Québec is an integral part of the global life sciences network
MONTRÉAL, Aug. 17, 2016 /CNW Telbec/ - In order to attract more investment to Québec's life sciences sector, the Fonds de solidarité FTQ today announced a $15 million investment in the Genesys Ventures III fund.
"This new investment is in keeping with the strategy of the Fonds de solidarité FTQ to work with specialized funds such as Genesys that have a solid track record and an investment history in Québec. Our goal is to strengthen Québec's foothold in the global life sciences network and consolidate jobs in this sector," said Alain Denis, Senior Vice-President, Innovation, at the Fonds de solidarité FTQ. "This investment will also have spinoffs in the rest of Canada, which besides Québec, has other concentrations of expertise in this sector."
"Genesys will back companies capable of advancing technologies and products that address unmet medical needs. It provides seed-stage funding and works closely with the company's owners. The availability of capital from Québec partners like the Fonds, together with qualified labour and research infrastructures, are major advantages for an industry seeking to attract more investment to Québec," added Didier Leconte, Senior Investment Director, Life Sciences, at the Fonds de solidarité FTQ. "With its clear strategy, specialized team, disciplined and steady investments thanks to the confidence shown by its shareholders, the Fonds de solidarité FTQ is moving ahead, step by step, towards realizing its vision of transforming Québec into a global biotech hub."
Genesys Capital is focused on building companies in the high-growth sectors of healthcare and biotechnology. Through its expertise and network, Genesys accelerates the development of commercially viable emerging companies that represent promising life science investment opportunities. Genesys is one of the largest Canadian-based venture capital firms exclusively focused on the life sciences industry.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at May 31, 2016, the organization had $11.7 billion in net assets, and through its current portfolio of investments has helped create and protect 187,414 jobs. The Fonds is partner in more than 2,600 companies and has 618,551 shareholder-savers. www.fondsftq.com
SOURCE Fonds de solidarité FTQ
Image with caption: "Alain Denis, Senior Vice-President, Innovation, Fonds de solidarité FTQ (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20160817_C8898_PHOTO_EN_754601.jpg
For further information: for media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Mobile: 514 703-5587, Email: [email protected]