Labour sponsored investment funds (LSIFs) tend to stick to provincial boundaries, but VenGrowth Capital Partners Inc. of Toronto, is moving into the national scene.

VenGrowth is offering the VenGrowth II Fund and VenGrowth Advanced Life Sciences Fund on a national basis for the first time this RSP season. The two funds, with combined assets of more than $550 million are offered in all provinces except Manitoba.

While investors will still receive up to 35% in federal and provincial tax credits in Ontario, investors in other provinces will be eligible for the 15% federal tax credit, says Ed Dermit, Vice President of Marketing at VenGrowth.

The reason we have decided to make the move nationally, says Dermit, is because of the high level of interest among both advisors and investors across the country.