AQC Capital (formerly Anges Quebec Capital) is about to invest money into a lot of Quebec startup tech companies. That’s because the formal group of angel investors have raised a new fund worth $64 million.
The organization said the new fund is led by Investissement Québec, Teralys Capital in collaboration with the Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, Fondaction and Finalta.
AQC Capital has historically invested its money into companies within clean technology, medical, financial, industrial, artificial intelligence and software sectors.
“Today’s announcement sends a strong signal to creative and ambitious entrepreneurs who have solid business projects and a thirst to conquer the world: AQC Capital is there to give them the impetus they need to develop, prosper and become the drivers of Quebec’s economy,” said AQC Capital’s associate manager, Serge Beauchemin.
“AQC Capital has been at the heart of many great stories, and this is just the beginning! By opening up more to our own ecosystem and to the network of potential co-investors across Canada, AQC Capital will be able to mobilize more players capable of propelling our most promising companies forward.”
New fund could add another $20 million soon
The new fund could be $20 million richer within a few months, Beauchemin told La Presse.
As La Presse mentioned, the term “angel investor” is most often simply a successful entrepreneur with several millions ready to invest in promising startups. The angels typically write cheques between $250,000 and $750,000, and AQC matches it.
And better yet, minimum of four angels and an average of 11 of them will typically become mentors of a given portfolio company.
New name, new look
Along with announcing the new fund, AQC Capital also unveiled its new name after using the Anges Quebec moniker since its inception. AQC Capital said the name change “embodies a new vision focused more on coaching entrepreneurs.”
AQC Capital’s team of managers, they say, “allows entrepreneurs to bring their companies into a wider network of potential investors to help them develop markets with a global dimension.”
AQC Capital previously invested the cash from its last fund, worth $86 million, into more than fifty entrepreneurs. Some of those companies include BonLook, MIM’s, Moka and Sportlogiq. It currently has 53 portfolio companies and more than $150 million under management.
Image credit: Strom Nordic Spa