GrowthWorks WV Management Ltd.

GrowthWorks WV Management Ltd.

April 11, 2007 15:54 ET

GrowthWorks Commercialization Fund Invests in Octopz Inc.

TORONTO, ONTARIO--(CCNMatthews - April 11, 2007) - GrowthWorks Commercialization Fund announced today that it recently completed an investment in Toronto software company, Octopz Inc., which offers an advanced, on-demand online collaboration software platform to business users. The funding will be used to build on the company's technology and expand sales and marketing initiatives.

"The Octopz team has developed an extremely compelling collaboration platform that we believe has significant potential to facilitate business around the world," said Les Lyall, Senior Vice President of GrowthWorks. "Our investment in the Octopz team further demonstrates our commitment to funding the development of seed stage technology companies, and working with partners such as the MaRS Discovery District to support commercialization in Ontario."

Octopz enables people to work - in real time or asynchronously - with customers, colleagues and suppliers around the world. The result is increased productivity through improved decision making and enhanced speed-to-market.

"We are delighted to partner with GrowthWorks and to have their commitment, support and expertise as we take Octopz out of the R&D phase and into the marketplace," said Barry Fogarty, CEO of Octopz Inc. "We're all extremely pleased with the positive response Octopz has received from our partners and pilot users - including some of the leading retail organizations in Canada."

Headquartered at the MaRS Discovery District, a convergence innovation centre based in Toronto, Octopz is the one of the first companies at MaRS to receive venture funding. "MaRS is proud to work with emerging companies like Octopz which has the capability to compete at a global level," said Dr. Ilse Treurnicht, CEO of the MaRS Discovery District. "This round of funding is an important milestone that will position the company for continued success."

About Octopz Inc.

Octopz Inc. (www.octopz.com) is developing next generation on-demand, online collaboration technologies built specifically for today's creative professionals. With fully integrated support for text messaging, VoIP and webcams, Octopz allows colleagues and partners anywhere in the world to work together securely in real-time, or individually at their own convenience, using multiple document types, and then save and archive their work for easy retrieval, review and critical feedback. The result is accelerated decision making and speed-to-market - a significant competitive edge.

About GrowthWorks

GrowthWorks(i) (www.growthworks.ca) is a recognized leader in venture capital fund management with proven experience in the raising and managing of capital. GrowthWorks™ managed funds have $800 million in combined assets and include the Working Opportunity Fund Ltd., GrowthWorks Canadian Fund Ltd., GrowthWorks Commercialization Fund Ltd. and GrowthWorks Atlantic Venture Fund Ltd. GrowthWorks has a team of skilled and knowledgeable investment professionals with a combined 200 years of experience. The investment team has a proven track record of identifying, analyzing, and structuring investments in emerging sectors. GrowthWorks is a registered trademark of GrowthWorks Capital Ltd.

(i)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., and GrowthWorks Atlantic Ltd., manager of GrowthWorks Atlantic Venture Fund 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 before investing.

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