TORONTO, March 8 /CNW/ - Alterra Capital is proud to announce that it has
entered into an exclusive strategic relationship with Wellington West Capital
as the principal agent for the Alterra U.S. Venture Capital Fund LP, a select
private offering with a $50 million maximum. The arrangement will allow
accredited Wellington West clients access to the high growth sectors
indicative of the US venture capital market, which has been largely
inaccessible to individual investors due to high minimum investment amounts
targeted to institutional investors.
The Fund will be sub-advised by Spencer Trask Asset Management, a
registered investment advisory subsidiary of New York-based venture capital
firm Spencer Trask & Co.
The Fund's investment objective is to generate superior returns from a
portfolio of 20-30 US venture capital holdings. The Fund will be diversified
across U.S. industry sectors and geographical regions, focusing on high
growth, investment-stage companies in the healthcare, biotechnology, medical
devices, enterprise software, internet services, hardware technology and
Charlie Spiring, Wellington West's chairman said, "Venture capital has
consistently demonstrated the highest historical returns, and the US leads the
world in developing companies that can alter entire marketplaces. We're
excited about the access we gain to Spencer Trask, a venture capital leader
having placed over $1.2 billion in capital since 1992."
As Jit Mistry, Alterra's CEO explained, "Spencer Trask has a central
philosophy of active involvement from its investor network comprised of high
net worth individuals. Alongside this fully transparent process, Spencer Trask
invests its own capital first as it builds emerging companies to sufficient
maturity to be attractive to a wide range of very sophisticated investors. No
other venture capital firm subjects its private equity offerings to such
The Fund permits accredited Canadian investors to make a minimum
investment of $40,000, paid into the fund over three years. At these modest
levels, wealthy investors of all strata can allocate a small percentage of a
portfolio for exposure to an important long-term wealth-creating asset class.
About Alterra Capital
Alterra Capital is a private Canadian specialized asset management firm
that focuses upon the creation of non-traditional and non-correlated asset
based solutions with an international orientation in equity, income and
portfolio overlay strategies. The firm works with select Affluent Canadian
Families and Wealth Advisory Firms.
Alterra was founded by a team of financial services professionals who
have more than 75 years of combined experience in all stages of business
development: from start to maturity, business strategy, and investment product
About Wellington West
The Wellington West group of companies provides investment management,
financial planning, insurance, asset management and capital markets services.
Principal among its operations is Wellington West Capital Inc., a full service
Winnipeg-based independent Investment Dealer with offices across Canada.
Wellington West is an employee-owned company. In the 13 years since its
inception, Wellington West has become one of the largest and fastest growing
independent full-service investment operations in Canada, with over
$8.0 billion in assets under management. Among its many corporate
achievements, Wellington West was a winner of Canada's 50 Best Managed
Companies program for 2006 (sponsored by Deloitte, CIBC Commercial Banking,
National Post and Queen's School of Business), named the best employer in
Canada in the 2007 Hewitt Associates/Report on Business 50 Best Employers in
Canada and retained its leadership position for the third year in a row in the
2006 Brokerage Report Card survey conducted by the leading industry
publication, Investment Executive.
About Spencer Trask
Since its inception in 1992, Spencer Trask & Co. and its affiliates have
placed over US$1.2 billion in private financings with high growth companies,
which ranks it among the top US venture capital firms. Unique among these top
tier firms, Spencer Trask's primary capital source is high net worth
Spencer Trask's member network of over 3,000 corporate executives,
entrepreneurs and professionals delivers not just capital to emerging
companies, but also expertise, intellect, and key contacts. Equally important,
its network serves as a valuable pipeline for business plans, many of which
are provided to Spencer Trask on a "first look" basis. Often investing
alongside its high net worth investors are institutional and corporate
co-investors such as 30 members of the Fortune 100 as well as top financial
firms, including names such as General Electric, Intel, Motorola, Cisco,
Oracle, Lockheed, Dell, IBM and Goldman Sachs.
For further information:
For further information: Jit Mistry, Chief Executive Officer, Alterra
Capital, (905) 901-9788