XPND Capital closed its second fund, XPNDCROISSANCE, at $75 million. Investors include Fonds de solidarité FTQ, Fondaction CSN, Investissement Québec and Caisse de dépôt et placement du Québec. XPND Capital, of Quebec, makes growth investments.
XPND Capital Announces Closing of its Second Fund, XPNDCROISSANCE
Total capitalization reaches $75 million with the participation of Fonds de solidarite FTQ and Fondaction CSN. Investissement Quebec increases its participation.
MONTREAL, QUEBEC–(Marketwired – March 2, 2016) – XPND Capital, a Quebec-based private equity firm focused on growth investments, today announced the closing of its second fund, XPNDCROISSANCE, and the participation of Fonds de solidarité FTQ (contributing $10 million), and of Fondaction CSN (contributing $5 million). Investissement Québec also increased its participation (by $5 million, increasing its total participation to $15 million).
Taking into consideration the Caisse de dépôt et placement du Québec’s $15 million participation announced in November 2015, these additional investments bring XPNDCROISSANCE’s total capitalization to $75 million.
“We are very happy to have the support of committed investors such as the Fonds de solidarité FTQ and Fondaction CSN, who are dedicated to socially responsible investing and sustainable economic development practices, said Alexandre Taillefer, Managing Partner at XPND Capital. XPNDCROISSANCE can count on the financial and strategic support of a variety of important institutional and private investors. The fund now has all the necessary resources to support innovative companies that have the potential to create quality jobs and become part of the next generation of large successful companies in Quebec.”
“The initial investments made by XPNDCROISSANCE have already served to support the first phases of the launch of Téo, our innovative electric taxi project, and helped to support the growth of Lion Bus, a manufacturer of electric school buses, added Dominic Becotte, Partner at XPND Capital. We are currently evaluating several promising projects in innovative fields including sustainable transportation, media & entertainment and technology, where our expertise and that of our network can rapidly generate value.”
“With a practical and hands-on approach, Alexandre Taillefer and the XPND Capital team help transform companies operating in traditional sectors of the economy into innovative businesses that fully leverage the potential of new technologies. By combining creativity and partnerships to this approach, XPNDCROISSANCE is encouraging the emergence of the next generation of forward-looking entrepreneurs. This commitment is part of the Fonds de solidarité FTQ’s commitment to supporting innovation and sustainable economic development in order to build Quebec’s prosperity,” added Alain Denis, Senior Vice-President, Innovation at Fonds de solidarité FTQ.
“Fondaction is pleased to participate in promising projects that are important for the future and that correspond to our desire to contribute to the vitality of Quebec with a view towards sustainable development. We are very happy to join XPNDCROISSANCE,” added Léopold Beaulieu, President and CEO of Fondaction.
“The rapid development of XPNDCROISSANCE’s capitalization is great news for the economy of Quebec. As the first institutional investor to support this fund, Investissement Québec raised its total investment to $15 million to accompany the other institutional and private investors that will make it possible for more than $75 million to be invested by Alexandre Taillefer’s team of managers in high-potential Quebec-based businesses operating in leading-edge sectors,” said Pierre Gabriel Côté, President and CEO of Investissement Québec.
“The investment last Fall by la Caisse, in XPNDCROISSANCE, was driven by the importance of building the next generation of innovative companies in Québec. This investment is perfectly aligned with our commitment to strengthen, directly or indirectly through funds, high-potential Québec companies in key phases of their growth,” said Thomas Birch, Senior Director, Fund Management at Caisse de dépôt et placement du Québec.
About Fonds de solidarité FTQ
The Fonds de solidarite╠ü FTQ helps drive our economy. With net assets of $11.2 billion as of November 30, 2015, the Fonds is a development capital fund that channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and further Que╠übec’s development. The Fonds is a partner, either directly or through its network members, in more than 2,550 companies. With more than 600,000 shareholder-savers, the Fonds helps create, maintain and protect more than 176,000 jobs. For more information, visitwww.fondsftq.com.
About Fondaction CSN
Fondaction CSN invests in Québec SMEs in order to help maintain and create jobs in Québec, within a context of sustainable development. It manages $1.2 billion in assets from retirement savings collected from 128,000 shareholders. Through its investments or commitments, either directly or by way of partner or specialized funds, Fondaction CSN supports the development of more than 850 companies, many of which are cooperatives. www.fondaction.com.
About Investissement Québec
Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to the economic development and creation of jobs in all regions of the province. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, in order to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment. www.investquebec.com
About Caisse de dépôt et placement du Québec
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2015, it held $248.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visitwww.cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
About XPND Capital
XPND Capital is a private equity firm focused on growth investments in exceptional Quebec-based companies. Its mission is to help build the next generation of large successful companies in Quebec, by helping entrepreneurs in their growth phase and contributing strategic capital. XPND Capital brings together the expertise, network and capital of many renowned technology entrepreneurs and has the support of large institutional investors. For more information, please visit www.xpnd.com