News Summary

Investissement Québec has transformed its early-stage program into a $200-million venture capital fund called Fonds Impulsion, aimed at supporting tech startups in the province. This initiative, which follows the closure of the Impulsion PME program, intends to address declining seed-stage deal flow by investing in around 70 companies over a 10-year period. The fund, which is open to Québec-headquartered companies, will provide investments ranging from $250,000 to $2 million, with the possibility of multiple follow-on investments. The move comes amidst concerns about the province’s VC landscape, as seed-stage venture deals and investments saw significant declines in recent years.