Here are the top reads,
Callidus loss: Callidus Capital Corp.’s net loss worsened in the fourth quarter of 2017 as it took a big hit on a loan to a troubled energy firm, the lending firm said late Monday. Story (Jeff Jones)
Packaging sector: Transcontinental Inc said it would buy the U.S. packaging business of Coveris Holdings S.A. for $1.70 billion as the Canadian publisher looks to join other top North American companies in the flexible packaging space. Story
DEAL WRAP
Tech IPOs: Spotify Technology SA’s unusual route to becoming a public company is a test case for other multibillion-dollar tech companies that are looking to sell their shares but are not in need of cash. Story
Canadian venture capital: OneEleven, the Toronto-based technology startup accelerator backed by OMERS Ventures, is expanding to Ottawa and Vancouver this year, and aims to open in Boston and in Europe soon after. Story (David Ebner)
Canadian venture capital: Many of your friends probably have their own hangover concoction they swear by, but one company is working to be the real deal. Morning Recovery — a drink founded by a University of Waterloo grad and ex-Tesla engineer promising to cure your hangover — has announced a Series A of $10 million at a $42 million valuation. BetaKit
U.S. venture capital: SiFive has raised US$50.6 million in a third round of funding to further its ambition to create a new licensing model for the semiconductor industry. VentureBeat
OBITUARY
Entrepreneur: Samuel Belzberg, a feared corporate raider of the 1980s who perfected the contentious practice known as greenmail to build one of Canada’s foremost family dynasties, then reinvented himself as a successful private-equity investor, died Friday night in a hospital in Vancouver. He was 89. Story
WHAT WE’RE READING ELSEWHERE
Fintech: The U.S. Securities and Exchange Commission has charged the founder of Mozido, a financial technology firm that a few years ago attracted funding from Tiger Management founder Julian Robertson Jr., of defrauding investors out of more than US$48 million. Michael Liberty engaged in a scheme to “trick hundreds of investors into investing in his shell companies instead of Mozido,” raising more than $48 million according to an SEC statement Monday. Institutional Investor
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A Bay street sign is seen in Toronto’s financial district.Mark Blinch/The Globe and Mail