IPM Funds Inc. today announced that it plans to replace its outsourced venture capital consulting arrangements for its Terra Firma Funds with a more cost-effective in-house alternative.

IPM says the switch is designed to ensure strong venture capital investment management while carefully controlling expenses.

IPM says the Terra Firma Funds have a skilled management team in place. It adds that IPM, CastleHill Ventures and The Harbinger Ventures Group have agreed to terminate the existing consulting agreements with Terra Firma effective immediately.