Quebec City, Tuesday, March 28, 2017 – Cycle Capital Management, the most seasoned and active cleantech venture capital firm in Canada welcomes the support of the Gouvernement du Québec to foster a dynamic venture capital industry in Quebec, as part of the 2017 provincial budget.
Notably, Cycle Capital welcomes the Gouvernement du Québec’s support to the venture capital companies planning to qualify for the Venture Capital Catalyst Initiative – a $400M fund created through Business Development Bank of Canada (BDC) to increase late-stage venture capital available to companies for their expansion, notably in the cleantech sector. This fund could act as a catalyst to establish a low-carbon economy in Quebec. Cycle Capital’s portfolio companies could directly benefit from this fund.
“Venture capital is a key element in the cleantech innovation development. The creation of a new fund will fill some of the gaps of the cleantech financing chain, help develop a performing VC industry in this sector in Quebec and build flagship companies,” says Andrée-Lise Méthot, founder and Managing Partner of Cycle Capital Management. “With its support to the launch of this fund, the government reiterates its commitment to the establishment of a prosperous green economy in Quebec by accelerating the development of globally competitive cleantech companies,” added Ms Méthot.
The government also announces significant investments in public transit projects, the broadening of the ethanol production refundable tax credit, a $4.4M investment to create an industrial electric and smart vehicle cluster and a $60M investment to develop, transfer and commercialize innovations. These measures aim to build a greener economy in Quebec.
About Cycle Capital Management
Cycle Capital Management is the most active cleantech VC in Canada. Cycle Capital invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product’s life cycle.
With assets under management of $231M, Cycle Capital invests in Quebec and across North America. Cycle Capital Management, which is based in Montreal with an office in Toronto and points of presence in New York, Seattle and Qingdao in China, regroups seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. Cycle Capital Management has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Group M3, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec. For more information on Cycle Capital Management visit: www.cyclecapital.com .
Catherine Bérubé
Head of communications and public relations
[email protected]
+1 514 629-1022