Mission

  • 1
    Provide financial partnership to businesses in creation, production, distribution and diffusion of products and services in the culture and communication sectors.
  • 2
    Make investments that strengthen the capital base of Quebec companies in the fields of culture and communications, contribute to their development, growth and profitability, and support the presence of a new generation of entrepreneurs.
  • 3
    Foster job creation in these companies.

History

1990

In the early '90s, as Québec performers achieved a certain level of financial autonomy, Union des artistes (UDA) brought forth the idea of providing the province’s arts and culture industry with means of accessible funding, development and growth tools in line with their realities.

At an UDA convention, the stage was set for the creation of a fund dedicated for cultural and communication businesses, and soon after, the Caisse d'économie de la culture was born.

1995

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.

1997

Fonds d'investissement de la culture et des communications started its operations in February 1997.

2001

In 2001, FICC’s sponsors provided additional funding in the amount of $15 million – $10 million from QLF Solidarity Fund (Fonds de solidarité FTQ) and $5 million from SODEC – bringing the corporation’s available capital to $30 million.

2011

A third round of investment took place in December 2011 welcoming a third partner, the UDA, in the amount of $ 400,000. Solidarity Fund QFL and SODEC participated in this round in the amount of $ 10M. FICC capitalization is currently $ 40.4 million.

What makes us stand out

FICC's approach features:

  • Strategic support for company management
  • Access to our network of experts in cultural industry
  • Communications tailored financing tools
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Structuring a financial contribution for the cultural and communication sectors

  • FICC uses an investment structure adapted to the needs of companies through several financing tools including subordinated debt, equity and quasi equity and secured loans. 
  • FICC helps to develop flexible financing packages, occasionally bringing in other recognized investors, which rely on FICC’s expertise in areas of culture and communications. 
  • As a financial partner, FICC may sit on boards of directors or management committees of partner companies. 
  • FICC provides its partners with access to its experience and business network.

A recognized expertise in the sectors of culture and communications

  • FICC invests capital, but also expertise, resources and experience drawn from the fields of culture and communications. The FICC knows the issues and realities of the sectors it serves as well as of its entrepreneurs. 
  • FICC has a strong business expertise and knowledge of the industry’s rules and market trends. 
  • FICC is in a position to assist entrepreneurs in these sectors to meet the many challenges of a growing business.
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