Inovia Capital Manages More Than US$1 billion
and Has Offices in Canada, the U.S. and the U.K.
Montréal, February 19, 2019 — To promote the development of world-class Québec businesses and support their competitiveness on the international scene, the Fonds de solidarité FTQ is investing US$40 million (C$52.4 million) in the Inovia Growth Fund. This new US$400 million fund will be managed by Montréal-based Inovia Capital. Other investors include Caisse de dépôt et placement du Québec and Investissement Québec.
The Fonds de solidarité FTQ was an early partner of Inovia Capital. Today, the company manages more than US$1 billion in seed and growth funds and has offices in Toronto, Calgary and San Francisco. Also, the company today announced the opening of an office in London, England, and a new US$200 million fund aimed at start-ups.
“To ensure the creation and development of world-class Québec businesses, our entrepreneurs must have access to sufficient, quality capital. That’s how they’ll be able to develop the know-how and expertise they need to succeed. Inovia Capital’s track record and experienced management team make it the ideal partner to achieve our objectives,” said Alain Denis, Senior Vice-President, Investments, Venture Capital at Fonds de solidarité FTQ.
“We’re absolutely thrilled to see that, more than ever before, our Québec entrepreneurs are setting their sights on global markets. Not only does it celebrate this ambition, Inovia Capital is also ready to support these builders, not just with capital but with its world-class operational know-how,” commented Patrick Pichette, General Partner at Inovia Capital
About Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. As at November 30, 2018, the organization had $14.8 billion in net assets, and has helped create and protect over 194,000 jobs. The Fonds has more than 2,800 partner companies and 667,000 shareholder-savers.