MONTRÉAL, Nov. 11, 2021 /CNW
Telbec/ - Quebecor is pleased to announce the expansion of its
entrepreneurial activities with the launch of asterX, a new
corporate venture capital arm that will continue to build lasting
relationships with emerging businesses. asterX will support
start-ups that have the potential to stimulate innovation in
Quebecor's core business segments as well as game-changing
businesses that are reshaping our everyday life. In the past
year alone, Quebecor has partnered with nearly ten innovative
start-ups in industries ranging from AdTech to MedTech with
investments totalling several millions of dollars.
asterX, powered by Quebecor's robust and diverse
ecosystem
Going-forward, Quebecor's investments in innovative start-ups,
from seed to growth stage, will be made through the asterX Capital
fund. Beyond a capital injection, the companies backed by
asterX Capital will also benefit from access to Quebecor's
leading-edge operational expertise, wide-ranging resources and
extensive network.
"2021 was a record year for venture capital investments in
Québec and Canada, yet there are
still very few local corporate players formally active in this
field," says Pierre Karl Péladeau, President and CEO of Quebecor.
"This category of investor is needed to nurture our growing
innovation ecosystem and bring it to the next level. With asterX,
we are pleased to position ourselves as strategic allies in the
development of local start-ups by also giving them an opportunity
to obtain domestic commercial validation upstream."
asterX will be led by Pelra Azondekon, who joined Quebecor in
2020 with a mandate to articulate a vision and strategy for the
Corporation's venture capital activities. She is a well-known
figure in the private equity ecosystem in Québec and Canada, with close to 15 years of experience
in corporate finance, mergers & acquisitions, and venture
capital. Among other things, she has previously led several
large-scale investments in high-growth tech start-ups at
Investissement Québec.
Boosting Quebecor's contribution to the start-up
ecosystem
Quebecor has been supporting the local start-up community for
more than 20 years through initiatives such as the Pierre Péladeau
Bursaries, which have been awarded annually since 1999 to the most
innovative projects from university students. For many years,
Quebecor has also been the major partner and presenter of key
events such as Startupfest and Expo Entrepreneurs. Consolidating
all of Quebecor's innovative entrepreneurship initiatives under
asterX will take its commitment to start-ups to a more strategic
level with the goal of increasing its impact.
"Today's announcement reaffirms our intention to become even
more active in forging mutually beneficial partnerships with
start-ups and strengthening Quebecor's position as an innovation
leader in its industry in Québec and Canada," Mr. Péladeau said. "We believe that
the success of our approach will depend in large part on finding
proper alignment of interests with our partners, which is favoured
when we become a stakeholder in the success of the visionary
entrepreneurs with whom we invest."
Click here to meet
asterX.
Visit
asterx.quebecor.com/en to learn more about
asterX and its portfolio companies.
About asterX
asterX is the corporate venture capital arm of Quebecor (TSX :
QBR.A,QBR.B). With a mission to promote a culture of boldness and
entrepreneurial spirit, asterX leverages Quebecor's long-standing
network and resources to build meaningful relationships and lasting
partnerships with entrepreneurs who share its values. asterX
furthers the development of innovative solutions that have the
potential to create value both within Quebecor's core business
segments as well as for our society as a whole. Through the asterX
Capital fund, it supports the most promising start-ups from seed to
growth stage, providing them access to capital and
leading-expertise.
About Quebecor
Quebecor, a Canadian leader in telecommunications,
entertainment, news media and culture, is one of the
best-performing integrated communications companies in the
industry. Driven by their determination to deliver the best
possible customer experience, all of Quebecor's subsidiaries and
brands are differentiated by their high-quality, multiplatform,
convergent products and services.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than
10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly
committed to the community. Every year, it actively supports more
than 400 organizations in the vital fields of culture, health,
education, the environment and entrepreneurship.
SOURCE Québecor Média inc.