(December 14 – 12:30 ET) – Triax Capital’s New Millennium Internet Ventures Fund is announcing the addition of seven new companies to its portfolio following over $12 million of investment in Ontario-based Internet and e-commerce companies.
Fund Manager Rod Baker says recent valuations of technology stocks in the private and public markets have created some excellent opportunities for Canada’s only labour sponsored investment fund exclusively focused on companies in the Internet and e-commerce sector.
“We’re continuing to see high quality companies today but they are at better valuations than when the Internet market was hot,” Baker said.
In October, the fund invested $1 million in Canadian-based NRX Global Corp., which has designed an end-to-end e-commerce solution for the identification, sourcing and procurement of spare parts in capital-intensive heavy industries.
When the company began trading on the Alternative Investment Market of the London Stock Exchange on November 11, the value of the fund’s investment nearly tripled to about $2.8 million.
Other recent investments by the Fund include:
- Ticoon Technology Inc.
- Online Global Corp.
- World Preferred.com Inc.
- Cloakware Inc.
- Youtopia.com, and
- Protus IP Solutions Inc.
In July, the fund invested over $3 million in Manta Corp., an Ottawa e-business products and services company established in 1989 focused on the e-survey and data collection market.
-IE Staff