Anges Québec Celebrates Years of Supporting Innovation
Quebec City, July 25th, 2013 – The only group of its type in Quebec, the Anges Québec private investors network celebrates its 5 years of existence and support for innovation. Inspired by the approximately 360 American Angel investor groups, Anges Québec was established in 2008, thanks to the work of its founding members: Martin Duchesne, Louis Saint-Jacques, Nathalie Beauregard and Richard Bruno, who was also first Chairman of the Board, and the involvement of the Government of Quebec. In the last few years, Anges Québec has generated $32.9 M in investments among some thirty innovative Quebec businesses, including $12.3 M invested directly by its members. Its new business plan will enable it to multiply the number of business files supported in the next year and coming years.
Strength in numbers
Established with 20 members, Anges Québec now has 130 private investors from across Quebec who are interested in financing Quebec businesses that develop and market products based on technological innovation. Richard Bruno, co-founder of Anges Québec, explains the motivation behind creating such a group in Quebec: “In looking at the US landscape I saw that connected Angel Investors played a key, if not more important, role than venture capitals in the creation of the vast number of new jobs and industries in the US. From where Quebec was in 2007, I sensed that we needed to more effectively link and network Quebec’s angels together to achieve the kind of industry growth and success that was taking place in locations like the US and Israel.”
Robert Brouillette, Chairman of the Board, confirms: “There were Angel investors in Quebec before Anges Québec was founded, but few of them knew each other. Anges Québec was able to combine these investors to have new business builders benefit from the synergies resulting from pooling their experience and international networks of contacts.”
The network’s success is driven by the quality and involvement of its members who, in addition to having the available capital to invest, all have a strong track record as managers and entrepreneurs. Not only is this select network of investors called upon for their financial involvement, but also to act as counselors to the financed businesses. Anges Québec also has certain associate members, including venture capital firms operating in Quebec.
A code of ethics regulates the operations of the group, which favours collegiality, even though investment decisions are made on an individual basis. Each month, members meeting in Quebec City, Montreal and Sherbrooke are presented new pre-selected files. Anges Québec’s new business plan will also enable members to bring investment files directly to the group. The businesses financed in the last year include Axes Network, Bonlook, Fortem, GSC Medical, Handyem, Novidev and Optosecurity.
The Minister for Industrial Policy and the Banque de développement économique du Québec, Élaine Zakaïb stated: “To ensure our economic growth, we have to focus more on private investment and the ability of our businesses to innovate. By supporting investors and by encouraging young local businesses to start up and grow, the Anges Québec network shows that it shares our vision of the future for a flourishing Quebec.”
About Richard Bruno
Richard Bruno is founder and CEO of Beyond If, a US company that provides management advisory services to several Fortune 1000 companies. He has developed and marketed several successful products during his career, including: the compact disk, music in MP3 format, the Odyssey and MSX video game systems, the Minitel, the videoconference and systems to capture and stock solar energy. After building and selling six high-technology companies worth several million dollars, he now mentors young entrepreneurs, participates in advancing government innovation policies and plays an active role on the boards of directors of public and private and venture capital companies.
About Robert Brouillette, Eng.
Chairman of the Board of Anges Québec and Angel investor with approximately 20 startup companies, Robert Brouillette is also a Canadian leader in the field of direct sales and a recognized expert in intellectual property and information technology law. A member of Barreau du Québec and the Ordre des Ingénieurs du Québec, he founded BCF in 1992, and Brouillette and Partners in 2005, a law and patent and agency trademark firm catering to innovators and entrepreneurs, primarily in the field of technology.
About Anges Québec
Anges Québec is a network of 130 private investors that identifies, finances and coaches innovative Quebec enterprises with high growth potential. Anges Québec members invest their capital and expertise in the most promising startup companies. In this capacity, Anges Québec works closely with a number of key Québec organizations interested in the development and growth of technological innovations.
For more information about the Anges Québec network, go to www.angesquebec.com
For more information, go to http://ca.linkedin.com/in/lvincent64
An English version is available online at www.angesquebec.com/en/nouvelles
To keep track of news and activities, join Anges Québec on LinkedIn.com