Kirk Falconer
Fonds de solidarité FTQ invested $8.8 million in the initial public offering (IPO) of Milestone Pharmaceuticals Inc, a Montréal-based developer of therapies for treating episodic cardiovascular conditions. Milestone completed its IPO on the Nasdaq Stock Market this month, raising about $111 million (US$82.5 million). Fonds de solidarité FTQ, a Canadian provider of development capital, has backed Milestone, directly and as a fund investor, since the company's founding in 2005 by CSO Philippe Douville. Its total investment prior to the IPO was $17.3 million.
Canopy Rivers has invested US$1.5 million in BioLumic Ltd, a Palmerston North, New Zealand-based maker of a sustainable ultraviolet (UV) crop yield enhancement system. The investment is part of the company's US$6.7 million Series A financing, led by Finistere Ventures, a U.S. food and agriculture venture capital firm. BioLumic will use the funds raised to accelerate and expand its UV light treatment initiatives, including for medical cannabis applications. Canopy, the venture capital arm of Canadian cannabis producer Canopy Growth Corp, said BioLumic marks its first deal in the agricultural technology sector.
Toronto-based online wealth platform Nest Wealth has acquired Razor Logic Systems, a St. Albert, Alberta-based provider of financial planning software. No financial terms were disclosed. Founded in 2011 by CEO Dave Faulkner, Razor is the maker of financial planning solution RazorPlan. Nest Wealth said the acquisition will add financial planning capabilities to its business-to-business digital wealth management offering. Founded in 2014 by CEO Randy Cass, Nest Wealth has secured financing from National Bank of Canada, which made a $6 million minority investment in 2017, and Metroland Media Group Ltd.
Toronto-based online wealth platform Nest Wealth has acquired Razor Logic Systems, a St. Albert, Alberta-based provider of financial planning software. No financial terms were disclosed. Founded in 2011 by CEO Dave Faulkner, Razor is the maker of financial planning solution RazorPlan. Nest Wealth said the acquisition will add financial planning capabilities to its business-to-business digital wealth management offering. Founded in 2014 by CEO Randy Cass, Nest Wealth has secured financing from National Bank of Canada, which made a $6 million minority investment in 2017, and Metroland Media Group Ltd.
Mobile Klinik, a Toronto-based professional smartphone and tablet repair chain, has raised $27.5 million in a Series C financing. The round, which brings total funding to $44 million, was led by unidentified investment funds and included a minority investment from Canadian Business Growth Fund (CBGF). Kensington Capital Partners led Mobile Klinik's $6.85 million Series B round in 2017. Launched in 2015 by Canadian wireless and retail executives Rob Bruce, Ken Campbell, Alain Adam and Naaman Zorub, Mobile Klinik operates from locations in shopping malls and other high-traffic retail locations. It will use the deal's proceeds to complete a planned roll-out of 200 Canadian stores by 2022.
Toronto-based financial technology startup Koho has secured $42 million in a Series B financing. Portag3 Ventures, an investment arm of Canadian holding company Power Corp, led the round. It was joined by U.K. growth equity firm Greyhound Capital and other strategic investors. Portag3 also led Koho's $8 million round in 2017. Led by CEO Daniel Eberhard, who co-founded the company in 2014, Koho provides an integrated app and reloadable card to help more than 120,000 Canadian customers manage and gain insights about their spending and saving. Koho will use the funds raised to accelerate growth and develop new products and services.
Toronto-based financial technology startup Koho has secured $42 million in a Series B financing. Portag3 Ventures, an investment arm of Canadian holding company Power Corp, led the round. It was joined by U.K. growth equity firm Greyhound Capital and other strategic investors. Portag3 also led Koho's $8 million round in 2017. Led by CEO Daniel Eberhard, who co-founded the company in 2014, Koho provides an integrated app and reloadable card to help more than 120,000 Canadian customers manage and gain insights about their spending and saving. Koho will use the funds raised to accelerate growth and develop new products and services.
BDC Capital has provided undisclosed mezzanine financing to Nicoya Lifesciences Inc, a Kitchener, Ontario-based nanotechnology company. The funding is part of a $7.7 million investment in Nicoya that is also backed by FedDev Ontario. BDC invested through its Growth & Transition Capital group. The funds raised will allow Nicoya to develop and market a new version of its flagship product, OpenSPR, a biosensor platform that supports biotechnology and pharmaceutical research applications, and meet demand. Last year, Nicoya closed a $2 million financing led by Ripple Ventures and Golden Triangle Angel Network. BDC also invested in the round.
BDC Capital has provided undisclosed mezzanine financing to Nicoya Lifesciences Inc, a Kitchener, Ontario-based nanotechnology company. The funding is part of a $7.7 million investment in Nicoya that is also backed by FedDev Ontario. BDC invested through its Growth & Transition Capital group. The funds raised will allow Nicoya to develop and market a new version of its flagship product, OpenSPR, a biosensor platform that supports biotechnology and pharmaceutical research applications, and meet demand. Last year, Nicoya closed a $2 million financing led by Ripple Ventures and Golden Triangle Angel Network. BDC also invested in the round.
Pegasystems Inc (Nasdaq: PEGA) has acquired In The Chat Communications (ITC), a Waterloo-based digital messaging platform. Terms weren't disclosed. Founded in 2010 by President and CEO John Huehn, ITC helps businesses more effectively find and engage with customers through social media. Pegasystems, a Cambridge, Massachusetts-based software company, said ITC's platform will be integrated with its artificial intelligence-powered customer engagement solutions. ITC was a portfolio company of Canadian seed-stage investor MaRS Investment Accelerator Fund.