Blockchain
Canada’s Best Managed Companies define purpose to glean competitive edge
Deloitte announces the winners of the 2020 Canada’s Best Managed Companies awards program, recognizing excellence in privately-owned Canadian companies with annual revenues over $25 million. With 26 new winners in 2020, this year’s companies credit success to investment in talent and technology, innovation in a competitive environment, and intent to compete on the global stage. This year’s Best Managed winners are also putting a laser focus on prioritizing organizational purpose.
“In 2020, the bar is raised even higher for Best Managed companies as the program continues its expansion beyond Canadian borders, now in 21 countries worldwide,” said Peter E. Brown, National Co-Leader of the Canada’s Best Managed Companies program and Partner, Deloitte Private. “As the network of Best Managed companies continues to grow, the stakes get higher – as these companies are increasingly aware of their competition, globally. This year’s select group of winners should be especially proud of their achievements and of this designation.”
As Canada’s Best Managed Companies continue to find success, a common theme among winners is their commitment to defining organizational purpose. By defining and implementing purpose throughout all levels of business, this year’s winners are gleaning the competitive edge that comes with leading and doing business in a purpose-led environment.
“Defining purpose is not just a goal of large organizations, it is increasingly valuable in the evolving workforce – it’s equally important to employees and customers,” said Kari Lockhart, National Co-Leader of the Canada’s Best Managed Companies program and Partner, Deloitte Private. “By doing so, this year’s Best Managed companies are fostering healthier workplaces, closer communities, and stronger foundations to help guide successful, collaborative decision-making.”
Another redeeming quality that never wavers among Best Managed award recipients is their extraordinary commitment to their clients and customers. “Year over year, a clear and concise strategy and approach to customer service is what puts these companies head and shoulders above the rest,” added Lockhart.
Best Managed winners are also finding success by continuing to act, invest, and make important decisions amid economic uncertainties, a recurring topic explored in Deloitte’s ‘Disrupting the Bear‘ series. Investment in areas such as R&D or creating proprietary tools contributes to strong growth and financial performance, contrary to organizations that may halt movement or wait until markets stabilize.
“As a long time sponsor of Canada’s Best Managed Companies, CIBC is proud to recognize this year’s winners, who have consistently demonstrated exceptional business performance in a constantly changing world,” said Dino Medves, Senior Vice President and Head, CIBC Commercial Banking. “Best Managed Companies showcase outstanding leadership in their respective industries, with a clear strategy that is focused on investing for long-term success and growth.”
Best Managed is a flagship program presented by Deloitte Private, a division of Deloitte exclusively focused on serving private clients of all sizes. Generation after generation, Deloitte Private has been by the side of the entrepreneurs transforming Canada’s economy – and under its wing, the Best Managed program includes 469 companies, offering a strong network to support the 26 winners of 2020. The network continues its expansion beyond Canadian borders, now with presence in 21 countries globally.
Here is the list of the new Best Managed winners in 2020:
Company |
City |
Province |
Industry |
Acadian Construction |
Dieppe |
NB |
Construction |
AirSprint Inc. |
Calgary |
AB |
Transportation |
Bee-Clean Building Maintenance |
Edmonton |
AB |
Business services |
Behaviour Interactive |
Montreal |
QC |
Media |
Chambers Transportation Group Ltd. |
Vernon |
BC |
Transportation |
Champion Petfoods |
Edmonton |
AB |
Manufacturing |
COFOMO |
Montreal |
QC |
Technology |
Conestoga Meats |
Breslau |
ON |
Food Processing |
Englobe Corp. |
Quebec |
QC |
Engineering & Architecture |
FYidoctors |
Calgary |
AB |
Healthcare |
Henry’s |
Toronto |
ON |
Retail |
Ironclad Developments Inc. |
Springfield |
MB |
Construction |
Marco Group of Companies |
St. John’s |
NL |
Construction |
Mattamy Homes |
Toronto |
ON |
Real Estate |
mform Construction Group |
Toronto |
ON |
Construction |
Modern Beauty Supplies |
Calgary |
AB |
Whole Sale Distribution |
Mondou, membre du Groupe Legault |
Montreal |
QC |
Retail |
Morbern Inc. |
Cornwall |
ON |
Manufacturing |
Naylor Building Partnerships Inc. |
Oakville |
ON |
Construction |
Nuvei Technologies Corp |
Montreal |
QC |
Fintech |
QSL |
Quebec |
QC |
Transportation |
Quinlan Brothers Ltd. |
Bay de Verde |
NL |
Seafood Processing |
RAPTOR Mining |
Edmonton |
AB |
Manufacturing |
Rockwood Custom Homes |
Calgary |
AB |
Construction |
TECHO-BLOC INC |
St-Hubert |
QC |
Manufacturing |
The Inland Group of Companies |
Truro |
NS |
Airport Environmental Compliance & Ground Support |
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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