AQC Capital

Their thesis, in full

AQC Capital is the institutional fund arm of the Anges Québec network, the largest angel investor network in Canada, with 200+ angels alongside AQC. It works with angel investors on 100% of its investments, to expedite early-stage rounds and add institutional ticket weight. Two funds, over $160M AUM total: a first fund launched in 2012 and recapitalized to $86M, and Fund II, which reached a $78M first close in May 2021. LPs include Investissement Québec, Teralys Capital, CDPQ, Fonds de solidarité FTQ, Fondaction, Finalta Capital and National Bank of Canada. 45+ portfolio companies, sector-agnostic with a pre-seed and seed bias, mainly Québec with selective Ontario deals.

Questions they usually ask

Have an answer ready for each one before the first call.

1. Have you already engaged any Anges Québec members, and where do they sit in this round?
2. What angel-friendly governance would you accept (board observer, info rights)?
3. How does your roadmap match Quebec ecosystem follow-on capital (BDC, FTQ, Investissement Québec)?

Follow-on

AQC reserves pro-rata capacity inside its $160M AUM to follow into Series A alongside Anges Quebec syndicates and institutional partners (Desjardins Capital, Investissement Quebec, BDC). The team expects regular reporting and a clear path to a Quebec or Canadian institutional lead for the next round.

Who to talk to

• Serge BeaucheminManaging PartnerLinkedIn ↗
• Stephane CaronGeneral PartnerLinkedIn ↗
• Kalthoum BouacidaGeneral PartnerLinkedIn ↗
• Robert LevesqueDirectorLinkedIn ↗
• Audrey GagnierePrincipalLinkedIn ↗
• Rafaello Giguere ReggianiAssociateLinkedIn ↗
• James GourdeSenior AnalystLinkedIn ↗
• Marianne BohenOperations DirectorLinkedIn ↗
• Louis Saint-JacquesVenture PartnerLinkedIn ↗