In the mid-1990s, UDA revived its original project and invited the Québec Musicians’ Guild and Union des écrivaines et écrivains québécois to join forces behind it. This time, UDA was aiming for a venture capital fund. Events snowballed, and the first links of what was to become Fonds d'investissement de la culture et des communications (FICC) were forged by Premier Lucien Bouchard, Minister of Finance Bernard Landry, Minister of Culture and Communications Louise Beaudoin and Union des artistes President Serge Turgeon at an initial economic summit in the fall of 1996.
Subsequently, QLF Solidarity Fund (Fonds de solidarité FTQ), which, until then, was only marginally involved in the culture and communication sectors, showed its interest in investing in a dedicated cultural fund and became the first sponsoring partner, with a $10 million investment. Société de développement des entreprises culturelles (SODEC) soon followed with $5 million more.