Cvca.ca

September
IMMEDIATE
ONCAP and BC Advantage Funds
are winners of CVCA’s 2006 ‘Deal of the Year’ Awards
TORONTO: Canada’s Venture Capital & Private Equity Association (CVCA) is pleased to announce that BC Advantage Funds (VCC) Ltd is the recipient of the CVCA’s 2006 ‘Deal of the Year Award’ for the venture capital category and ONCAP LP is the recipient of the CVCA’s 2006 ‘Deal of the Year Award’ for the private equity category. Established in 1998, the purpose of the CVCA’s ‘Deal of the Year Award’ competition is to promote, highlight and celebrate the achievements of CVCA members who have had outstanding successes in investing in Canadian Companies. The selection process focuses on firms with the most significant return during the last twelve months ending June 30, 2006. Venture Capital Category Winner “It is my pleasure to announce that BC Advantage Funds won this years’ venture capital category award for its investment in Aspreva Pharmaceuticals”, said Richard Kinlough, Chairman of CVCA’s Deal of the Year Committee and President, CCFL Mezzanine Partners, “The investment in September 2003 generated an internal rate of return (IRR) of 272% and a multiple of 23.4 times investment.” Jim Heppell, President, of BC Advantage Funds, accepted the honour at the CVCA’s AGM Dinner in Toronto on Wednesday September 20, 2006. “We are delighted to receive this recognition from the CVCA with respect to our investment in Aspreva.” said Mr. Heppell, “We consider Aspreva to be the poster child for our model of investing early and maximizing returns by applying the expertise of our Advantage Mentors”. Aspreva's vision is to change the treatment landscape for people living with less common diseases by increasing the pool of evidence-based medicines available for these patients. Since its inception in 2001, Aspreva has experienced significant growth. In early 2003, Advantage led Aspreva’s seed round of financing at a pre-money valuation of $5 million. In October of that year, Aspreva signed a major partnership agreement with F. Hoffmann-La Roche for the development of CellCept in autoimmune diseases. In just 18 months, Aspreva initiated three Phase III clinical trials in three different autoimmune diseases. In March 2004, it closed a $76 million initial venture financing, one of the largest Series A financings reported in North America. One year later, Aspreva raised $112 million and became a publicly traded company is listed on the Nasdaq National Market and the Toronto Stock Exchange. Aspreva currently has over 100 employees, quarterly royalty revenues of over $50 million and a market capitalization of approximately $1 billion. BC Advantage Funds is a retail fund under the BC Venture Capital Corporation program that invests in early stage life science and technology companies. Advantage focuses its investments in seed and Series “A” rounds and then applies its Mentor model to maximize its returns. Advantage has built a network of over 50 of BC’s most experienced and successful technology and life science entrepreneurs that actively mentor its portfolio companies. Companies representing 84% of the value of Advantage’s portfolio have one or more of its Mentors contributing to their development. MaRS Centre, Heritage Building, 101 College Street, Suite 120-J, Toronto, Ontario, M5G 1L7 Telephone: (416) 487-0519 „ Fax: (416) 487-5899 „ Website: www.cvca.ca Private Equity Category Winner
“It is my pleasure to announce that ONCAP L.P. won this years’ private equity category award for its
investment in Futuremed Healthcare Products”, said Richard Kinlough, “The $25 million investment in
February 2004 generated proceeds of $100 million, a multiple of 4 times its investment, and an
internal rate of return of 115.9%.”
Mark Gordon, a Partner at ONCAP accepted the honour at the CVCA’s AGM Dinner in Toronto on
Wednesday, September 20, 2006. “We are pleased to accept this award in recognition of our
successful investment in Futuremed”, said Mr. Gordon. “ONCAP created a terrific partnership with
entrepreneur and founder Raymond Stone, to build upon Futuremed’s success and support the
company during its next phase of rapid growth.”
Founded in 1985, Futuremed is Canada’s leading distributor of disposable medical supplies and
equipment to the long-term care sector.
ONCAP is a $575 million Canadian pool of capital, established by Onex Corporation in 1999,
dedicated to investing in and building value with North America small and medium-size companies.

"I'd like to congratulate our two Deal-of-the-Year Award winners tonight, who clearly demonstrate the
great success that can be achieved in the Canadian risk capital markets," said Rick Nathan,
President of the CVCA and Managing Director of Kensington Capital Partners. "Our venture capital
sector is clearly capable of producing outstanding returns for investors, while our private equity (buy-
out) group has earned even greater recognition for its continuing stellar record - the returns produced
by Canadian buy-out funds remain among the very best anywhere in the world."
About CVCA
The CVCA - Canada’s Venture Capital & Private Equity Association was founded in 1974 represents
Canada’s venture capital and private equity industry. Its over 1100 members are firms and
organizations which manage the majority of Canada’s pools of capital designated to be committed to
venture capital and private equity investments. The CVCA fosters professional development,
networking, communication, research and education within the venture capital and private equity
sector and represents the industry in tax and regulatory matters.
Contacts:
Lauren Linton,
Director of Marketing, CVCA, 416 487-4299
Richard Kinlough
Chair of CVCA’s Awards Committee and
President, CCFL Mezzanine Partners 416 640-7652

Source: http://www.cvca.ca/files/News/CVCA_2006_DOYA_Release_FINAL.pdf