{"id":7040,"date":"2012-03-21T16:09:43","date_gmt":"2012-03-21T20:09:43","guid":{"rendered":"https:\/\/cyclecapital.creatures.ca\/2012\/03\/21\/a-third-fund-for-cycle-capital\/"},"modified":"2012-03-21T16:09:43","modified_gmt":"2012-03-21T20:09:43","slug":"a-third-fund-for-cycle-capital","status":"publish","type":"post","link":"https:\/\/cyclecapital.com\/en\/2012\/03\/21\/a-third-fund-for-cycle-capital\/","title":{"rendered":"A third fund for Cycle Capital"},"content":{"rendered":"<div>Ms. Andr\u00e9e-Lise M\u00e9thot,\u00a0Founder and Senior Partner of Cycle Capital Management (Cycle Capital) welcomes the Government of Quebec\u2019s contribution of $50 million for the Cycle Capital Fund III, a new venture capital fund in the clean technology (cleantech) sector, which targets companies at the commercialization stage. The announcement was made yesterday during the presentation of the Quebec budget by the Minister of Finance, Minister of Revenue and Minister responsible for the Montr\u00e9al region, Mr. Raymond Bachand.<\/div>\n<div><\/div>\n<div>\u201cThis investment is a real vote of confidence for Cycle Capital and the cleantech sector. It will enable companies to continue their growth and to become leaders in their respective markets. It\u2019s a very encouraging sign, as it sends a strong message to our entrepreneurs,\u201d said Ms. M\u00e9thot.<\/div>\n<div><\/div>\n<div>Thanks to the contributions of the Government of Quebec and several committed partners such as Teralys Capital, Fondaction: the CSN\u2019s investment fund for cooperation and employment, as well as Cascades and Gaz M\u00e9tro, Cycle Capital can already count on more than $85 million for the creation of its new fund. The fund will have a minimum capitalization of $100 million and the Qu\u00e9bec government\u2019s equity interest in the fund will be made through its mandatary, Investissement Qu\u00e9bec. In addition, according to a principle whereby a government contribution of $1 is matched by a contribution of $1 from industrial investors, The Qu\u00e9bec government may contribute another $25 million, possibly raising its total equity interest in the fund to $75 million.<\/div>\n<div><b><i>\u00a0<\/i><\/b><\/div>\n<div>Since 2009, Cycle Capital, with nearly $125 million under management, has invested in a dozen companies in the cleantech sector. Furthermore, Cycle Capital\u2019s investments have made it possible to attract local and international co-investors, generating a leverage effect six times the value of its investments.<\/div>\n<div><\/div>\n<div>According to Ms. M\u00e9thot, this new fund will contribute to finance innovative technologies for companies at the development stage looking to capture the global market. The opening of these new markets, as well as the significant leveraging of co-investments, will certainly result in significant economic benefits for Quebec. In addition, the Government of Quebec\u2019s economic initiatives for reducing greenhouse gas (GHG) emissions and the development of Northern Quebec offer companies opportunities to improve their competitiveness in addition to their environmental performance.<\/div>\n<div><\/div>\n<div><\/div>\n<div><i>Note: This press release does not constitute a solicitation to invest in the Cycle Capital Fund III or any other Funds managed by Cycle Capital.<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ms. Andr\u00e9e-Lise M\u00e9thot,\u00a0Founder and Senior Partner of Cycle Capital Management (Cycle Capital) welcomes the Government of Quebec\u2019s contribution of $50 million for the Cycle Capital Fund III, a new venture capital fund in the clean technology (cleantech) sector, which targets companies at the commercialization stage. The announcement was made yesterday during the presentation of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7040","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/comments?post=7040"}],"version-history":[{"count":0,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7040\/revisions"}],"wp:attachment":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/media?parent=7040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/categories?post=7040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/tags?post=7040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}