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Tech financings draw big interest

Business owner Alexander Fernandes knows a thing or two about growing companies. The Vancouver serial entrepreneur has done it four times, most recently as CEO of Avigilon Corp., which makes high-definition surveillance systems.

Rafal Gerszak/rafal gerszak The Globe and Mail

Things have turned 180 degrees in the financing markets as small mining and energy stocks are in the dumps and technology financings are drawing healthy interest .

This week saw two oversubscribed deals for technology companies.

Toronto Stock Exchange-listed Avigilon Corp. raised $23-million, more than the $20-million originally planned, in a transaction led by GMP Securities. Avigilon, which makes video surveillance gear, has been a solid performer in a tough market. Since going public late last year for $4.50 a share, the company has steadily risen in value. This week's stock sale was at $6.40 a share.

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Spectra7 Microsystems brought in $11-million from three venture capital firms in a convertible debenture financing. Spectra7 is in the process of going public through a reverse takeover of a shell corporation.

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