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Ideal conditions for more Vancouver tech IPOs as resource sector struggles - Edmonton Journal

CALGARY - Vancouver's high-tech sector is poised to cash in on Canada's public listing boom. The combination of lower returns in traditional resource sectors, alongside a strong pool of tech companies valued in the hundreds of millions, has created ideal conditions for them to go public, Brent Holliday, CEO of Garibaldi Capital Advisors,... "What you see is a thirst for public issues from the institutional investors in the TSX, where they're going to get some return, where they're going to get some growth," said Holliday. Vancouver-based Mogo Finance Technology Inc. , the creator of an online loan platform, is already working through a public listing as it looks to raise $50 million. The company has reportedly settled on a slightly lower issuing price than the $11 to $13 it was seeking, but Nick Waddell, editor of the technology-focused Cantech Newsletter, says it's still been a strong showing. "I think it's only a lukewarm reception when compared to a Shopify, because coming on the heels of something eight times over subscribed is a tough act to follow. Waddell says Vancouver tech companies are growing more confident that they can compete internationally. That has meant fewer companies selling out early as they instead concentrate on growing their business. "There's a new attitude among these 20-something, 30-something founders," says Waddell. "There's a confidence that we can take on the world, and we're going to do it. ". Holliday points to the growth of later-stage funding to help their companies grow, rather than being forced to accept a takeover offer. "Those companies that could have been IPO candidates last decade ended up selling early. they had no other way of growing," said Holliday. He points to new funds like OMERS Ventures, the venture capital arm of the Ontario Municipal Employees Retirement System's pension fund, for helping fill the void in the $10 million to $50 million range of funding. "That really gives the companies the fuel they need to become global players," said Holliday. Vancouver-based Hootsuite is one of the most highly anticipated public listings in Canada, but so far the company hasn't made any time commitments about going public. The company is one of many that's benefitted from late-stage funding, raising $60 million last year from existing investors Accel Partners, Insight Venture Partners and OMERS. Source: www.edmontonjournal.com

Equity Crowdfunding Gets Green Light in Five More Provinces Including BC ... - Techvibes (blog)

Securities regulators in five more provinces are poised to allow equity crowdfunding in their jurisdictions. Last week regulators in British Columbia, Saskatchewan, Manitoba, Québec, New Brunswick and Nova Scotia announced new harmonized rules that will govern the practice in those provinces. Previously, only Saskatchewan allowed ordinary investors to participate in equity crowdfunding. “Crowdfunding is an attractive way for startups to raise capital. This regime addresses micro-capitalization needs and issues, which are more local in nature and sometimes industry-specific,” Louis Morisset, the chair of the Canadian Securities Administrators and the president and CEO of the Quebec securities... The new rules will allow startups based in those six provinces to raise up to $250,000 through an individual equity crowdfunding offering. Companies will be allowed to conduct a maximum of two offerings a year and raise up to $500,000 in total. Individuals will be limited to investing a maximum of $1,500 in a specific equity crowdfunding round but there will be no limits on how much they can invest in total. Investors will also have 48-hours after a purchase to change their minds. They will also have a 48-hour window to withdraw their investments if any changes are made to the offering document - information about the startup, its management and how it plans to use the funds raised. RELATED: Why Equity Crowdfunding is the Future of Fundraising in Canada. “In a relatively short period of time, crowdfunding has become an important new method of raising capital through the internet for a broad range of purposes. It has been used to raise money for specific projects that do not generally involve the issuance of securities. However, in some foreign jurisdictions, equity crowdfunding is emerging as a way for businesses, particularly startups and small issuers, to raise capital,” the new rules state. Publicly-traded companies, known as reporting issuers, will not be allowed to take advantage of the new rules, however new regulations for those companies are in the works. The Ontario Securities Commission had been working with the other provinces to draft equity crowdfunding regulations, however it now plans to introduce separate regulations on its own. Those regulations will most likely allow for larger offerings - up to $1. 5 million a year - and. Source: www.techvibes.com

Kensington Capital Partners Opens Calgary Office to Tap Alberta's Energy Tech ... - Techvibes (blog)

While falling oil prices highlight the need for diversification in the Canadian economy, sectors that have long lived in the shadows of the oil and gas sector are starting to emerge. New technologies are revolutionizing the energy sector and Alberta could become a global leader, leveraging its position as a major oil and gas market. The industry's transformation is being driven by technologies that will help to diversify the economy while driving down costs and increasing environmental stewardship. This is why Kensington Capital Partners is opening a. Techvibes is Canada's leading technology media property. Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email. Source: www.techvibes.com

Latest News

  • Ideal conditions for more Vancouver tech IPOs as resource sector struggles

    06/19/15 ,via Edmonton Journal

    CALGARY - Vancouver's high-tech sector is poised to cash in on Canada's public listing boom. The combination of lower returns in traditional resource sectors, alongside a strong pool of tech companies valued in the hundreds of millions, has created

  • This Healthy Snack Instantly Removes Scratches On Wood Furniture

    03/04/15 ,via Huffington Post Canada

    If a major dent in your wood furniture is getting you bent out of shape, the foodie trick might not be your best bet. Instead, Apartment Therapy suggests steaming the dimple and then ironing it out. Just be sure to test the method in a hidden spot

  • Equity Crowdfunding Gets Green Light in Five More Provinces Including BC ...

    05/20/15 ,via Techvibes (blog)

    This regime addresses micro-capitalization needs and issues, which are more local in nature and sometimes industry-specific,” Louis Morisset, the chair of the Canadian Securities Administrators and the president and CEO of the Quebec securities

  • Kensington Capital Partners Opens Calgary Office to Tap Alberta's Energy Tech ...

    04/29/15 ,via Techvibes (blog)

    Kensington's new Calgary office will be headed by Michelle Scarborough, a Canadian venture capitalist with a track record in the energy technology sector. Scarborough is the Chair of the National Angel Capital Organization and the founder of the Women

  • Spark Innovation Centre Opens Incubator Space in Oshawa

    05/22/15 ,via Techvibes (blog)

    This is a wonderful opportunity for our innovative and technology based entrepreneurs to explore a unique way of conducting business,” said Councillor John Aker, Chair of the Development Services Committee. “I encourage all our innovative entrepreneurs 

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  • Cymax Appoints John Currie, Former lululemon athletica CFO to its Board

    05/06/15 ,via T-Net British Columbia

    Vancouver, BC, May 7, 2015--(T-Net)--Cymax Stores Inc., a leading e-commerce furniture retailer and technology innovator announced today the appointment of John Currie, former CFO of lululemon athletica Inc. to Cymax Stores Inc. Board of Directors.

  • Cymax Adds Kevin Layden, Former Best Buy Canada COO, to Board of Directors

    06/11/15 ,via Techvibes

    Cymax, a leading e-commerce furniture retailer and technology innovator ... “He was instrumental in the integration of Future Shop when acquired by Best Buy Inc. and as COO of Best Buy International was responsible for its international expansion ...

  • RTA Furniture Market in the US to Grow at a CAGR of 4.75% over the Period 2014-2019; Finds New Report

    07/06/15 ,via Digital Journal

    Key players in the RTA (Ready-to-assemble) Furniture Market in the US: Bush Industries, Dorel Industries, IKEA, Sauder Woodworking, Target and Wal-Mart Stores Other Prominent Vendors in the market are: Artiva USA, Cost plus World Market, Cymax, DMI ...

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