Archives: Briefings

World Bank won’t help El Salvador with Bitcoin transition

The international financial institution said it will decline the country’s request for technical assistance to make the cryptocurrency legal tender. It cited concerns over “environmental and transparency shortcomings.” (Reuters)

BDC spinout Amplitude Ventures closes $200M precision-medicine fund

Limited partners in the oversubscribed fund include RBC, the Alberta Enterprise Corporation, and U.S. firm Alexandria Venture Investments and Paris-based Cathay Capital. RBC’s investment was led by RBC Capital Markets and RBCx, its new tech-focused lending platform that launched earlier this week. (The Logic)

Alphabet’s Waymo raises US$2.5B from backers including CPP Investments

The Canada Pension Plan Investment Board joined Alphabet, Andreessen Horowitz, Magna International, Silver Lake and Tiger Global, among others, in the Google sister company’s second external funding round. CPP Investments and Magna also previously participated in the self-driving car company’s May 2020 Series A. (The Logic)

Fredericton-based Introhive closes $100M Series C

PSG, a Boston-based growth equity firm, led the round in the AI-powered sales and marketing company. Existing investors including BDC Capital, Aegis Group Partners, Evergreen Coast Capital and Mavan Capital Partners also participated. (The Logic)

PwC to spend US$12B for 100,000 new ESG jobs

The hiring spree is part of the accounting firm’s push to bolster its environmental, social and governance expertise over the next five years. The new hires will add to PwC’s 284,000 current global workforce; they’ll come from mergers and acquisitions as well as recruiting talent from competitors. (Reuters)

GM boosts spending on EVs, AVs to US$35B through 2025

The spending estimate for new U.S. battery plants, hydrogen-powered heavy trucks and Cruise autonomous vehicles is up from US$27 billion announced in November 2020, amid expectations that the company will post better-than-expected second-quarter results. (The Logic)

Ottawa’s Hub350 tech hub to launch 5G innovation centre

Telus will be the anchor partner in the new 5G Innovation Zone. The centre will bring together industry, academic and finance partners to collaborate on real-world applications of 5G technology, like self-driving vehicles, medical technologies and manufacturing automation. (The Logic)