What downturn? Ottawa-based online video ad provider Overlay.TV has raised another $4.6 million from private equity players EdgeStone Capital Partners, Celtic House Venture Partners and Tech Capital Partners.

Despite the recent stock market collapse, Overlay.TV closed the second round of financing from the trio of Canadian venture capital companies, all original investors in its interactive video platform for content producers like Nettwerk Music Group, Hollywood Records, KidzBop and Transcontinental Media.

Toronto-based EdgeStone earlier helped Wall Street investment bank Goldman Sachs & Co. take indie movie distributor Motion Picture Distribution LP private, and rename it Alliance Films.

EdgeStone subsequently sold its controlling stake in Alliance Films to Société générale de financement du Québec, the Quebec government’s investment arm, for $100 million.