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Quebecor unveils asterX, its corporate venture capital arm
Quebecor unveils asterX, its corporate venture capital arm Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n Quebecor unveils asterX, its corporate venture capital arm\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n MONTRÉAL,\n \n Nov. 11, 2021\n \n /CNW Telbec/ - Quebecor is pleased to announce the expansion of its entrepreneurial activities with the launch of\n \n asterX\n \n , 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.\n \n \n \n asterX, powered by Quebecor's robust and diverse ecosystem\n \n \n \n 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.\n \n \n \"2021 was a record year for venture capital investments in Québec and\n \n Canada\n \n , 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.\"\n \n \n 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\n \n Canada\n \n , ...