TORONTO, Jan. 4 /CNW/ - VentureLink LP, manager of the VentureLink Group of Funds, with over $265 million in assets under management, today announced another successful exit from a portfolio company. NexGen Financial Limited Partnership a VentureLink Financial Services Innovation Fund Inc. portfolio company since 2006, fully repaid its outstanding debenture. NexGen repaid the VentureLink Financial Services Innovation Fund Inc. $3,000,000 upon closing a private placement for proceeds of $15,062,000.
"NexGen is one of the fastest growing mutual fund complexes in Canada. Under the leadership of Jim Hunter and his team, a well capitalized NexGen is strongly positioned to be a difference maker in the sector. We had a successful partnership with NexGen and wish them well into the future" said John Varghese, Managing Partner of VentureLink.
"We sincerely appreciated the access to venture capital provided by Ontario based Labour Sponsored Funds such as VentureLink. It was critical to our being able to finance our early development" said Jim Hunter, CEO of NexGen.
With over $265 million under management, VentureLink Funds is a diverse group of labour-sponsored funds ("LSIF"). VentureLink Funds give investors access to well-diversified portfolios of established companies operating in traditional industries such as financial, manufacturing and service industries as well as dynamic industries like alternative energy.
The company maintains a strong relationship with CI Financial Inc., who performs client services and client account administration for the Funds. For more information, please visit: www.venturelinkfunds.com.
About NexGen Financial Limited Partnership
NexGen Financial Limited Partnership is an independent financial services firm that develops value added investment solutions for financial advisors and their clients. The firm is focused on the creation of innovative investment products and services that meet the needs of Canadians seeking more tax efficient investment opportunities and greater control over the tax treatment of their investments.
SOURCE VENTURELINK FUNDS
For further information: For further information: John Varghese, Managing Partner, VentureLink LP, Tel: (416) 681-6371