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Cross Border Activity - September 2007
Several Canadian companies received large amounts of financing from U.S. and Canadian private equity/venture capital players. Details of September’s Cross Border Activity are listed below.
- OANDA Corporation raised $100 million in Series B venture capital financing. The funding was led by New Enterprise Associates and includes U.S. investors Legg Mason, Cascade Investment LLC, T. Rowe Price and existing investor Index Ventures. OANDA provides Internet-based forex trading and currency information services and has offices in New York and Ontario.
- Quebec-based Enobia Pharma Inc. raised $40.1 million in a Series B multi-tranche financing. The round was co-led by new investors OrbiMed Advisors LLC of New York and CTI Life Sciences Fund of Quebec.
- Vantrix Corporation announced that it secured $12 million in Series B financing. Vantrix is a provider of mobile multimedia adaptation and delivery solutions with headquarters in Quebec. The financing was led by Chicago-based JK&B Capital along with existing investors Summerhill Venture Partners, Entrepia Ventures, BDC Venture Capital and Innovacom.
- BTI Photonics Systems of Ontario raised US$12 million in its fourth round of funding. The round was led by an undisclosed private equity investor from Boston and included existing Canadian investors Vengrowth Private Equity Partners, BDC Venture Capital, GrowthWorks Capital, Primaxis Technology Ventures and U.S. investors Kodiak Venture Partners and Lucent Venture Partners.
- Ontario-based Infobright Inc. secured $8 million in Series B financing. The round was led by IDG Ventures Boston and joined by return-backer RBC Technology Ventures.
- Exact Software, a Massachusetts-based provider of business software solutions, entered into an agreement to acquire Ontario-based Longview Solutions, a leading provider of Corporate Performance Management software solutions. The planned purchase price is approximately US$51.5 million.
- Massachusetts growth private equity and buyout firm, TA Associates, acquired a minority position in Gandinnovations, an Ontario-based manufacturer of state-of-the-art wide format graphics printers and ink. Terms of the transaction were not disclosed.