📈 Canada Deal Flow News – 2025-11-12

Valuations hold firm as buyers chase scale, sticky revenue, and AI edge

🇨🇦 National Deal Watch

Canadian private equity is smashing records as billion-dollar buyouts surge. Buyers are writing bigger cheques for scale and margin resilience—benchmark your business now or risk being left behind. Read more

Stingray Group buys TuneIn for up to $175M, setting a fresh comp for digital media and SaaS exits with scale and sticky users. Audience aggregation and content rights are driving premium prices. Read more

Glowtify closes a $3.4M seed after hitting $1M ARR, aiming to triple revenue. Early-stage SaaS fundraising is getting tougher—traction and a sharp growth story are now table stakes. Read more

🍁 Ontario & Québec Investments

DAVIDsTEA locks in $5.7M—split between equity (from Pembroke and insiders) and revenue-linked debt—to fuel new stores. Specialty retail brands are blending equity and non-dilutive capital for growth. Read more

Milestone Pharmaceuticals stacks $82.6M in cash via equity and a royalty deal, prepping for a U.S. launch and FDA milestone. Creative capital stacking is setting the tone for pharma exits. Read more

CIBC Innovation Banking backs Vessel to modernize fund finance. No terms, but institutional validation and access to bigger credit lines are in play—reminder that bank partnerships can unlock scale for B2B fintechs. Read more

Azimut and SOQUEM sell Quebec’s Pikwa Property to PMET Resources, a cross-border resource consolidation play. International buyers are still hunting for strategic assets with scale. Read more

🌐 Cross-Border Connections

VC is shifting to fewer, larger rounds—growth-stage companies are pulling in bigger cheques while early-stage lags. Hit your growth and margin milestones before going to market. Read more

Baltic PE: INVL Private Equity Fund II takes 75% of Estonia’s EKT, the top waste management player. Control deals in essential services show buyers will pay up for market leadership and sticky cash flow. Read more

Wise now powers cross-border transfers for Wealthsimple, highlighting demand for seamless international payments. Fintechs with proven rails and global reach are in demand—double down on compliance and efficiency. Read more

Founder pulse:
Disclosed deal prices and fundraising rounds are your best comps. If you’re eyeing a raise or exit, get your numbers and story tight—traction and margin resilience are what’s commanding premium multiples.