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JUNE 2013
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News


January • February • March • April • May • June • July • 
August • September • October • November • December

 16 May 2013   Québec’s Venture Capital Market in Q1 2013
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 16 May 2013   Activity in the Québec venture capital market up sharply, with first-quarter investments more than quadrupling
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 03 May 2013   Canada’s Venture Capital Action Plan: A Step Closer to Helping Innovators Grow and Create Jobs.
   www.fin.gc.ca/n13/13-067-eng.asp
 03 May 2013   Venture Capital Action Plan Selection Processes
  The Honourable Jim Flaherty, Minister of Finance, announced Friday an important step in implementing the Harper Government’s Venture Capital Action Plan, a comprehensive approach to funding innovative companies, while supporting growth and job creation in Canada. The Government is inviting interested parties to submit their candidacy to act as a General Partner and Manager to manage a fund of funds established or recapitalized through the Venture Capital Action Plan. For each fund of funds, the selected candidate will invest and manage total committed capital ranging from $300 million to $400 million. It is expected that the General Partner will commit its own resources and secure some of the private sector investors for the fund. To qualify for consideration, candidates should have experience managing funds of funds, venture capital funds or another similar vehicle, and have, or be prepared to establish, a substantial presence in Canada. Interested parties should submit an expression of interest by June 3, 2013. The Government is also inviting expressions of interest from high-performing venture capital funds seeking a potential investment from the Government under the Venture Capital Action Plan. To qualify for consideration, high-performing funds are expected to be broadly focused on key growth sectors where Canada can be competitive globally, have already or are expected to shortly hold a “first closing”, and have a substantial presence in Canada. Venture capital funds should submit an expression of interest by May 27, 2013. Additional information on the Venture Capital Action Plan, including guidelines and frequently asked questions related to both selection processes, is available herewith.
 www.fin.gc.ca/vcap-pacr/selection-eng.asp
 25 April 2013   Des membres d’Anges Québec investissent 935 K$ dans Optosécurité et sa suite logicielle de sécurité pour les aéroports
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 16 April 2013   Anges Québec conclut un partenariat avec la Banque Nationale
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 22 March 2013   Réaction face au budget fédéral 2013 : Réseau Capital déplore l’élimination graduelle des crédits d’impôts pour les fonds de travailleurs
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 14 March 2013   L’économie que nous voulons : UNE ALLIANCE INÉDITE DE GENS D’AFFAIRES ET D’ÉCOLOGISTES PROPOSE AU QUÉBEC DE MISER SUR UNE ÉCONOMIE VERTE
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 19 February 2013   Activity in the Québec venture capital industry in 2012 : Highest level of fundraising since 2002 and 15% rise in investments in the fourth quarter
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 19 February 2013   Activity in the Québec buyout and private equity market in 2012 : Totalling $4.4 billion, the market posts an exceptionally high volume of transactions, beating the 2007 record
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 19 February 2013   Québec’s Buyout & Private Equity Market in 2012
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 19 February 2013   Québec’s Venture Capital Market in 2012
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 01 February 2013   Capital régional et coopératif becomes majority shareholder of Urecon, present in the Montérégie and in Alberta
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 31 January 2013   Fonds de solidarité FTQ Took Action To Help BioSyntech Avoid Bankruptcy
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 25 January 2013   Start-Up Visa Program: Réseau Capital hails this new initiative of the federal government and hopes that existing laws governing immigration to Québec will favour inclusion of local venture-capital funding under the new federal program
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 23 January 2013   Le Centech de l’ÉTS annonce un partenariat avec Fondaction
  Le Centre de l’entrepreneurship technologique (Centech) de l’École de technologie supérieure (ÉTS) est fier d’annoncer la signature d’une entente de partenariat stratégique avec Fondaction, le Fonds de développement de la CSN pour la coopération et l’emploi. Le Centech et Fondaction collaboreront afin de favoriser la création d’entreprises technologiques sur les territoires montréalais et québécois, notamment dans le secteur des technologies propres.
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 15 January 2013   Fonds de solidarité FTQ Invests in Muse Entertainment Enterprises
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 04 January 2013   At $27.20, Fonds de solidarité FTQ share reaches a new high
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 18 December 2012   Ernst & Young report: Private Equity - Public Exits - Q3 2012
  Ernst & Young would like to alert you to the launch of our global report, Private Equity, Public Exits-Q3-2012, wich was recently released.

PE-backed IPO proceeds decline in line with broader market; 17 sponsored deals raise US$4.0b

Volatility in the global IPO market continued unabated in the third quarter. Persistent concerns around overall macroeconomic uncertainty have weighed heavily on investor confidence. Globally, new public issuers raised US$28.7b across 173 IPOs, a decline of 35% from the second quarter of the year, when US$44.3b was raised in 248 new offerings. PE-backed activity was similarly down during the third quarter. Seventeen sponsored companies raised US$4.0b in the third quarter, a 70% drop from the US$6.7b raised in Q2 and a 35% drop in number. This was the lowest number of PE-backed enterprises to conduct IPOs since Q2 2009. Year-to-date, PE-backed IPOs have raised US$16.7b, a significant decline relative to the US$34.3b raised over the same period last year and driven largely by the absence of the large IPOs that defined the first half of 2011.

In contrast to global trends, which have continued to see the Asia-Pacific region as a driver of IPO activity, PE-backed issuance remains centered around the US market with 70% of PE-backed issuers in the third quarter based in the US. However, Asia and the emerging markets in general continue to see substantial IPOs backed by PE-investors. There were no PE-backed IPOs in EMEA during the quarter.

We look forward to hearing your views.

Kind regards,
The Ernst & Young Transaction Advisory Services team
Transactions@ca.ey.com
 http://www.ey.com/Publication/vwLUAssets/PE-IPO-Report_Q3-2012/$FILE/PE-IPO-Repo
 13 December 2012   Capital régional et coopératif Desjardins and Vision Globale acquire Studios Mel’s and Locations Michel Trudel
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 12 December 2012   Des membres d’Anges Québec investissent 590 K$ dans GCS Medical et son positionneur chirurgical AssistArm
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 06 December 2012   Fonds de solidarité FTQ SME Confidence Index: varied and complementary sources of financing more important than ever during uncertain economic times
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 06 December 2012   Fonds de solidarité FTQ invests $4.725 million in Mediagrif Interactive Technologies Inc.
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 27 November 2012   OMERS Ventures Invests $500,000 in LeadSift
  LeadSift, a Halifax-based start-up that mines social media data to generate high-quality sales leads, has secured $500,000 in financing from OMERS Ventures. The funds will be used for product development, sales and marketing and hiring.
 www.omersventures.com/4996.aspx
 15 November 2012   Les membres d’Anges Québec et le fonds Anges Québec Capital investissent 1,25 M$ dans Fortem et son logiciel de sécurité Omniprésence 3D
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 13 November 2012   More than 40% of 2012 transaction activity in Québec’s venture capital industry was conducted in the third quarter
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 13 November 2012   Québec’s Venture Capital Market in Q3 2012
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 13 November 2012   Ernst & Young report: Private Equity Capital Confidence Baromter
  Ernst & Young would like to alert you to the launch of our new global report, the 2nd Private Equity Capital Confidence Barometer (CCB), which was recently released.

This third edition of the PE Global Capital Confidence Barometer (CCB), Ernst & Young's semi-annual survey of senior PE executives from around the world, asked a hundred PE respondents about their sentiments regarding the economy, fund-raising, value creation and deal-making.

KEY FINDINGS:
A majority of PE respondents (77%) and corporations (78%) say that the global economy shows no signs of improving.
75% of PE firms expect fund-raising to be the same or better, in spite of the economic environment.
A majority of PE firms believe that the availability of credit is stable.
Half (49%) plan to pursue acquisitions for their portfolio companies.
47% of PE firms plan to increase jobs in portfolio companies.
PE firms (43%) expect increased exit activity in the next year.

To learn more, please follow this link for copy of the report.

We look forward to hearing your views.

Kind regards,
Ernst & Young Transaction Advisory Services team
transactions@ca.ey.com

 http://www.ey.com/Publication/vwLUAssets/Global-Capital-Confidence-Barometer/$FI
 31 October 2012   Fondaction CSN participe au rachat de Systèmes CVT
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 25 October 2012   Thrasos Secures $35 Million to Fund THR-184 Phase 2 Clinical Program for Treatment of Acute Kidney Injury
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