(Translated from French-only press release)

Support for innovative businesses: the City supports the i4 Capital Fund

 Québec, june 19, 2023 – The City of Quebec’s executive committee announces that it will recommend at the next city council meeting the awarding of a $600,000 grant to Gestion Fonds i4 Capital Inc. for the creation of an investment fund for innovative businesses. This agreement is carried out as part of the Support for Organizations component of the Vision Entrepreneuriale Québec 2026, in partnership with the Government of Quebec.

The funds will support the launch of the i4 Capital Fund and finance part of its operations. The Fund will invest primarily in companies developing innovative solutions for export, particularly those working in high-tech, so-called disruptive technologies. The Fund aims to invest in the pre-seed and seed stages of approximately 20 companies. Most of the selected companies will be primarily located in Quebec, including at least six companies that have established their head offices in the Quebec City metropolitan area.

 The project is funded by the Vision entrepreneuriale Québec 2026 and aligns with the guidelines of the City of Québec’s Sustainable Development Strategy, through its participation in the development of a sustainable and innovative economy by financing young companies operating in the clean technology sector. In addition, environmental, social, and governance (ESG) aspects are integrated into the Fund’s investment strategy.

“We are very pleased to continue our essential mission of supporting businesses in our region in innovative sectors that will continue to make us shine on the national and international scene,” said Quebec City Mayor Bruno Marchand. “Every dollar invested by the i4 fund will be invested in a modern and smart economy. With this program, we will have the opportunity to include environmental, social, and sound governance aspects, all with the goal of investing in a sustainable economy.”

“We have talented and creative entrepreneurs whose ideas translate into cutting-edge technological solutions,” said Jonatan Julien, Minister of Infrastructure and Minister responsible for the Capitale-Nationale region. “I am proud to see the work and efforts of these visionaries rewarded by the arrival of a fund that will invest in their innovative businesses. The presence of the i4 Capital Fund will generate beneficial economic spinoffs for the region, both in job creation and in the dynamism of the territory.”

“We are grateful to the City of Quebec for their support and trust,” said Jean-François Grenon, founding partner of the i4 Capital Fund. “Having been actively involved in Quebec’s entrepreneurial ecosystem for over 15 years as an angel investor, the need and opportunity to create a seed fund with a diverse team of experienced and passionate individuals is a great privilege. We will have an impact and make a difference.”

 About the i4 Capital Fund

The i4 Capital Fund, headquartered in Quebec City, is a venture capital fund with over $40 million dedicated to innovative start-ups in the pre-seed and seed stages developing disruptive technologies. Disruptive technologies are complex, patentable, and research and development-based technologies whose innovation has the potential to transform established practices in industries and economic sectors. The Fund will invest in particular in Industry 4.0 and the innovative manufacturing sector, in the fields of information technology and innovative technologies, and in agritechnology.

The Fund’s presence in Quebec City will facilitate not only the support of funded companies, but also the implementation of venture capital training activities to promote companies’ adequate preparation for a first round of financing.

 Project Partners

In addition to the City of Quebec, the project receives support from the following partners:

• Investissement Québec;
• Fonds de solidarité des travailleurs du Québec (F.T.Q.);
• Fonds québécois d’amorçage Teralys S.E.C.;
• Fondaction;
• Private investors and partners of the i4 Capital Fund.

 About Vision entrepreneuriale Québec 2026

Focused on entrepreneurship, innovation, growth, financing, and support, Vision entrepreneuriale Québec 2026 aims to make Québec City the entrepreneurial capital of the country. It brings together financial assistance programs and measures to help businesses grow. The Vision receives more than $134.6 million in funding from the Fonds de la région de la Capitale-Nationale (FRCN) provided by the Secrétariat à la Capitale-Nationale.

The FRCN was created in 2018 under the Act granting national capital status to Québec City and increasing its autonomy and powers; its benefits for the region are considerable.

 Source : Amélie Cauchon

 Service des communications

 418 641-6210

 amelie.cauchon@ville.quebec.qc.ca

 Interviews : Thomas Gaudreault
Press Officer
City Hall Office

 418 456-2282
 thomas.gaudreault@ville.quebec.qc.ca