Innocap, Finance Montréal unveil new ESG and sustainable finance fund

• The Investi Fund has secured C$300 million in expressions of interest from 10 investors
• They are National Bank Investments, Bâtirente, Beneva, Caisse de dépôt et placement du Québec, Desjardins, Fondaction, Fonds de solidarité FTQ, Trottier Family Foundation, Optimum Financial Group and Samara Family Office
• Innocap will manage the vehicle, which will back Quebec-based asset management firms specializing in ESG and sustainable finance

Innocap and Finance Montréal have launched the Investi Fund, a vehicle focused on investing in strategies incorporating environmental, social, and governance criteria (ESG) and sustainable finance. The fund aims to raise C$1 billion over 24 months.

Investi Fund has secured C$300 million in expressions of interest from 10 investors: National Bank Investments, Bâtirente, Beneva, Caisse de dépôt et placement du Québec, Desjardins, Fondaction, Fonds de solidarité FTQ, Trottier Family Foundation, Optimum Financial Group and Samara Family Office.

Innocap will manage the vehicle, which will back Quebec-based asset management firms specializing in ESG and sustainable finance.

“The potential participation of institutional investors will enable the Investi Fund to establish a rigorous governance structure, ensure full transparency on the fund’s activities and portfolio assets, and provide continuous monitoring in sustainable finance to prevent greenwashing and promote best practices in sustainable investment. With the Investi Fund, our aim is to finally make sustainable finance a driving force in the influence of the Quebec financial industry,” said Caroline Bergeron, senior director, impact and ESG solutions at Innocap, in a statement.

“Taking ESG factors into account lets us better measure a company’s long-term viability and gain a deeper understanding of the risks it faces, so it’s important to equip asset management firms with the tools to adopt best practices. Contributing to Fonds Investi is one example of how CDPQ is taking additional action to help build a more sustainable economy,” said Mario Therrien, head of investment funds and external management at CDPQ.

Based in Montreal, Innocap helps institutional investors to structure, control and access alternative investments through a dedicated managed accounts platform. It had C$56 billion of assets as of December 31, 2022.