Organization: VenGrowth Capital Partners

The Next 36 announces expansion as NEXT Canada

The Next 36 has rebranded itself as NEXT Canada and expanded its executive suite as it develops an enhanced business plan for release in the coming months. Founded in 2010, NEXT Canada aims to strengthen the innovation ecosystem and facilitate access by young entrepreneurs through mentorship, education and networking. Joining the organization as CEO is…

Sandvine Corp raises $40 million through IPO

Sandvine Corp has successfully raised $40 million with an initial public offering (IPO) on the Toronto Stock Exchange. The Waterloo ON-based company will realize about $13 million from the IPO which it will plow into R&D for its broadband network management equipment aimed at residential broadband service providers. The remaining two-thirds will go to Sandvine’s…

Nakina received US$10 million in financing

Nakina Systems Inc, Ottawa, has secured US$10 million in series B financing to accelerate product development and marketing and sales of its multi-vendor security systems for large telecom and data network vendors. The financing was led by VIMAC Ventures, Boston, with participation by EDC Equity, VenGrowth Capital Partners and MMV Financial Inc. VenGrowth provided the…

Two labour-sponsored funds to get new owners

Fullarton Capital Corp, managers of Capital Alliance Ventures Inc (CAVI). and the Canadian Science and Technology Growth Fund Inc (CSTGF), is negotiating to sell its company to GrowthWorks WV Management Ltd. The merger will give GrowthWorks combined assets of about $800 million, making it the third largest labour sponsored fund manager behind Fonds de solidarité…

Vengrowth invests $6 million in two software firms

VenGrowth Capital Partners has invested $6 million in two private software firms aimed at the growing field of “on-demand computing” Toronto-based Opalis Software Inc received $3.6 million to further develop its multi-platform automation software geared to large data centres. Ottawa-based Trigence Corp received $2.4 million to develop its software for more efficient management of server-based…

Espial completes financing for Java-based software

Ottawa-based Espial has secured US$11 million in financing from a venture capital syndicate led by VenGrowth Capital Partners. Vengrowth invested $7 million in the developer of Java-based software applications that reduce risk and time to market for delivery of smart devices in sectors including the Internet, digital TV, wireless devices and automotive systems. Also participating…