Archives: Briefings

Clearco backer Intuit launches venture capital arm

The Silicon Valley-based financial-software company’s corporate venture arm will invest in areas such as “fintech, virtual expertise, consumer finance, omni-channel commerce, AI-enabled services and crypto/DeFi.” (The Logic)

OTPP buys reverse-mortgage bank from Birch Hill Equity Partners

The Ontario Teachers’ Pension Plan Board did not disclose the terms of the deal to buy HomeQ Corporation, the parent company of HomeEquity Bank. The Canadian firm offers reverse mortgages to homeowners aged 55 and up to tap into the value of their homes without selling. The deal is subject to regulatory approval. The pension board expects it to close in the first half of 2022. (The Logic)

U.S. should insource EV manufacturing to save jobs, report says

Washington, D.C.’s Economic Policy Institute estimated that without new policies, the U.S. could lose roughly 75,000 jobs by 2030 due to the electric-vehicle transition. Over the same period, it could gain over 150,000 jobs if policies promote U.S. production of EV powertrain parts and more U.S.-based vehicle assembly, the report says. (The Logic)

Telus International announces secondary offering

The Vancouver-based company said some of its shareholders, including Baring Private Equity Asia, will sell 12 million subordinate voting shares, with an expected option of an additional 1.8-million shares for the underwriters. (The Logic)

Toronto-Waterloo lands 14th in global ranking of startup ecosystems; Calgary makes ‘emerging’ list

Southern Ontario’s tech corridor tied with Chicago on Startup Genome’s list of great places to launch a tech business, rising four spots from 18th place last year—which the organization notes is one of the biggest climbs among top performers. Vancouver landed at 29th and Montreal tied with several other cities for 31st. Calgary slotted in a group ranked between 61st and 70th of emerging ecosystems. (The Logic)

Andreessen-backed Patch raises US$20.75M in Series A

The San Francisco-based company, which helps companies measure their carbon footprint and purchase carbon removal and offsets, said the round was led by Coatue Management. Existing investors Andreessen Horowitz, Vancouver’s Version One and Pale Blue Dot also participated. (The Logic)