GrowthWorks Atlantic Venture Fund Ltd., one of the first venture capital funds in Atlantic Canada, has decided to wind up operations.
The fund has not raised new capital since 2014, and has been reducing its holdings in recent years as its portfolio companies exited, collapsed or found buyers for GrowthWorks’ shares.
Now its board has decided the time has come to wind up the fund entirely. After a shareholders’ meeting this summer, its officers will work to divest the shares it still owns in three remaining companies.
“GW was an early player in the startup ecosystem and worked to grow the