In a Financial Post op-ed, John Graham assured the 21 million pension contributors and beneficiaries that the fund’s long-term, active management means their retirement savings are stable, even if markets aren’t. “We’re not chasing fad investments that might be the hottest, latest thing in markets one day, only to come crashing down the next,” he wrote. “We’re investors, not speculators.” (Financial Post)
Mistral Venture Partners and Uncorrelated Ventures led the round in the Toronto-based company, with participation from new investors Luge Capital and Blue 9 Capital and existing investors Revel Partners. Buckzy plans to use the funding to enter new markets and expand its products. (The Logic)
Creditors have sought legal advice on how to avoid suffering the fate of FTX, the failed Bahamas-based cryptocurrency-trading platform that is now involved in a messy bankruptcy proceeding, Bloomberg reported, citing sources familiar with the matter. (Bloomberg)
AWS Supply Chain is an application within the Amazon Web Services cloud-computing suite that promises to ingest data from existing goods-management systems and return “actionable insights to help businesses optimize supply chain processes and improve service levels.” (The Logic)
Transferring risk is a big benefit in the popular model for infrastructure projects, but “P3s” can be inflexible, the judge examining Ottawa’s light-rail debacle reported. If something goes wrong and the public partner seeks to enforce its contract rights, Justice William Hourigan found, that can undermine a relationship that’s meant to serve the public for decades. (The Logic)
The Ottawa-based company secured US$10 million in convertible notes from existing investor Quantum Energy Partners and US$4.5 million in venture debt from Silicon Valley Bank. (The Logic)
Oilsands producer Cenovus Energy contributed the initial $750,000 to the fund, which will “provide early-stage risk capital to emerging energy transition technologies,” according to a statement. (The Logic)
The Vancouver-based firm is building robots with human-like cognition. The partially-repayable federal contribution will help finance a $120.8-million R&D project. (The Logic)
University of Waterloo alum and former Instacart CEO Apoorva Mehta has been transitioning out of the food-delivery firm as it prepares to go public. His new venture, Cloud Health Systems, plans to offer medical consultation and other health services. The round reportedly valued the firm at US$200 million and included funding from Thrive Capital and Greenoaks Capital, a venture firm that has backed discount trading platform Robinhood. (The Wall Street Journal)
The representation of women working in the country’s technology industry ticked up from 33.2 per cent in 2021 to 35.8 per cent in 2022, according to a nationwide survey by Vancouver-based Tech and People Network. “It’s a small but compelling increase,” said TAP CEO Stephanie Hollingshead. The data is based on a poll of 123 employers on over 10,000 employees’ self-identified demographics. (The Logic)