Fonds de solidarité commits €5M to €38M Theodorus IV

Fonds de solidarité FTQ has committed €5 million or CDN $7.2 million to Theodorus IV, a Belgian seed stage venture capital fund.

Brussels based Theodorus is the spin-off fund of Université Libre de Bruxelles (ULB). The first Theodorus fund was created in 2003 and Theodorus funds II & III were created in 2006 and 2013 with a priority access to ULB R&D outcomes and spin-offs.

Launched in October 2018, Theodorus IV is dedicated to spin-offs (whether or not from ULB). It focuses on financing seed and early-stage life sciences and high tech companies.

As part of Fonds de solidarité commitments, Theodorus will open an office in Montréal. Théo Risopoulos, a Theodorus investment associate, will be the first member of a team that will comprise two to three people in Montréal.

In the next five years, Theodorus IV will invest between €500,000 and €3,000,000 in some twenty companies in Belgium and Québec. Its portfolio includes Québec-based Moonshot Health.

photo credit: Theodorus

News Release

The Fonds de solidarité FTQ invests C$7.2 million in Theodorus IV, a seed stage venture capital fund Français

The €38 million Belgian fund opens an office in Montréal

MONTRÉAL, Feb. 18, 2020 /CNW Telbec/ – To promote the creation of Québec companies based on the results of academic research, Fonds de solidarité FTQ is investing C$7.2 million (€5 million) in Theodorus IV, a seed stage venture capital fund. The Belgian fund will also open an office in Montréal to continue building partnerships with local universities and research centres, research commercialization firms in Québec as well as research consortiums and incubators. Théo Risopoulos, a Theodorus partner, will be the first member of a team that will comprise two to three people in Montréal.

Theodorus invests in seed stage biotechnology and medical, digital and industrial technology companies. The first fund of the group was created in 2003 as a result of the willingness of the Université Libre de Bruxelles (ULB) to dedicate resources to the spin-offs of the research performed in its laboratories.

“Since its creation, Theodorus has developed a unique expertise in academic research commercialization and business creation. The Montréal-based Theodorus team has already become a partner of choice for Moonshot Health, the fund’s first investment in Québec,” explained Didier Leconte, Vice-President for Investments, Life Sciences and Fund Management, at Fonds de solidarité FTQ. Moonshot Health is a Québec company developing a device that can monitor the health of elderly people living alone.

Marie Bouillez, Managing Partner at Theodorus, said: “The Fonds de solidarité FTQ is a partner of choice for the expansion of our fund in North America. It has invested in many larger funds, is well established and makes direct investments. This major partner was joined by commercialization companies Gestion Univalor and Aligo Innovation, as well as research consortiums MEDTEQ and CQDM (Consortium québécois sur la découverte du médicament). Agreements have also been put in place with IRICoR, CRIAQ, Sovar and Agile MV in connection with the development of start-ups coming from their ecosystems.”

“The Government of Québec has set ambitious goals for itself in terms of market diversification, support for Québec business exports and prospecting for foreign investments, especially in the field of Life Sciences. Sustained efforts in this matter have borne fruit, as evidenced by the arrival of this Belgian fund in Québec. To this end, I would like to salute the Québec Government Office in Brussels, whose work has served as a lever to bring Theodorus to our territory,” commended Nadine Girault, Minister of International Relations and La Francophonie of Québec.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ is a capital development fund that channels the savings of Quebecers into investments. With $16.7 billion in net assets as at November 30, 2019, the Fonds has helped support more than 215,000 jobs. The Fonds has over 3,100 partner companies and more than 700,000 shareholders-savers.

About Theodorus IV

Theodorus IV is an investment fund mainly dedicated to spin-offs (whether or not from ULB). It focuses on financing seed and early stage life sciences and high tech companies.

Over fifteen years, more than €220 million have been raised for the portfolio companies of the Theodorus funds, creating value exceeding €930 million.

Companies such as Bone Therapeutics, Masthercell, Ogeda and, more recently, CluePoints are among Theodorus’ success stories.

Theodorus IV was launched in October 2018. In the next five years, it will invest between €500,000 and €3,000,000 in some twenty companies in Belgium and Québec. Belgian companies Kaspard, Apaxen and InhaTarget Therapeutics, as well as Québec-based Moonshot Health have already been included in the portfolio of the fourth fund.

SOURCE Theodorus

For further information: for media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Telephone: 514 850-4835, Email: pmcquilken@fondsftq.com; Vanessa Costanzo, for Theodorus IV, Mobile: +32 473 459 109, Email: vcostanzo@intothecomm.be