Caisse de dépôt et placement du Québec is investing $15 million in the XPNDCROISSANCE Fund. XPND Capital makes growth investments in Quebec-based companies. XPNDCROISSANCE has so far raised $52 million on a $70 million target.
MONTREAL, QUEBEC–(Marketwired – Nov. 17, 2015) – Caisse de dépôt et placement du Québec (CDPQ) is investing $15 million in XPNDCROISSANCE, a growth capital fund dedicated to investing in high-potential Québec companies active in the areas of sustainable transportation, innovative industries, technology, media and entertainment.
The interest of la Caisse, major investor in XPNDCROISSANCE, brings the Fund’s capitalization to $52 million. It is expected that the Fund will have $70 million to encourage the emergence of the next generation of leading businesses in Québec.
“This transaction reflects our commitment to strengthen and accompany, directly or through funds, high-performing companies at key stages of their growth,” says Thomas Birch, Senior Director, Québec Fund, at la Caisse. “Through this investment, la Caisse is contributing to the development of innovative Québec-based industries, while providing our clients with attractive return prospects.”
“We are very pleased with the investment made by this large institutional investor in our XPNDCROISSANCE Fund,” said Alexandre Taillefer, Managing Partner at XPND Capital. “Caisse de dépôt et placement du Québec is a committed partner, dedicated to Québec’s economic development, with an impressive reputation internationally. Their investment will enable us to further the efforts of exceptional Québec companies and accelerate their development.”
ABOUT XPND CAPITAL AND THE XPNDCROISSANCE FUND
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 bringing strategic capital and expertise and collaborating with entrepreneurs in their growth phase. XPND Capital’s second fund, XPNDCROISSANCE, brings together the expertise, network and capital of some of Canada’s most renowned technology entrepreneurs. The fund also has the support of the Caisse de dépôt et placement du Québec and Investissement Québec, both renowned institutional investors. For more information, please visit www.xpnd.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 June 30, 2015, it held $240.8 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse, which marks its 50th anniversary this year, invests globally in major financial markets, private equity, infrastructure and real estate. For more information: www.cdpq.com.