Emerging Companies & Venture Capital

Emerging Company Financing

• Thentia on its C$10-million Series B1 funding round led by private equity firms Spring Mountain Capital and BDC Capital.

• ​KOHO Financial Inc., a leading Canadian fintech company, in connection its C$70-million Series C investment from TTV Capital, Drive Capital and Portag3.

• Notch Therapeutics Inc. on its US$85-million Series A financing.

• Bonsai, a leader in point-of-discovery online-checkout technology, on its C$21-million Series A round led by Framework Venture Partners.

• Diggs Inc. on its US$13-million Series A investment round led by venn growth partners with backing by Strand Equity.

• AutoLeap Inc., a provider of management software for auto-repair shops, on its C$18-million Series A investment round led by Bain Capital Ventures.

• Railz.ai, developer of an application programming interface to provide accounting data-as-a-service, on its US$12-million Series A funding, led by Nyca Partners, with participation from Susa Ventures, Vestigo Ventures, Entrée Capital Global Founders Capital, Plug and Play Ventures, N49P, and Hack VC.

• Svante Inc. on its US$75-million Series D equity financing.

• Grayhawk Investment Strategies Inc. on its C$13-million Series B financing leg by Sagard Holdings Inc.

• League, Inc., a leader in health-care platform technology, on its US$95-million Series C financing investment from TDM Growth Partners and Workday Ventures.

• Bolt Technologies Inc. (f.k.a. Second Closet), a leading technology-enabled logistics and last-mile delivery provider, on its C$115-million Series B financing round led by Yaletown Partners, with participation from Ingka Investments (the investment arm of IKEA) and existing investors, including Whitecap Venture Partners and Intact Ventures.

• Cinchy Inc., a leading provider of data ware, on its C$10-million Series A investment round led by Information Venture Partners.

• Blueprint Software Systems Inc. in connection with its Series D preferred share financing.

• Hi Mama Inc., a software-solutions provider for childcare centres, on its C$70-million Series B round led by Bain Capital Double Impact, including existing investors Round13 Capital and BDC Capital’s Women in Technology Venture Fund.

• Knix Wear Inc., an e-commerce company selling intimate apparel, on its C$53-million Series B round let by TZP Group.

• Vena Medical on its C$6.5-million Series A venture financing round.

• Zymeworks Inc. in connection with its private placement of Class A Preferred Shares for aggregate gross proceeds of US$61-million.

• Various emerging companies, including BitCine Technologies, IncWisedocs, Curv Labs Inc., PolicyMe Corp., Knockri Inc., Get Synapse, Inc., Senso.ai and Final Blueprint Inc. (d.b.a. Willful), on their seed financing rounds as well as general corporate and commercial matters.

Venture Capital and Sector Investments

• McCain Foods Limited on the C$50-million investment round in Simulate Labs and related commercial matters.

• An investor on its US$95-million investment in ApplyBoard Inc.'s Series D financing.

• The lead investor in Tenstorrent Inc.’s Series C financing for over US$200-million, valuing Tenstorrent at US$1-billion.

• Caisse de dépôt et placement du Québec, Investissement Québec and other participants on their investment in Inovia Capital’s C$450-million backing of domestic tech champions.

• Koru, a groundbreaking venture foundry created by the Ontario Teachers’ Pension Plan, in various investments and other matters, including investments in Elovee and Fyld.

• Entrepreneur First, an international Talent Investor supporting individuals to build technology companies, with its expansion into Canada and development of Canadian investment documents.

• McCain Foods Ltd. in connection with its investments in TruLeaf, a leading vertical farming venture, and NUGGS Labs, a plant-based chicken nugget producer.

• Caisse de dépôt et placement du Québec (CDPQ) in several investments in venture and technology enterprises.

• Nutrien Ltd. in connection with the formation of a partnership by entering into a limited partnership agreement with Radicle Growth Management, LLC, a San Diego-based acceleration fund focused on agtech and food tech.

• The majority investor in connection with various investments in Wealthsimple, one of Canada’s leading fintech companies.

• Whitecap Venture Partners on its C$10-million series A investment in Nicoya Lifesciences Inc.

• Mantella Venture Partners in connection with numerous investments, including Ritual Technologies Inc. and Felix Health.

• Cowen Healthcare Investments with the approximately US$82.5-million Series B financing of Repare Therapeutics Inc.

• Khosla Ventures on various investments, including in Meta Inc., Indigo Fair, Deep Genomics and Casca Designs Inc.

• Perceptive Xontogeny Venture Fund, LP in connection with its US$21-million series A venture capital investment in Zucara Therapeutics Inc.

• BDC Capital on its co-investment in Preciseley Microtechnology Corporation along with ACE Equity Partners, and ACE Equity Partners on related Canadian regulatory matters.

Mergers & Acquisitions and Exits

• Canadian counsel to Elastic N.V. on its acquisition of CmdWatch Security Inc.

• SecureWorks Corp. on its acquisition, through one of its wholly owned subsidiaries, of all outstanding and issued shares in the capital of Delve Laboratories Inc.

• Kognitiv Corporation on its C$525-million acquisition of Aimia Inc.’s Loyalty Solutions business.

• Great Hill Partners on the C$126-million acquisition of VersaPay Corporation.

• FLIR Systems, Inc. on its US$200-million acquisition of Aeryon Labs Inc.

• The Toronto-Dominion Bank on its acquisitions of artificial intelligence firm Layer 6 Inc. and asset management firm Greystone Capital Management.

• Audax Group, Inc. on its acquisition of EIS, Inc.

• Rover Parking Inc. on its acquisition by SpotHero, Inc.

• Rank Software Inc. on its acquisition by Arctic Wolf Networks Inc.

• Encycle Therapeutics and its investors on a sale process and their ultimate sale to Zealand Pharma