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Caisse de depot et placement du Quebec company logo
Asset/Investment Management
FINANCE | Investment Firms & Funds
cdpq.com

Investments

219

Portfolio Exits

56

Funds

10

Partners & Customers

10

Service Providers

3

About Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec is an institutional investor that manages several public and para-public pension plans and insurance programs in Quebec. The company invests in public equity and fixed income markets across the globe, as well as real estate, infrastructure, and hedge funds. Its private equity activities specialize in the fund of fund investments, investing in a leveraged buyout, growth capital, venture capital, distressed debt, mezzanine debt, and restructuring opportunities in privately held companies and also invest in public companies. The company was founded in 1965 and is based in Quebec City, Canada.

Headquarters Location

65, rue Sainte-Anne 14th Floor

Quebec City, Quebec, G1R 3X5,

Canada

418-684-2334

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Latest Caisse de depot et placement du Quebec News

Luge Capital: $71 Million First Close Of Second Fund Completed

Sep 28, 2023

Luge Capital recently announced that it has raised CA$71 million in the first close of its second fund, Luge Capital Fund II, towards an ultimate fund size of $100 million. And the LPs in Fund II include returning investors CDPQ, Desjardins, BDC Capital, Sun Life, Industrial Alliance Financial Group (iA), Fonds de solidarité FTQ, and new investor Inovia Discovery Fund I. Luge Capital Fund II will invest in early-stage fintech startups in Canada and the U.S. that are led by exceptional founders with a drive to affect change globally. Along with the core investment thesis from its first fund, Luge is expanding its scope of investments to include verticalized fintech startups that operate at the intersection of financial services and other large industries and fintech-oriented environmental, social, and (corporate) governance (ESG) startups. The initial investments made into startups from Fund II are expected to be slightly larger than those made from Luge’s first fund. Luge’s team – including its two general partners who are fintech experts with unique backgrounds as operators, founders, engineers, venture investors, and corporate executives – has been immersed in the fintech sector for many decades and is backed by deep domain expertise. And since the firm was launched in 2018, Luge has been executing its strategy to invest in the most promising fintech companies in North America and working collaboratively with large financial institutions, especially its LPs. Luge invested in 21 companies from the approximate $85 million raised for Luge Fund I. And notable investments include Flinks (acquired by National Bank of Canada in 2021), Plooto, Owl, Flare, and OneVest. The Luge Capital Fund II was announced today at the Canada Fintech Forum 2023 in Montreal, where the Luge team is sharing its expertise on various fintech topics. KEY QUOTES: “Our LPs are made up of large financial institutions, leading insurance carriers, and big pension funds who are both strategic and returns-based. We’ve developed a playbook for how we work with them and their additional commitments in Fund II are a testament to that model working. The partnerships we have with our LPs and their unique insights give our team a competitive advantage when it comes to backing the most promising fintech founders.” — David Nault, General Partner at Luge Capital “Financial services impact the lives of every person, from opening a bank account and making payments to buying insurance and making investments. Yet large institutions are finding it challenging to modernize their legacy technology. By investing in high-calibre fintech founders who are solving the industry’s biggest problems, Luge is helping to drive innovation across the financial services that are the lifeblood of the economy and account for 20 percent of the GDP in the U.S. and in Canada.” — Karim Gillani, General Partner at Luge Capital “CDPQ continues to collaborate with Luge Capital, having supported its founding in 2018. In this way, we are supporting the Québec ecosystem in the financial technology sector while encouraging a fund headquartered in Montréal, at Espace CDPQ.” — Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ “Desjardins is proud to invest in Luge Capital Fund II, having been a founding partner since the launch of Luge Capital in 2018. As a financial cooperative, it is important for Desjardins to continue to support the development of early stage Fintech companies and be an active player in the technology sector to better serve our members and clients.” — Martin Brunelle, SVP Growth, Acquisition and Development at Desjardins “BDC Capital is delighted to continue its foundational partnership with Luge Capital via an anchor investment in Luge Capital Fund II. As a manager with deep expertise in the sector, Luge has the ability to support early stage Fintech companies as they look to scale their businesses and become meaningful contributors to Canada’s economic prosperity.” — Alison Nankivell, SVP Fund Investments at BDC Capital “Fintech drives our world towards innovation and creativity. It’s the engine that makes us move forward, in a more complex environment. Our investments in startups accompanied by Luge Capital allow our financial institutions to reshape our industry. For Sun Life, it contributes to our ability to realize our purpose: helping Clients achieve lifetime financial security and live healthier lives.” — Robert Dumas, President and CEO of Sun Life Quebec “Our partnership with Luge Capital gives us exclusive access to the fintech environment, which has value-creation virtue for iA Financial Group. In this sense and taking into account the results obtained to date, we have agreed to continue our association with them by subscribing to this second Fund.” — Pierre Miron, Executive Vice-President, Chief Growth Officer Canadian Operations at iA Financial Group “To ensure that the Québec fintech ecosystem continues to prosper and that fintech entrepreneurs have access to the capital they need, it is essential to support specialized fund managers. Since its launch five years ago, Luge has become a key actor in Québec’s fintech sector by investing in several startups. We are proud to continue our partnership with Luge by investing in their second fund.” — Saloua Benkhouya, Vice-President, Private Equity and Impact Investing – Services, at the Fonds de solidarité FTQ “The Luge Capital team’s track record as operators and investors have quickly established them as the go-to Canadian firm for fintech entrepreneurs in Canada and the U.S. Inovia has partnered with the Luge team since before the firm’s founding and we are pleased to join Luge Capital Fund II as a Limited Partner through Inovia Discovery Fund I.” — Prem Kalevar, Inovia Vice-President, Discovery Program Trending on Pulse 2.0

Caisse de depot et placement du Quebec Investments

219 Investments

Caisse de depot et placement du Quebec has made 219 investments. Their latest investment was in Savaria as part of their PIPE on September 9, 2023.

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Caisse de depot et placement du Quebec Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/29/2023

PIPE

Savaria

$18.58M

Yes

1

9/20/2023

Unattributed

Vooban

Yes

1

7/17/2023

Unattributed

AMB Modulaire

Yes

2

6/20/2023

Corporate Minority

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10

6/6/2023

Unattributed

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$99M

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10

Date

9/29/2023

9/20/2023

7/17/2023

6/20/2023

6/6/2023

Round

PIPE

Unattributed

Unattributed

Corporate Minority

Unattributed

Company

Savaria

Vooban

AMB Modulaire

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Amount

$18.58M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

1

2

10

10

Caisse de depot et placement du Quebec Portfolio Exits

56 Portfolio Exits

Caisse de depot et placement du Quebec has 56 portfolio exits. Their latest portfolio exit was USI Insurance Services on September 10, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/10/2023

Acq - Fin - V

$99M

5

6/20/2023

Acquired

$99M

7

5/25/2023

Asset Sale

$99M

5

5/11/2023

Acquired

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$99M

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10

5/4/2023

Acquired

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$99M

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10

Date

9/10/2023

6/20/2023

5/25/2023

5/11/2023

5/4/2023

Exit

Acq - Fin - V

Acquired

Asset Sale

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

5

7

5

10

10

Caisse de depot et placement du Quebec Acquisitions

48 Acquisitions

Caisse de depot et placement du Quebec acquired 48 companies. Their latest acquisition was Akiem on December 12, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/12/2022

Other

$99M

Acquired

2

5/29/2022

$99M

Corporate Majority

3

5/3/2022

$99M

Acquired Unit - Fin

3

1/19/2022

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$99M

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10

10/22/2021

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$99M

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10

Date

12/12/2022

5/29/2022

5/3/2022

1/19/2022

10/22/2021

Investment Stage

Other

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acquired

Corporate Majority

Acquired Unit - Fin

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Sources

2

3

3

10

10

Caisse de depot et placement du Quebec Fund History

10 Fund Histories

Caisse de depot et placement du Quebec has 10 funds, including AG CDPQ Capital Solutions I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/2/2020

AG CDPQ Capital Solutions I

$151M

1

3/18/2019

CDPQ–AI Fund

Multi-Stage Venture Capital

Closed

$188.3M

1

11/27/2018

CDPQ Infrastructure Fund

$926M

1

4/24/2017

Fonds agroalimentaire CDPQ

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$99M

10

2/21/2017

Croissance CDPQ

$99M

10

Closing Date

7/2/2020

3/18/2019

11/27/2018

4/24/2017

2/21/2017

Fund

AG CDPQ Capital Solutions I

CDPQ–AI Fund

CDPQ Infrastructure Fund

Fonds agroalimentaire CDPQ

Croissance CDPQ

Fund Type

Multi-Stage Venture Capital

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Status

Closed

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Amount

$151M

$188.3M

$926M

$99M

$99M

Sources

1

1

1

10

10

Caisse de depot et placement du Quebec Partners & Customers

10 Partners and customers

Caisse de depot et placement du Quebec has 10 strategic partners and customers. Caisse de depot et placement du Quebec recently partnered with Vertical Bridge on May 5, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

5/27/2021

Partner

United States

CDPQ and Vertical Bridge: a relationship based on trust and targetted towards accelerating growth

CDPQ and Vertical Bridge : a relationship based on trust and targetted towards accelerating growth .

1

4/1/2021

Vendor

United States

By Saur News Bureau / Updated On Mon, Apr 5th, 2021. CDPQ and Energize Ventures Partner to Invest in Clean Energy Technologies - Saur Energy International

The co-investment agreement expands du Québec 's existing relationship with Energize Ventures : du Québec is a Limited Partner in Energize Ventures I , and an anchor Limited Partner in Energize Ventures II .

3

3/5/2021

Partner

United Arab Emirates, and Indonesia

DP World And CDPQ Sign Long-Term Port And Logistics Park Agreement With Maspion Group In Indonesia

A strategic partnership between DP World and CDPQ 's joint platform and Maspion Group for a US$ 1.2 billion container port and industrial logistics park in East Java

2

3/5/2021

Partner

United Arab Emirates

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10

3/2/2021

Partner

Spain

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10

Date

5/27/2021

4/1/2021

3/5/2021

3/5/2021

3/2/2021

Type

Partner

Vendor

Partner

Partner

Partner

Business Partner

Country

United States

United States

United Arab Emirates, and Indonesia

United Arab Emirates

Spain

News Snippet

CDPQ and Vertical Bridge: a relationship based on trust and targetted towards accelerating growth

CDPQ and Vertical Bridge : a relationship based on trust and targetted towards accelerating growth .

By Saur News Bureau / Updated On Mon, Apr 5th, 2021. CDPQ and Energize Ventures Partner to Invest in Clean Energy Technologies - Saur Energy International

The co-investment agreement expands du Québec 's existing relationship with Energize Ventures : du Québec is a Limited Partner in Energize Ventures I , and an anchor Limited Partner in Energize Ventures II .

DP World And CDPQ Sign Long-Term Port And Logistics Park Agreement With Maspion Group In Indonesia

A strategic partnership between DP World and CDPQ 's joint platform and Maspion Group for a US$ 1.2 billion container port and industrial logistics park in East Java

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Sources

1

3

2

10

10

Caisse de depot et placement du Quebec Service Providers

3 Service Providers

Caisse de depot et placement du Quebec has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Management Buyout

Investment Bank

Financial Advisor

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Service Provider

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Associated Rounds

Management Buyout

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Provider Type

Investment Bank

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Service Type

Financial Advisor

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Partnership data by VentureSource

Caisse de depot et placement du Quebec Team

29 Team Members

Caisse de depot et placement du Quebec has 29 team members, including current Chief Executive Officer, President, Charles Emond.

Name

Work History

Title

Status

Charles Emond

Chief Executive Officer, President

Current

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Name

Charles Emond

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Work History

Title

Chief Executive Officer, President

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Status

Current

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