Stéphane Drouin is leaving his role as CEO of Anges Québec almost a year into his leadership of the provincial angel investor network.
Marc-Antoine Cantin, a board director and Anges Québec member, will assume the CEO position on Monday, August 3, after a two-month transition period.
Drouin stated that his departure was unplanned and for personal reasons, unrelated to issues with the organization, which he values highly. Cantin confirmed that Drouin left on good terms with the board to pursue other opportunities.
Cantin emphasized his priority in strengthening the angel network and equipping members with tools to enhance their investing expertise.
Drouin had previously left Investissement Québec in September 2024 to succeed Geneviève Tanguay as CEO. Tanguay has joined Panache Ventures as a partner.
Anges Québec, founded in 2007, comprises around 175 Québec-based angel investors, primarily former entrepreneurs. The non-profit collaborates with venture fund AQC Capital, often co-investing alongside Anges Québec members.
The leadership change follows recent staff movements at Anges Québec. Directors Pedro Herrera and Geneviève Wiedmann-Harland announced departures to take investing roles at Investissement Québec. Their roles will be filled by the end of the month, bringing Anges Québec’s operations team to eight members.
Cantin brings experience in entrepreneurship, mergers and acquisitions, and business development. He earned his chartered professional accountant certification in the late 1990s and scaled Stove Builder International. As an angel investor, he has supported nearly 30 companies, including Heylist and Puzzle Medical Devices.
Cantin plans to support the angel network with educational and networking events and formalizing Anges Québec’s resources into a curriculum.
Cantin will relocate from Québec City to Montréal for the role and intends to maintain efficient operations at the non-profit, funded by government subsidies and memberships.
Cantin’s vision includes broadening access to venture capital assets through initiatives like the newly announced Elevia fund. This co-investment fund allows investing in pre-seed and seed-stage Québec companies with due diligence conducted by other angels. The fund aims to raise up to $3 million from a maximum of 60 investors.
Elevia’s structure involves Anges Québec members and external investors acting as limited partners, with Equivesto serving as the general partner. A minimum of six Anges Québec members must invest at least $300,000 collectively for Equivesto to invest.
Cantin sees Elevia as an opportunity to diversify investor portfolios amidst economic uncertainty, which is making investors more cautious.
Québec has experienced a decline in early-stage investments this year, a trend also seen nationally. Conversely, angel investing nationwide has risen, with a 20 percent increase to $137.3 million in 2024, as reported by NACO.
Anges Québec’s fiscal Q1 report of 2024-2025 noted receiving 210 investment opportunities, considering 11, and participating in two. The report highlighted hope for market recovery and shifting interest towards non-Québec investments.
Cantin remains hopeful for market recovery. He advises Anges Québec members to be selective and maintain good investment positions early on.
“We still have a good flow of companies needing funding,” Cantin said. “Being selective can help maintain good positions with less capital.”