MONTREAL--(BUSINESS WIRE)--AmorChem is pleased to announce the addition of Fondaction to the limited partners of the AmorChem II Fund L.P. The fund initially closed on September 19, 2017, having raised capital from the government of Quebec, the Solidarity Fund FTQ, Merck and other qualified investors.
“Having followed the AmorChem team closely for a number of years, we recognise their expertise and the significant impact their fund has in the lifesciences sector” says Geneviève Morin, Head of Investments. “We are proud to be supporting an emerging team whose activities play an essential role in the financing chain”.
Since its creation, the Fondaction has been distinguishing itself by focusing on thoughtful investments that seek to support, promote and encourage sustainable development. The organisation has developed a distinct expertise in impact investing by focusing on the social, territorial, environmental and economic benefits of its financing activities.
“Adding a new limited partner to AmorChem not only brings additional capital with which to deploy our investment strategy, it also brings further validation from a noteworthy stakeholder in the province’s economy” says Elizabeth Douville, Founder and Managing Partner of AmorChem.
“AmorChem is a builder of small biotech companies that plays a particular role in the province’s lifesciences landscape. It is gratifying to see our investor base broadened in this way” says Inès Holzbaur, Founder and Managing Partner of AmorChem.
About Fondaction CSN
Fondaction (www.fondaction.com)
invests in Québec-based SMEs in order to help create and maintain jobs
in Québec from a sustainable development perspective. It manages assets
of close to $1.8 billion in retirement savings from more than 138,000
shareholders. Through its investments or its commitments, made either
directly or through its partner or specialized funds, Fondaction
supports the development of over 1200 SMEs that make a distinctive
contribution to Québec’s social and economic development, including a
number of social economy enterprises.
ABOUT AMORCHEM L.P.
AmorChem (www.amorchem.com)
is an early-stage, venture capital fund located in Montreal focused on
creating promising life science companies from technologies originating
primarily from Quebec-based universities and research centres. Launched
in 2011, the AmorChem fund model combines access to financial resources
with a virtual incubator structure that enables the rapid development
and commercialization of its technologies. The first fund (41.2M$) has
built a portfolio of 24 technologies and successfully transacted two
pharma exits as well as spun-out five companies. The attractiveness of
this seed fund model and the role it plays in the investment ecosystem
were highlighted in September 2017 with the launch of the AmorChem II
Fund, which now totals $45.7M.