Pierre Fitzgibbon will be an operating partner at the Paris-headquartered private equity firm. He held the provincial economy and innovation portfolios from October 2018 to September 2024, with a brief break from June to September 2021 over ethics issues, and added the energy file in October 2022. (The Logic)

Talking point: Jolt backs late-stage deep technology firms whose technology is hard and expensive to build—and, therefore, to copy. It targets sectors including photonics, advanced materials, electrification and semiconductors. The firm opened a North American headquarters in Montreal in June 2024. Canada has “vibrant, state-sponsored technology” and a lot of IP, but “very little growth capital,” Jolt president Jean Schmitt told The Logic at the time. The firm has since raised an almost-$1 billion new fund, and sold access to its investment-scouting platform to Fonds de solidarité FTQ. During Fitzgibbon’s tenure as economy minister, the Quebec government backed several projects in the electric vehicle battery supply chain, as well as semiconductor packaging facilities and AI research.