TLDR:
- Réseau Capital and its Investment Capital Expertise Centre released a study on the economic impact of the Quebec venture capital and private equity industry
- From 2013-2023, over 3,000 Quebec companies were supported by venture capital or private equity, with total investments nearing $90 billion
Réseau Capital and its Investment Capital Expertise Centre have conducted a study on the economic impact of the Quebec venture capital and private equity industry. The study, commissioned by Réseau Capital and conducted by EY, aimed to measure the impact of venture capital and private equity financing on the Quebec economy and on the performance of supported companies.
Between 2013 and 2023, more than 3,000 Quebec companies benefited from venture capital or private equity support through a total of over 5,400 transactions, amounting to close to $90 billion in investments. In 2022 alone, the operating and capital expenditures of these supported companies contributed over $45 billion to Quebec’s GDP, generating more than $27 billion in wages and salaries and supporting around 520,000 jobs.
The study also revealed that investment capital financing has a significant positive impact on the performance of supported companies, with increases in revenue, profit, and research and development spending observed. Additionally, the study highlighted the positive societal impact of this financing, such as increased investments in the clean technology sector, efforts to support diversity, equity, and inclusion, and support for building a vibrant innovation ecosystem.
Olivier Quenneville, President and CEO of Réseau Capital, emphasized the crucial role of investment capital in addressing contemporary challenges like environmental transition, technological innovation, and economic modernization. The study provides concrete data to illustrate the essential role played by investment capital in the economic development and growth of Quebec.
Réseau Capital expressed gratitude to the Ministry of Economy, Innovation, and Energy (MEIE) for its support in establishing the Investment Capital Expertise Centre and to partner Espace CDPQ. For more details, the full study can be accessed here.
Réseau Capital, founded in 1989, is an association that represents all stakeholders in the investment capital industry in Quebec. Their mission is to contribute to the development and dynamism of the investment capital sector, which is vital for the financing and growth of businesses in Quebec.
