"Since François joined TELUS in 2008, he has played a crucial role in the success of our organisation," said Mr. Entwistle. "His entrepreneurial spirit has helped us tackle many challenges and will be a major asset in his new responsibilities. By bringing his proven leadership and well-honed skills to the TELUS Ventures team, I am confident that he will manage our company's venture investments strategically and effectively."
TELUS Ventures has built an outstanding investment portfolio by working with high-potential, privately-held companies that offer unique technologies and innovative products that exploit the convergence of voice, enhanced data, digital media and wireless. Since 2001, TELUS Ventures has invested $95 million in 34 companies and has a current portfolio of 14 active companies valued at more than $50 million. In 2012, four TELUS Ventures portfolio companies have had successful liquidity events, the most recent being Ruckus Wireless, the Wi-Fi technology pioneer, which listed on the NYSE and generated a more than eight-fold return for TELUS.
Mr. Côté will continue to advance our venture investments in the communications sector while increasing our investment in the health sector, leveraging our best-in-class expertise and reputation as a technology leader focused on preventative healthcare. By strategically and thoughtfully targeting our future venture investments toward the healthcare industry, Mr. Côté will further advance our TELUS Health strategic pursuits while ensuring we consistently realize a strong economic return on our ventures portfolio.
In addition to being active in various causes, Mr. Côté sits on the Boards of the Montreal Heart Institute and Acti-Menu. He is also a member of the Board of Governors for the Fondation de la tolérance and the Executive Committee of the Centre d'exposition de l'Université de Montréal, as well as the Chair of the Board of FitSpirit.Under Mr. Côté's leadership, TELUS was recently the first organization to be named Philanthropic Company of the Year by the Association of Fundraising Professionals - Quebec Chapter.