The organization that funds partnerships between public researchers and the private sector has more applications than usual and less funding from the Ontario government than it needs, so it’s stopped saying yes to proposals from that province, a spokesperson told The Logic. (The Logic)
The Ottawa-headquartered vendor of productivity software said it’s focused on giving knowledge workers the freedom to work wherever and however they want. Evidently, this calls for a change to the name the company has had since it was founded in 1985. (The Logic)
The Montreal-based VC firm will cap fundraising at $500 million, and make eight to 10 investments of $25 million to $75 million in energy storage, renewable power and EVs. New investors include Desjardins, Investissement Québec, TD Bank and National Bank of Canada, along with family offices. The fund will focus on North American cleantech companies, with 80 per cent in Canada—half of which will likely be Quebec companies, according to Idealist Capital co-managing partner Pierre Larochelle. (The Logic)
Seven Seven Six, Reddit co-founder Alexis Ohanian’s fund, led Doodles’s first round. The company said the raise values it at US$704 million. Crypto exchange FTX’s venture arm, 10T Holdings and Acrew Capital also participated. (The Logic)
Alex Mashinsky recently outlined a plan to employees to revive the company, which filed for bankruptcy in July. He proposed focusing on storing cryptocurrency and charging transaction fees, according to a recording of the event obtained by The New York Times. (The New York Times)
The full-scale North American International Auto Show, considered one of the most influential showcases with its Detroit-based auto-executive attendees, will resume for the first time since January 2019 with an industry and media day on Wednesday, which U.S. President Joe Biden plans to attend. The event opens to the public over the weekend. (The Logic)
The San Francisco-based company said Energize Ventures led the round. New and existing investors, including Andreessen Horowitz and Version One Ventures, also participated. (The Logic)
The Liberals’ first orders of business when Parliament sits again will be bills that double the GST tax credit for six months, give up to $650 for dental care for children under 12 who don’t have other coverage and send $500 to renters struggling with housing costs, Justin Trudeau said. (The Logic)
The Toronto-based Ethereum-focused investment firm will continue to hold a minority stake in the cryptocurrency-payments company, following the collapse of online-checkout company Bolt Financial’s proposed US$1.5 billion acquisition of the firm. (The Logic)
The move by Visa, Mastercard and American Express follows an International Organization for Standardization decision to implement a similar code, which will make it easier for authorities to flag gun purchases. (The New York Times, Bloomberg)