The Deal Digest (April 2024)

The Deal Digest (April 2024)

Welcome to the April edition of The Deal Digest, a monthly briefing powered by CVCA Intelligence!

Each month, we bring you details about the industry's latest transactions and provide a carefully crafted snapshot of the Canadian VC and PE landscape.

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.


⏰ There's still time left to get your tickets to Invest Canada '24 in Montreal!

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Get your tickets now and secure your spot among industry leaders, gaining invaluable insights and networking opportunities.


Budget 2024

This month, the federal government's 2024 budget included a concerning update for our industry: a substantial increase in capital gains taxes. This adjustment poses serious challenges, dampening the entrepreneurial spirit and potentially stifling the investment necessary for sustained innovation.The CVCA is deeply troubled by this move and is committed to engaging with government officials to reverse this decision to better support the growth of Canada's startup ecosystem and ensure the nation remains a competitive landscape for high-risk, high-reward investments. You can find CEO Kim Furlong’s Statement here.


🎉 New CVCA Members

Finchley Healthcare Ventures

Maple Bridge Ventures

Manitoba First Fund

Beazley Canada Limited

The Citco Group Limited

Regenerative Capital Group


Venture Capital Deals

Earned Wage Startup Zayzoon Brings on Two New Backers with Series B Extension

Rails Announces $6.2M in Funding from Slow Ventures, CMCC Global and Round13 Capital for a Self-Custodial Crypto Perpetuals Exchange

RealSage Closes $5.5 Million CAD to Fuel Growth of AI-Powered Real Estate Software

Tofu Nets $1.2 Million to Fast-Track Hiring for Tech Startups

Flare Acquires US-Based Competitor Foretrace

Brim Financial Secures $85 Million in Series C Funding to Fuel Global Expansion

TrojAI Raises $5.75M in Seed Funding to Secure AI in the Enterprise

Eirene Launches Operations in the U.S. After Raising Over $4M in Seed Round to Accelerate its Growth

Government Software Provider Clariti Cloud Secures $18 Million USD from Vistara Growth

Swtch Energy Secures $37.4 Million CAD to Continue Deployment of EV Chargers For Multi-Unit Buildings

Eocycle Technologies Secures $25 Million CAD to Expand Wind Turbines in US, Europe

Vidyard Rolls Out AI Avatars after Securing Funding from EDC And Existing Backers

Electronics Startup SmartD Technologies Powers Up with $14.2-Million Series A

Forcen Closes $8.35 Million in Funding to Develop its Touch-Tech for Robots

BioIntelligence Technologies Raises $5m to Accelerate Growth in America and Europe


Private Equity Deals

Fonds de Solidarité FTQ Invests in Habitat

Nuvei Enters Into Agreement To Be Taken Private By Advent International, Alongside Existing Canadian Shareholders Philip Fayer, Novacap And CDPQ At A Price Of US$34.00 Per Share

Brookfield Announces a Strategic Partnership With Soundcore Capital Partners And Heartland Paving Partners

Westland Insurance Group Announces New Quebec Brand Globalex Assurances

Cadent Announces Intent to Acquire Performance Advertising Pioneer Adtheorent

Fonds de solidarité FTQ Invests $5 Million In Oatbox

PE-Backed Averna Snaps Up Elcom from CEIP

Encino Acquisition Partners Announces $300 Million Equity Commitment from CPP Investments

Engage3 Secures $25 Million Credit Facility from Espresso Capital


Exits

CPPIB and partner sell motorcycle racing league as part of $3.8 billion deal

Apotex to Acquire Searchlight Pharma, a Canadian Specialty Branded Pharmaceutical Leader

Terravest Announces the Acquisition Of Advance Engineered Products


CVCA member organizations receive a designated number of licenses to CVCA Intelligence. Non-members can enjoy unlimited monthly or discounted annual access to high-quality, real-time industry data and analysis by becoming CVCA Intelligence subscribers. Become a CVCA Intelligence subscriber here.

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