Highlights
- A 32% increase over the 5-year average
- Deployment of the Fonds’ investment strategy following its first-ever strategic planning exercise announced in April 2016
- Investments of $873 million, including notably:
- $281 million in sectors of excellence (aerospace, agri-food, forest products and life sciences)
- $94 million in innovation
- $144 million to secure the future of Québec businesses
Montréal, June 20, 2017 – In the first year of the investment strategy deployed following its strategic planning exercise, the Fonds de solidarité FTQ invested $873 million to further Québec’s economic growth and to create and maintain jobs.
Announced in April 2016, the Fonds’ investment strategy calls for increasing investments in Québec’s sectors of excellence: aerospace, agri-food, forest products and life sciences. The Fonds also intends to encourage companies to step up innovation and to help ensure the sustainability of local flagship companies.
The Fonds’ most notable investments in the agri-food industry are $6.8 in
Productions Horticoles Demers, which will be used to build Québec’s largest tomato greenhouse, and $3 million to allow
Fermes Lufa to build a third urbangreenhouse.
In IT, the Fonds invested in innovative firms such as
District M ($8 million) and
Solutions Processia ($4.2 million) to help them expand on the international market.
As well, to support the life sciences sector and attract investment to Québec, the Fonds invested $20.1 million in specialized fund Versant Venture Capital VI.
The Fonds’ full financial results for fiscal 2016-2017 which ended May 31, 2017, will be unveiled on July 5, 2017.
Quote
“Last year the Fonds announced more support to further the growth of the aerospace, agri-food, forest products and life sciences industries, to encourage innovation and to help ensure the sustainability of Québec businesses. Since then, more than half of our investments have been dedicated to these priorities, while the remaining funds were allocated to the other sectors of the economy in which we are active. With a total of $873 million invested in the first full year since we completed our strategic planning exercise, we are therefore on track to achieve our $3 million objective by the end of fiscal 2020.”
Normand Chouinard, Executive Vice-President, Investments, 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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Information for media representatives only:
Patrick McQuilken
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
Phone: 514 850-4835
Mobile: 514 703-5587
Email:
pmcquilken@fondsftq.com