VenGrowth Asset Management Inc.

October 17, 2008 17:10 ET

VenGrowth I Fund to be Capped to New Investments

TORONTO, ONTARIO--(Marketwire - Oct. 17, 2008) - VenGrowth Asset Management Inc. and its affiliates ("VenGrowth") today announced that The VenGrowth Investment Fund Inc. ("VenGrowth I Fund") will be capped to new investments from existing investors. The last date it will accept subscriptions from eligible investors is November 28, 2008.

Launched in 1995, VenGrowth I Fund was closed to both new and existing investors in 1999 to allow its venture portfolio to mature. In December 2006, VenGrowth I Fund was temporarily re-opened to existing shareholders to enable eligible investors to "rollover" their original holding in the maturing venture portfolio and generate the opportunity for new tax credits of 30%.

Drawing on more than 25 years of managing private equity investments for leading Canadian institutions, VenGrowth operates its retail venture capital funds in line with best management practices in the institutional arena. Venture funds are run as finite pools: a portfolio of investments is made; the portfolio companies are matured; exit opportunities are sought; and then capital is returned back to investors. As a mature fund with an established investment portfolio, the principal objective of VenGrowth I Fund is now to seek optimal exit values for existing portfolio companies and return capital back to investors.

VenGrowth I Fund has built a portfolio of some of Canada's leading venture-backed companies. The portfolio includes the likes of BelAir Networks Inc., named by Dell'Oro Group as the number one wireless Internet infrastructure company based on revenue for the last four quarters. The Fund also includes three companies recently included in Deloitte's Technology Fast 50 (list of fastest growing Canadian technology companies) in the form of BTI Photonics Systems Inc., Sandvine Corporation and Bridgewater Systems Corporation.

About VenGrowth

VenGrowth is dedicated to providing Canadians with superior, value-added investment alternatives through its affiliates VG Partners and Criterion Investments. Founded in 1982, VenGrowth today manages assets on behalf of over 200,000 individual investors as well as leading pension funds, banks, insurance companies and family foundations. VenGrowth's offices are located in Toronto (Corporate Headquarters) and Ottawa. For more information, please visit www.vengrowth.com.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the Fund before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Units of the Fund are sold through registered dealers.

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