Fund News

GrowthWorks Managed Funds

At GrowthWorks we feel it is important to recognize the achievements of our managed fund's portfolio companies. Please pick a specific fund from the menu on the left to view the most current portfolio company news.

GrowthWorks Canadian Fund (no longer available for sale)
includes News Releases and News Stories
Working Opportunity Fund
includes News Releases and News Stories
GrowthWorks Atlantic Venture Fund
includes News Releases and News Stories
GrowthWorks Commercialization Fund
includes News Releases and News Stories

GrowthWorks Canadian Fund (no longer available for sale)

GrowthWorks Canadian Fund Announces Procedures for Submitting Class A Share Redemption Requests

12/7/2012

Read more...

GrowthWorks Canadian Fund disappointed that RMP not approved. Fund to process redemption requests when sufficient liquidity is available.

12/2/2012

Read more...

GrowthWorks Canadian Fund Granted Further Regulatory Order for Closure of Class A Share Redemptions

7/31/2012

Read more...

Redemption Management Plan Approved by GrowthWorks Canadian Fund Shareholders

6/29/2012

Read more...

GrowthWorks Canadian Fund Provides Update on Financing Arrangements

5/23/2012

Read more...

GrowthWorks Canadian Fund Provides Update on Redemption Management Plan

5/23/2012

Read more...

GrowthWorks Canadian Fund receives extension of Regulatory Approval for Closure of Class A Share Redemptions

4/17/2012
As previously announced on November 10, 2011, GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) obtained regulatory approval to close Class A share redemptions until April 16, 2012 (the “Order”). Canadian Fund today announced it has obtained an extension of the Order to July 31, 2012.
Read more...

GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund Apply to Extend Annual Meeting Date

1/27/2012

GrowthWorks Canadian Fund Ltd. ("Canadian Fund") and GrowthWorks Commercialization Fund Ltd. ("Commercialization Fund", together with Canadian Fund, the "Funds") today re-applied to the Ontario Superior Court of Justice, Commercial List (the "Court") for an order pursuant to Section 133(b) of the Canada Business Corporations Act (the "CBCA") extending the time for Canadian Fund and Commercialization Fund to call the next annual meetings of their shareholders ("AGMs") to June 30, 2012, together with an order validating service of the notice of application and application materials in the manner described in the affidavit of John McLeod, counsel to the manager of each Fund, sworn January 27, 2012 and abridging the time for service as set out in the application materials. The application will come on for a hearing on February 3, 2012, at 9:00 a.m., at 330 University Avenue, Toronto, Ontario.

GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund Receive Order to Extend Annual Meeting Date

1/23/2012

GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) and GrowthWorks Commercialization Fund Ltd. (“Commercialization Fund”, together with Canadian Fund, the “Funds”) were today granted an order by the Ontario Superior Court of Justice, Commercial List (the “Court”) extending the time for Canadian Fund and Commercialization Fund to call the next annual meetings of their shareholders to June 30, 2012.

Serial entrepreneurs target the web search hit list

12/6/2011

For serial entrepreneurs, one business idea often leads to another. That’s how it was for Krista LaRiviere and Chris Adams.

After launching cgk Technologies Group 12 years ago to do “everything Web,” from hosting to content management, they went on to spin off Hot Banana Software, which offers a web content management system integrated with analytics, e-mail marketing and customer relationship management.

GrowthWorks Canadian Fund completes previously announced Consolidation of Income Series Shares

11/28/2011
GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) announced today that it has completed the previously announced consolidation of the fund’s Income Series shares into Diversified Series shares.

Read more...

GrowthWorks Canadian Fund Adopts Redemption Management Plan to Maximize Return Potential from Venture Portfolio

11/10/2011
GrowthWorks Canadian Fund Ltd. ("Canadian Fund") announced today that it has adopted a redemption management plan (the "RMP") whereby the Canadian Fund will close weekly Class A share redemptions and, subject to regulatory approval, would process redemptions of Class A shares semi-annually in amounts determined by the Board of Directors.
Read more...

GrowthWorks Canadian Fund Closes Class A Share Offering

9/30/2011

Toronto, Ontario, September 30, 2011 – GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) announced today that Canadian Fund’s Class A share offering will close to new purchases, effective immediately. Further, shareholders with switch rights may no longer switch one series of Class A shares for another. This announcement only affects new purchases and switches of Canadian Fund Class A shares and does not affect sales of other GrowthWorks managed funds, including GrowthWorks Commercialization Fund which continues to offer shares to investors in Saskatchewan, Manitoba and Ontario, with tax credits and a dividend policy that calls for the payment of $2.50 per share of dividends over three years.

GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund Confirm Voting Procedures for Shareholder Meetings

6/9/2011

Read more...

GrowthWorks Announces Impending Life Sciences Investment Win - Investee Gemin X Pharmaceuticals, Inc. to be Acquired by Cephalon, Inc.

3/25/2011
Cephalon Inc., a leading global biopharmaceutical company, announced earlier this week that it had signed a definitive merger agreement under which it will acquire all of the ooutstanding capital stock of Gemin X Pharmaceuticals, Inc. for US$225 million cash on a cash-free, debt-free basis.
Read more...

GrowthWorks Canadian Fund Proposes to Consolidate Merger Shares

10/29/2010

Toronto, Ontario, October 28, 2010 - GrowthWorks Canadian Fund Ltd. announced today that its Board has approved seeking shareholder approval for the consolidation of Canadian Fund's six outstanding series of merger shares into currently offered Diversified Series, Commission I shares.

GrowthWorks Canadian Fund Proposes Changes to Share Offering

10/8/2010

Toronto, Ontario, October 7, 2010 - GrowthWorks Canadian Fund Ltd. announced today that its Board has approved seeking shareholder approval for the consolidation of the fund's Income Series into Diversified Series shares.

GrowthWorks Canadian Fund provides update on Participation Agreement with Roseway Capital

8/6/2010
Toronto, Ontario, August 6, 2010 - GrowthWorks Canadian Fund Ltd. ("Canadian Fund") provided an update today with respect to the previously announced Participation Agreement between Canadian Fund and Roseway Capital ("Roseway") whereby Roseway advanced $20 million to the Fund (the "Roseway Proceeds") in exchange for a participating interest in 15 investments in the Fund's venture investment portfolio (the "Participation Holdings").
Read more...

GrowthWorks Canadian Fund enters into a Participation Agreement with Roseway Capital

5/28/2010
Toronto, Ontario, May 28, 2010 - GrowthWorks Canadian Fund Ltd. ("Canadian Fund") is pleased to announce that it has entered into a Participation Agreement with Roseway Capital L.P. ("Roseway") whereby Roseway completed a $20 million investment in Canadian Fund.
Read more...

GrowthWorks Managed Funds Acquire Securities of Tekmira Pharmaceuticals Corporation in Connection with Merger

5/26/2009
Effective May 22, 2009 GrowthWorks Canadian Fund completed a merger transaction whereby it acquired the net assets of Canadian Medical Discoveries Fund Inc. including 3,900,000 common shares of Tekmira Pharmaceuticals Corporation.
Read more...

Canadian Medical Discoveries Fund and GrowthWorks Canadian Fund Finalize Merger

5/25/2009
Canadian Medical Discoveries Fund Inc. ("CMDF") and GrowthWorks Canadian Fund Ltd. ("Canadian Fund") are pleased to announce the successful completion of the previously announced merger of CMDF into Canadian Fund, effective May 22, 2009.
Read more...

GrowthWorks Announces Letter of Intent Concerning Acquisition of Mavrix Fund Management Inc.

5/1/2009
GrowthWorks is pleased to announce that it has entered into a Letter of Intent with Mavrix Fund Management Inc.

Read more...

Bothwell Cheese wins first place “three-peat” at prestigious British Empire Cheese Show

1/14/2009
Belleville, Ontario (Dec. 4, 2008) - Bothwell Cheese has again been awarded the first-place Trophy in the marble cheddar class at the prestigious 81st Annual British Empire Cheese Show.

Read more...

GrowthWorks Canadian Fund and Canadian Medical Discoveries Fund Enter into a Letter of Intent Regarding a Proposed Merger

11/7/2008
Toronto, Ontario, November 7, 2008 – GrowthWorks Canadian Fund Ltd.
(“Canadian Fund”) and Canadian Medical Discoveries Fund Inc. (“CMDF”)
announce that they have entered into a non-binding letter of intent regarding a
proposed merger of CMDF into Canadian Fund.

Read more...

ENSIS Growth Fund and GrowthWorks Canadian Fund Finalize Merger

10/27/2008
Winnipeg, Manitoba, October 24, 2008 – ENSIS Growth Fund Inc. (“ENSIS Fund”) and GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) are pleased to announce the successful completion of the previously announced merger of ENSIS Fund into Canadian Fund.

Read more...

GrowthWorks Portfolio Companies Winners of Deloitte Technology Fast 50 Award

10/3/2008
GrowthWorks Canadian Fund is pleased to announce two of its portfolio companies were winners of the Deloitte Fast 50 Technology Award, a ranking of the 50 fastest growing Canadian technology companies based on the highest percentage of revenue growth over the last five years.

Read more...

GrowthWorks Canadian Fund invests in Room 307 Technologies Inc.

8/21/2008
Toronto, Ontario, July 9, 2008 – GrowthWorks Canadian Fund announces the sale of its investment in World Vintners Inc. (WVI), a producer and seller of high quality consumer-made wine kits, to Andrew Peller Limited, a leading producer and marketer of quality wines in Canada. Andrew Peller Limited acquired WVI for a purchase price of $9 million.

Read more...

GrowthWorks Canadian Fund Announces Sale of World Vintners Inc.

7/9/2008
Toronto, Ontario, July 9, 2008 – GrowthWorks Canadian Fund announces the sale of its investment in World Vintners Inc. (WVI), a producer and seller of high quality consumer-made wine kits, to Andrew Peller Limited, a leading producer and marketer of quality wines in Canada. Andrew Peller Limited acquired WVI for a purchase price of $9 million.

Read more...

ENSIS Growth Fund and GrowthWorks Canadian Fund Announce Merger Agreement

7/2/2008
Winnipeg, Manitoba, July 2, 2008 – ENSIS Growth Fund Inc. (“ENSIS Fund”) and GrowthWorks Canadian Fund Ltd. (“Canadian Fund”) announced today that they have signed an agreement to merge the ENSIS Fund into the Canadian Fund. The transaction remains subject to ENSIS Fund shareholder and regulatory approvals. If these and other conditions are satisfied, the transaction is expected to close prior to ENSIS Fund’s year end of October 31, 2008. ENSIS Fund shareholders will vote on the transaction at a shareholders meeting on July 24, 2008. Canadian Fund shareholders approved the Merger at the fund’s 2007 annual general meeting in December 2007.

Read more...

Med-Eng Systems Inc co-founder named 'Entrepreneur of the Year'

6/4/2008
June 4, 2008 - Vancouver, BC – GrowthWorks* is pleased to celebrate with Richard L’Abbe, co-founder and former President and CEO of Med-Eng Systems, who was recently honoured with the ‘Entrepreneur of the Year Award’ at the 15th annual awards gala of Canada’s Venture Capital & Private Equity Association (CVCA). In 2005, GrowthWorks assumed management of the original $2 million venture capital investment made in 1997.

Read more...

GrowthWorks Canadian Fund Wins Lipper Awards

4/2/2008
The Lipper Fund Awards program highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers.

Read more...

^ Top

Working Opportunity Fund

WOF has closed sales and redemptions of the venture series of shares until May 31, 2013. Click here for Press Release.

Working Opportunity Fund Gives Update on Portfolio Developments and Extends Closure of Venture Series Sales and Redemptions until May 31, 2013

4/24/2013

Read more...

Working Opportunity Fund Announces Temporary Extensions

12/20/2012

Read more...

Working Opportunity Fund Gives Update on Portfolio Developments and Extends Closure of Venture Series Sales and Redemptions until April 30, 2013

12/14/2012

Read more...

Working Opportunity Fund Announces Portfolio Developments and Closes Venture Series Sales and Redemptions until December 31, 2012

11/2/2012

Working Opportunity Fund (EVCC) Ltd. (the "Fund") announced today developments with respect to two of the Fund’s portfolio companies (the "Portfolio Developments") and the closing of Venture Series sales and redemptions until December 31, 2012.

Working Opportunity Fund – Offering Update

7/19/2012

Read more...

Working Opportunity Fund proposes Streamlining of Venture Series Offering

5/9/2012

Read more...

Working Opportunity Fund Secures Standby Credit Facility

12/23/2011
Working Opportunity Fund (EVCC) Ltd. (the “Fund”) is pleased to announce that it has approved a $10 million credit facility agreement with BCC Lending Services Ltd., an affiliate of Beedie Capital Partners, a Vancouver based institutional investor. The 12-month, non-revolving facility (the "Facility"”) will enhance operating and financial flexibility for the Fund’s Venture Series.
Read more...

Working Opportunity Fund (EVCC) Ltd., Reports Investment in Tekmira Pharmaceuticals Corporation-GrowthWorks Capital Ltd.

6/16/2011

Read more...

Working Opportunity Fund Proposes Streamlining of Venture Series Offering

11/4/2010

Vancouver, British Columbia, November 3, 2010 - Working Opportunity Fund (EVCC) Ltd. announced today that its Board has approved seeking shareholder approval for the consolidation of the Income Shares (series 2) and the Diversified Shares (series 2) into the Balanced Shares (series 2) and the Resource Shares (series 2) into the Growth Shares (series 2).

GrowthWorks Announces Changing Role for Jim Charlton

8/24/2010
August 23, 2010 - Vancouver, BC - GrowthWorks Capital Ltd. one of Canada's leading venture capital fund managers and subsidiary of Matrix Asset Management Inc., announced that Jim Charlton, Senior Vice President Investments will be transitioning his role within the company effective September 15, 2010.
Read more...

Working Opportunity Fund Announces Revised Asset Allocation Rules for Commercialization Series Shares

3/30/2010
March 29, 2010, Vancouver, British Columbia - The Working Opportunity Fund announced today that it has implemented previously announced and shareholder approved, revised allocation rules for its Commercialization Series of Class A Shares.
Read more...

Eight Working Opportunity Fund portfolio companies on this year's Ready to Rocket list

1/29/2009
25 BC companies escape recession's gravity to make this year's Ready to Rocket list. The list includes eight WOF portfolio companies.

Source: Vancouver Sun

Read more...

CellFor Announces U.S. $10 Million Note Financing

11/3/2008
The funds are earmarked for continued expansion of production capacity and development of carbon sequestration and bio-fuels opportunities.
Read more...

GrowthWorks Portfolio Companies Winners of Deloitte Technology Fast 50 Award

Working Opportunity Fund makes follow-on investment in LightHaus Logic, developer of breakthrough video analytics for intelligence applications

9/8/2008
Vancouver, BC – The Working Opportunity Fund (WOF), managed by GrowthWorks Capital Ltd., a leading Canadian retail venture capital fund, announces its follow-on investment in Vancouver-based LightHaus Logic, developer of video analytics for business intelligence and security applications that offer a new generation of performance.

Read more...

^ Top

GrowthWorks Atlantic Venture Fund

GrowthWorks Atlantic Venture Fund Announces Changes to Board Structure

11/15/2012
November 15, 2012, Halifax, Nova Scotia – GrowthWorks Atlantic Venture Fund Ltd. (“Atlantic Fund”) announced today a re-structuring of Atlantic Fund’s Board of Directors that will result in a reduction in the number of directors from 15 to 13 and the removal of director residency requirements for the Province of Prince Edward Island.
Read more...

GrowthWorks Atlantic Venture Fund Announces changes to Share Offering

10/10/2012

October 10, 2012, Halifax, Nova Scotia – GrowthWorks Atlantic Venture Fund Ltd. ("Atlantic Fund") announced today a proposal to consolidate Atlantic Fund’s Growth and Financial Services Series shares into Balanced Series shares. Growth and Financial Services Series will be removed from Atlantic Fund’s current share offering effective October 15, 2012 and from that date forward other Series of Atlantic Fund Class A Shares may no longer be switched into Growth or Financial Services Series. Holders of Growth and Financial Services Series shares may continue to switch into Balanced or GIC Series.

GrowthWorks Atlantic Venture Fund and Research & Development Corporation invests in adfinitum Networks Inc.

2/6/2012
GrowthWorks Atlantic Venture Fund and the Research & Development Corporation (“RDC”), a crown corporation of the Government of Newfoundland and Labrador, are pleased to announce a combined $542,000 investment in the development of a new and innovative marketing analytics tool from adfinitum Networks Inc. (“adfinitum”).
Read more...

GrowthWorks Atlantic Venture Fund Announces Investment of $1.75 Million in Three New Brunswick Technology Companies

1/24/2012
GrowthWorks Atlantic Venture Fund is pleased to announce recent investments totaling $1.75 million in three emerging technology companies based in Saint John, New Brunswick.
Read more...

GrowthWorks Atlantic Venture Fund Announces Investment in Lymbix Inc.

4/19/2011

GrowthWorks Atlantic Venture Fund is pleased to announce its $1.35 million investment in Lymbix Inc.

New Brunswick Updates for GrowthWorks Atlantic Venture Fund

3/1/2011
March 1, 2011 - GrowthWorks is pleased to report positive deal flow in New Brunswick as evidenced by an exciting investment opportunity in a promising software company.
Read more...

GrowthWorks Atlantic Venture Fund Announces Investment in ClearRisk Inc.

1/18/2011
January 18, 2011, St. John's Newfoundland and Labrador - GrowthWorks Atlantic Venture Fund is pleased to announce its $1 million investment in ClearRisk Inc. a NewFoundland and Labrador based company.
Read more...

GrowthWorks Atlantic Venture Fund Announces Change to Share Offering

9/20/2010
September 20, 2010, Halifax, Nova Scotia - GrowthWorks Atlantic Venture Fund Ltd. announced today that its Board has approved the consolidation of the Fund's Diversified Series shares into Balnced Series shares.
Read more...

Venture Firm Teams Up with Memorial University’s Atlantic Canada Venture Gateway

4/22/2010
GrowthWorks Atlanitc Ltd. announced today that it has entered into an agreement with the Atlantic Canada Venture Gateway of Memorial University of Newfoundland to assist in identifying companies that may be seeking venture capital investment.

Read more...

New Brunswick Adopts Amendments to its Labour Sponsored Venture Capital Program

6/23/2009
GrowthWorks is pleased to report that previously announced enhancements to New Brunswick's Labour Sponsored Venture Capital Corporation program have been passed.

Read more...

Newfoundland and Labrador Adopts Amendments to its Labour Sponsored Venture Capital Program

6/3/2009

GrowthWorks is pleased to report that previously announced enhancements to Newfoundland and Labrador’s Labour Sponsored Venture Capital Corporation program have been passed.

NB Government Announces Enhancements to Retail Venture Capital Program

3/18/2009
New Brunswick government's 2009-2010 budget speech proposes amendments to legislation which will make it more attractive for individuals to invest in retail venture capital funds like GrowthWorks Atlantic Venture Fund.

Read more...

^ Top

GrowthWorks Commercialization Fund

GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund Apply to Extend Annual Meeting Date

1/27/2012

GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund Receive Order to Extend Annual Meeting Date

1/23/2012

GrowthWorks Canadian Fund and GrowthWorks Commercialization Fund Confirm Voting Procedures for Shareholder Meetings

6/9/2011

Read more...

GrowthWorks Commercialization Fund expands offering into Manitoba

1/12/2011
January 11, 2011 Toronto, Ontario - We are pleased to announce that effective December 15, 2010 GrowthWorks Commercialization Fund Ltd. is registered as a LSVCC in the Province of Manitoba.
Read more...

GrowthWorks Commercialization Fund Announces Revised Asset Allocation Rules

2/11/2010

February 10, 2010, Toronto, Ontario - GrowthWorks Commercialization Fund announced today that it has implemented previously announced and shareholder approved, revised allocation rules.

^ Top

Request an Investment Advisor Referral Request More Information News Tax Calculator Subscriptions