First Nations Venture Capital of Quebec (FNCQ) was established in 2001 following
the sustained effort of partners to develop the first Aboriginal venture capital
corporation in Canada. Private Aboriginal partners, non-natives and government joined
forces to achieve a shared goal and create a venture capital fund totalling $6 million
earmarked entirely for the social and economic development of members of First Nations
in Quebec. Given the very particular economic status of Aboriginal nations, the
purpose of the IPNQ was to facilitate access to capital for Aboriginal communities
and business people in Quebec.
The Native Benefits Plan (NBP), the Native Commercial Credit Corporation (Also know as the SOCCA), the Corporatiion de Développement Économique Montagnaise (CDEM), the Fonds de Solidarité FTQ (FTQ) and the Desjardins Group (Desjardins) believed in the economic potential of First Nations of Quebec and invested the funds needed to establish this most innovative economic development tool.
In 2010, the IPNQ completed its second phase of capitalization, increasing its capital to $8 million. This additional capitalization will allow the IPNQ to pursue its investment activities in years to come.