TORONTO, March 24 /CNW/ - The Ontario Venture Capital Fund (OVCF) today
announced that it has made a commitment of up to $15 million to Georgian
Partners Growth Fund I (Georgian Partners), an Ontario-based venture capital
fund focused on expansion stage companies, including high-potential Ontario
companies in the information technology, information aggregation, and
enterprise software sectors.
    "Our commitment to Georgian Partners is the first in what will be a
series of commitments from OVCF to Ontario-based and Ontario-focused venture
capital funds," said Ian Carew, Vice President of TD Capital Private Equity
Investors, the manager of OVCF. "OVCF's long-term strategy is to construct a
portfolio of high-potential managers with sufficient scale and resources to
execute their plans and deliver world-class returns, and we're pleased to
include Georgian Partners as part of the OVCF portfolio."
    By providing capital to promising Ontario funds, OVCF seeks to strengthen
the ability of the province's venture capital sector to support innovative,
high-growth companies in Ontario by making it easier for them to find the
capital, expertise and support they need. Georgian Partners will apply its
deep domain knowledge and proven global operational expertise to identify
suitable companies, conduct due diligence, and - post investment - help
companies achieve their growth potential. As Georgian Partners' lead investor,
OVCF will actively assist Georgian Partners in raising the balance of the
capital required to reach a first institutional close, a condition of OVCF's
commitment.
    "Venture capital is an important sparkplug in Ontario's economic engine,"
adds Carew. "The ongoing work being done by the Ontario Venture Capital Fund
serves as a catalyst in its efforts to create a profitable, globally
competitive and self-sustaining venture capital industry in Ontario."
    "We are delighted to have the support of OVCF as our lead investor,
especially during this difficult fundraising cycle," said Justin LaFayette,
founder and Managing Director of Georgian Partners. "The OVCF's willingness to
provide patient capital and act as a true partner by providing guidance,
mentorship, and facilitating introductions to potential investors are all
value added resources that we are grateful for."

    About the Ontario Venture Capital Fund

    The $205 million Ontario Venture Capital Fund is a joint initiative
between the Government of Ontario and leading institutional investors to
invest primarily in Ontario-based and Ontario-focused venture capital and
growth equity funds that support innovative, high growth companies. OVCF is
structured as a fund of funds with the primary objective of generating
attractive returns for its investors. The Fund is managed by TD Capital
Private Equity Investors. For more information on OVCF, go to www.ovcf.com.

    About Georgian Partners

    Georgian Partners is a venture capital firm investing in expansion and
later stage information intensive software and information aggregation
companies. Georgian Partners leverages its capital and its team of strong
global operators to support the growth objectives of its investments. Georgian
Partners is based in Toronto, Ontario. For more information on Georgian
Partners, go to www.georgianpartners.com.