Fonds de solidarité FTQ celebrates 39 investments
Posted on 09 December, 2015 by Mark Chatterley, reporter
The investment arm of the Québec labour body makes the highest number of investments of venture capital and private equity firms in Canada in the first nine months of 2015.
Fonds de solidarité FTQ has been named as the Canadian financial institution that made the most investments in the first nine months of 2015 by the Canadian Venture Capital and Private Equity Association.
Fonds de solidarité made 39 deals in this time that totalled C$1.3bn ($983m) including the investments from all participating firms. Fonds de solidarité is a development capital organisation that was created by the Québec labour body Fédération des travailleurs et travailleuses du Québec and brought into being by legislation passed by the National Assembly of Canada in 1983.
While Fonds de solidarité made the highest number of investments, the Canada Pension Plan Investment Board, which manages the investment assets of the Canada Pension Plan, took part in 12 deals that totalled C$35.9bn when the investments from all participants were accounted for.
Over the period of 2014-15 Fonds de solidarité invested C$640m. The organisation aims to invest C$1.6bn in the three years from 2014-17 as part of its development capital plan.
Gaétan Morin, president and chief executive of Fonds de solidarité, said: “These data once again show just how vital the Fonds de solidarité FTQ is to the Québec and Canadian economies.”
See more from this Government Report: Canada
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