The province, along with about 60 private Quebec investors, will contribute at least $50 million to a new fund that will provide capital to businesses looking to change their corporate strategies in a post-pandemic environment. (Le Journal de Montréal)

Talking point: The fund, the Fonds de continuité DNA I, will be managed by the Montreal-based investment bank DNA Capital, founded by Daniel Labrecque. At a press conference Thursday, Quebec Economic Minister Pierre Fitzgibbon said the province’s designated investment arm, Investissement Québec, didn’t have the expertise to pursue the mandate of helping businesses reorient their models. DNA Capital will take a two per cent cut of the fund’s total assets each year in fees, Labrecque said at the same press conference. In the coming years, Quebec could invest up to $25 million more in the fund, which is launching with roughly $100 million under management, and whose other investors weren’t disclosed.