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Public-Private Partnership
fondaction.com

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Investments

42

Portfolio Exits

7

About FondAction CSN

Fondaction invests in venture capital in order to maintain and create jobs in Quebec. Its net assets, which stood at $544.6 million as at November 30, 2008, are derived from retirement savings collected from more than 86,000 shareholders. It is the financial partner of about a hundred enterprises and partner and specialized funds. It favours enterprises that subscribe to a participatory management process, enterprises in the social economy (employee-controlled, cooperatives, etc.) and those that practice environmental stewardship. Fondaction is Quebec's first financial institution to obtain OS (Organisational Stakeholder) status under the Global Reporting Initiative (GRI), implemented by the United Nations Environment Programme (UNEP)

FondAction CSN Headquarter Location

Montreal, Quebec,

Canada

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Latest FondAction CSN News

CDPQ, Fonds de solidarité, Fondaction, Desjardins Capital invest $300M in La Coop fédérée

Oct 30, 2019

CDPQ, Fonds de solidarité, Fondaction, Desjardins Capital invest $300M in La Coop fédérée La Coop fédérée has raised additional $300 million in preferred equity funding from Caisse de dépôt et placement du Québec (CDPQ), Fonds de solidarité FTQ, Fondaction CSN, and Capital régional et coopératif Desjardins (CRCD)/Desjardins Capital. La Coop fédérée has so far raised $600 million in preferred equity funding. It previously raised $300 million two funding rounds with Fonds de solidarité, Fondaction, CRCD and National Bank of Canada. Founded in 1922, La Coop fédérée is the largest agri-food enterprise in Quebec, the only Canada-wide agricultural cooperative and the 24th largest agri-food cooperative in the world. It represents more than 120,000 members, agricultural producers and consumers in nearly 60 cooperatives in several Canadian provinces. It employs more than 14,000 people and has sales of $6.5 billion. photo credit: La Coop fédérée News Release Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, Fondaction and Desjardins Capital invest $300 million in La Coop fédérée MONTREAL, Oct. 30, 2019 /CNW Telbec/ – La Coop fédérée, the largest agri-food enterprise in Quebec and the only Canada-wide agricultural cooperative, is pleased to announce that Caisse de dépôt et placement du Québec (“CDPQ”), the Fonds de solidarité FTQ, Fondaction and Desjardins Capital will invest $300 million in La Coop fédérée. This investment takes the form of preferred shares and the amounts invested will be paid into the share capital of La Coop fédérée. The proceeds of this subscription will be used to finance the capital acquisition and capital investment projects of La Coop fédérée and its divisions resulting from La Coop fédérée’s 2019-2022 strategic goals. “La Coop fédérée has experienced unprecedented growth in recent years, consolidating its leading position in the agri-food and retail sectors in Quebec and Canada, said Gaétan Desroches, Chief Executive Officer of La Coop fédérée. This investment by these reputable financial institutions that is being announced today is not only a great sign of confidence in our organization, but also in the cooperative business model. ” “The agri-food industry, at the very heart of people’s day-to-day life, is an important driver for Québec’s economy, stated Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. This investment will allow La Coop fédérée, one of the world’s largest agri-food cooperatives, to pursue its growth strategy while generating stable revenues for our depositors over the long term.” “By supporting the growth of La Coop fédérée, the Fonds de solidarité FTQ is also supporting the 120,000 members of La Coop fédérée, mostly SMEs that help Québec’s regions prosper. This investment in unsecured capital by the Fonds, in partnership with other Québec-based institutions, contributes to Québec’s economic development and supports jobs,” said Gaétan Morin, President and CEO of the Fonds de solidarité FTQ. “The sustainable agri-food industry is essential to Québec, its population and the development of its regions, and Fondaction has made it one of the major themes of its investment strategy. Our renewed support for La Coop fédérée is in line with this objective, said Stephan Morency, Chief Investment Officer at Fondaction. By supporting one of the largest Québec cooperatives, we are also contributing to the social economy, as it is well equipped to respond to the sustainable development issues across Québec.” “Desjardins Capital has been a financial partner of La Coop fédérée for almost 15 years and is proud to have been one of their first equity partners. This brings our total investment up to $100 million in preferred shares. This partnership supports vibrant rural communities in Quebec and across Canada,” says Luc Menard, Chief Operating Officer of Desjardins Capital. La Coop fédérée plays a leading role in the agricultural and agri-food economy and acts as a vehicle for growth and innovation in the rural regions of Quebec and Canada. The direct, indirect and induced spinoff from La Coop fédérée contribute nearly $4 billion to Canada’s GDP and generates more than 35,000 full-time jobs. In addition, its activities provide federal and provincial governments with tax revenues of $1 billion annually. About La Coop fédérée Founded in 1922, La Coop fédérée is the largest agri-food enterprise in Quebec, the only Canada-wide agricultural cooperative and the 24th largest agri-food cooperative in the world. It represents more than 120,000 members, agricultural producers and consumers in nearly 60 cooperatives in several Canadian provinces. It employs more than 14,000 people and has sales of $6.5 billion. Including its affiliated cooperatives, La Coop fédérée has more than 19,000 employees and combined sales of $9.5 billion. Its activities are divided into three divisions: Olymel SEC (under the Olymel, Flamingo, Lafleur, Aliments Triomphe and Pinty’s banners), Sollio Agriculture (under the La Coop, Elite, Agrocentre, Agrico, Agromart and Country Stores banners) and Groupe BMR inc. (under the BMR, Unimat, Agrizone, Potvin & Bouchard, The Shop and Country Stores banners). www.lacoop.coop 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, 2019, it held CA$326.7 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com. About the Fonds de solidarité FTQ The Fonds de solidarité FTQ is a development capital investment fund that deploys the savings of Quebecers. With net assets of $15.6 billion as of May 31, 2019, the Fund supports 215,104 jobs. The Fund is a partner with 3,126 companies and today has more than 700,000 shareholder-savers. About Fondaction Fondaction distinguishes itself through its investments, which are aimed at supporting, promoting and encouraging sustainable development. It manages assets in excess of $2 billion collected as retirement savings from more than 170,000 shareholders. Fondaction supports the development of more than 1,200 SMEs, many of which are social economy enterprises. It helps create and maintain jobs and reduce inequalities, and contributes to the fight against climate change. Fondaction reduced the carbon footprint of its equity market investments by 51% between 2015 and 2018. For more information, go to fondaction.com or visit our LinkedIn page. About Desjardins Capital Nearly 45 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.5 billion, Desjardins Capital helps contribute to the longevity of some 500 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to create and maintain more than 60,500 jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit our website at www.desjardinscapital.com or our LinkedIn page. SOURCE La Coop fédérée For further information: Source: Ben Marc Diendéré, Senior Vice-president, Communications, Public Affairs & Brand Management, La Coop fédérée, @Marc_Ben; Media Contact: Hugo Larouche, Senior Advisor, Corporate Communications & Public Affairs, La Coop fédérée, (514) 384-6450, poste 3604

FondAction CSN Investments

42 Investments

FondAction CSN has made 42 investments. Their latest investment was in SOFIAC as part of their Seed on October 10, 2021.

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FondAction CSN Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/28/2021

Seed

SOFIAC

$23.66M

Yes

2

10/30/2019

Unattributed VC - II

Sollio Cooperative Group

$228M

No

4

6/11/2019

Corporate Minority

Groupe JLD Lague

$10.16M

No

1

5/6/2019

Growth Equity

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$99M

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10

4/17/2019

Series H

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$99M

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10

Date

10/28/2021

10/30/2019

6/11/2019

5/6/2019

4/17/2019

Round

Seed

Unattributed VC - II

Corporate Minority

Growth Equity

Series H

Company

SOFIAC

Sollio Cooperative Group

Groupe JLD Lague

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Amount

$23.66M

$228M

$10.16M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Sources

2

4

1

10

10

FondAction CSN Portfolio Exits

7 Portfolio Exits

FondAction CSN has 7 portfolio exits. Their latest portfolio exit was Spectra Premium Industries on September 20, 2021.

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

9/20/2021

Acq - Fin

2

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

00/00/0000

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$991

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10

Date

9/20/2021

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Acq - Fin

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Companies

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Valuation

$991

Acquirer

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Sources

2

10

10

10

10

FondAction CSN Acquisitions

5 Acquisitions

FondAction CSN acquired 5 companies. Their latest acquisition was Wong Wing Foods on February 03, 2021.

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

2/3/2021

Acq - Fin

4

10/7/2020

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$99M

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10

6/19/2018

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$99M

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10

10/22/2014

Acq - Fin - II

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$99M

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10

6/17/2013

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$99M

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10

Date

2/3/2021

10/7/2020

6/19/2018

10/22/2014

6/17/2013

Investment Stage

Acq - Fin - II

Companies

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Valuation

Total Funding

$99M

$99M

$99M

$99M

Note

Acq - Fin

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Sources

4

10

10

10

10

FondAction CSN Team

1 Team Member

FondAction CSN has 1 team member, including current Chief Executive Officer, President, Leopold Beaulieu.

Name

Work History

Title

Status

Leopold Beaulieu

Chief Executive Officer, President

Current

Name

Leopold Beaulieu

Work History

Title

Chief Executive Officer, President

Status

Current

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