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Other investors included Barclays Bank, RBC Ventures and BMO Capital Partners, as well as previous investors including OMERS Ventures, JPMorgan Chase and BDC Capital’s IT Venture Fund. The funds will be used to develop the next generation of TouchBistro’s restaurant point-of-sale (POS) software and new payment systems, and to expand into new markets. (The Logic)

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Talking point: The deal marks OMERS’s largest-ever investment in an early-stage Canadian company, and continues its recent trend of making larger tech investments: in 2017, only one of its investments was over $50 million, according to Crunchbase data. In 2018, OMERS invested $100 million in Hopper and $125 million in Berlin-based wefox Group. Lightspeed, which had its IPO in March, competes with TouchBistro’s restaurant POS system. My colleague Zane reported in May that the company was staffing up in Europe and Australia post-IPO. With the new funding allowing TouchBistro to expand internationally, the two firms will now have further opportunities to compete for restaurants’ business. Lightspeed’s stock was down over seven per cent in late afternoon trading.

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The Canadian venture firm’s first new fund, the Round13 Fund II, is being led by the Labourers’ Pension Fund of Central and Eastern Canada and two Canadian charter banks. The second new fund, Round13 Growth, aims to support five to 10 deals in the $20-million range. (BetaKit)

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Talking point: The Fund II has closed $128 million to date, and has a final target of $150 million to $175 million. Some 40 percent of Round 13’s first fund, created in 2017, is still to be invested, the firm has backed companies like TouchBistro, Bold Commerce and Hubdoc. The creation of this fund follows a decision by iNovia to create two of its own last year. The trend is indicative of Canada’s burgeoning tech ecosystem, according to Round13 managing partner Bruce Croxon, who said these new funds will help cut larger cheques to keep Canadian firms in Canada.