FAN’s TitanFile Funding Oversubscribed

TitanFile Inc.’s decision to seek financing from the First Angel Network of Halifax has resulted in an oversubscription of the offering by 86 percent – one of the strongest responses in the history of the angel group.

Dartmouth-based TitanFIle, an award-winning online document transfer company, announced Thursday that it has raised about $1.2 million that it will use to roll out a new product – a secure document-sharing and collaboration software that focuses on ease-of-use and flexibility.

Last year, TitanFile, co-founded by CEO Milan Vrekic and CTO Tony Abou-Assaleh, raised $250,000

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Keefe to Manage Regional VC Fund

The Atlantic regional venture capital fund will be managed by Patrick Keefe, now the Vice-President of Investment at Innovacorp, and include a $5 million contribution from Technology Venture Corp. of Moncton, the three Maritime Provinces announced Wednesday.

The provinces said they will launch the fund with an initial capital of $37.5 million, including investments of $15 million from both Nova Scotia and New Brunswick and $2.5 million from Prince Edward Island. Nova Scotia Premier Darrell Dexter initiated the fund last year by announcing his province’s contribution and inviting the other

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Karma team launches Dystillr

In launching their new casual gaming analytics tool dystillr, two Karma Gaming execs have used the technology to unveil some troubling trends at the world’s largest social gaming company, Zynga Inc.

Jay Aird and Duncan Gillis have posted a report on the new company’s website titled “Volatility in Zynga’s Core Genre”, which points out the San Francisco-based gaming giant is suffering from its dependence on the declining simulation game market, which has declined 53 percent in just under three years.

Aird got together with Paul LeBlanc in 2011 to form Karma Gaming, a company that

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Jevon MacDonald in Progress Magazine

The cover story of this month's Progress is my story on Jevon MacDonald's adventure in Silicon Valley, where he spent months raising his A Round for GoInstant. In the story, MacDonald pooh-poohs the rumours that he hit up existing contacts for money. Virtually everyone who invested was someone he met last year through sheer gumption. His advice is that if you're going to tap California funders

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Changing Lives Via Entrepreneurship

Like so many other people with health issues, singer-songwriter Peggy Gillis found the recovery from illness was an economic struggle as well as a physical toil. That was why she turned to the Entrepreneurs with Disabilities Network, or EDN, for some help.

“I’ve had to start from scratch because when you get sick it robs you of all your finances,” said Gillis in an interview last week.

A few years ago, Gillis made extra money by selling her songs through the pay-per-play website, but then she was felled by illness, suffering from chronic fatigue, environmental sensitivities and

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NL, Feds Courted for VC Fund

The news Thursday that Prince Edward Island will invest $2.5 million in the Regional Venture Capital Fund is just one of many signs that the fund’s organizers are actively courting more sources of capital.

Three sources familiar with the talks say that the government of Newfoundland and Labrador, which was thought during the summer to have declined to participate, is once again in talks about investing. And the organizers, led by Innovacorp, have been lobbying the federal government to contribute some of the $400 million in VC funding announced in the last federal budget.

The P.E.I.

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EventLift Preps for December Launch

Having bootstrapped for more than a year, Todd Thompson is preparing for a launch late this year of EventLift, an SaaS product that enhances contests by broadcasters or at events.

Based in the Halifax suburb of Hubley, N.S., EventLift simplifies the process of holding contests and allows the hosting organization to enhance its relationship with contestants. Thompson started the company last year as PhoneDJ to target contests on radio and TV, but broadened the scope of the product to include live events like concerts or sports events.

Thompson now works as head of marketing at the Steele

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DMR Pioneering ‘Bone Glue’ Device

Having raised $700,000 in equity financing, Dartmouth Medical Research is poised to commercialize a “bone glue” apparatus that it hopes to test on cranial procedures in about two years.

The Halifax-based company has licensed two patents from the University of Massachusetts that apply to a sort of glue gun that hot-melts two pieces of bone together, replacing the need for plates and screws. DMR also has three patents on its own.

Interim CEO Steve Arless, a former Ernst & Young Entrepreneur of the Year in the life sciences segment,  presented the company at the BioInnovation Challegnge at

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Angels Sink $300K into Scene Sharp

Scene Sharp Technologies Inc., a Fredericton software company that improves the quality of colour digital photography, has closed a $300,000 round of angel financing, which it hopes will help to commercialize a new product for security cameras.

President Ian Lucas said in an interview yesterday that the company received backing from enough Atlantic Canadian angels to close the seed round last week. However, he will still be canvassing possible investors and hopes to raise an additional $1 million in the next year.

Scene Sharp is the corporate body set up to commercialize the research of

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Pond: We Need Regionalization

It was appropriate to have breakfast with Gerry Pond on the morning of Invest Atlantic last week, for it was during the same event a year earlier that I first heard him speak about the need for a regional entrepreneurial community.

So, just after sunrise on Wednesday, I met with Pond, the head of East Valley Ventures, and his COO Jeff White, to discuss where we are and where we’re going, with the regional ecosystem for entrepreneurship, innovation or whatever you want to call it.

A year earlier, Pond had been the Chair of Invest Atlantic, having been invited after his portfolio company

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