VenGrowth Asset Management Inc. and its affiliates y announced that Friday that VenGrowth Investment Fund Inc. (VenGrowth I Fund) will be capped to new investments from existing investors. The last date it will accept subscriptions from eligible investors is Nov. 28.

Launched in 1995, VenGrowth I Fund was closed to both new and existing investors in 1999 to allow its venture portfolio to mature. In December 2006, the fund was temporarily re-opened to existing shareholders to enable eligible investors to “rollover” their original holding in the maturing venture portfolio and generate the opportunity for new tax credits of 30%.

As a mature fund with an established investment portfolio, the principal objective of VenGrowth I Fund is now to seek optimal exit values for existing portfolio companies and return capital back to investors, Vengrowth says.

The portfolio includes the likes of BelAir Networks Inc., named by Dell’Oro Group as the number one wireless Internet infrastructure company based on revenue for the last four quarters. The fund also includes three companies recently included in Deloitte’s Technology Fast 50 list of fastest growing Canadian technology companies in the form of BTI Photonics Systems Inc., Sandvine Corp. and Bridgewater Systems Corp.

Founded in 1982, Toronto-based VenGrowth manages assets on behalf of over 200,000 individual investors as well as leading pension funds, banks, insurance companies and family foundations.

IE