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Financing Solutions that Fit

Ottawa, Ontario – October 12, 2004 – Nakina Systems Inc. (“Nakina”) a provider of network and service assurance software solutions to service providers and network operators worldwide, today announced the successful closing of US$2.25 Million worth of debt financing from MMV Financial Inc. (“MMV Financial”). MMV Financial specializes in debt financing for investment targets in various stages of evolution in the technology and life sciences sectors.

Nakina, an Ottawa-based firm, recently completed a sale to a Tier 1 U.S. telecom service provider and has several trials in progress with other Tier 1 service providers in Canada and the U.S. The funds from MMV Financial will be used to expand Nakina’s R&D team, consisting of network management software specialists, in order to keep up with rapidly expanding customer requirements.

MMV Financial, a Toronto-based firm, was previously known as MM Venture Partners. As MM Venture Partners, the company invested out of a venture partnership with publicly traded GATX. The repositioning of the company as MMV Financial coincides with its continued focus on providing creative debt financing solutions to emerging and mid-market companies in the technology and life sciences sectors. MMV Financial is seeking to allocate capital amounting to roughly C$300 million, with a stated target of investing $50 to $60 million in some 15 to 20 companies annually. The firm has received backing from U.S. and Canada-based private equity firms and financial institutions including Caisse de depot et placement du Quebec of Montreal, Conning Capital Partners of Hartford, Connecticut, and Wells Fargo Foothill, a part of Wells Fargo & Company.

"We’re making the investment in Nakina because their products solve real-life headaches by simplifying how service providers manage their telecommunications networks,” explains Ron Patterson, Executive Vice President of MMV Financial. Patterson adds: “A service provider can deploy Nakina’s software in its network and realize a payback of its entire investment within just a few months. That translates into substantial, compelling value for their potential customers. As such, Nakina is a perfect example of the type of company we like to invest in.”

“MMV Financial is emerging as a leader in this alternative type of funding for high technology companies. Because of their experience in financing enterprises in the high tech sector, they are able to quickly assess investment targets in the interest of making timely decisions,” explains Dave Vicary, President & CEO of Nakina. “They also have 60 years of experience in technology and an extensive set of relationships to offer, which is something we can leverage at Nakina. We’re very excited to have MMV as an investment partner,” concludes Vicary.



About Nakina Systems
Nakina Systems is an independent software vendor delivering innovative solutions to service providers and system integrators worldwide. With a focus on operational effectiveness and network profitability, Nakina Systems’ multi-vendor element management and VoIP performance management solutions enable new services while reducing operating costs in large scale networks. Nakina’s adherence to network and software standards provides network operators with the flexibility to select and implement best of breed products, from Nakina Systems and Nakina Systems’ partners in existing and next generation networks.


About MMV Financial

MMV Financial Inc. is a Toronto based specialty finance company providing creative debt financing solutions directly to early to mid-stage technology and life sciences companies with a focus on the Canadian and North American sectors.



For More Information:

Costa Constantakis

Director of Marketing

Nakina Systems Inc.

Phone: (613) 254-7351 ext. 307

Fax: (613) 254-7352


Ron Patterson

Executive Vice President

MMV Financial Inc.

Tel: (416) 977-9718
Fax: (416) 591-1393




Copyright © 2004 Nakina™, Simply Profitable Networks™, and the Nakina logo are trademarks or registered trademarks of Nakina Systems Inc. in the United States, Canada, and other countries.


Copyright ©2004 MMV Financial Inc. All rights reserved.




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