OVCF makes first investment in Georgian Partners

The Ontario Venture Capital Fund has made its first investment with a commitment of up to $15 million to Georgian Partners Growth Fund I, an Ontario-based VC fund focused on expansion stage firms in the information technology, information aggregation and enterprise software sectors. The investment is the first of several expected in the coming weeks made by OVCF manager TD Capital Private Equity Partners. The OVCF is a fund of funds created in late 2007 with $90 million in provincial funding (R$ November 28/07). TD Capital was named as fund partner last spring (R$, June 20/08). The OVCF signals a replacement for the province's previous reliance on labour-sponsored investment funds….