AGF Management Limited (AGF) (TSX:AGF.B) announced today a strategic private equity partnership with First Ascent Ventures (“First Ascent”) focused on investing in emerging technology companies that are building the next generation of disruptive, fast growing enterprise B2B software companies. AGF will make a $30 million cornerstone investor commitment to First Ascent’s second fund and will be a member of the Limited Partner Advisory Committee (LPAC) of the fund.

“We are excited about this initial cornerstone investor relationship with First Ascent as the first step to future business and fostering a long-term relationship together,” said Kevin McCreadie, Chief Executive Officer and Chief Investment Officer, AGF. “We continue to look to strategically deploy our capital and diversify our relationships within the private marketplace, and with First Ascent we are expanding our private alternatives platform to include private equity and venture capital opportunities focused on the venture growth, and growth equity segments.”

“We see an unprecedented opportunity for us to invest in a top-tier portfolio of emerging technology companies and First Ascent boasts an established track record we believe provides distinct and unique value to our shareholders,” added McCreadie.

First Ascent was founded in 2015 and the founding partners of their initial fund, Richard Black and Tony van Marken, have been involved with over 35 technology companies as founders, operating executives, board members and significant investors with a track record of successful revenue growth and premium returns. First Ascent targets companies led by outstanding, committed entrepreneurs that have growing annual recurring revenues with a differentiated product offering and top tier customer references.

“We are delighted to partner with AGF, a firm with a long history of innovation known for its operational, distribution, financial product design and governance expertise in both the public and private markets,” said Richard Black, co-founder and Managing Partner of First Ascent. “The cornerstone investment from AGF demonstrates the confidence in the market for our second fund where we will be looking to extend our reach and to continue investing in growing enterprise software companies that are solving real technological problems for the enterprise.”

“We look forward to working with the management team of AGF and to mutually create a long and prosperous relationship together,” added Black.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.AGF has investment operations and client servicing teams on the ground in North America, Europe and Asia. With over $42 billion in total assets under management and fee-earning assets, AGF serves more than 700,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Media Contact

Amanda Marchment Director, Corporate Communications 416-865-4160 amanda.marchment@agf.com

About First Ascent Ventures

First Ascent Ventures invests in emerging technology companies that are building the next generation of disruptive, enterprise B2B software that leverages the cloud, artificial intelligence (AI), machine learning, big data, 5G, mobility and IOT with a focus on companies that are solving the challenges related to data privacy and security in the enterprise. First Ascent Ventures is looking for outstanding, committed entrepreneurs and management teams who seek not just financial backing, but the experience and expertise of successful financial and operating executives who can create a catalyst for growth and ultimately a successful exit for all stake holders.

For more information please see www.firstascent.vc

Media Contact

Tony van MarkenManaging Partner647-271-4564tony@firstascent.vc

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