An affiliate of B.E.S.T. Capital Management Ltd. (BEST) has completed its acquisition of Axis Capital Corp. The deal was announcecd back in December 2005.

Axis Capital was created in 2000 to provide initial start-up capital for promising high-tech companies. It is the manager of the Axis Investment Fund Inc.

Axis Fund is an Ontario-based labour sponsored investment fund that focuses primarily on investing in privately-held start-up software and wireless technology companies. The fund has been operating since 2002 and has approximately $15 million under management in nine portfolio companies including, Liquid Computing Inc., Trigence Corp., Gridiron Software Inc., Pointshot Wireless Inc., Netistix Technologies Inc., Infoterra Inc., Elliptic Semiconductor Inc., Hyla Cybernetics Corp., and Sofea Inc.

“We are confident about the future success of the Axis Fund portfolio,” said John Richardson, CEO of BEST Funds. “With the addition of Axis, BEST Funds now has a total of 16 Ottawa based companies throughout its portfolios.”

BEST, established in 1996, is experienced in raising, investing and managing venture capital and making investments in emerging sectors.