New Venture Fund It looks like most of the deadwood has been cleared away at Pinetree. The legacy resource stocks now make up only 8% of the portfolio, with new tech investments making up the rest. Under new management, 45% of the fund is now denominated in foreign currencies. One legacy holding in Canada has recently undergone a transformation. Augusta Industries has reorganized as a venture capital fund, spinning off the sensor tech business in a merger with Mooncor Oil & Gas Corp. Pinetree holds a legacy 9.9% interest in the new venture fund, called IntellaEquity Inc. (IEQ) which holds about 90% of the old Augusta, (now called Sensor Technologies - SENS), along with 3 mil in debentures and up to 12 mil in future royalties. To make things even more interesting, IEQ is distributing free shares of SENS to all shareholders, so Pinetree will end up with about 5% of Sensor Technologies as a bonus. As both of these companies recover from dramatic rollback sell-offs, we should see a modest bump in Pinetree NAV next quarter.