Investissement Quebec Invests $10 Million in the XPNDCROISSANCE Fund
Growth Capital for Quebec Businesses
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 10/26/15 -- Investissement Quebec will take a $10 million participation in the XPNDCROISSANCE Fund, a fund dedicated to investing in growing Quebec-based businesses demonstrating a strong potential. This investment brings the Fund's capitalization to $37 million. It is expected that the Fund's capitalization will reach $70 million by the end of this year.
"We are very pleased by the support of Investissement Quebec, an important strategic partner in the creation of our second fund. Their participation will help us continue supporting exceptional Quebec-based businesses looking to accelerate their development. Furthermore, their involvement is an indication of the potential of our Fund, which already has the support of many private partners who believe in the effectiveness of our investment approach," said Alexandre Taillefer, Managing Partner at XPND Capital.
The XPNDCROISSANCE Fund is dedicated to investing in growing Quebec-based businesses operating in high potential industries such as sustainable transportation, innovative industries, technologies, media and entertainment.
"This participation is a good example of our vision of a partner state: investing to generate returns for all Quebecers. The XPNDCROISSANCE management team, which is headquartered in Montreal, will provide strategic support to its portfolio companies. This will have a positive impact on the economic development of Quebec," added Mr. Jacques Daoust, Minister of the Economy, Innovation and Exports.
"With this investment, Investissement Quebec demonstrates that it is playing a strategic role in stimulating the supply of growth capital available for Quebec businesses. We are also the first institutional investors to support the XPND funds, which have already made successful investments in local businesses," concluded Pierre Gabriel Cote, President and Chief Executive Officer of Investissement Quebec.
About Investissement Quebec
Investissement Quebec's mission is to foster the growth of investment in Quebec, thereby contributing to the economic development and creation of jobs in all regions of the province. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, in order to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
About XPND Capital and the XPNDCROISSANCE Fund:
XPND Capital is a private equity firm focused on growth investments in exceptional Quebec-based companies. Its mission is to help build the next generation of large successful companies in Quebec, by bringing strategic capital and expertise and collaborating with entrepreneurs in their growth phase.
In 2012, XPND Capital launched its pioneer fund XPND1 that quickly demonstrated the effectiveness of XPND Capital's investment model. Based on this success and existing investment opportunities, XPND Capital launched its second fund, XPNDCROISSANCE, bringing together the expertise, network and capital of some of Canada's most renowned technology and consumer products entrepreneurs. For more information, please visit
Contacts:
Source:
Chantal Corbeil
Media Spokesperson
Investissement Quebec
(514) 873-7161
For more information:
Danielle Ste-Marie
STE-MARIE Strategy & Communications
(514) 465-6701
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Datum: 26.10.2015 - 15:48 Uhr
Sprache: Deutsch
News-ID 429396
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Commercial & Investment Banking
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