Q-News
June 2010
Posted in Mike's Commentary
We saw a nice uptick during the month of May in terms if
both reported deals and dollars invested.
For the month, we found a total of 14 transactions being reported for $84.7
million with sizable investments being made in Delta Q Technologies ($17
million), Blueprint Software Systems ($14.3 million), Vantrix ($14 million),
Vivonet ($8.5 million), Energate ($7.2 million) and Sidense ($5 million).
There was plenty of interesting news on the VC front,
starting with Edgestone’s Venture Capital Fund being merged with Bridgescale
Partners. This development is certainly
positive for the struggling Canadian VC community given Edgestone’s inability
to close a long anticipated fund.
Bridgescale, and in particular Rob Chaplinsky and Howard Gwinn, have
taken a very active role in the investment community since setting up shop in
Toronto late last year and the combination of Edgestone’s remaining team,
namely Derek Smith and Laura Lenz whose focus is on earlier stage companies,
will be an excellent compliment to Bridgescale’s later stage cross-border focus.
Vanedge Capital, led by well-known Managing General
Partner Paul Lee, announced the first closing of its interactive digital
media-focused $100 million Vanedge Capital I LP with commitments from limited partners
that include Teralys Capital, BDC Venture Capital, BC Renaissance Capital Fund,
and Nicola Wealth Management Ltd. The
team has an excellent pedigree and will be looking for investment opportunities
throughout North America with a primary focus on Canada.
Blackberry Partners Fund also announced the launch of a
US$100 million affiliate fund (Blackberry Partners Fund China) focused on mobile investment
opportunities in China. The fund has a US$50 million commitment from
China Broadband Capital Partners and a US$35 million commitment from Thomson
Rueters and RIM.
This year’s third annual Canadian Innovation Exchange
is set to take place December 7th at MaRS. Event organizers are looking for applications
from Canada’s
most innovative ICT, cleantech and digital media companies who will be invited
to present their product or service in front of a panel of Canadian and US
investors, executives, delegates, and industry peers. CIX has risen to become the “must attend”
event for participants in the Canadian tech community so don’t miss it this
year.
Finally, we would like to congratulate the team at Wellington Financial who raised over
$40,000 from their annual charity golf tournament, with proceeds going to The
Jean Tweed Centre, Ronald Macdonald House, and Sunnybrook Hospital’s
Women & Babies Program.
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