Ontario Venture Capital Fund makes commitment to Ontario-based EdgeStone Capital Venture Fund III

    TORONTO, April 8 /CNW/ - The Ontario Venture Capital Fund (OVCF) today
announced that it has made a commitment of $20 million to EdgeStone Capital
Venture Fund III (EdgeStone), an Ontario-based venture capital fund focused on
early and growth stage Canadian information technology companies.
    "We are delighted to include EdgeStone, a leader in the venture capital
community, as part of the OVCF portfolio," said Melissa McJannet, Managing
Director of TD Capital Private Equity Investors, the manager of OVCF. "Our
commitment to EdgeStone underscores OVCF's strategy of strengthening Ontario's
venture capital industry by investing in managers capable of generating
top-tier returns."
    By providing capital to promising Ontario funds, OVCF seeks to promote
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. EdgeStone is an established venture
capital fund managed by a team of five investment professionals with a mix of
operating, technical, and financial experience. The EdgeStone team has more
than 50 years cumulative experience investing in and operating highly
successful Canadian growth companies. EdgeStone's track record of successful
investments includes Ontario-based companies such as Workbrain, SlipStream
Data, Protus IP Solutions, and Varicent. As the lead investor in EdgeStone
Capital Venture Fund III, OVCF's commitment will assist the fund in reaching
its first close milestone of $100 million and achieving its ultimate target of
$150 million in total capital commitments.
    "We are looking forward to continuing to add to the OVCF portfolio," adds
McJannet. "We are working diligently to ensure that the Fund's capital
continues to be invested with best-in-class venture capital fund managers and
are confident that OVCF will continue to serve as a catalyst in the ongoing
efforts to encourage the development of a profitable, globally competitive and
self-sustaining venture capital industry in Ontario. Over the past months we
have developed a robust pipeline of potential additional fund investments as
well as direct co-investment opportunities where OVCF will invest in
high-potential Ontario-based companies alongside leading fund managers."
    "We are very excited to have gained the support of OVCF for our third
venture capital fund," said Bryan Kerdman, Partner responsible for Venture
investing at EdgeStone. "We are pleased to continue to add to our investor
base as we continue to build on our successful, proven strategy of investing
in promising technology companies and assist in their ongoing development as
successful businesses."

    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 EdgeStone

    Founded in 1999, EdgeStone Capital Partners is one of Canada's leading
private capital managers. Based in Toronto, EdgeStone manages over $2.5
billion in capital. EdgeStone's venture fund was created in 2000 to focus on
Canadian early to mid-stage technology companies. The EdgeStone Capital
Venture Funds provide capital to early and mid-stage technology companies
whose technology is substantially complete and already tested. EdgeStone is a
member of the GMP Capital Trust group of companies. For more information on
EdgeStone, go to www.edgestone.com.

For further information:

For further information: Julia Koene, Corporate & Public Affairs, TD
Bank Financial Group, (416) 307-8664, julia.koene@td.com.; Samuel L. Duboc,
President and Managing Partner, EdgeStone Capital Partners, (416) 860-3760,

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