VenGrowth Asset Management Inc. today announced its intention to re-open VenGrowth Investment Fund Inc. to existing Ontario shareholders. VenGrowth I was previously capped to new investors in December 1999.

The fund’s board of directors has approved a resolution to commence distribution of Class A Shares. A preliminary prospectus is now being prepared with a view to re-opening the fund later this year.

“VenGrowth I Fund is a flagship venture fund that has been investing since 1995 in some of what we consider to be the best private companies in Canada,” said David Ferguson, VenGrowth Managing General Partner, in a news release.

“The fund now has a portfolio of mature venture-backed companies seeking opportunities to realize on the value that they have built. We believe that re-opening the fund is in the best interest of shareholders and will enable loyal investors to rollover their existing investment, generate new tax credits and remain invested in a mature portfolio with significant upside potential.”