September 30, 2016 12:20 AM ET

Capital Markets

Company Overview of GrowthWorks Canadian Fund Ltd., L.P.

Company Overview

GrowthWorks Canadian Fund Ltd., L.P. specializes in early-stage and growth capital. It also supports companies through to maturity. The fund seeks to invest in small to medium sized companies. It seeks to invest in information technology; life sciences; advanced manufacturing; clean technology; communications; media; transportation; medical products and health services; specialty merchandising; computer systems and software; lodging; financial, professional, and personal services; and training and education sectors. The fund prefers to invest in private companies based in Canada with a focus on Ontario, Saskatchewan, and Manitoba. It typically invests between $250,000 and $15 million in the ...

1959 Upper Water Street

Suite 1502

Halifax, NS B3J 3N2

Canada

Founded in 1990

Key Executives for GrowthWorks Canadian Fund Ltd., L.P.

Chief Investment Officer of Venture Capital
Senior Vice President of National Sales, Marketing and Government Relations
Vice President of Investments
Age: 49
Regional Sales Manager of South Western Ontario
Regional Sales Manager of Manitoba and Saskatchewan
Compensation as of Fiscal Year 2016.

GrowthWorks Canadian Fund Ltd., L.P. Key Developments

GrowthWorks Mulls Sell Assets

GrowthWorks Canadian Fund Ltd., L.P. intends to continue to pursue an orderly disposition of its assets with a view to satisfying its payment obligations to the GrowthWorks's creditors, following which the Fund's board of directors expects to consider alternatives reasonably available to GrowthWorks at that time, including a distribution to the Fund's shareholders of any remaining assets of GrowthWorks.

GrowthWorks Canadian Fund Ltd. Announces Settlement Agreement with Roseway Capital S.a.r.l

GrowthWorks Canadian Fund Ltd. announced that it has entered into a settlement agreement with Roseway Capital S.a.r.l. and obtained an order of the Court approving the Settlement Agreement. The Settlement Agreement resolves outstanding claims between the Fund and Roseway arising in connection with the participation agreement dated May 28, 2010, as amended, between the Fund and Roseway, the security agreement dated May 28, 2010 between the Fund and Roseway and certain other matters. Under the terms of the Settlement Agreement, the amount owing by the Fund to Roseway under the Participation Agreement and the Security Agreement has been fixed at $2,185,742, including interest, fees and expenses, and applicable withholding taxes. Interest will not accrue on the Outstanding Roseway Debt after the date of the Settlement Agreement. With the consent of FTI Consulting Canada Inc., the Court-appointed monitor in the Fund's CCAA proceedings, the Fund will pay the Outstanding Roseway Debt as soon as reasonably practicable, taking into account the Fund's commercially reasonable estimate of the actual and projected liquidity and capital resources and expenditures of the Fund. The Settlement Agreement also entitles Roseway to a fixed percentage of certain future earn-out consideration received by the Fund in connection with the prior sale of the Fund's investment in Cytochroma Canada Inc. That investment was subject to the terms of the Participation Agreement. Effective upon payment of the Outstanding Roseway Debt, the terms of the Security Agreement will be amended to, among other things, restrict the security interest held by Roseway in the Fund's assets to the Roseway OMP Entitlement. Currently, the Security Agreement grants Roseway a general security interest in all of the Fund's assets, subject to certain exceptions. In connection with the Settlement Agreement, the Fund and Roseway have exchanged customary mutual releases.

GrowthWorks Canadian Fund Ltd. Announces Resignation of Nancy E. Hopkins as Director

GrowthWorks Canadian Fund Ltd. announced that Nancy E. Hopkins has resigned as a director of the fund, effective as of November 26, 2014. Ms. Hopkins, the former Chair of the Audit Committee of the fund, remained a director of the fund following that announcement pending the completion of the fund's annual financial statements for fiscal 2013.

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Recent Private Companies Transactions

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