GrowthWorks Canadian Fund Ltd.

GrowthWorks Canadian Fund Ltd.

October 07, 2009 14:01 ET

GrowthWorks Portfolio Companies Winners of Deloitte Technology Fast 50 Award

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2009) - GrowthWorks Canadian Fund is pleased to announce three of its portfolio companies were winners of the Deloitte Fast 50 Technology Award, a ranking of the 50 fastest growing Canadian technology companies based on the highest percentage of revenue growth over five years.

BTI Systems of Ottawa, Ontario placed 20th with revenue growth of 787% over the past five years. BTI was founded in 2000 to address the increasing demand for Ethernet services, greater optical capacity, dynamic networking, and management simplicity in service provider and enterprise networks.

Two places down the list is Netshelter Technology Media from Thornhill, Ontario. Another winner from the GrowthWorks Canadian Fund portfolio, Netshelter exhibited 761% in growth over the last five years. NetShelter brings together a publisher network of more than 150 tech content sites alongside owned-and-operated programs to offer marketers a platform to directly engage with tech audiences.

Camilion Solutions of Markham, Ontario which placed 33rd in the ranking had revenue growth of 499% over the same period. Camilion is a leading provider of product development solutions and next-generation policy administration systems for the insurance industry.

GrowthWorks Canadian Fund portfolio company OneChip Photonics was also a winner of the "Companies to Watch Awards".

"We are incredibly proud of seeing BTI Systems, Netshelter and Camilion Solutions receive Technology Top 50 Awards and OneChip Photonics' recognition as a Company-to-Watch," said Tim Lee, Senior Vice-President of GrowthWorks(ii). "Their ability to maintain stellar rates of growth, especially in these uncertain economic times, is a testament to the value of their product offerings and the capabilities of their world-class management teams."

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least five years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, and conduct research and development activities in Canada. A panel of industry experts evaluates and judges companies based on four key criteria: competitive advantage; size, growth, and market attractiveness; management effectiveness and organization; and financial performance. For a complete list of the winners or more information about the awards visit http://en.fast50.ca/winners.

About GrowthWorks (www.growthworks.ca)

GrowthWorks(TM) managed funds provide investment capital for Canadian companies and tax-advantaged investment opportunities for Canadian investors. GrowthWorks, Canada's leader in venture capital investing(i), manages approximately $1 billion in assets including $700 million in retail venture capital funds. Funds under management include the Working Opportunity Fund (EVCC) Ltd., GrowthWorks Atlantic Venture Fund Ltd., GrowthWorks Commercialization Fund Ltd., GrowthWorks Canadian Fund Ltd. and the Mavrix group of specialty mutual funds and flow-through investment funds. GrowthWorks' venture capital division identifies, analyzes and structures investments in companies with high growth potential. Particular emphasis is placed on IT, Life Sciences and Advanced Manufacturing sectors. Building on more than 17 years of investment expertise, GrowthWorks is a leader in Canadian venture capital management.

(i) Based on dollars invested by managed venture capital funds during the period January 1, 2008 to January 1, 2009 and excluding investments by government and government agencies and investments outside of Quebec. (ii)GrowthWorks refers to affiliates of GrowthWorks Ltd. and includes: GrowthWorks Capital Ltd, manager of the Working Opportunity Fund (EVCC) Ltd.; GrowthWorks WV Management Ltd., manager of GrowthWorks Canadian Fund Ltd. and GrowthWorks Commercialization Fund Ltd.; GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund Ltd., and Mavrix Fund Management Inc., manager of the Mavrix group of specialty mutual funds and flow-through investment funds. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in retail venture capital funds (RVCs). RVCs are not guaranteed; their values change frequently and past performance may not be repeated. Please read the prospectus of the fund(s) before investing.

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