TORONTO - Canadian venture capitalists are expressing cautious optimism, according the Toronto Venture Group (TVG). An informal survey of 37 companies who participated in the 2002 VentureFair found that while there has been a drop in the total volume of venture capital funding, there has been no reduction in the number of deals being closed. VentureFair, sponsored by TVG, is an annual event where investors can have access to Canadian companies looking for venture capital money.

A look at past VentureFair results support these latest figures:

Years	2002	2001	2000
Total number of presenting companies	37	40	37
Total funds sought	$245MM	$400MM	$340MM
Companies that received funding	13	17	13
Total funds committed	$45MM Cdn reported $100MM Cdn est'd	NA	NA

"This is extremely encouraging for the companies that will be presenting on March 25 at this year's VentureFair in Toronto," says Karen Grant, Executive Director of TVG. "It means that many of the 35 to 40 companies that will be on stage this year have a real opportunity to raise the money they need for growth."

The 2003 VentureFair will be held on March 24 and 25 at the Sheraton Centre Hotel in Toronto. TVG expects 500 to 600 Canadian and American venture capital companies to attend. For more details visit the website at wwww.venturefair.com.

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