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Fonds Anges Québec Capital launch

Fonds Anges Québec Capital launch: good news for Québec entrepreneurs!

Quebec City, May 1, 2012 – Anges Québec salutes yesterday’s launch of Fonds Anges Québec Capital announced by Sam Hamad, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Capitale-Nationaleregion. This support fund will help Anges Québec members invest more capital in innovative Québec companies, and help them develop even more such promising business projects province wide.

As Mike Cegelski, Anges Québec Chairman of the Board, explained, ”We’re pleased to see that the government recognizes the need to encourage and facilitate private investment in Québec companies. Fonds Anges Québec Capital will benefit innovative companies in the start-up phase of their development, because that’s when they need seed capital the most. But that’s also when they have the most trouble getting financing, because without backing from investors, financial institutions hesitate to take on a project that has its share of risk. For each dollar invested by Anges Québec members, the fund could inject up to $2. This co-investment fund will boost the amount of capital our members invest, giving companies better financial leverage at this crucial phase of their development.”

For the new Chairman of the Board of Fonds Anges Québec Capital, Serge Gouin, ”Setting up the Fonds Anges Québec Capital is a real challenge and good news for Québec entrepreneurs, because it paves the way for a new kind of fund that is widespread in the US, but was nonexistent in Québec until now, and which is ideally suited to our innovative SMEs.”

Anges Québec is an important network of private investors that identifies, finances and coaches innovative Québec enterprises with high growth potential. Anges Québec members invest their capital and expertise in the most promising start-up companies. In this capacity, Anges Québec works closely with a number of Québec leaders in the development and growth of technological innovations.