(March 14 – 12:30 ET) – Venture capital firm VenGrowth says that record new capital of over $240 million was raised for VenGrowth II, its current retail venture capital fund, during the 2000 tax year.

The fund produced gross sales of $240 million, up from $176 million combined gross sales for VenGrowth I and VenGrowth II last year. “We appreciate the tremendous support shown to VenGrowth by our advisors and shareholders,” says Deborah Gray, VenGrowth vice presidnent, sales and marketing. “This support is an overwhelming endorsement of VenGrowth’s investment team and our proven investment strategy.”

“There are an increasing number of leading companies seeking venture capital funding due to current public market conditions,” says David Ferguson, managing director. “We are very pleased that VenGrowth’s reputation in the venture capital industry as a value-added funding partner is attracting the best companies. VenGrowth will use these new proceeds to continue to invest in the most promising up and coming Canadian companies on behalf of our investors.”

VenGrowth boasts that it was the top-selling labour-sponsored fund during RRSP season, and is touting its 14.1% five-year return as tops among the venture capital funds, too