GrowthWorks WV Management Ltd. has finalized its acquisition of Fullarton Capital Corporation.

Fullarton is manager of Capital Alliance Ventures Inc. and the Canadian Science and Technology Growth Fund Inc. The deal brings GrowthWorks’ assets under management to approximately $800 million.

CAVI and CSTGF are labour-sponsored investment funds that invest primarily in private technology companies in Ontario and across Canada, respectively. It is anticipated that each of CAVI and CSTGF will seek shareholder approval to merge operations in the fall of 2005 with GrowthWorks Canadian Fund Ltd.

Effective with the close of the transaction, GrowthWorks assumed sales and marketing responsibilities for both CSTGF and CAVI. And GrowthWorks expects to assume back office and administration responsibilities for both funds in the fall.

“We are very pleased with the addition of these funds to GrowthWorks’ growing portfolio of labour-sponsored investment funds,” said David Levi, president and CEO of GrowthWorks, in a news release. “We expect our proven track record and management expertise in the asset class will benefit current shareholders of CAVI and CSTGF.”