MONTRÉAL, Oct. 8, 2014 /CNW Telbec/ - In an effort to support business start-ups, Anges Québec and the Fonds régionaux de solidarité FTQ (FRS) have signed a collaboration agreement that will facilitate referrals between the two organizations.
"As a group of investors whose primary focus is backing start-ups in Québec, Anges Québec is pleased to align itself with the Fonds régionaux de solidarité FTQ, which share our vision for Québec's economic development. This partnership will allow the two organizations to better serve their respective clienteles," said François Gilbert, President and Chief Executive Officer of Anges Québec.
"Since the Fonds régionaux de solidarité FTQ are actively engaged in providing financing for regional SMEs in Québec, this new partnership with Anges Québec makes perfect sense as it will make it easier for prospective FRS partners to access Anges Québec's network and vice-versa," added Luc Pinard, President and Chief Executive Officer of the Fonds régionaux de solidarité FTQ.
Brought together by a common goal to better support businesses in the regions, the two organizations will refer investment opportunities to each other and in some cases co-invest.
The FRS will refer to Anges Québec pre-seed projects that do not fit into their programs or projects in need of additional capital. Anges Québec may invite the FRS to participate in subsequent funding rounds for the referred company. Anges Québec may also invite the FRS to participate in other investment opportunities, either in the form of private equity or loans to provide entrepreneurs with additional financial resources.
The FRS recognize the added value delivered by Anges Québec, which in addition to providing capital, offers entrepreneurs coaching tailored to their needs. Anges Québec views the FRS as a key actor in regional business financing.
About Anges Québec
Anges Québec is a network of 160 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential. In this capacity, Anges Québec works with a number of key Québec organizations interested in the development and growth of technological innovations. So far, Anges Québec members have invested and reinvested in more than 50 promising businesses in the seed and startup phases.
About the Fonds régionaux de solidarité FTQ
Integral part of the Fonds de solidarité FTQ network since they were launched in the spring of 1996, the 16 Fonds régionaux de solidarité FTQ have been actively participating in the economic development of the regions of Québec. As of August 31, 2014, the Fonds régionaux's portfolio comprised 363 partner companies, bringing the total number of jobs created or protected to more than 16,000. Total investments stood at $270.4 million. For more information, please visit www.fondsreg.com.
SOURCE: Fonds de solidarité FTQ
For further information: For media representatives only: François Gilbert, President and CEO, Anges Québec, Phone: 418-261-0011, Email: [email protected]; Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile : 514 703-5587, Email: [email protected]; For Fonds de solidarité FTQ shareholders: Shareholder Services, Fonds de solidarité FTQ, Montréal: 514 383-3663, Québec: 418 628-3663, Toll Free: 1 800 567-3663