Quebec government invests $50 million in clean tech VC

The Quebec government has invested $50 million in the privately run Cycle Capital Management (CCM) venture capital fund aimed at clean tech, with the potential for another $25 million if the fund can secure enough matching industry funding. The fund — Cycle Capital Fund III — targets companies at the commercialization stage that are looking to capture a global market. The Quebec government's contribution comes through Investissement Québec and private sector partners include Teralys Capital, Fondaction, Cascades and Gaz Métro. CCM was founded by Andrée-Lise Méthot, a veteran of corporate financing who established the first Quebec-based VC fund specializing in clean tech. She also launched a fund aimed at companies specializing in sustainable development….