Real Ventures has fulfilled an ambition to raise a fund large enough to expand its horizons and take the firm’s technology seed model to new locales. The Montréal-based firm closed its third early-stage fund, Real Ventures III, in August. It raised $89 million in committed capital, GP John Stokes told peHUB Canada, or almost 80 percent more than its predecessor.
Cincinnati, Cleveland and Columbus: The three Cs of a venture boom in flyover country
Mark McQueen, president and CEO of Wellington Financial, sees opportunity for private debt providers as a result of volatile public markets, especially if continued uncertainty creates challenges for technology ventures seeking risk capital. The potential for more cautious equity deal-makers may open doors to alternative capital sources, including innovation-focused lenders like Wellington.
PHEMI, a big data platform designed for healthcare institutions, has raised a fresh round of financing to bring its technology to a wider array of enterprises and industries. The Vancouver-based startup announced today that it has secured $12.2 million in a Series A round co-led by Canadian venture firms CTI Life Sciences and Discovery Capital, and joined by existing investors BDC Capital and Yaletown Venture Partners.
Canadian venture fundraising reversed two years of decline with growth in the first half of 2015, owing in part to the increased influence of the Venture Capital Action Plan (VCAP). Jeff Pentland, managing director of Northleaf Capital Partners, whose Northleaf Venture Catalyst Fund recently closed at $300 million, said "we’re now beginning to see the impact of all of the VCAP funds coming on stream.”
Agtech venture firm Avrio Capital expects to see an outsized return on its investment in a Canadian natural foods producer following the company’s sale to a U.S. private equity firm this week. Manitoba Harvest Hemp Foods sold for $132.5 million, which will give Avrio a nine-fold return on its invested capital, the firm's Managing Director Aki Georgacacos told peHUB Canada.
McRock Capital, an investor in the industrial Internet, is preparing to wrap up its debut fund after securing a commitment from one of the world’s largest electric utilities. The Toronto-based firm announced today that McRock iNFund LP received an undisclosed investment from France’s EDF, its second strategic backer. As a result, Fund I moved closer to reaching its goal of $65 million of committed capital.
Whitecap Venture Partners has closed its third technology fund at the upper end of its fundraising target, paving the way for a new investment. The Toronto-based firm announced today that it has wrapped up Whitecap III LP at $100 million in committed capital. It also said Fund III led the financing of Qvella, a Canadian molecular diagnostics company.
Genesys Capital has launched its third life sciences venture fund on the strength of several recent portfolio wins, including the public debut of medical device provider Profound Medical. Genesys Ventures III LP hit the fundraising trail in April, targeting $150 million in committed capital. That’s more than twice the size of its predecessor, which closed in 2007.
Canadian e-commerce startup Shop.ca is looking at going public within the next year to take advantage of robust investor appetite for the country's technology sector, its top executive said in an interview with Reuters. The company raised $20 million from strategic and institutional investors in a recent financing round led by Scotiabank, bringing its total fundraising to date to $75 million.