PRINT THIS PAGE Canadian Ventures West holds first close of eighth fund12/11/2003. Source: AltAssets. 
 Canadian Ventures West has announced the first close of its eighth venture capital fund at $158m. The fund will invest in early-stage biotechnology, communications, energy technology and IT companies across Canada.
Investors in the fund include British Columbia Investment Management Corporation, Business Development Bank of Canada, CPP Investment Board, Edgestone Capital Partners, OMERS and Teachers’ Merchant Bank.
‘We are delighted to have most of the largest pension funds in Canada in our investor group,’ said Dr Robin Louis, president of Ventures West. ‘The venture capital industry has seen a sharp decline in investment and fundraising over the last two years. These institutions are very sophisticated investors and their investment in Ventures West VIII confirms their commitment to Ventures West, to the Canadian private equity marketplace and to venture capital in general.’
Ventures West’s previous fund held its final close in November 2000 and has invested in over 30 companies, including Convedia Corporation, INEA, Polyfuel, Salmedix, Sibercore Technologies and Xenon Genetics .
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