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AQC Capital
AQC Capital pools angel-network capital into a structured Quebec-focused venture fund, deploying over C$160M since 2012 across early-stage and growth...
AQC Capital
AQC Capital was founded in Montreal in 2012 as the investment arm of Anges Québec, Canada's largest angel investor network. Originally named Anges Québec Capital, the firm formalized what had been ad-hoc angel activity into a pooled vehicle, giving individual members diversified exposure to Quebec's startup ecosystem alongside their direct angel bets. The firm operates with a province-first mandate, drawing deal flow from the network's regional screening committees and investing in teams across all sectors active in the Quebec economy. The strategy blends venture capital with a co-investment model. AQC Capital deploys across early-stage rounds — pre-seed, seed, and start-up — and extends into growth-stage follow-ons. The firm invests alongside Anges Québec angels and external VCs, typically taking equity positions in rounds where the network already has a presence. Portfolio holdings span life sciences, cleantech, industrial technology, and enterprise software. Known names include Eventbrite-adjacent ticketing platform Thepointofsale.com, medtech developer Bodycad, and AI scheduling tool Askia, though the firm has not published a comprehensive public portfolio list. Team size and specific headcount are not publicly disclosed. AQC Capital operates from Montreal, with deal sourcing routed through the Anges Québec network's reach across Quebec regions including Quebec City, Sherbrooke, and Gatineau. The firm does not maintain separate offices. Recent operational history is limited in public filings — the firm has not announced a recent fund close — but continues to participate actively in Quebec startup rounds as a co-investor and occasional lead for seed-stage deals. Structurally, AQC Capital occupies a hybrid space between angel syndicate and institutional venture fund. It sources proprietary deal flow from a curated membership network that screens hundreds of companies annually, a pipeline depth that pure financial VCs cannot replicate without local embeddedness. The pooled-capital structure gives it staying power through cycles, while the angel-network affiliation provides early access to deals that would otherwise stay within informal investor circles.
General information
Firm type
Private Equity
Year founded
2012
AUM
$100M - $500M (Altss estimate)
Location
Region
North America
Country
Canada
City
Montreal
Corporate office
Montreal, QC, Canada
Frequently asked questions
How is AQC Capital related to Anges Québec?
AQC Capital is the institutional investment arm formed by Anges Québec, Canada's largest angel investor network. While Anges Québec members invest directly as individuals, AQC Capital pools their capital into a structured private equity vehicle. This gives members diversified exposure alongside their direct angel bets. The dual structure allows the network to write larger checks and participate in later-stage rounds.
Does AQC Capital invest only in Quebec-based companies?
Yes, AQC Capital operates with a province-first investment mandate. The firm invests in startups headquartered or with primary operations inside Quebec. This geographic concentration gives it deep local market knowledge and access to deal flow through the Anges Québec network's regional screening committees. The mandate covers all sectors active in the Quebec economy.
Does AQC Capital lead rounds or co-invest?
AQC Capital acts primarily as a co-investor alongside Anges Québec angels and external venture capital firms. It participates in rounds where deal flow originates from the network's sourcing engine. The firm occasionally leads seed-stage rounds, particularly where institutional capital has not yet entered. Its typical deployment strategy follows the network's presence rather than competing for lead positions.
What investment stages does AQC Capital target?
The firm invests across early-stage venture — pre-seed, seed, and start-up rounds — and extends to growth-stage follow-on investments. This spans the full life cycle from first institutional check to later equity rounds. The pooled fund structure supports follow-on reserves, allowing AQC Capital to maintain positions as portfolio companies scale.
Is AQC Capital's AUM publicly available?
AQC Capital does not publicly disclose assets under management. Altss estimates its AUM in the $100 million to $500 million range based on known deployment activity and fund size benchmarks for Canadian angel-affiliated vehicles. The firm has stated deployment exceeds C$160 million since inception.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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