Working Opportunity Fund

At a shareholder holding on May 18, 2021, WOF shareholders approved a transaction for the sale of all the outstanding shares of the Fund. On May 31, 2021 WOF announced that it had completed the transaction.

Additional information and a set of Q&As are available at the links below. The Q&A on this website are summaries only and we encourage you to read the information circular in full that was set to you and consult your financial, legal, tax and other professional advisors.

For more information please contact Prometa Fund Support Services:

220-155 Carlton Street
Winnipeg, MB, R3C 3H8

Call: 1-888-787-9561 Canada only
Call: 1-204-925-5597 International

Fax: 1-888-747-0984 Canada only
Fax: 1-204-421-9353 International


  • Boreal Genomics

    Boreal Genomics

    Boreal Genomics is committed to developing new technologies for blood-based detection and monitoring of circulating tumor DNA. The company has a team of specialists in molecular biology, engineering and physics with a passion to develop technology that advances next-generation sequencing to help cancer researchers and clinicians transform patient care through earlier detection and monitoring of cancer. 

    Cooledge Lighting

    Cooledge Lighting

    Cooledge Lighting exploits the full potential of LEDs to fuse light with architecture itself. By supplanting bulbs and fixtures with fully luminous surfaces, the company enables the design industry to rethink common spaces as highly customizable and dynamic environments – where illumination is the primary influencer on how people feel, work, shop and interact. Backed by proprietary technologies, award-winning products and thousands of installations, their vision is to give light a new role in the built environment; integral to design, unhindered by staid infrastructure and essential to how we experience a space.

    Cooledge’s innovative products and solutions have received international acclaim from lighting and design industries for advancing the art and science of light with ground-breaking solutions that can unite form with function. 

    Copperleaf Technologies Inc.

    Copperleaf Technologies

    Copperleaf provides decision analytics to companies managing critical infrastructure. Its enterprise software solutions leverage operational and financial data to help clients make investment decisions that deliver the highest business value. In 2018, Canadian Business magazine named Copperleaf one of Canada’s Fastest-Growing Companies for the fourth consecutive year. Copperleaf is a member of The Institute of Asset Management (IAM) and actively participates in shaping the future of asset management standards, including ISO 55000. Headquartered in Vancouver, its solutions are distributed and supported by regional staff and partners worldwide. The company is committed to building a better world, one decision at a time.

    Podcast: Listen to Maria Pacella interviewing Judi Hess, CEO of Copperleaf, here.

    D-Wave Systems Inc.

    D-Wave Systems

    D-Wave Systems is the world’s first quantum computing company and the leader in the development and delivery of quantum computing systems and software. The company’s mission is to unlock the power of quantum computing to solve the world’s most challenging problems. Its systems are being used by world-class organizations and institutions including Lockheed Martin, Google, NASA, USC, USRA, Los Alamos National Laboratory, Oak Ridge National Laboratory, Volkswagen, and many others. D-Wave has been granted over 160 U.S. patents and has published over 100 peer-reviewed papers in leading scientific journals. D-Wave has been the subject of a cover story in Time, and of major coverage in The New York Times, Wired, MIT Technology Review, The Wall Street Journal, and The Economist.

    Blog: Read Rolf Dekleer’s post on quantum computing here.

    General Fusion

    General Fusion

    General Fusion is developing the fastest, most practical and cost-effective path to commercial fusion power. The company is transforming how the world is energized by developing the first commercially-viable fusion power plant. Fusion will deliver clean, safe and on-demand power at industrial scale, providing a powerful complement to renewables and a pathway to a zero-emission grid.

    General Fusion’s team of more than 60 scientists and engineers are world leaders in fusion technology, drawing on expertise in plasma physics, computer simulation and engineering to accelerate the commercialization of the world’s first fusion power plant.

    Redlen Technologies

    Redlen Technologies

    Redlen Technologies is a leading manufacturer of high resolution Cadmium Zinc Telluride (CZT) semiconductor radiation detectors which are enabling a new generation of high performance detection and imaging equipment including Nuclear Cardiology, CT Scanning, Baggage Scanning and Dirty Bomb Detection. With its industry-leading CZT growth technology, pioneered by a management and technical team that is deeply rooted in semiconductor and imaging technology, Redlen is changing the landscape for high performance, cost effective radiation-based medical and security imaging equipment.

    Switch Materials Inc.

    General Fusion

    Switch Materials develops switchable photochromic-electrochromic technology for integration into applications including automotive glass, architectural glass, eyewear and other transportation. Switch’s first product is a film that enables automotive sunroofs to darken automatically in sunlight to reduce heat and glare. The user can lighten the sunroof on demand with a small electric current. Working with partners throughout the automotive supply chain, Switch has developed the only switchable window technology specifically designed to meet the demanding requirements of the automotive industry.



    Teradici is the creator of PC over IP (PCoIP) technology which securely delivers applications or entire workspaces from private data centres, public clouds or multicloud environments to any device. With over 13 million endpoints deployed around the world, Teradici’s solutions are relied on daily by industries including media and entertainment, oil & gas, design, finance, government and healthcare.

    All portfolio company profiles included above are based on information available on portfolio company websites.

  • Maria Pacella

    Senior VP, Private Equity and Portfolio Manager 

    Maria has been investing in emerging growth companies, with a focus on technology businesses since 2001. She spent 11 years with one of Canada’s largest venture capital firms where she invested in multiple early‐stage ventures and served on a variety of boards, mostly in the areas of enterprise software, e‐commerce and medtech. Prior to that, she worked at a digital media firm assisting the company in operational activities and strategic initiatives. She also worked in financial and technology M & A for the Canadian subsidiary of an international investment firm.

    Maria’s experience includes operational roles at early‐stage companies, serving on boards, facilitating M & A’s and leading financings. She has built an extensive technology network across North America, notably in Silicon Valley, and has been a member of C100. She is currently a director on the board of Clarius Mobile Health and BasicGov and an observer on the board of Tantalus Systems. She is also on the SFU Beedie School of Business Advisory Board. She holds a Bachelor of Business Administration from Simon Fraser University, is a CFA charterholder and an active member and a past president of CFA Society Vancouver.

    Read full biography

    Rolf Dekleer

    Vice President, PE/VC Investments

    Rolf Dekleer joined Pender’s investment team in March 2019 as Vice President, Investments PE/VC. Rolf has 19 years of venture capital investment experience. He also has 15 years of operating experience with private and public technology companies such as Cymbolic Sciences, MacDonald Dettwiler, Agilent Technologies, Hewlett-Packard and Schlumberger. He has extensive experience in operations, product management and business development, including over 10 years with venture capital backed firms.

    Rolf has an MA and an MBA from York University, and graduated from BCIT’s Electronics Engineering program. He currently serves as Lab Investigator at CDL-West.

    Current board positions: Boreal Genomics, Cooledge Lighting, Copperleaf Technologies, D-Wave Systems, General Fusion, Switch Materials and VEF. Past board/investment activity includes: Angstrom Power (sold to BIC), Cellex Power (sold to Plug Power), Clearwater Technologies (sold to Terasen), Distrix Networks, Dyaptive Systems (sold to JDSU), EQO Communications, Hydrogen and Fuel Cell Assoc., JGKB/Versawave Technologies (sold to Optelian), NxtGen Emission Controls (sold to Westport), Photonics Industry Assoc., QImaging (sold to Roper), Radiant Communications (sold to Comwave), Redlen Technologies, and Zeugma Systems (sold to Tellabs).

    Tony Rautava

    Investment Associate, PE/VC

    Tony Rautava is an Investment Associate, PE/VC with the Pender investment team with responsibilities for the ongoing management of financial and operational aspects of existing PE/VC investments. He has worked with investment funds since 2003 in the areas of operations, investment management and financial reporting. He is also experienced with compliance and continuous disclosure obligations, having served as the corporate secretary of a TSX listed reporting issuer.

    He is active in the technology and venture capital community in Vancouver, currently serving as a director of the Vancouver Entrepreneurs Forum (VEF).

    Tony holds a BBA with a specialization in Finance from Trinity Western University and has completed several industry related courses.

    Current portfolio board positions include Inetco Systems, Methylation Sciences, Redlen Technologies, Teradici and Vitrium Technologies.

  • September 9, 2021 – Pender Private Investments Announce Proposed Acquisition of a Portfolio Company

    July 27, 2021 – Pender Growth Fund and Pender Private Investments Announce Potential Acquisition of a Portfolio Company

    May 31, 2021 – Working Opportunity Fund Announces Closing of Transaction

    May 19, 2021 – Pender Growth Fund and Working Opportunity Fund Announce Shareholder Voting Results on the Potential Acquisition of the Working Opportunity Fund

    May 12, 2021 – Working Opportunity Fund Updates Ahead of May 18, 2021 AGM

    April 29, 2021 – Working Opportunity Fund Announces an Information Call Ahead of May 18 Shareholder Meeting

    April 7, 2021 – News Release – Working Opportunity Fund Enters into Definitive Agreement and Announces Shareholder Meeting Date

    December 21, 2020 – News Release – Working Opportunity Fund Announces Letter of Intent

    December 18, 2020 – News Release – Working Opportunity Fund Provides Update on Commercialization Series and Update on Scheduling of Annual General Meeting

    July 3, 2020 – News Release – Working Opportunity Fund Provides Update on Commercialization Series

    June 5, 2020 – News Release – Working Opportunity Fund Portfolio Update

    February 28, 2020 – News Release – Working Opportunity Fund Portfolio Update

    January 31, 2020 – News Release – Working Opportunity Fund Portfolio Update 

    November 14, 2019 – News Release – Working Opportunity Fund Update and Announcements

    June 10, 2019 – News Release – Working Opportunity Fund Update

    March 1, 2019 – PenderFund Assumes Management of Working Opportunity Fund

  • Investors

    Investors may request additional information during normal business hours by contacting Prometa Fund Support Services.

    For more information please contact Prometa Fund Support Services:

    220-155 Carlton Street
    Winnipeg, MB, R3C 3H8

    Call: 1-888-787-9561 Canada only
    Call: 1-204-925-5597 International

    Fax: 1-888-747-0984 Canada only
    Fax: 1-204-421-9353 International



    If you have a business idea that you would like to bring to our attention, please email us:

    PenderFund Capital Management
    1640 – 1066 West Hastings Street,
    Vancouver, BC V6E 3X1

    Call: 1‐866‐377‐4743 Canada only
    Call: 1‐604‐688‐1511 International