SaskWorks Venture Fund fully subscribed with $40 mln raise

SaskWorks Venture Fund, a retail venture capital fund active in Saskatchewan, has raised $40 million in its latest fund-raising year, reaching the fund’s subscription limit under federal and provincial tax laws. Managed by Regina-based private equity firm PFM Capital, SaskWorks invests in small and medium-sized private companies in the province. Established in 2001, the fund has more than 29,000 shareholders and over $491 million in assets under management.

PRESS RELEASE

SaskWorks Venture Fund Fully-Subscribed for 2017 Tax Credit-Eligible Investments

REGINA, Feb. 27, 2018 /CNW/ – As of 2:38 p.m. CST on February 27, 2018, SaskWorks Venture Fund Inc. (the “Fund”) has reached its annual forty million dollar (CDN $40,000,000.00) fundraising limit and is fully-subscribed for 2017 tax year-eligible investment. Under the Labour-sponsored Venture Capital Corporations Act (Saskatchewan) and the Income Tax Act (Canada), the Fund is required to decline subscriptions received subsequent to the Fund’s annual limit being reached and return them to sales representatives unaccepted.

SaskWorks will re-open for subscription sales on March 8, 2018 at 8:00 a.m. EST. T2C tax credit receipts issued for investments made after this date will be eligible for use against 2018 tax filings.

About SaskWorks Venture Fund

SaskWorks Venture Fund is a Saskatchewan-based retail mutual fund that invests in small- and medium sized private businesses. Established in 2001, SaskWorks has more than 29,000 shareholders and over $491 million in assets under management.

For further information: For further information please contact: Ben Findlay, Investor Relations – Relationship Manager, SaskWorks Venture Fund Inc., (306) 530-3689, benfindlay@pfm.ca

Photo courtesy of bkindler/iStock/Getty Images