Date Closed

January 28, 2011

Lead Office

Québec City

Value

124.30 Million CAD

In its 2009-2010 budget, the Québec government announced the creation, in collaboration with Fonds de solidarité des travailleurs du Québec (F.T.Q.) and FIER Partenaires, Société en Commandite, of three specialized seed funds for the technology sector to be awarded by call for tenders. The three seed funds, having an aggregate capitalization of $124.3 million at their initial closing were formed at the end of 2010 and at the beginning of 2011.

On October 25, 2010, the formation of Réal Investment Fund, L.P., an IT specialized seed fund with an initial capitalization of $41.55 million, was completed. Funding of Réal Investment Fund, L.P. was provided by various partners, including Québec government through Investissement Québec ($16.5 million), Fonds de solidarité des travailleurs du Québec (F.T.Q.) ($10.9 million), FIER Partenaires, Société en Commandite ($5.6 million) and private investors ($8.25 million in the aggregate) including an investment of $1 million by Réal Investment GP, L.P., the general partner of Réal Investment Fund, L.P.
 
On December 10, 2010, the initial closing of Seed Fund Cycle-C3E, Limited Partnership, a clean technology seed fund with an initial capitalization of $41.5 million, was completed. Funding of Seed Fund Cycle-C3E, Limited Partnership was provided by various partners, including Québec government through Investissement Québec ($16.5 million), the Fonds de solidarité des travailleurs du Québec (F.T.Q.) ($10.9 million), FIER Partenaires, Société en Commandite ($5.6 million), Cycle Capital II, L.P., the general partner of Seed Fund Cycle-C3E, Limited Partnership ($500,000) and leading industrial partners from Québec and abroad namely Rio Tinto Alcan Inc., Lonza Finance Limited, Cascades Inc., Société en commandite Gaz Métro, Fonds de développement économique Laprade St-Maurice Inc., Centre d’excellence en efficacité énergétique and Systemex Énergies Inc. ($8 million).

On January 28, 2011, the formation of AmorChem, Limited Partnership, a life sciences specialized seed fund with an initial capitalization of $41.25 million, was completed. Funding of AmorChem, Limited Partnership was provided by various partners, including Québec government through Investissement Québec ($16.5 million), Fonds de solidarité des travailleurs du Québec (F.T.Q.) ($10.9 million), FIER Partenaires, Société en Commandite ($5.6 million) and private partners ($8.25 million in the aggregate) including a subsidiary of Merck & Co., Inc. ($6.8 million).

McCarthy Tétrault LLP represented Investissement Québec, Fonds de solidarité des travailleurs du Québec (F.T.Q.), and FIER Partenaires, Société en Commandite in the creation of the investment seed funds with a team that was led by Francois Amyot.