The FTQ Solidarity Fund wants to intensify its support for Quebec businesses in the start-up phase, through investments as well as a presence in the future Ax-C space, which will open its doors in Montreal next year.
Published at 7:00 a.m.
“We want to build today the companies that will be the flagships of 2030, 2035. It is important not to have a short-term perspective,” says Dany Pelletier, first vice-president, private placements and impact investments at FTQ Solidarity Fund.
The Solidarity Fund announced this Monday an investment of 7.5 million in a fund intended for seed phase campaigns managed by Mistral Venture Partners, which has offices in Toronto and Ottawa. All of this money will be invested in Quebec companies, assures Dany Pelletier.
In July, the Solidarity Fund announced an investment of 10 million in a TandemLaunch investment fund, which is part of the pursuit of the same objectives.
We want to partner with investment funds that bring complementary expertise to the table, and we have others on the way. We want to be at the table, but not just as one investor among many others. We want to have close relationships with these players, and the close relationship means that we want to co-invest with them when possible.
Dany Pelletier, first vice-president, private placements and impact investments at the Fonds de solidarité FTQ
The FTQ Solidarity Fund plans to invest 500 million in venture capital over the next five years, “regardless of the economy,” assures Dany Pelletier. It has 20 people dedicated to venture capital, in three distinct teams – life sciences, energy and environment as well as technology – in addition to an investment committee.
Rub shoulders with entrepreneurs
In addition to financial investments, the Solidarity Fund wishes to support entrepreneurs by meeting them in person from the start of their journey.
Hence the investment in the future innovative entrepreneurship space Ax-C, which will open in 2025 at the Stock Exchange Tower. As it is one of the founding partners – just like Bell, Google and Desjardins – the Fund will have physical space in the offices.
“Ax-C will be the hub of innovation here in Montreal,” believes Dany Pelletier. We want people [du Fonds] are there, rub shoulders with these young entrepreneurs, to give them a network, and get to know them. Because when it comes time to invest in subsequent rounds of financing, we will already know them. We are very much in the virtual world today, but there is nothing better than a space, a physical presence, to meet people. »
“We want to provide, of course, a financial return for our savers, but we also want to produce societal returns. One of the elements is the sustainable growth of our companies. And it starts right from the start. investment [annoncé aujourd’hui] is really in the bootstrapping niche. If we want to have a strong economy, it is important to have innovative companies,” summarizes Dany Pelletier.
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