Investissement Québec is a provincial government economic development agency established in 1998 to favour investment in Quebec by Quebec-based and international companies. It provides a range of financial solutions including loans, equity investments, and venture capital, and in 2025 launched the $200 million Fonds Impulsion VC fund for early-stage Quebec tech startups.
Deal activity increased 67% year-over-year (10 deals in the last 12 months). Average disclosed round size is $40.9M (across 89 rounds with reported amounts).
Portfolio
88
Fund Size
—
Top Stage
Seed
Last 12 Mo
10
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
116 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 SBQuantum | Seed | $4M | Apr 2026 |
| SSmartD | Series B | — | Apr 2026 |
| SSmartD | Series A | — | Apr 2026 |
 Congruence Therapeutics | Series B | $39.5M | Mar 2026 |
 Mecademic | Series B | — | Feb 2026 |
 Kainova Therapeutics | Series B | — | Feb 2026 |
| EEncephalX | Pre-Seed | $2.3M | Jan 2026 |
 Vention | Series B | $110M | Jan 2026 |
 Find Therapeutics | Series A | $10M | Jan 2026 |
| NNouveau Monde Graphite inc. | Growth | $213M | Jan 2026 |
| SSherweb | Unknown | $125M | Jan 2026 |
| MMorphocell | Series A | $50M | Dec 2025 |
 Deep sky | Seed | $11M | Sep 2025 |
| GGermain Hôtels | Unknown | $160M | May 2025 |
 Epitopea | Series A | $31M | Feb 2025 |
 Synucure Therapeutics | Seed | $2.8M | Jan 2025 |
 vopemed | Pre-Seed | $2.3M | Jan 2025 |
| MMorphocell | Series A | $50M | Jan 2025 |
 KisoJi | Unknown | $41M | Dec 2024 |
| Epitopea | Series A | $31M | Oct 2024 |
 Laserax | Series C | $45.5M | Oct 2024 |
 UgoWork | Series C | $51M | Jul 2024 |
 Workstaff | Seed | — | Jul 2024 |
 Propulso | Unknown | $2.6M | Jun 2024 |
 BioIntelligence | Growth | $5M | Apr 2024 |
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Top Co-Investors
Desjardins Capital22 shared
Fonds de solidarité FTQ13 shared
Real Ventures12 shared
Export Development Canada11 shared
BDC Capital10 shared
AQC Capital9 shared
Inovia Capital8 shared
Fondaction8 shared
La Caisse7 shared
Amplify Partners5 shared
Brightspark Ventures5 shared
adMare BioInnovations5 shared
Boreal Ventures5 shared
CDP Venture Capital4 shared
Whitecap Venture Partners3 shared
OMERS Ventures3 shared
SE Ventures3 shared
Obvious Ventures3 shared
Innospark Ventures3 shared
McRock Capital3 shared
Last updated: 20 October 2026