Montréal, June 9, 2017 – The Fonds de solidarité FTQ will invest $1 billion in innovation and venture capital over the next five years. The announcement was made by Fonds President and CEO Gaétan Morin at the annual conference of the Canadian Venture Capital and Private Equity Association (CVCA) recently held in Montréal.
Mr. Morin reiterated that the Fonds owes its presence in the Canadian venture and investment capital ecosystem to the tax credits granted to Fonds savers by the Québec and Canadian governments.
Co-chaired by Alain Denis, the Fonds’ senior vice-president of innovation, Invest Canada 2017 was held for the first time in Montréal. The event drew more than 800 movers and shakers from the venture and investment capital industry, including international investors, loan and equity providers, institutional funds, flourishing businesses at the forefront of innovation, government bodies, and service firms and providers, all with a vested interest in accelerating Canada’s innovation ecosystem and by extension, its growth.
Quotes
“We are delighted to see how much Canada’s venture capital ecosystem has matured in recent years. But it still needs to show that it can generate more investment cycles and profitable exits. That’s why the Fonds de solidarité FTQ will continue to back the ecosystem by investing $1 billion in innovation and venture capital over the next five years.”
Gaétan Morin, President and Chief Executive Officer of the Fonds de solidarité FTQ
“In terms of innovation, Québec businesses must quickly make up for the ground lost over the years. We need to act now. Therefore, the Fonds de solidarité FTQ will continue supporting innovation in all sectors of our economy, either through direct investments or through specialized funds.”
Alain Denis, Senior Vice-President, Innovation, Fonds de solidarité FTQ
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. fondsftq.com
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