, a provider of data management consulting and services, has secured $6 million in new funding. The investors included the Business Development Bank of Canada (BDC) and Royal Bank of Canada (RBC). Proceeds of the investment will be used to expand the market reach of the company's leading product offering, Adminiscope, a data security solution that is focused on helping global retailers eliminate data security breaches. Founded in 1997, Pythian has it headquarters in Ottawa.
Aurinia Pharmaceuticals Inc (TSX-V: AUP) has completed a US$52 million private placement. The deal was led by venBio, New Enterprise Associates, Redmile Group, RA Capital Management, Great Point Partners and Apple Tree Partners, with the participation of existing investors Lumira Capital, ILJIN Life Science and Difference Capital. Lumira, Difference Capital and ILJIN in 2013 helped finance Aurinia's merger with Isotechnika Pharma Inc. The Edmonton-based company intends to use the new funds for the clinical and non-clinical development of its lead drug candidate, a therapy for treating lupus nephritis. Aurinia's current leadership team includes former senior managers of Aspreva Pharmaceuticals Corp, which was acquired in 2008.
Boris Wertz’s instiutional seed fund is just over a year old, but has risen to become one of the top 10 seed funds in North America
Axine Water Technologies Inc said Wednesday that it has raised $5.6 million in a Series A financing round. The investors included U.S. venture capital firm The Roda Group, and Canadian firms Chrysalix Energy Venture Capital and BDC Venture Capital, which are existing investors. Based in Vancouver, British Columbia, Axine Water Technologies is a developer of chemical-free solutions that treat pollutants in industrial wastewater. Update: Funding proceeds will be used to ensure Axine's continued progress towards commercialization of its wastewater treatment technology platform. The company has been venture-backed since 2012.
Response Biomedical Corp (TSX: RBM)(OTCBB: RPBIF) has received a US$2.5 million term loan from Silicon Valley Bank. Headquartered in Vancouver, British Columbia, Response Biomedical develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP platform for clinical, biodefense and environmental applications. Update: The company plans to use funds from the loan to support working capital needs for growing its markets both in the United States and internationally, and for general corporate purposes.
Acquisio Inc has received expansion funding from Canadian technology-focused venture capital firm Emerillon Capital. The financial terms of the deal were not published. Acquisio, ranked 7th in the 2013 Deloitte Fast 50™, will use investment proceeds to accelerate growth through strategic acquisitions. Founded in 2003, the Brossard, Québec-based company provides digital marketers with a performance media platform that enables them to optimize the results of their search, social, mobile, and display marketing programs. Venture-backed since 2011, Acquisio's other investors include the Fonds de solidarité des travailleurs du Québec FTQ and Tandem Expansion Fund. Emerillon Capital was established in 2013 through a partnership between Groupe Crédit Mutuel – CIC and Mouvement Desjardins.