The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: JLA Ventures

First Two OETF Investments: ecobee and Bering Media

Ontario’s $250 million Emerging Technologies Fund has closed its first two investments, participating in a $6.73 million round from smart grid company ecobee and a Series A round of undisclosed size from location-based ad company Bering Media.  I am proud to report that Ogilvy Renault, led by Senior Partner Jay Lefton, acted for ecobee in connection with its financing.

Interestingly, the portfolio companies page at OETF lists four “conditionally approved” investments, so perhaps we should stay tuned for two more announcements.

More tidbits: the Qualified Investors page now lists Celtic House (no OETF deal yet?), JLA Ventures (the QI for the ecobee deal), Tech Capital (the QI for the Bering deal and an ecobee investor) and XPV Capital (no OETF deal yet?).

The OETF mandate includes (1) clean technology, (2) life sciences and advanced health technologies, and (3) digital media and information and communications, with (1) and (3) covered by these first two deals.  Look forward to seeing (and working on) some life sciences deals from the OETF.

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Ontario Venture Capital Fund Does Direct Investments Too, But Still No Biotech

A press release today about I Love Rewards’ $8.7 million B round serves to remind everyone that the Ontario Venture Capital Fund has 20% of its $205 million allocable to direct co-investments.  Well, it did, at least.  Now it has $1.8 million less.

Other investors in ILR’s B round were GrandBanks Capital, out of Boston, and prior investors JLA Ventures and Laurence Capital.

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