The Deal Digest (January 2024)

Welcome to The Deal Digest?- a new monthly briefing powered by CVCA Intelligence!

We're thrilled to launch The Deal Digest powered by CVCA Intelligence, which is a carefully crafted snapshot of the Canadian VC and PE landscape. Each month, we'll bring you details about the industry's latest transactions.

CVCA members are privy to a more detailed, timelier digest of transaction details, delivered directly to their inboxes every Monday morning. As a member, you'll not only stay ahead with our comprehensive deal listings but also enjoy a suite of exclusive benefits including special event invitations, access to private networking groups, discounts at partner events, the latest job opportunities, and much more.

Become a CVCA member today and be part of a network that's shaping the future of the industry. Learn more about membership here.

New CVCA Members

AltaML

Experience transformative AI-powered solutions tailored to the unique needs of your organization. AltaML’s comprehensive suite of services and expertise encompass the entire machine learning (ML) life cycle, from evaluating potential use cases and determining feasibility, to piloting solutions, putting code into production, and ensuring models evolve over time. AltaML’s proven applied AI methodology allows us to work alongside your team for faster and smarter deployment, increasing success rates and driving faster value realization.

RBCx

RBCx helps tech companies scale and make an impact on the world by connecting them to the right people, ideas, and financial solutions of one of Canada’s largest banks.

Venture Capital Deals

• Inverted AI Closes $5.3 Million CAD in Seed Funding for Vehicle Safety Simulation Tech. CVCA Members: Yaletown Partners, Inovia Capital
• Woveo Closes $2.3 Million to Expand Community Wallet Platform for Underserved Banking Customers. CVCA Members: Relay Ventures, BKR Capital
• Requity Homes Secures $26 Million for Rent-to-Own Platform as High Interest Rates Loom Over Prospective Homeowners. CVCA Members: Highline Beta, Archangel Network of Funds
• Clinia Secures Series A Funding, Partnership with Telus Health to Deploy Its Search Tech. CVCA Members: TELUS Ventures, AQC Capital
• Arenax Labs Raises $6 Million to Fund AI-Powered Games in Round Led by Framework Ventures. CVCA Members: Framework Venture Partners
• Xaba Raises $2 Million in Seed Extension Round. CVCA Members: Hazelview Ventures, BDC Capital (Canada)
• Trice Secures Seed Funding from Diagram Ventures, Royal Bank of Canada, and Jam Fintop to Propel Innovation in Real-Time Bank Payments. CVCA Members: Diagram Ventures
• Vistara Growth Bets on US-Based Supply Chain Software Company. CVCA Members: Vistara Growth
• Vistara Invests $20M in Algo’s Global Growth, Product Portfolio. CVCA Members: Vistara Growth
• Racerocks Secures $3 Million Funding Round Led by Raven Indigenous Capital Partners. CVCA Members: Raven Indigenous Capital Partners
• Miovision Acquires One of Its Customers, Traffic Data Collection Firm CJ Hensch. CVCA Members: McRock Capital, BDC Capital (Canada), HarbourVest Partners, Export Development Canada | Exportation et développement Canada, Maverix Private Equity, TELUS Ventures
• GrowerIQ Acquires Cannabis Tech Competitor Ample Organics from US-Based Akerna. CVCA Members: MaRS Investment Accelerator Fund
• Instagrid Raises $95mn and Enters The North American Market. CVCA Members: Ontario Teachers' Pension Plan
• Spellbook Secures $27-Million CAD Series A to Scale “AI Copilot for Lawyers”. CVCA Members: Inovia Capital , Good News Ventures , Thomson Reuters Ventures
• Beatdapp Unveils $22.9 Million CAD Investment, Partnerships with Universal Music Group, Soundexchange, Napster. CVCA Members: Saltagen Ventures
• Swift Medical Announces New Financing Round to Further Enhance its AI-Based Wound Care Technology. CVCA Members: BDC Capital (Canada)

Private Equity Deals

• A Financial Group Led by Champlain Financial Corporation Invests in TCED Intl Inc. CVCA Members: Fondaction, Roynat Capital
• St-Méthode Bakery Partners with Swander Pace Capital, CDPQ, and Roynat. CVCA Members: Caisse de dép?t et placement du Québec (CDPQ), Roynat Capital
• Ninedot Energy Raises $225 Million in Equity Financing to Build and Operate Distributed Battery Energy Storage Projects . CVCA Members: The Carlyle Group, Manulife Investment Management
• CDPQ Invests $136 Million CAD into AppDirect Lending Program for Tech Advisors. CVCA Members: Caisse de dép?t et placement du Québec (CDPQ)
• OCTS Makes Three Strategic Acquisitions Forming the Overland Group. CVCA Members: Tricor Pacific Capital Inc.
• AGF Private Capital Acquires Majority Stake in Kensington Capital Partners for $45 Million. Portfolio Company & CVCA Members: Kensington Capital Partners Limited
• Aquatech BM Announces $1.7M Investment in Sustainable Manufacturing. CVCA Members: Investissement Québec, Fondaction
• M&R Engineering Joins the Ranks of BPA. CVCA Members: Caisse de dép?t et placement du Québec (CDPQ)
• Dexko Global Inc. Acquires Cerka Industries Ltd. CVCA Members: Brookfield Asset Management
• Westcap Announces New Investment in Timber-Tech Truss Limited Partnership. CVCA Members: WestCap
• Fengate Private Equity and Weathervane Investments Announce Acquisition of Saco Foods. CVCA Members: Fengate Asset Management
• Namakor Holdings Acquires CMI Mulching, a Manufacturer of Tracked Mulching Tractors and Stump Grinders, and Embarks on a New Phase of Promising Development. CVCA Members: Fonds de solidarité FTQ
• Lemay and Fusion énergie Join Forces to Accelerate The Decarbonization of Buildings. CVCA Members: National Bank Financial , Caisse de dép?t et placement du Québec (CDPQ)

Exits

• Beauty Tech Startup Fyyne Acquired by Nigeria-Based E-Commerce Company Bumpa. CVCA Members: BKR Capital, Techstars
• Bot management software startup Wysdom acquired by US-based Calabrio. CVCA Members: Brightspark Ventures

Fundraising

Climate Tech VC ArcTern Ventures Closes $450-million CAD Fund III from Large Institutions

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