AQC Capital rolls out second Quebec early-stage VC fund

Venture capital firm AQC Capital has launched a new fund to invest in Quebec early-stage companies.

Venture capital firm AQC Capital has launched a new fund to invest in Quebec early-stage companies. Anges Québec Capital II was capitalized with C$64 million with commitments from Investissement Québec and Teralys Capital, as well as Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, Fondaction and Finalta. It will invest mainly in clean technology, medical, financial, industrial, artificial intelligence and software sectors.


MONTRÉAL, June 3, 2021 /CNW Telbec/ – AQC Capital is proud to announce the creation of a new investment fund worth close to $64 million, Anges Québec Capital II, sponsored by Investissement Québec, Teralys Capital in collaboration with the Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, Fondaction and Finalta. These funds will be made available to propel forward the Quebec start-ups that rely on innovation to fuel their enduring international growth ambitions. AQC Capital is a pioneer in venture capital in Québec, supporting companies at various seed and start-up stages, mainly in the clean technology, medical, financial, industrial, artificial intelligence and software sectors.

Boosting Local Innovation
As one of the most dynamic venture capital funds in the Quebec ecosystem, AQC Capital has played a crucial role since 2012 in accelerating the creation and development of innovative companies throughout Quebec. The previous fund, with $86 million in capital, supported more than fifty entrepreneurs, many of whom have created some of the most promising companies in their field, such as BonLook, MIM’s, Moka and Sportlogiq. In the context of the economic recovery, the announcement of AQC Capital’s new fund will provide the support that many entrepreneurs need to grow their businesses, in addition to enabling them to create jobs and generate sustainable spin-offs in Quebec.

New Fund, New Team
The announcement of the fund’s recapitalization is aligned with an update to the positioning of AQC Capital, formerly Anges Québec Capital, which embodies a new vision focused more on coaching entrepreneurs. In fact, AQC Capital has teamed up with the Anges Québec network to offer not only capital to finance their growth, but most importantly coaching from active and involved angel investors who are contributing their experience and networks. In addition, AQC Capital’s team of experienced managers allows entrepreneurs to bring their companies into a wider network of potential investors to help them develop markets with a global dimension.

“Investment capital is essential to the growth of young and innovative companies at the start-up stage. The Ange Québec Capital II fund meets a clear demand from our entrepreneurs to fill a gap in the capital chain. I am convinced that the interventions of this fund will accelerate the emergence of tomorrow’s Quebec flagships. ”
– Lucie Lecours, Quebec Minister for the Economy

“Today’s announcement sends a strong signal to creative and ambitious entrepreneurs who have solid business projects and a thirst to conquer the world: AQC Capital is there to give them the impetus they need to develop, prosper and become the drivers of Quebec’s economy. AQC Capital has been at the heart of many great stories, and this is just the beginning! By opening up more to our own ecosystem and to the network of potential co-investors across Canada, AQC Capital will be able to mobilize more players capable of propelling our most promising companies forward to strengthen Quebec’s competitiveness and ensure its international reach.”
– Serge Beauchemin, Associate Manager, AQC Capital

“We are proud to reiterate our confidence in the team at AQC Capital. By focusing on experienced angel investors, we are confident that we will see promising new companies emerge that will contribute to the vibrancy of our entrepreneurial ecosystem for many years to come. Alongside such investment partners, we will continue to play a role in supporting the emergence of our growth companies and in promoting the development of our expertise, both here and internationally.”
– Guy LeBlanc, President-CEO, Investissement Québec

“For more than a decade, Teralys Capital has built the largest innovation-focused investor in Canada while placing the success of high-potential entrepreneurship in Quebec at the core of its action. By contributing our expertise as ecosystem builders, we are proud to be part, through our dedicated seed-stage program, of the consolidation and expansion of an established player focused on that investment stage. Our commitment represents an opportunity to continue to promote and implement the best practices at a segment that is critical to the vitality of the entire venture capital industry in Quebec.
– Seif Belhani, Principal, Teralys Capital

“Emerging from the pandemic, the fight against climate change, the technological shift of businesses, the labour shortage: the challenges will be numerous in the coming years, but the opportunities will be just as great. Thanks to AQC Capital’s new fund, many innovative entrepreneurs will have access to the financing they need to realize their ambitions and build the economy of tomorrow. Investing in a better society also means supporting start-ups with venture capital so they can change the world. ”
– Janie C. Béïque, President and Chief Executive Officer, Fond de solidarité FTQ

“Innovation is essential to building a more equitable, inclusive, green and efficient Quebec economy. For more than 10 years, the angel investors grouped within Anges Québec have demonstrated that they play a key role in supporting young, innovative companies. Fondaction is pleased to contribute, through its financing of AQC Capital, to a fund that draws on the expertise of angel investors, increases their capacity to act and strengthens their ties with the private equity ecosystem.”
– Geneviève Morin, President-CEO, Fondaction

“AQC Capital and its new $64 million investment fund are a strategic asset for Anges Québec’s angel investors, reaffirming the importance of their unique partnership in the Canadian venture capital ecosystem. Even closer to entrepreneurs, the new AQC Capital team is an excellent reflection of the modern Quebec entrepreneurial community, which is increasingly rich in diversity and inclusion. Finalta Capital, one of Canada’s largest lenders of tax credits and grants, is very proud to partner with such a team as they both have the goal of helping local entrepreneurs reach the top through access to significant capital while they are still in the early stages of their development. ”
– Maxime-Jean Gérin, President and CEO, Finalta Capital

About AQC Capital
AQC Capital is a venture capital fund with more than $ 150M under management available to innovative start-ups in Quebec. Always investing with successful angels who are members of the Anges Québec Network, the AQC Capital team offers active and dynamic support in addition to the capital necessary for entrepreneurs to elevate themselves to the highest heights. To date, AQC Capital has invested in 53 innovative companies.