Kirk Falconer
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.
Boris Wertz launched Version One Ventures with the aspiration of making it “one of the top 10 seed funds in North America.” Less than a year later, he appears to have realized that ambition. U.S. data platform Mattermark last month ranked Vancouver-based Version One as No. 8 on a list of 115 leading VC investors. PeHUB Canada Editor Kirk Falconer sat down with Wertz to find out his secret to success.
ResponseTek Networks Corp, a provider of enterprise customer experience management (CEM) software solutions, has secured a $6 million round of financing from Beedie Capital Partners and GrowthWorks. Proceeds of the investment will be used to support the company's continued growth and expansion into the Middle East and Asia. Based in Vancouver, ResponseTek has implemented CEM programs using its ReponseTek Listening Platform™ in over 30 countries throughout North America, Europe and Asia, according to the company. ResponseTex has been venture-backed since 2001. Its other investors include BDC Venture Capital and MMV Capital Partners.
Triphase Accelerator Corp, a cancer-focused biotechnology accelerator, has been formed by an investment partnership of Fight Against Cancer Innovation Trust (FACIT) and affiliates of commercialization and innovation hubs MaRS Innovation and MaRS Discovery District. With operations in Toronto and San Diego, Calif., Triphase aims to support differentiated products through proof of concept (Phase II) faster and more efficiently. Originally spun out of the Ontario Institute for Cancer Research in 2010, Triphase has entered into a strategic relationship with Celgene Corp, a manufacturer of drug therapies for cancer and inflammatory disorders with headquarters in Summit, New Jersey.
Shopify Inc said Thursday that it has raised $100 million in Series C funding. OMERS Ventures and Insight Venture Partners led the round with participation from Bessemer Venture Partners, FirstMark Capital, Georgian Partners and Felicis Ventures. According to the company, the capital infusion will be used to expand its recently launched offline retail offering. Based in Ottawa, Ontario, Shopify is an e-commerce and retail platform. Update: The Series C round raised by the company brings its total venture capital investment since 2010 to over $120 million.
When it comes to helping technology companies raise risk capital, Canadian innovation hub MaRS Discovery District appears to be doing the job. Entrepreneurs and startups supported by MaRS programs have since 2009 leveraged close to $840 million from angel investors, venture capital firms and other sources, according to MaRS stats shared with peHUB Canada.
The Fonds de solidarité des travailleurs du Québec FTQ, one of Canada’s oldest private equity firms, celebrates its 30th birthday this year. Founded in 1983 by Québec’s largest labour federation, Fonds FTQ marked the occasion in February by welcoming its 600,000th retail investor.