TORONTO, Sept. 30 /CNW/ - VentureLink is pleased to announce that at the
CVCA's Annual General Dinner in Toronto on Tuesday, September 23, 2008,
PlateSpin Ltd., won the 2008 'Deal of the Year' Award.
Five years after its inception, PlateSpin was acquired by Novell, Inc.
for USD $205 million. "For VentureLink, the sale of PlateSpin, which provides
solutions for workload relocation, protection and provisioning was a great
success story," says Jim Whitaker, Managing Partner, VentureLink Funds.
VentureLink invested $1.3 million in PlateSpin Ltd. in 2003 and upon exit
in 2008, the investment had generated an annual internal rate of return (IRR)
of 99.1%. "PlateSpin's growth from its inception with a team of 11 to a
multi-award winning Canadian technology company with 185 employees is very
impressive," says Whitaker.
VentureLink along with our co-investors is both honoured and happy to
have been both an investment and strategic partner in PlateSpin. "Through
these challenging times, VentureLink is pleased to support some of the
province's best companies and brightest entrepreneurs and providing investors
with great investment offers," states Whitaker.
With approximately $280 million under management, VentureLink Funds are a
diverse group of labour-sponsored funds ("LSIF"). The group was a pioneer in
bringing funds focused on mezzanine debt to the LSIF market, a conservative
approach that provides investors benefit from the security of debt positions
along with the growth potential of participating equity.
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
The Manager of Funds 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.
For further information:
For further information: Jim Whitaker, Managing Partner, VentureLink LP,