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Canopy Rivers invests in BioLumic’s $6.7 mln Series A financing

Canopy Rivers has invested $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 $6.7 million Series A financing, led by Finistere Ventures, a U.S. food and agriculture venture capital firm. Canopy Director Mary Dimou will join the board as an observer. BioLumic will use the funds raised to accelerate and expand its UV light treatment initiatives, including for medical cannabis applications.

S CAP invests in allergen-free foods maker Libre Naturals

U.S. impact venture capital firm S CAP has made an undisclosed investment in Libre Naturals, a Duncan, British Columbia-based maker of allergen-free snacks and cereals. Founded in 2012 by President Alana Elliott, Libre Naturals makes granola bars, protein bars, unbaked granolas and oatmeal cups that are free of the top 10 food allergens as well as gluten-free. Libre Naturals sells its products online and through select retailers in Canada and the United States. It expects to grow distribution across new retail channels over the next few months. S CAP invests in clean technology and food and beverage companies.

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SNC-Lavalin cancels sale of 407 International stake to OMERS

SNC-Lavalin Group Inc (TSX: SNC) has cancelled its sale to OMERS Infrastructure of a 10.01 percent stake in 407 International Inc, a Woodbridge, Ontario-based holder of a concession over 407 Express Toll Route (407 ETR). SNC-Lavalin said Canada Pension Plan Investment Board (CPPIB), which owns 40 percent of 407 ETR, exercised its right of first refusal (ROFR). As a result, the agreement with OMERS, announced in April, was terminated. The deal was valued at $3.25 billion. SNC-Lavalin said it will sell the interest to CPPIB or CPPIB and Ferrovial SA. Ferrovial, which holds a 43.23 percent stake, also sought to exercise its ROFR, but SNC-Lavalin disputes its ability to take this action.

Version One Ventures invests in retail delivery service Dolly

Version One Ventures has invested in Dolly, a Seattle, Washington-based same-day retail delivery service. Version One, a Canadian early-stage venture capital firm, backed the US$7.5 million financing of Dolly, announced this month. The round was led by Unlock Venture Partners and joined by Maveron. Launched in 2014 and led by CEO Mike Howell, Dolly provides a peer-to-peer marketplace to connect individuals and businesses with local truck owners to move, deliver or haul items. It will use the funds raised to enter new markets and facilitate plans to expand nationally and globally.

Silversmith Capital invests $96 mln in growth of PDFTron Systems

PDFTron Systems, a Vancouver-based document processing technology company, has secured a $96 million (US$71 million) investment from U.S. growth equity firm Silversmith Capital Partners. Debt financing was provided by THL Credit. Founded in 1998 and led by CEO Catherine Andersz, PDFTron provides a software development kit that enables document processing, conversion and collaboration by enterprise customers in a range of industries. The company reports more than doubling its workforce since the start of 2018. PDFTron said the partnership with Silversmith, its first with an institutional investor, will support accelerated R&D as well as acquisitions in North America and Europe.

Clarus-backed ESSA Pharma to acquire Realm Therapeutics

Vancouver-based pharmaceutical company ESSA Pharma Inc (Nasdaq: EPIX; TSX-V: EPI) has agreed to acquire Realm Therapeutics Plc (Nasdaq: RLM), a Malvern, Pennsylvania-based maker of therapies for treating immune-mediated diseases. The all-stock deal values Realm’s issued and outstanding shares at about US$21.5 million. It is expected to close by mid-year. The acquisition is supported by ESSA investor Clarus Ventures, a U.S. life sciences venture capital firm acquired by Blackstone Group last year. ESSA is also backed by Omega Funds. Founded in 2009, ESSA is focused on developing therapies for treating prostate and other cancers. It said the acquisition is intended to be supplemented by a financing involving insiders and other investors.

BDC Capital invests in Fiasco Gelato as part of broader deal

BDC Capital recently provided undisclosed quasi-equity financing to Fiasco Gelato Cafés Ltd, a Calgary-based artisan gelato and sorbetto maker and wholesaler. BDC, which invested through its Growth & Transition Capital group, said the financing is part of a broader deal that includes equity investors and government grants. No details were released. Founded in 2003 and led by Chief Idea Officer and CEO James Boettcher, Fiasco sells its products through more than 2,800 retailers across Canada. It will use the funds raised to expand distribution in Ontario, Québec and Atlantic Canada as well as develop and market new flavours.

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Fonds de solidarité FTQ invests $8.8 mln in Milestone’s IPO

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.

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Canopy Rivers invests in BioLumic’s $6.7 mln Series A financing

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.

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Ontario Teachers’ to sell BluEarth Renewables to Dutch investor DIF

Ontario Teachers’ Pension Plan has agreed to sell BluEarth Renewables LP, a Calgary-based builder, owner and operator of wind, hydro and solar facilities, to DIF, a Dutch infrastructure investment firm. No financial terms were released for the deal, which is expected to close later this year. Following the close, DIF will own 100 percent of BluEarth, the company said. Ontario Teachers’ invested in BluEarth alongside Canadian energy private equity firm ARC Financial Corp when the business was established in 2010. Ontario Teachers’ acquired ARC’s interest in 2015. The year before, BluEarth said it had raised more than $250 million in equity from its investor base. BluEarth is led by President and CEO Grant Arnold.

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Fengate raises C$1.1 bln in close of third core infrastructure fund

Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its C$750 million target and initial C$1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Threadmark Partners was the placement agent. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate’s strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.

Northleaf recruits Sophia Damianou as managing director, EMEA

Northleaf Capital Partners has hired Sophia Damianou as managing director, business development, Europe, the Middle East and Africa. Operating from Northleaf’s London office, Damianou will lead initiatives to develop relationships with institutional investors, consultants and advisors across the EMEA region. Damianou was previously director of marketing and investor relations at CapeView Capital, a U.K. hedge fund manager. Before then, she managed EMEA business development for Mesirow Financial. Toronto-based Northleaf, a global private equity, private credit and infrastructure manager, oversees more than $12 billion in capital commitments.

Fengate raises $1.1 bln in close of third core infrastructure fund

Fengate Asset Management has raised $1.1 billion in committed capital in the final close of its third core infrastructure fund. Fengate Core Infrastructure Fund III exceeded both its $750 million target and initial $1 billion hard cap. It was backed by new and existing limited partners, including public and corporate pension plans, insurance companies and funds of funds, based in North America, Europe and Japan. Fund III, already about 50 percent deployed or committed to seven North American assets, will maintain Fengate’s strategy of investing in mid-sized infrastructure assets emphasizing greenfield projects. Based in Toronto, Fengate invests in infrastructure, private equity and real estate.

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Caisse de dépôt acquires 45 pct interest in DP World Chile

Caisse de dépôt et placement du Québec (CDPQ) has acquired a 45 percent stake in DP World Chile, which operates terminals in Puerto Central and Puerto Lirquen, serving Chilean consumption and industrial centres. CDPQ invested through its $5 billion investment platform with Dubai port operator DP Worldestablished in 2016. CDPQ said its acquisition will be executed at the same price as DP World’s April purchase of Puertos y Logística SA (now DP World Chile) for US$502 million. Earlier this month, the CDPQ-DP World platform agreed to acquire Vancouver-based marine terminal Fraser Surrey Docks from Macquarie Group.

Venture-backed Nest Wealth acquires Razor Logic Systems

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.

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Northleaf recruits Sophia Damianou as managing director, EMEA

Northleaf Capital Partners has hired Sophia Damianou as managing director, business development, Europe, the Middle East and Africa (EMEA). Operating from Northleaf’s London office, Damianou will lead initiatives to develop relationships with institutional investors, consultants and advisors across the EMEA region. Damianou was previously director of marketing and investor relations at CapeView Capital, a U.K. hedge fund manager. Before then, she managed EMEA business development for Mesirow Financial. Toronto-based Northleaf, a global private equity, private credit and infrastructure manager, oversees more than US$12 billion in capital commitments.

Mobile Klinik lands $27.5 Series C round, CBGF acquires stake

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.

Fintech startup Koho raises $42 mln in Portag3-led Series B round

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.