Wednesday, 17 February 2021
New venture capital fund to support the creation and growth of next-generation technology flagships
Created in partnership with Centech, this fund will support the development of companies in the pre-seed and seed stages in science and engineering.
With an initial investment capital of $26 million, Boreal Ventures will support companies that emerge from Centech and Quebec’s innovative ecosystem.
“The creation of Boreal Ventures will support Centech’s ambition to become one of the world’s 10 most successful incubators,” said Richard Chénier, Centech’s CEO. In addition, it will boost the growth fund pipeline by bringing companies to the level of maturity sought by these investors, which is often lacking at this stage of development. It will also support scientific development in Quebec and thus increase the pool of companies in which Boreal Ventures wishes to invest in the future.“
“Boreal Ventures is addressing a real need among companies in deep tech, explains David Charbonneau, Managing Partner at Boreal Ventures. Cutting-edge innovation is marked by a development cycle that is sometimes longer and requires more capital than its purely software counterparts. Consequently, there are few Canadian funds available for this type of company. However, the potential for companies specialized in deep tech is vast and what they create meets the needs of today’s and tomorrow’s society. In addition to supporting companies with strong growth potential, Boreal Ventures wants to play a unifying role in Quebec and thus help attract foreign capital to support local innovation.“
Read the press release of Boreal Ventures.