Introduction

Maxime Courchesne is a VC Investment Manager at Investissement Québec (IQ).

Investissement Québec is the go-to partner for foreign and Québec-based businesses seeking to make a go of it in the province. Working out of 17 offices across Québec and 12 more around the world, their experts have a thorough understanding of your business environment and the unique challenges that Quebec founders face.

Summary

Max Courchesne, a VC investor at Investissement Quebec (IQ), shares insights on the Montreal and Quebec tech ecosystem. He discusses his career journey and the value of diverse experiences in venture capital. Max explains the role of IQ and its unique position as an evergreen institution. He highlights the focus on investing in Quebec ventures with international growth potential. Max also discusses the challenges and advantages for Montreal and Quebec-based startups, the dense investment ecosystem, and the future of the tech scene in the region. He shares his thoughts on deal flow, keeping an edge as an investor, and dealing with hard times.

Takeaways

Investissement Quebec (IQ) is an evergreen institution that provides patient capital and supports businesses in Quebec.

IQ’s VC investment thesis focuses on investing in Quebec ventures with international growth potential.

Montreal and Quebec have a dense and thriving tech ecosystem, with a strong focus on AI and a range of industries.

The diverse and dense VC ecosystem in Quebec with investors like IQ, CDPQ, Amplitude, Brightspark, Luge, Whitestar, Lumira, Inovia, Diagram and more. LPs like Fonds de solidarité FTQ, Teralys and Fondaction. Family offices like Lune Rouge.

IQ provides value-add support to its portfolio companies, including but not limited to financial support, internationalization, technology innovation, supply chain optimization, governance structure, and access to networks and talent.

Chapters

00:00 Max's Career Journey

03:12 The Value of Diverse Experiences in VC

06:09 About Investissement Quebec (IQ)

09:43 Investing in Quebec Ventures with International Growth Potential

10:23 Investment Stages and Evaluating Growth Potential

13:40 The Nature of Evergreen Funds

16:27 The Dense Quebec Investment Ecosystem

18:57 Challenges and Advantages for Montreal and Quebec-based Startups

22:39 The Future of the Montreal and Quebec Tech Scene

23:08 Value Add and Support from IQ

27:01 Exciting Trends in Montreal Tech

31:36 Dealing with Deal Flow in a Specific Region

35:24 Keeping an Edge as an Investor

40:11 Favorite Book Recommendations

43:16 What Max is Excited About in 2024

45:57 Dealing with Hard Times

51:34 Closing Remarks