Vengrowth Private Equity Partners Inc.

Vengrowth Private Equity Partners Inc.

March 11, 2008 08:30 ET

VenGrowth Funds Invest in OnCorp Direct Inc.

VenGrowth backs leading online provider of public record search and registration services.

TORONTO, ONTARIO--(Marketwire - March 11, 2008) - VenGrowth Private Equity Partners Inc. and its affiliates ("VenGrowth"), a premier Canadian private equity firm, today announced a $6.8 million investment in OnCorp Direct Inc. ("OnCorp"). The financing was completed by the VenGrowth Traditional Industries Group.

The VenGrowth Traditional Industries Fund Inc., The VenGrowth III Investment Fund Inc. and VG Mezzanine I Limited Partnership have invested in OnCorp.

OnCorp is a leading provider of online search and registration services to the legal, financial and business communities, as well as government bodies and the general public.

"Our investment in OnCorp will solidly position the company to continue to reach its growth objectives," said John Neate, Director at VenGrowth. "We're pleased to be working with OnCorp's top-notch management team, which has a strong reputation in the delivery of public record information."

"It has been a pleasure working with VenGrowth", states Eric Tong, Business Manager, OnCorp Direct Inc. "Our partnership enables us to continue our mission of providing superior business services through innovation and exceptional client care."

About VenGrowth Traditional Industries Group

VenGrowth Traditional Industries Group specializes in financing solutions for mid-market Canadian companies in traditional manufacturing and services industries that are expected to generate sustainable cash flows. The Group primarily invests using debt instruments with the objective of generating interest and dividend income to participating VenGrowth Funds. In addition, the Funds will typically hold equity interests alongside the loans with the intention of generating long-term capital appreciation. Formed in 2003, the Group had invested over $130 million into 18 companies as at January 1, 2008. The Group is led by Graham McBride, a highly regarded mezzanine financing expert with over 20 years of experience.

About OnCorp Direct Inc.

With a 10-year history, OnCorp has established a strong reputation as a provider of electronic access to public record information and government document filing services. The company's well-diversified customer base includes law firms, banks, accounting firms, corporations, private investigators, government bodies and the general public.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of The VenGrowth III Diversified Fund Inc. or The VenGrowth Traditional Industries Fund Inc. before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Contact Information

  • Media Inquiries:
    VenGrowth Asset Management Inc.
    Tanya Gallus, Communications Specialist
    (416) 628-9238
    Email: tgallus@vengrowth.com