Avrio Ventures Management Corporation

Avrio Ventures Management Corporation

November 02, 2006 09:00 ET

Avrio Ventures Pursues Canadian-based Industrial Life Sciences Opportunities

New Venture Capital Fund Announces Its First Closing

CALGARY, ALBERTA--(CCNMatthews - Nov. 2, 2006) - Avrio Ventures "Avrio" is pleased to announce the initial closing of Avrio Ventures Limited Partnership, an industrial life sciences venture capital fund. The fund intends to capitalize on the convergence of life sciences and industrial technology and will focus on Canadian commercialization to growth stage companies in three emerging sectors: industrial bioproducts, food technology and nutraceutical ingredients. Farm Credit Canada is the lead investor in the fund. Commitments at the first closing total $53 million with a second closing planned for later in 2007.

Avrio Ventures combines the experience and expertise of Canada's two leading industrial life science focused venture capital groups - FCC Ventures and Kirchner Investment Management Corporation ("KIMC"). "In bringing together the strong investment track record of FCC Ventures and the operational and transactional expertise of KIMC, we can draw on a wide range of skills to help our portfolio build the next generation of world class industrial life sciences companies right here in Canada," explain fund partners Jim Taylor and Aki Georgacacos.

Together, the partners of Avrio manage $150 million of assets in the industrial life science sector. "KIMC has been part of this sector for some time now," said W.B. "Bud" Kirchner, CEO of KIMC. "Avrio is a great opportunity for us to bring KIMC's value proposition together with that of FCC Ventures to support entrepreneurial companies that make a difference in our everyday lives with products such as the fuel we need and the food we consume."

Avrio Ventures is headquartered in Calgary, Alberta, with offices in Toronto, Ontario and Montreal, Quebec.

About Avrio Ventures

Avrio Ventures is an industrial life sciences venture capital firm dedicated to building world class Canadian industrial bioproducts, food technology and nutraceutical ingredient companies that will solve tomorrow's health, wellness and environmental challenges. For more information, please visit www.avrioventures.com.

About Kirchner Investment Management Corporation

Kirchner Investment Management Corporation ("KIMC") provides venture capital and private equity investment management and advisory services, as well as participates as a General Partner in funds through its proprietary capital management group. Through the collective experience of its team, which is composed of operators, fund managers and transaction specialists, the right mix of individuals are assembled to assist an investment fund or institutional investor achieve their investment objectives. KIMC is a member of the Kirchner Private Capital Group family. For more information please see our website at www.kirchnerimc.com.


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