Catherine McIntyre

Toronto

Reporter at The Logic

Reporter @the_logic, formerly @thismagazine, @cdnbiz, @macleans | [email protected]

Articles

BDC report paints bleak picture of Canada’s venture capital market

1 week ago | thelogic.co | Catherine McIntyre

TORONTO — Funding for Canadian startups is scarce and likely to get scarcer, according to a new report from the Business Development Bank of Canada (BDC), which paints a dire picture of the country’s venture capital market that’s been stifled by a trade war with the U.S. In its 2025 market report, BDC—a federal Crown corporation and the largest venture capital investor in Canada—describes weakening investment returns and companies running out of cash as deal making dwindles and VC investors...
Jane Software valued at $1.8B as it finalizes $500M raise: Report

1 week ago | thelogic.co | Catherine McIntyre

The B.C.-based software company is reportedly closing the deal this week led by Silicon Valley investment firm TCV. Existing Jane investors will sell secondary shares to TCV—also known as TCMI— rather than the company issuing new equity shares. Jane did not respond to The Logic’s request for comment. (The Globe and Mail)Talking point: Jane’s value is now three times higher than it was in 2021 when U.S. firm JMI bought more than US$100 million in shares in another secondary deal.
Caisse to invest nearly $15B in U.K. over 5 years

1 week ago | thelogic.co | Catherine McIntyre

Caisse de dépôt et placement du Québec CEO Charles Emond said the pension fund will increase its investments in U.K. assets by 50 per cent, as the government drastically ramps up infrastructure spending. (Financial Times)Talking point: “We’d like to be a partner of trust and choice in the U.K.,” Emond told the Financial Times, highlighting the “huge opportunity” to invest in the forthcoming slate of infrastructure projects in their early stages.
Mall owner Weihong Liu wants to take over Hudson’s Bay leases

2 weeks ago | thelogic.co | Catherine McIntyre

The B.C.-based billionaire is bidding on more than 20 Hudson’s Bay leases and would operate the stores under a new name, she said in a social media post. (Vancouver Sun)Talking point: Liu, the founder of real estate investment firm Central Walk—which owns Delta, B.C. mall Tsawwassen Mills—said she bid to acquire the insolvent retailer’s intellectual property. She lost to Canadian Tire, which will buy those assets, including the Bay’s iconic stripes branding, for $30 million.
Canada’s new tax plan could be a startup funding boon

2 weeks ago | thelogic.co | Catherine McIntyre

TORONTO — A made-in-Canada tax scheme that’s been a boon for mining companies could soon be used to try and spur investment in tech startups in the country. The tax policy, known as flow-through shares, was amongst those included in Prime Minister Mark Carney’s campaign platform in April. If made official policy, flow-through shares would be used to lure private investors to back research and development at early-stage companies in the same way investors fund exploration at potential mining sites.
Canada Pension Plan just ditched its net-zero target

2 weeks ago | thelogic.co | Catherine McIntyre

TORONTO — The Canada Pension Plan Investment Board, the country’s largest pension fund manager, has abandoned its commitment to achieve net-zero emissions by 2050, three years after pledging to scrub its business and portfolio of greenhouse gases. The pension fund, which manages over $714 million in assets on behalf of about 22 million Canadians, attributed the move to “recent legal developments in Canada,” though did not specify what changes that referred to.
Montreal-based Novisto raises US$27M round for ESG tracking platform

2 weeks ago | thelogic.co | Catherine McIntyre

Inovia Capital, also of Montreal, led the Series C round, with participation from all previous investors, including White Star Capital, SCOR Ventures and Sagard. The investment brings Novisto’s total funding to US$55 million since its founding in 2019. (The Logic)Talking point: The startup collects and manages a company’s sustainability data and compares it to industry benchmarks and its competitors. Its customers include Meta, Bombardier, Sanofi, Bell and Emirates Group.
Canadian Securities Exchange to buy Australian counterpart

2 weeks ago | thelogic.co | Catherine McIntyre

Canada’s junior stock exchange CSE has reached a deal to buy NSX, which operates the National Stock Exchange of Australia. CSE offered 3.5 Australian cents per share in the $14.4 million all-cash deal, representing a 59 per cent premium to NSX’s Friday closing price. It’s the CSE’s first acquisition since launching in 2003. (The Logic)Talking point: The CSE has reportedly been pursuing NSX for 15 years. Both indices serve similar issuers, many of them early-stage tech and resource-sector firms.
Battery-tech firm Li-Cycle files for bankruptcy protection

3 weeks ago | thelogic.co | Anita Balakrishnan |Catherine McIntyre

TORONTO — Li-Cycle is under bankruptcy protection in Canada after failing to raise financing needed to rescue its global battery-recycling business. The proceedings cap a tumultuous two years for the company, once expected to be a key link in the North American electric-vehicle supply chain. It’s faced a string of financial and logistical challenges in recent years that have tanked its valuation and stalled operations.
Loblaw CEO warns some grocery prices could spike as pre-tariff inventory runs out

3 weeks ago | thelogic.co | Catherine McIntyre

Chief executive Per Bank said products affected by tariffs could rise from about 1,000 now to more than 3,000 within the next two weeks. That number could climb above 6,000 within two months, he said in a LinkedIn post. “While the tariff situation might be improving between the U.S. and other countries, that’s not yet the case here in Canada,” he wrote. (The Logic)Talking point: Loblaw-owned grocery stores have been marking tariff-affected products on their shelves with a T.