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Toronto/Vancouver, September 18/2001 - RoyNat Capital - www.roynat.com - and the Smart Seed Fund - www.smartseed.net - two of Canada's premier sources of venture capital announced today, a $2 million partnership investment, and a $3 million dollar debt restructuring in Altus Solutions - www.altussolutions.com - a telecommunications network performance and management software vendor. The company's software solutions are currently Compaq's exclusive choice for network performance management and metrics.
Based in Vancouver, British Columbia, Altus Solution's primary directive is to become the leading vendor of software solutions that allow TSP's (Telecommunications Service Providers) to manage the service performance of their very large and expensive current and next generation voice and data networks. The company's software is already being utilized by a variety of global communications carriers from Cable and Wireless Jamaica, to Mataav in Hungary.
Altus Quote Here
“RoyNat was extremely impressed by the depth and determination of the Altus team”, said Mike Stewart, Senior Investment Manager of RoyNat Capital Inc., “in any development intensive financing ideally you invest in the team that has done it before and has the partnerships to mitigate risk. Altus embodies our key investment criteria and we are proud to be a part of this round.”
Smart Seed General Partner Shaheen Tejani stated, "The software that Altus develops is critical for TSP's now and in the future, as the current revenue models for these communications carriers is already moving towards pricing models based on the level of service provided."
About RoyNat Capital
RoyNat Capital has been providing financial solutions to businesses across Canada since 1962, and remains Canada's leading private term, sub-debt and equity finance provider. Investment staff in our 22 offices are committed to working with companies to understand their long term objectives and assist in providing responsive and understanding solutions utilizing unconventional approaches where necessary.
About Smart Seed Fund:
Smart Seed Fund helps turn young high-potential companies into World-Class companies by providing complimentary management skills, networks, and capital. Our true focus on the critical "early stage" makes Smart Seed the source for young high-potential companies looking to grow and develop.
Please Contact For Additional Information:
RoyNat Contact Here Shaheen Tejani - General Partner Smart Seed P: 604.408.4100x102 E: Shaheen@smartseed.net
Altus Contact Here
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