(Montreal) With the financial participation of seven “well-known” business personalities, Quebec is setting up a $100 million investment fund to support businesses that need to transform their business model. learned from the Canadian Press.
The government will provide half of the funding through a loan to Investissement Québec, which will range between $50 million and $75 million, confirmed Minister of Economy Pierre Fitzgibbon in an interview. There are companies that need to realign their business plan considering the post-COVID novelty in terms of marketing, he says. Many companies need to reinvent themselves.”
A group of seven entrepreneurs will also finance the project, he added. He did not want to identify them until the fund was closed for the end of the year or early 2022. Investment banker Daniel Labrecque of DNA Capital in Montreal is the fund’s senior manager. He is not one of the seven personalities, the minister said.
Read more on La Presse.