Launch of a new $45 million investment fund to accelerate the economic development of indigenous entrepreneurs

Wendake, November 27, 2025

First Nations Venture Capital of Quebec (FNVCQ), led by Mr. Haskan Sioui and his team, announces the creation of a major new investment fund by and for Indigenous peoples. With an initial closing of $45 million from institutional investors, Indigenous organizations, private partners, and the Government of Quebec, this new fund is a financial vehicle designed to stimulate economic growth in Indigenous communities in Quebec. This impact fund, entirely designed and managed by indigenous actors, marks a decisive step toward real economic self-determination. FNVCQ II will provide Indigenous peoples with the necessary leverage to invest in structuring projects, create jobs, and build prosperity rooted in their values.

A Vision of Development Driven by Indigenous Peoples

The FNVCQ II Fund will focus its investments on four strategic sectors: tourism, construction, renewable energy, as well as service providers for the development of natural resources. In addition, strategic funding will be granted  in key areas where the potential for Indigenous communities is vast and still under-exploited.

The fund will be managed by a non-profit organization comprising experienced Indigenous managers and a board of directors with a majority of Indigenous members, including three  experienced First Nations women. This unique structure marks the beginning of a new era in Indigenous economic governance.

"This fund is much more than just a financial vehicle. It's a tool for transformation, designed to give back control to  Indigenous peoples over their development and self-determination. For too long, our economic participation has been limited by structures that didn't reflect our realities. Today, we assert our right to choose, invest, and develop autonomously according to our priorities. This fund is another step forward that will accelerate the development of our skills for a new generation that wants to get involved in finance and investment. This is our way of reconciling prosperity and identity, as well as performance and responsibility. " — Haskan Sioui, Chief Executive Officer, Investissement Premières Nations du Québec.

Strategic Partners United for Economic Reconciliation

The fund-raising process enabled stakeholders to meet with investors who shared a genuine desire to make a difference in the Indigenous economic community and the financial ecosystem in Quebec.  Together, they demonstrate that it is possible to build a sustainable Indigenous economic development model based on collaboration and trust.     

The four Indigenous partners include the Native Benefits Plan (NBP), the Montagnais Economic Development Corporation (CDEM), the Native Commercial Credit Corporation (SOCCA), and the Assembly of First Nations Quebec-Labrador (AFNQL), through a trust fund it administers.

On the non-Indigenous partner side, the main investors are the Government of Quebec, through the Ministry of Economy, Innovation, and Energy (MEIE), and the Fonds de solidarité FTQ, which has played a central role since the early stages of the project. The other investors that make up the Fund's financial structure are the CAP Finance Social Finance Fund, backed by the Government of Canada and Desjardins Capital.

"Financial autonomy is one of the essential levers leading to the self-determination of First Nations. The new FNVCQ II investment fund is one of the tools that will help stimulate the economic growth of our First Nations and strengthen their autonomy." – Francis Verreault-Paul, Chief of the AFNQL.

"With the FNVCQ II Fund, we are enhancing the financing available to Quebec's Indigenous communities to further stimulate entrepreneurship, innovation, and the implementation of structuring projects. I'm hopeful that together, we can accomplish great things. Indigenous entrepreneurs are essential partners in growing our economy. The entire province of Quebec, and particularly its regions, will benefit from the impact of these projects. " — Ian Lafrenière, Minister of Public Security, Minister Responsible for Relations with the First Nations and the Inuit, and Minister Responsible for the Nord-du-Québec Region.

 "As the largest sponsor of FNVCQ II after the government, the Fonds de solidarité FTQ is proud to lend its support for a second time to a fund designed and managed by First Nations. This impact fund embodies our shared desire to generate tangible financial and societal returns for Indigenous communities and Quebec as a whole," said Philippe P. Huneault, Vice-President, Private Equity and Impact Investing – Fund Management, and Chief International Business Development Officer, at the Fonds de solidarité FTQ.

"FNVCQ II strengthens a thriving Indigenous economic ecosystem. First Nations entrepreneurs have ambitious, innovative projects that are rooted in their realities. By supporting this fund, the Native Commercial Credit Corporation (SOCCA) is helping to create the right conditions for these projects to get off the ground and thrive, while generating tangible returns for communities," said Martin Légaré, CEO of SOCCA, one of the Indigenous partners.

"By renewing this commitment through the FNVCQ II Fund, Desjardins Capital reaffirms its intention to support the growth of Indigenous businesses and contribute to their sustainable development. This initiative reflects our mission to back impactful projects for Indigenous communities and to generate tangible economic benefits," said Nathalie Bernard, Chief Operating Officer at Desjardins Capital.

FNVCQ wishes to thank its legal advisors at Davies Ward Phillips & Vineberg for their contribution throughout the process that led to the creation of FNVCQ II.

About FNVCQ

First Nations Venture Capital of Quebec (FNVCQ) is an Indigenous investment firm founded in 2002 that supports Indigenous peoples by focusing on structural and sustainable economic opportunities. Through its impact funds, FNVCQ invests in businesses and projects owned wholly or in part by Indigenous peoples, generating financial and societal returns that contribute to economic growth and self-determination for communities across Quebec.

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