Recapitalization of Anges Québec Capital: good news for business start-ups in the city’s leading-edge industries

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Added on 3 February 2015 in Press releases

Montréal, February 3, 2015 – The Board of Trade of Metropolitan Montreal welcomes the recapitalization of the Anges Québec Capital fund announced today by the Government of Quebec and its partners, with Quebec Premier Philippe Couillard and the Minister of the Economy, Innovation and Exports, Jacques Daoust, on hand. It is pleased that thanks to the Government of Quebec’s partnership with the Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and Investissement Québec, the members of the Anges Québec network now have $85 million at their disposal to invest in companies in the seed and start-up stages in strategic sectors for the city.

“This is great news for the city’s leading-edge sectors,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “By targeting information technology, life sciences, industrial technology and other areas, the fund’s recapitalization opens doors to innovations and structuring projects within our city’s economic fabric.”

“This is particularly helpful because access to financing and venture capital is a major issue for companies in the seed and start-up phases, as they are not well served by traditional funds,” Michel Leblanc said. “By investing up to two dollars for every dollar contributed by angel investors, the fund furthers efforts to stimulate private investment and entrepreneurship.”

“Quebec and Montréal have less entrepreneurial drive than the rest of Canada,” Mr. Leblanc said. “Only 19.1% of the population of Quebec has indicated a desire to go into business, compared with 27.1% for the rest of the country, and 9.1% of people actually take steps to do so, compared with 13.9% in the other provinces. This is why the Board of Trade has made entrepreneurship one of its five priorities for the coming years. We have to catch up and give local entrepreneurs the means to create and companies the means to grow.”

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal has over 7,000 members. Its mission is to be the voice of Montréal’s business community and to promote the city’s prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration and innovation. The Board of Trade also offers a range of specialized services to individuals and to business of all sizes to support them in their growth at home and abroad.

 

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Source: 
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042

 

mllambias@ccmm.qc.ca

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