VenGrowth Asset Management Inc. today announced that The VenGrowth Investment Fund Inc. has been re-opened to existing Ontario shareholders.

A flagship Canadian venture fund launched in 1995, VenGrowth I Fund has built a portfolio of some of Canada’s leading venture-backed companies. The fund was previously closed to both new and existing investors in 1999 to allow its venture portfolio to mature. The fund had net assets of $256 million and over 65,000 shareholders as at Nov. 30, 2006.

By re-opening the fund, VenGrowth is enabling eligible investors to “rollover” their original investment and generate the opportunity for immediate new tax credits of 30% in federal and Ontario tax credits.

“We’re extremely pleased to be able to reward the patience of our investors with the opportunity to generate further tax savings and remain invested in a portfolio with significant upside potential,” said David Ferguson, VenGrowth managing general partner.

“Over the past five years, the portfolio of private companies held by the fund has continued to strengthen and mature, to the point that the average annual revenue per company is now in excess of $40 million,” added Ferguson. “With an improving technology environment, we believe the fund’s portfolio companies are well positioned to be exited over the next several years by way of sale to strategic industry players or going public on a stock exchange.”

Investment advisors with clients that hold VenGrowth I Fund shares can contact VenGrowth at 1-877-789-7070 for more information.