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East Valley Ventures Sells Stake In Three Companies, Backs New Ones

Gerry Pond. Image: Submitted

A quick study of the Portfolio page on the East Valley Ventures website tells an interesting story about how the Saint John-based investment group has been quietly exiting some companies and investing in others.

In fact, the page shows that East Valley has had three exits in the past 15 months, capped by the year-end sale of Saint John-based Cirrus9 to Toronto’s Carbon60. It was preceded by the sales of Victoria, B.C.-based Tutela Technologies in September 2019 and Barrie-Ont.-based gShift in October 2018.

These have helped the East Valley members to back new companies. At a time that many in the region bemoan the lack of angel funding, East Valley Ventures added three new companies to its portfolio in 2019.

“Two of the three exits provided attractive returns for EVV,” said East Valley Co-Founder Gerry Pond in an email Thursday. “The gShift exit was not material, but provided the company with a growth path.”

Read the rest of this story at Entrevestor.