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A new venture capital fund that supports the creation and growth of next-generation technology flagships




With the support of financial and institutional partners, Boreal Ventures will have an initial investment capital of $ 26 million.

Montreal, February 17, 2021 / CNW Telbec /-Quebec is an innovative ecosystem with the launch of Boreal Ventures, the first venture capital fund dedicated to Quebec’s high-tech (“deep tech”) companies. Welcome new players. The fund was created in partnership with Centech, a Montreal-based incubator specializing in technology, to support the development of pre-seed and seed-stage companies in science and engineering. Boreal Ventures has an initial investment capital of $ 26 million to support companies born from the innovative ecosystem of Centech and Quebec. The start-ups covered by this new fund operate in the applied science (deep technology) sector, including artificial intelligence, healthcare technology, Industry 4.0, and connected objects.

“Boreal Ventures addresses the true needs of deep technology companies,” explains Boreal Ventures Managing Partner David Charbonneau. State-of-the-art innovation is characterized by a development cycle that is longer and requires more capital than a pure software counterpart. There is very little Canadian funding available for this type of company, but the potential for companies specializing in deep technology is enormous, and what they produce will meet the needs of today’s and future societies. In addition to supporting companies with strong growth potential, Boreal Ventures wants it. Play a unified role in Quebec and help attract foreign capital to support local innovation. “

“This new fund provides the financial leverage that entrepreneurs need to start and grow ambitious projects. Government support for successful high-tech companies is essential to a recovery,” Quebec said. Said Pierre Fitzgibbon, Minister of Economic Innovation.

Initiatives in collaboration with Centech Boreal Ventures and Centech have signed a contract to improve delivery to deep tech companies and close the gap in Quebec’s innovative ecosystem through a common perspective.

“The creation of Boreal Ventures supports Centech’s ambition to become one of the 10 most successful incubators in the world,” said Richard Chnier, CEO of Centech. In addition, it boosts the growth fund pipeline by guiding companies to the maturity demanded by these investors, who tend to be underdeveloped at this stage of development. It will also support scientific development in Quebec and increase the pool of companies Boreal Ventures wants to invest in in the future. “

Centech has a good reputation. Since 2016, it has reviewed about 1,175 projects, raising more than $ 150 million in funding and creating nearly 500 jobs. These companies have a 65% survival rate after 5 years. With privileged access to Centech professionals, Boreal Ventures will rely on an expanded interdisciplinary team to support due diligence services, operations, and reaching out to funds and the companies they support. I can.

As Quebec is an important player in the artificial intelligence industry and a university-originated study, one of Boreal Ventures’ main objectives is to maximize the potential of Quebec’s high-tech entrepreneurial cluster. The fund’s ambition is to promote the state in the international scene in order to maintain talent and participate in the next generation of Quebec economy.

Boreal Ventures partners include the Government of Quebec through Investissement Qubec, Teralis Capital, Desjardins Capital, BDC Capital, Hewitt Group, and the cole de technologie suprieure (TS).

Quote from our partner “We are delighted to be part of the creation of the Boreal Ventures fund. With the support of our experienced incubator, Centech, we have a front row seat to witness the emergence of new technology champions who will contribute to vitality. Investissement Qubec Guy LeBlanc, President and CEO of Guy LeBlanc, said of the innovation ecosystem: Investissement Qubec will continue to play its role with financial partners to support growing companies that drive the emergence and development of new technology expertise. I will do it. “

Seif Belhani, Principal of Terraris Capital, said: “By putting the development of high potential entrepreneurship at the center of our activities, we have built Canada’s largest professional innovation investor in Montreal. We support the development of cutting-edge local innovation. We are particularly proud to work with Caisse de dpt etplacement du Qubec through a program dedicated to the Quebec Seed Fund to help create a new venture capital manager. Implementation of our industry’s best practices. “

“Quebec can aim for great ambitions in terms of scientific and engineering innovation, which is why Dejardan Capital was Centech’s early partner in the establishment of this fund. Our goal is Quebec. To create winning conditions to support our companies. Become the leader of tomorrow’s innovative economy. ” Marie Hirne Norret, Chief Executive Officer of Dejardan Capital, added.

“Quebec has a lot to offer in terms of innovation. There is no doubt about the role Quebec should play in the future of technology around the world,” said David Hewitt, President of the Hewitt Group. To support this Quebec-based incubator and the flagship of tomorrow’s innovative economy. “

Jrme Nycz, Executive Vice President of BDC Capital, said: “The cole de Technologie suprieure (TS) today integrated several Quebec universities to create a strong Canadian R & D and created Centech to inspire innovation.-Step-by-step financial support; Boreal Ventures Fund BorealVentures will serve the generation of deep tech companies and entrepreneurs that BDC Capital is striving to act as a bridge between early corporate establishment platforms and late investors. Empowering. Support “.

About Boreal Ventures Founded in 2021, Boreal Ventures is an investment fund. Its mission is to harness local scientific talent to participate in the creation of tomorrow’s technical flagship. Boreal Ventures’ philosophy is based on the transparency and dedication of the portfolio to the company’s success. Boreal Ventures aims to make a powerful “deep tech” ecosystem one at a time. Boreal Ventures will achieve this by acting as a catalyst for talent pipelines and growth by making $ 26 million in investment funds available to technology starters.

About CentechCentech A non-profit organization that everyone can participate in, it is a world-class business incubator specializing in high-tech (deep tech) companies with high growth potential. Centech performs particularly well in the areas of medical technology, manufacturing, communications, microelectronics, and other intelligent objects. Centech offers support programs for start-ups. Since 2018, Centech has its own open innovation hub called the Collision Lab, where large companies leverage the agility and entrepreneurial ecosystem of start-ups to help integrate technology projects. In 2019, Centech was recognized by UBI Global as one of the most successful university incubators in the world.

Source Northern Venture

For more information: Media Inquiries: Rose-Marie Mnard, Zone franche, [email protected], 514 315-5715, ext. 217

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