JovFunds Management Inc. has completed a US$2.35 million investment in Tailwind Financial Inc., a special purpose acquisition company formed in the United States to acquire one or more businesses in the financial services industry.

Tailwind is listed on the AMEX under the symbol TNF.U.

JovFunds Management’s investment in Tailwind is via the purchase of 4.7 million common share purchase warrants at US$1 each by Parkwood Holdings Ltd., a Canadian company that is 50% owned by JovFunds Management.

These warrants have the same terms as those sold under the prospectus, including an exercise price of US$6 each per warrant.

Parkwood also holds approximately 3.5 million common shares of Tailwind, issued for nominal value. Gordon McMillan, Tailwind’s chairman, and Andrew McKay, Tailwind’s CEO, own the remaining 50% of Parkwood.

JovFunds Management provides investment solutions for Canadian investors through the creation, management and distribution of high quality investment products. As a member of the Jovian group of companies, JovFunds Management oversees the management and distribution of a diverse range of investment products and currently has over $1 billion in client assets.