Golden Opportunities Fund Investments Generate $3 Billion in Economic Impact in the Province of Saskatchewan
Saskatoon, Saskatchewan – November 27, 2018 – Golden Opportunities Fund (“Golden”) is pleased to release the results of an Economic Impact Estimate completed by the Saskatoon Regional Economic Development Authority (“SREDA”) which estimates the economic impact of Golden’s investments to be $3 Billion in Saskatchewan.
Golden was launched as Saskatchewan’s first Provincial Retail Venture Capital (RVC) Fund in 1998. RVC Funds allow investors to keep their money invested at home building local companies and strengthening the local economy. Approximately one in every twenty Saskatchewan tax payers is invested in Golden.
SREDA utilized widely used economic impact models and independent economic multipliers from Statistics Canada to complete the Economic Impact Estimate. Impact was calculated on investments made in the Province of Saskatchewan by Golden over the 20 year period from 1998 to 2018.
The study also revealed significant employment and community impact from Golden’s investments. The study revealed that the 130 Saskatchewan companies in which the Fund has invested in over the past 20 years have impacted more than 15,000 jobs for Saskatchewan people. This impact was made across 88% of Saskatchewan towns and cities (with populations greater than 1,000 people) that have felt the effects of dollars invested. In many cases, the Golden investee company was one of the largest employers in some of the smaller centres.
“SREDA has completed numerous economic studies for leading organizations in Saskatchewan over the past four years, but these are by far the largest impact numbers that we have seen for this type of study,” comments Alex Fallon, CEO of SREDA. “What a great example of success that can come from investment into Saskatchewan.”
“Congratulations to the people of Saskatchewan for keeping their money invested locally and the impact that you have made,” comments Grant Kook, President and CEO of Golden. “We look forward to continuing to invest in Saskatchewan helping to build a strong economy in this great Province.”
About Golden Opportunities Fund Inc.
Golden is the first and longest-standing Provincial Retail Venture Capital Fund in Saskatchewan founded 20 years ago. Golden makes strategic investments in high-growth sectors of the economy to maximize shareholder value. The Fund is managed by Westcap Mgt. Ltd., a leading private equity and venture capital fund manager that, in the past 25 years has completed over $1 billion in transactions in more than 200 growth companies. Learn more at GoldenOpportunities.ca or WestcapMgt.ca.
Founded in 1992, SREDA is an independent economic development authority with the mandate to strengthen and grow the local economy. Over the past four years, the organization has won several provincial, national and international awards for excellence in economic development from organizations like the Economic Development Association of Canada (EDAC) and the International Economic Development Council (IEDC). SREDA’s economic impact studies form part of the work the organization provides to members as part of its Economic Forecasting and Analysis pillar.
For more information, please contact:
Westcap Mgt. Ltd.
830, 410 – 22nd Street E.
Phone: (306) 652-5557
103-202 4th Ave N
Phone: (306) 664-0720