TORONTO, ONTARIO--(Marketwire - Dec. 9, 2010) - The five VenGrowth retail venture capital funds (The VenGrowth Investment Fund Inc., The VenGrowth II Investment Fund Inc., The VenGrowth III Investment Fund Inc., The VenGrowth Advanced Life Sciences Fund Inc., and The VenGrowth Traditional Industries Fund Inc. (collectively the "VenGrowth Funds")) received this evening an unsolicited, non-binding merger proposal from the GrowthWorks Canadian Fund Ltd.