April 17, 2022
The DNA Continuity Fund I, SEC (DNA Fund) completed its first closing with an initial capitalization of $100 million. The government contribution, which includes $50 million of committed capital at the fund’s first closing, is funded on a dollar-for-dollar basis by private sector investors.
The objective of the fund is to support the recovery of promising Quebec companies that need financial support and a realignment of their business plan. The objective: to enable them to improve and continue their activities. The Quebec government and nearly sixty private Quebec investors are partners in this fund.
In addition, the DNA Fund’s management team will benefit from the support of investor-advisors who will contribute their extensive operational experience. Link to the Quebec government’s announcement: Création du Fonds de continuité DNA – Appui de 50 M$ pour la transformation du modèle d’affaires des entreprises québécoises: Gouvernement du Québec (quebec.ca)