Fonds de solidarité FTQ has committed US$17.7 million (C$22.5 million) to Lumira IV, the fourth flagship offering of Lumira Ventures, a Canadian life sciences venture capital firm. Fonds has supported Lumira since the creation of the Toronto-based manager in 2007.
MONTRÉAL, Feb. 4, 2021 /CNW Telbec/ – As part of its strategy to support Québec’s life sciences sector through well-performing specialized funds, the Fonds de solidarité FTQ (“Fonds”) is investing US$17.7 million (C$22.5 million) in Lumira IV. Over the years, Lumira has invested in Québec companies such as enGene, Kisoji, Opsens and IMV.
“Managed by a deeply committed and experienced team, Lumira has, over the years, helped improve patient care while generating positive returns for investors. This vision is very well aligned with the Fonds de solidarité FTQ and as a result, in addition to being an investor in Lumira funds, the Fonds has frequently co-invested with Lumira to support the vitality of the life sciences sector. The addition of multiple new strategic partners in the new fund, including RBC, speaks to the skill and depth of this excellent team and the opportunities in the life sciences sector,” said Geneviève Guertin, Vice-President, Investments, Life Sciences, at the Fonds.
The Fonds has supported Lumira since the creation of the franchise in 2007.
Since 1989, the Fonds de solidarité FTQ has invested $1.6 billion to support the Québec life sciences sector. Today, the Fonds dedicated life sciences team has eight members, including a senior scientific advisor. The team invests directly in life sciences companies as well as in life sciences investment funds.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 700,000 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $15.6 billion in net assets as at November 30, 2020, the Fonds has supported more than 3,300 partner companies and over 220,000 jobs. To learn more, visit fondsftq.com.