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The Quebec Culture Capital Fund was created on November 7, 2011 by the Government of Québec and the Fonds de solidarité FTQ to provide innovative financing to Québec cultural organisations interested in exporting their projects and products.

The Quebec Culture Capital Fund has a $100 million budget to support the marketing and export of major Québec cultural products.

It proposes new and innovative financial instruments in the financing of Québec cultural organisations, which take the form of equity voting shares, preferred shares, and loans.


Governance

The management principles of the Quebec Culture Capital Fund have been structured in the spirit and in respect of the principles of good governance as practised by its two funding partners, the SODEC on behalf of the Government of Québec and the Fonds de solidarité FTQ.

The Quebec Culture Capital Fund has been established as a limited partnership. Gestion Fonds Capital Culture Québec Inc. acts as general partner.

Board of Directors

The Board of Directors of the general partner is composed of nine individuals with valuable, diversified, and complementary expertise. Four directors are appointed by each of the Québec Government, and the Fonds de solidarité FTQ. The Chairman is appointed by the Government of Québec, after consultation with the Fonds de solidarité FTQ.

The duties and responsibilities of the Board of Directors include the governance of the Quebec Culture Capital Fund, as well as the implementation of its investment policy and business strategy.

The Board of Directors has created two committees to assist it with its duties and responsibilities.

Investment Committee

The Investment Committee, composed of three directors, receives, evaluates, and deals with the investment proposals forwarded by Management. Its decisions are binding.

Advisory Committee

The Advisory Committee includes four independent individuals who are not members of the Board of Directors. Recruited for their sound knowledge of the cultural industries and for their expertise, the members of the Advisory Committee are asked to provide their expert opinions on the transactions submitted for approval to the Investment Committee.

Management

The team assumes the day-to-day management of the Quebec Culture Capital Fund and ensures the application of the investment policy. In order to do so, it looks for the best business opportunities and cultivates active and productive relationships with partners, in their mutual best interests. Management, along with portfolio managers, introduces and recommends projects for approval to the Investment Committee.