Growthworks Explained

GrowthWorks Capital Ltd
Type:	Private
Genre:	Venture capital
Location Country:	Canada
Aum:	C$170 million

GrowthWorks Capital Ltd is a Canadian venture capital firm investing in early-stage technology companies. Founded in 1992, the Working Opportunity Fund has invested $600 million in 130 BC technology companies.

The GrowthWorks management team has won the CVCA Deal of the Year award 3 times (Layer 7 – 2013,^[1] Galleon Energy – 2007,^[2] HotHaus Technologies – 2000). The reinstatement of the 15% federal Labour Sponsored Venture Capital tax credit in Budget 2016 (plus the existing Provincial tax credits), will be beneficial to GrowthWorks.^[3] In 2013, it was reported that the fund had liquidity problems.^[4]

Further reading

• Web site: ROI Capital, GrowthWorks: Where liquidity is an issue. Barry. Critchley. Financial Post. 2012-10-26.
• Web site: GrowthWorks ready to dole out cash to ENSIS unitholders. Geoff. Kirbyson. Winnipeg Free Press. 2012-12-18.
• Web site: Sorting out the mess at GrowthWorks: $650M lawsuits hangs over proceedings. Barry. Critchley. Financial Post. 2013-12-05.
• Web site: GrowthWorks fund has holders fuming. Barry. Critchley. Financial Post. 2012-12-14.
• Web site: GrowthWorks CEO defends fund's use of leverage. Barry. Critchley. Financial Post. 2012-06-01.
• Web site: GrowthWorks fund shores up position with costly borrowing. Barry. Critchley. Financial Post. 2012-05-31.
• Web site: GrowthWorks Canadian Fund receives court protection: FTI appointed monitor. Barry. Critchley. Financial Post. 2013-10-02.

Notes and References

1. Web site: 2014-05-21 . BDC Venture Capital & GrowthWorks – Winners of CVCA’s 2014 VC ‘Deal of the Year’ Award CVCA News . https://web.archive.org/web/20160816233231/http://news.cvca.ca/bdc-venture-capital-growthworks-winners-cvcas-2014-vc-deal-year-award/2014/05/21/ . 2016-08-16 . 2024-07-12 . news.cvca.ca.
2. Wellington Fund. This is Roger Martin, reporting from Mars
3. http://www.cvca.ca/wp-content/uploads/2016/02/CVCA-Budget-2016-Statement.pdf CVCA Budget 2016 Statement
4. David. Baines. GrowthWorks-managed fund struggles with liquidity problems. Vancouver Sun. 2013-06-05.