Throughout your time with ACET, we will support you in putting in place a funding strategy.

Based on how your company evolves, our venture capital fund, ACET Capital, will also give you access to private funds to support your growth and maximize your chances of success.


Knowing that seeking capital is one of the biggest challenges facing you and that there are very few venture capital funds for tech startups at the precommercialization and commercialization stages, ACET has set up two ACET Capital funds dedicated to its incubated companies.

A first fund of $4M was launched in 2013, followed by a second fund of $7.6M in 2018.


The mission of the ACET Capital funds is to facilitate the startup and growth of your innovative tech company by financially supporting its different stages of development. Every year, ACET Capital plans to invest in 5 new companies on average.

To create leverage for your company, ACET Capital also calls on its large network of investors, with whom it co-invests, to raise larger rounds of funding ($0.5M to $3M).

Investment sectors

The ACET Capital funds target innovative tech companies in all sectors: innovative manufacturing, digital technologies, health technology, green technologies, etc.

Digital technologies

Digital technologies grow out of the use of information technology and include SaaS models, artificial intelligence and products using virtual or augmented reality. Projects that present simple applications or websites are not eligible, however.

Health technologies

Health technologies are tools or innovations that encompass medical devices, software, artificial intelligence and other technological advances used in the medical field and in health management.
Exception: Biomedical technologies whose aim is to develop a new medication from molecules.

Green technologies

Green technologies are innovations that support sustainable development while minimizing environmental impact. They include solutions such as renewable energy, waste management, energy efficiency and conservation of biodiversity.

Innovative manufacturing

The technologies at the heart of innovative manufacturing or Industry 4.0 ensure the digital transformation of the manufacturing industry by using, among other approaches, the Internet of Things, robotics, artificial intelligence and data analysis to optimize production processes and increase efficiency.

Forms of investment

Investments are made as shares or a convertible note (SAFE, KISS, debenture). The choice between shares or a convertible note will be based on negotiations between you and ACET Capital.

Here are the various investments that ACET Capital can make based on the stage of your company:

  • For a company at the precommercialization stage, the amount of the initial investment will range between $50 000 and $100 000, with the possibility of reinvestment.
  • For a company at the commercialization stage, the amount of the initial investment will range between $100 000 and $300 000, with the possibility of reinvestment.
  • For a company in the growth stage, ACET Capital does not make an initial investment but reserves the right to make a reinvestment if the company was funded in one of the first two phases, for a maximum of $500 000 of investment per company, for all phases.

As ACET’s role is rarely that of lead investor, we share the conditions of the lead investor if these are acceptable.

Our methodology

ACET Capital’s methodology is divided into 6 funding stages. For each one, we are committed to offering you support based on your needs.

ACET, which has extensive knowledge of the financial world, is here to guide and support you in your funding efforts.

If your financial needs require venture capital, ACET Capital will step in and help you with this process.

After determining that your company is ready for a round of financing, you must produce, with the support of ACET Capital, your business plan and your financial forecasts. These two documents will allow you to present your project (action plan, generally over 24 months) to various financing sources, including venture capital.

Now that your financial needs are known, it will be possible to establish your financing, that is, to determine the sources of financing that you can approach (capital, loans and subsidies, etc.). Next, you will approach the most attractive and relevant backers for your company.

If your project includes capital, you need to identify a syndicate that generally brings together 3 or 4 venture capitalists. One of these investors will take on the role of lead investor.

The letter of intent itemizes the preconditions of a potential investment in the company. The lead investor will submit this letter to you.

If you accept the conditions of the letter of intent (after negotiating), the lead investor will begin the due diligence process, which is a more detailed analysis of your company. This analysis will verify the statements in your business plan and your financial projections.

If the due diligence confirms an investor’s interest, a final funding offer will be presented to you and an investment agreement will be prepared (legal document). Then all the parties will sign the legal documents and funding will be disbursed.

What our entrepreneurs say


ACET Capital funds are sponsored by a number of private investors. These investors are mainly successful entrepreneurs who have extensive business experience. Most of them have advanced sectoral expertise and are a high value added for companies that receive funding. ACET Capital’s two major sponsors are Investissement Québec and National Bank.

Did you know?

Our team answers your most frequently asked questions about funding and our ACET Capital fund.

Frequently asked questions

Our team shares with you advice and relevant information on financing and on our ACET Capital funds.

The following investment criteria refer to key factors that will influence our investment decisions:

  • Your company must be incorporated and have its head office in Quebec.
  • The major part of your company’s operations must take place in Quebec.
  • You must demonstrate strong entrepreneurial ability: skills, experience, ability to surround yourself with the right people , openness to coaching, etc.
  • At least one of your cofounders must be involved full-time in the company.
  • You must demonstrate that the target market is large and contains plenty of growth potential.
  • Your business model must demonstrate growth potential that is sufficient to achieve profitability in an acceptable time frame.
  • The funds must serve to accelerate the achievement of steps that add value to your company, that is, the completion of your product’s technological development and its commercialization.
  • Risk sharing with other investors is encouraged. You must also contribute financially to the project as much as you can.
  • Fiscal projections must be based on credible assumptions.
  • The uniqueness of your product/service makes you stand out from the competition and creates a barrier to entry. This uniqueness should, if appropriate, have intellectual property protection.
  • Your company must propose an exit strategy and define the steps to achieve it.
  • The investment cannot be used to repurchase the stake of existing partners.
  • The project must respect environmental protection measures and meet the requirements of all regulatory bodies.

When it comes to reinvestment, the achievement of agreed-upon benchmarks during the previous round will be very important. These benchmarks can be technological (technical production), commercial (storefronts, early adopters), financial (interest from new funders/contributors) or related to human resources (hiring an expert, forming an expert panel).

A reinvestment in your startup is possible for a maximum of $500 000 per company, for all stages.

For companies in the seed and startup phases, a holding period of 6 to 7 years is seen as realistic.
Following this holding period, a release should be possible and could take various forms:

  • Share buyback by existing shareholders.
  • The sale of the company to a major player in the industry that is interested in the company’s market potential and its intellectual property.
  • A merger of the company with another company.
  • And, rarely, an IPO (initial public offering).

A company at the precommercialization stage is a company that must have developed a working prototype and have a preliminary sense of its added value. Approaches to clients who are “early adopters” have been done to confirm assumptions about the product and the market. The business model is starting to take shape.

A company at the commercialization stage is a company that is preparing its sales strategy and refining its business model. The target market and how to reach it are better defined. Initial sales are expected within the next six months.

A company at the growth stage is a company that has reached an advanced stage of sales maturity (series A) and steady growth.

Together, let’s build the world of tomorrow.