Fonds de solidarité FTQ appreciates labour fund support demonstrated outside Québec

MONTREAL, March 27, 2013 /CNW Telbec/ - In a press release issued in response to the Federal Budget proposal, Canada's Venture Capital & Private Equity Association (CVCA) unequivocally endorsed Canada's labour funds.

"We are very pleased to see this solid support coming from outside Québec," said Yvon Bolduc, President and CEO of the Fonds de solidarité FTQ. "The CVCA recognizes the contribution labour funds make to economic development, particularly outside large urban centres."

The CVCA is disappointed that the federal government did not consult with the association on this matter and believes that the disappearance of labour funds would sharply reduce the availability of venture capital in Canada.

The Fonds de solidarité FTQ will be participating in the consultations announced in the federal Budget and invites the general public to make their voices heard once the details of the consultation are released. Until then, the public can express its opinion at http://fondsftq.com/mycredit.

The CVCA press release is available on the association's site at http://www.cvca.ca.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $8.5 billion as of May 31, 2012, the Fonds is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. Its investments, in all sectors of the economy, contribute to the creation and maintenance of businesses and development in Quebec. The Fonds is a partner, either directly or through its network members, in 2,239 companies. With its 594,287 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 168,577 jobs. For more information, visit www.FondsFTQ.com.

SOURCE: Fonds de solidarité FTQ

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