| November 2007 |
Lions Capital acquires Pender NDI Life Science (VCC) Fund, which it renames the Advantage Life Sciences Fund II. At the time of the acquisition, Advantage Life Sciences Fund II had $13 million in net assets and an annual tax credit allocation of $7 million. This acquisition provided Lions Capital with aggregate net asset of over $80 million and the ability to raise $20 million of VCC tax credit allocations each year. |
| May 2007 |
Advantage Technology Fund portfolio company Parasun Technologies is acquired by Uniserve Communications Corp. (TSXV:USS) for $12.5 million in cash plus a working capital distribution, providing Advantage with a realized return of 4.6 times invested capital. Further post acquisition payments increase the purchase price to $14.5 million and a realized return of 5.5 times invested capital. |
| May 2007 |
Advantage Technology Fund portfolio company Brightside Technologies is acquired by Dolby Laboratories (NYSE:DLB) for $30.4 million in cash, providing Advantage with a realized return of 2.8 times invested capital. |
| February 2007 |
Advantage receives additional 2006 tax credit allocations from the Investment Capital Branch and raises an aggregate of $13.4 million for the 2006 program year. |
| December 2006 |
Advantage declares and pays a special dividend of $10.00 per share to the shareholders of the Advantage Life Science Fund I, in order to distribute excess cash on hand. |
| August 2006 |
It is announced that the Advantage Life Science Fund I has provided its investors with the highest one year, three year and five year returns of any retail venture capital fund in Canada. |
| August 2006 |
Advantage receives the Canadian Venture Capital Association 'Deal of the Year' Award for achieving the highest realized return on a single investment (23.4X return on its investment in Aspreva Pharmaceuticals) of any institutional or retail venture fund in Canada that year. |
| June 2006 |
Lions Capital completes fundraising for Lions Liquidity Investment Fund I and the fund is closed, having succesfully raised $4 million. |
| April 2006 |
Advantage completes the sale of its stock in Aspreva Pharmaceuticals for aggregate proceeds of $5.4 million, providing the Advantage Life Science Fund I with a realized return of 23.4 times invested capital. |
| February 2006 |
Advantage raises its full $10 million tax credit allocation for 2005 by February 17, 2006. |
| June 2005 |
The limited partnership behind Lions Liquidity Investment Fund I is formed and marketing of the Fund begins in earnest. |
| January 2005 |
Advantage raises its full $10 million tax credit allocation for 2004 by January 15, 2005. |
| November 2004 |
The Advantage Technology Fund raises an aggregate of $10 million and is closed. At the request of the then manager of the Advantage Technology Fund, the Board of Advantage subsequently transfers $5 million from the Advantage Technology Fund to the Advantage Venture Fund in April 2005. |
| September 2004 |
As substantially all investors in Advantage had made a diversified investment that was split evenly between the Advantage Life Sciences Fund and the Advantage Technology Fund, the Board of Advantage broadened the mandate of the Advantage Life Science Fund to include both technology and life science investments. The Board renamed the Advantage Technology Fund, the BC Tech Fund and agreed that it would continue to focus its investments in technology companies located in BC and that it would be capped at $10 million. |
| August 2004 |
Advantage merges with Qwest Emerging Biotech (VCC) Ltd and the Qwest shareholders exchange their shares of Qwest for shares in Advantage Life Science Fund I. |
| February 2004 |
Advantage raises an aggregate of $12 million prior to its sales being halted by the Investment Capital Branch of the BC Government. |
| November 2003 |
Advantage breaks a record by receiving $2.1 million of orders on its first day of trading on FundServe. |
| November 2003 |
Don Rix, Frank Holler, Jim Heppell, David Raffa and Ray Matthews co-found BC Advantage Funds (VCC) Ltd. Advantage offers investors the opportunity to invest in the Advantage Life Sciences Fund (BCA100), the Advantage Technology Fund (BCA300), or to make a diversified investment (BCA500) that is split evenly between the two funds. |
| October 2003 |
Qwest sells its shares in Xillix Technologies, which provides it with a realized return of 3.0 times invested capital. |
| February 2003 |
The date of incorporation and inception of the entity that would ultimately become Lions Capital Corp. |
| September 2001 |
Ray Matthews and Jim Heppell co-found Qwest Emerging Biotech (VCC) Ltd. which raised funds and invested in five promising BC biotechnology companies. |
