The Social+Capital Partnership II L.P. has held an initial close.
The Social+Capital Partnership II has a fundraising target of $325 million.
The Social+Capital Partnership is a partnership of philanthropists, technologists and capitalists utilizing venture capital as a force to create value and change on a global scale. The Partnership is based in Palo Alto, California.
The Social+Capital Partnership was founded by Managing General Partner Chamath Palihapitiya in 2011, its managing team also includes General Partners, Mamoon Hamid and Ted Maidenberg.
Morguard North American Residential Real Estate Investment Trust (TSX: MRG.UN) has closed the acquisition of the remaining six multi-unit residential properties from Pearlmark Multifamily Partners, LLC, an institutional fund sponsored by private equity firm Pearlmark Real Estate Partners, L.L.C. for US $232 million, excluding closing costs.
On December 21, 2012, Morguard entered into an agreement to acquire a portfolio of 12 multi-unit residential properties from Pearlmark for an aggregate purchase price of US $450 million.
The Business Development Bank of Canada (BDC) and the Caisse de dépôt et placement du Québec (The Caisse) have made made an $12 million investment in Revision Military Inc., a developer and manufacturer of ballistic eyewear, head protection systems and other protective equipment designed for military and tactical use.
BDC is investing $7 million while the Caisse is contributing $5 million.
Data & Audio-Visual Enterprises Holdings Inc. (DAVE Holdings) and its affiliates (Mobilicity) said Catalyst Capital Group, Quadrangel and other debtholders have approved the $380 million acquisition plan by TELUS.
Catalyst Capital Group is a principal holder of First Lien Notes.
Quadrangle Capital Partners will receive its prorated shares of payments to Unsecured Pari Passu Notes (estimated to be less than 50 cents to 1 dollar) and will lose its entire investment in the form of unsecured subordinated notes (outstanding amount including accrued interest payable in kind of approximately $37 million as at March 31, 2013), along with unspecified equity investment in Mobilicity.
AvidBiologics Inc., a developer of antibody‐drug conjugates (ADCs), has completed second tranche of its Series A round of private financing, raising $Subscribe to View
AvidBiologics announced the closing of Series A in April 2012.
Founded in 2011, AvidBiologics holds rights to novel compounds previously engineered in collaboration with NRC – Biotechnology Research Institute, and Fox Chase Cancer Centre.
BRP Inc. (TSX: DOO, pending), a portfolio company of Bain Capital and Caisse de dépôt et placement du Québec, has priced its proposed initial public offering (IPO) of Subordinate Voting Shares.
BRP will issue 12,200,000 Subordinate Voting Shares at a price of $21.50 per Subordinate Voting Share for gross proceeds of $262.3 million.
Bain Capital, Beaudier, Bombardier family, and Caisse de dépôt et placement du Québec acquired Bombardier’s recreational products division for $960 million in December 2003, with an equity investment of $230 million.
Their combined stake is now worth $2.086 billion based on the offering price.
SolarWinds, Inc., (NYSE: SWI), through SolarWinds Worldwide, LLC, has agreed to acquire N-able Technologies International, Inc., a portfolio company of Accel-KKR and Laurence Capital Corp., for $120.0 million in cash.
Ottawa based N-able is a leader in Cloud-based remote monitoring and management (RMM) and service automation software for Managed Service ...
Signal Hill Equity Partners has added Mayank Chadha and Sundri Sengupta as Director of Operations and Director of Human Resources-Talent respectively.
Chadha and Sengupta will join Signal Hill Equity Partners's operations team that focuses exclusively on assisting the portfolio companies execute their operational improvement plans and growth strategies.
Avison Young has completed a private, structured finance transaction with an aggregate balance of $104.8 million. The transaction includes four Wal-Mart-tenanted, new-format stores in Ontario and was placed on behalf of Calloway Real Estate Investment Trust (Calloway REIT) in early May 2013.
This transaction employs an alternate-debt vehicle that allows ...
Logan International Inc. (TSX: LII), a company majority owned by Cadent Energy Partners, LLC, said its board of directors has undertaken a process to identify, examine and consider strategic alternatives available to maximize value for shareholders. This process includes seeking proposals from potential buyers.
ViXS Systems Inc., a portfolio company of Celtic House Venture Partners, New Enterprise Associate (NEA) and NOVACAP, and W 7 Acquisition Corp. (TSX-V: WSV.P) have formally entered into an amalgamation agreement.
Upon closing of the transaction, current shareholders of ViXS, holders of Subscription Receipts, and former shareholders of W 7 will own approximately 67%, 33% and less than 1%, respectively, of the issued and outstanding ViXS common shares post-amalgamation.
ViXS current shareholders will own 33.35 million shares with a deemed value of $116.7 million.
Signal Hill Equity Partners has opened a new office in Calgary. Signal Hill currently has two private equity investments, C & V Portable Accommodations Ltd. and Westridge Cabinets, in Alberta and has dedicated additional equity capital to expand its presence in Western Canada.
"Expanding our presence with a dedicated office in Alberta is an important milestone in our strategic plan," said James C. Johnson, Managing Partner of Signal Hill.
Signal Hill has hired Stephen Hughes, formerly Oil & Gas Institutional Sales with Integral Wealth Securities Limited, as Vice President to oversee the Calgary office. Stephen has spent the past decade working ...
LeddarTech Inc. has raised $2.5 million in second round of venture capital financing led by BDC Venture Capital and BDC managed Go Capital LP. Other existing investors iSource Gestion, Accès Capital Québec, and Desjardins-Innovatech (formerly Innovatech Québec et Chaudière-Appalaches) also participated in the financing.
LeddarTech closed first round of financing with the same investors in December 2009.
Difference Capital Funding Inc. (TSX-V: DCF) will seek shareholder approval of share consolidation, name change and reorganization at its annual and special meeting of shareholders to be held on June 13, 2013 at the offices of Wildeboer Dellelce LLP.
Difference Capital Funding intends to consolidate its outstanding common shares on the basis of ten (old) for one (new) shares, or such other ratio as may be determined by the board of directors.
Adaptive Planning Inc., a provider of cloud-based business analytics solutions, has raised $45 million in new round of financing led by Bessemer Venture Partners (BVP) and with participation from existing investors ONSET Ventures, Norwest Venture Partners (NVP), RBC Venture Partners, Cardinal Venture Capital, Monitor Ventures, and other investors.
Byron Deeter, Partner of BVP, will join Adaptive Planning’s board of directors.
Teine Energy Ltd., a portfolio company of CPP Investment Board (CPPIB), has entered into a Senior Secured Second Lien Term Loan providing for US $300 million of funds with a final maturity date of May 17, 2019. Pricing on the new term loan was set at L+625 with a ...
Blue Wolf Capital Partners LLC and Atlas Holdings have reached an agreement to acquire a controlling interest in Twin Rivers Paper Company, Inc. from Brookfield Asset Management Inc. for undisclosed amount.
The transaction is expected to close in approximately three weeks, allowing time for certain procedural requirements.
Halogen Software Inc. (TSX: HGN), a leading provider of cloud based talent management solutions, has closed its previously announced initial public offering (IPO) and secondary offering of its common shares.
Halogen issued 4,365,218 common shares at a price of $11.50 for total gross proceeds to Halogen of $50.2 million. Pursuant to an con-current secondary offering, JMI Equity Fund VI, L.P. sold 434,782 common shares at the offering price for gross proceeds of approximately $5 million.
Halogen's common shares have commenced trading on the Toronto Stock Exchange under the symbol "HGN".
Halogen stock opened at $12.60 and closed 20% at $13.15 with 1,298,717 shares changing hands for the first day of trading.
TowerBrook Capital Partners L.P., the transatlantic London and New York-based investment management firm, has recently closed a first and final close for TowerBrook Investors IV at its hard cap of US $3.5 billion.
Ares Capital Europe II fund has held a second closing. Canadian investors committed US $Subscribe to View million to Ares Capital Europe II (D), L.P. whose family of funds also includes Ares Capital Europe II (E), L.P. and Ares Capital Europe II (D) Offshore, L.P.
Ares Capital Europe II held an initial closing in January 2013 raising $472.35 million from 14 limited partners.
MB Global Partners, LLC, an asset management firm focusing on opportunities in the credit markets and other special situations, has secured US $Subscribe to View million for its inaugural fund, MB Special Opportunities Fund, a US $750 million target fund.
MB Global Partners was founded by CEO Maria Boyazny as a powerful platform for investors to get exposure to a broad set of credit dislocation opportunities.
Tembec Inc. (TSX: TMB) has closed the sale of its NBSK pulp mill and related assets located in Skookumchuck, BC to Paper Excellence Canada Holdings Corporation, a subsidiary of Paper Excellence B.V., for a consideration of $94.6 million, including $25.5 million in working capital.
LX Ventures Inc. (TSX-V: LXV) has closed its previously announced acquisition of Mobio Technologies Inc. In consideration for the assets of Mobio, LX Ventures has issued 2,000,000 common shares valued at $600,000 based on LXV closing stock price of $0.30 on May 16, 2013.
Mobio Technologies had raised over $Subscribe to View from Rho Canada, Naavon Capital Corporation, Adarsan Holdings Ltd., and private investors.
Ambit Biosciences Corporation (NASDAQ: AMBI) has closed its previously announced initial public offering (IPO), raising US $65 million through the issuance of 8.125 million shares at $8.00 per share.
As part of IPO, Ambit Biosciences also sold 3,134,495 shares at the offering price in a con-current private placement (PP) for gross proceeds of approximately $25.1 million.
On closing, Ambit Biosciences will have 17,712,558 shares issued and outstanding with a market cap of $141.7 million. Ambit stock last traded at $7.79 at 11:45AM on May 16, 2013.
Major shareholders/backers, OrbiMed Private Investments III, LP, Perseus-Soros Biopharmaceutical Fund, L.P. , Apposite Healthcare Fund LP, MedImmune Ventures, Inc., Roche Finance Ltd, GrowthWorks Canadian Fund Ltd., Forward Ventures IV, L.P., will continue to own 60.4% of Amit outstanding shares following the closing of the IPO and private placement.
Catalyst Capital Group, the largest debtholder in Mobility, has issued the following statement in responding today's announcement that TELUS has agreed to acquired Data & Audio-Visual Enterprises Holdings Inc. (DAVE Holdings Inc) and its affiliates, dba Mobilicity, a portfolio company of Quadrangle Capital Partners, for $380 million.
The entire purchase price will be used to satisfy Mobilicity’s secured and unsecured debt.
TELUS has officially announced the entering into an agreement to acquire Data & Audio-Visual Enterprises Holdings Inc. (DAVE Holdings Inc) and its affiliates, dba Mobilicity, a portfolio company of Quadrangle Capital Partners, for $380 million.
TELUS said if the deal receives the required approvals, it would ensure continued service to ...
The CPP Fund ended its fiscal year on March 31, 2013 with net assets of $183.3 billion, compared to $161.6 billion at the end of fiscal 2012. The $21.7 billion increase in assets for the year consisted of $16.2 billion in net investment income after operating costs and $5.5 billion ...
AltaGas Ltd. (TSX: ALA, ALA.PR.A, ALA.PR.U), through AltaGas Power Holdings (U.S.) Inc., has closed the acquisition of Blythe Energy, LLC, associated major spare parts, and a related 230 kV 67-mile electric transmission line from LS Power Equity Advisors, LLC for US $515 million.
(Kamloops, B.C.) - Bell Media, Astral Media Inc. (Astral) and the Jim Pattison Broadcast Group Limited Partnership (Pattison) today jointly announced Pattison’s acquisition of three key FM radio stations located in Calgary and Winnipeg.
Subject to regulatory approvals, Pattison will purchase the following two Bell Media stations and one Astral station:
The Ontario Securities Commission (OSC) will hold a roundtable on June 11, 2013 to seek input from investors and potential investors on investing in startups and small and medium sized enterprises (SMEs).
The OSC is considering ways to help startups and SMEs raise money. One option under consideration is "crowdfunding", ...