Summerhill Venture Partners closes inaugural US$175m fund



    TORONTO, Jan. 8 /CNW/ - Toronto and Boston based Summerhill Venture
Partners is pleased to announce the closing of Summerhill Ventures I LP, with
commitments of US$175 million. Summerhill is a venture capital firm which
invests in the areas of communications, digital media, and information
technology.
    Summerhill was formerly known as BCE Capital, the captive venture capital
fund of Bell Canada. In July 2007 BCE Capital spun out into Summerhill in
order to diversify its institutional base of limited partners. Summerhill
maintains a strong relationship with Bell Canada, which continues to be a
limited partner in the fund.
    Summerhill's Limited Partners include Paul Capital, Permal Capital
Management, Montagu Newhall, Credit Suisse Strategic Partners, Nortel and
others.
    "This is a great outcome for us with a terrific group of LPs" said
Summerhill's managing director Gary Rubinoff. "We are appreciative of the
continued support of Bell Canada, and look forward to a strong partnership
with our new investors".
    The team has a successful history of identifying innovation, supporting
entrepreneurs and helping create companies which become leaders in their
respective categories. Summerhill will continue its successful investment
focus in emerging communications, digital media, and IT opportunities.
    The fund was marketed by San Francisco based placement agent Probitas.





For further information:

For further information: Gary Rubinoff, grubinoff@summerhillvp.com,
(416) 408-0100

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SUMMERHILL VENTURE PARTNERS

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