FIRST LEASIDE VISIONS I LP and FIRST LEASIDE VISIONS II LP
First Leaside Visions I LP and
First Leaside Visions II LP were established in 2008 and 2009, respectively, as registered Ontario Commercialization Investment Funds (OCIF), in collaboration with the Ontario government to help leverage pools of seed capital for spin-off technology companies created by faculty, staff and students of Ontario-based research institutions. Drawing upon a combination of federal and provincial financing and grant programs, the unique structure of First Leaside Visions I and First Leaside Visions II enables investors to reduce their down-side risk with generous tax incentives and cash distributions, while participating in the future growth of companies engaged in the commercialization of leading-edge research. Although the OCIF program, itself, is no longer available through the Province of Ontario for the creation of new OCIFs, First Leaside is exploring opportunities in other jurisdictions and continues to structure innovative research commercialization products with many of the same people and institutions as in the past.
BENEFITS INCLUDE:
Deductions of up to 80 per cent of invested capital may be used to reduce other Canadian sourced taxable income over the next four tax years.
Cash return of up to 70 per cent of invested capital is expected at the end of the fifth year.
Potential capital gain due to First Leaside Visions II LP's participation in the commercialization of leading-edge research.
SPONSORING INSTITUTIONS
Our network of sponsoring institutions of First Leaside Visions I LP and First Leaside Visions II LP included University of Toronto, University of Waterloo, University of Ottawa, McMaster University and University of Western Ontario. Together, we shared the common goal of promoting growth and creating jobs in the Province of Ontario.
MANAGEMENT TEAM
SUMMARY OF INVESTMENT HOLDINGS
In 2009, First Leaside Visions II Limited Partnership invested equally in three exciting businesses, concluding its search for new investment opportunities. These three start-up companies were originally created by the University of Waterloo and the University of Ottawa for the purpose of commercializing the research and technologies which were developed at those institutions. The underlying intellectual property for each of the companies has been protected by patent filings that have either been granted or are in progress.
Click here for PDF version of booklet about First Leaside Visions II LP (FULLY SUBSCRIBED)
Click for PDF of First Leaside Visions I LP 2008 Investment Summary (FULLY SUBSCRIBED)
AGENT
The Agent of this offering, First Leaside Securities Inc. is a Dealer Member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
For additional information, contact First Leaside Securities Inc. at
1-866-681-9247.
This report is for information only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All information provided is believed to be reliable, but its accuracy or completeness is not guaranteed. The amount and timing of the tax write-offs and/or cash distributions constitute our best judgment at this time, but may be subject to change. Individuals should consult their tax advisors with respect to personal tax matters. The investment is intended to provide capital to commercialize high-risk technology businesses at the very earliest stages and there is no guarantee that it will produce a commercially viable product and/or service. Accordingly, the investment is limited to accredited investors, with a minimum investment of $25,000. The Sponsors of the OCIF have neither approved nor disapproved of the securities being offered or passed judgment upon the adequacy of any offering document for the securities. The Sponsors logos are the property of the respective Sponsors. First Leaside Visions II Limited Partnership is a related issuer of First Leaside Securities Inc., the Agent, and is a registered Ontario Commercialization Investment Fund (registration no.: 40108). See 1) Ontario Ministry of Research and Innovations A Guide to the Ontario Commercialization Investment Funds Program, and 2) Community Small Business Investment Funds Act and Regulations. No securities commission or any similar authority has in any way passed upon the merits of the securities offered herein and any representation to the contrary is an offense. Each prospective investor should consult its own attorney, business advisor and tax advisor as to legal, business, tax and related matters concerning this offering.
