Institutional investor Caisse de dépôt et placement du Québec (CDPQ) announced today that it has selected leading global alternative investment manager Energize Ventures for a co-investment partnership targeting ventures that aim to accelerate the digital transformation of energy and sustainable industry sectors. CDPQ stated that it will invest up to $125 million through the new partnership.
The partnership marks an expansion of the existing relationship between the two companies, with CDPQ a Limited Partner in Energize Ventures I, and an anchor Limited Partner in the recently launched Energize Ventures II. Energize Fund I has invested nearly $200 million across 14 companies to date.
Mario Therrien, Head of Investment Funds and External Management at CDPQ, said:
“As part of its long-standing commitment to invest in solutions that address climate change, CDPQ is leveraging opportunities with strategic partners to direct more capital towards innovative investments and sustainability initiatives. We selected Energize as our partner because they have demonstrated an ability to identify leading energy investments while also supporting a cleaner and durable future.”
Under the new agreement, Energize and CDPQ will share industry knowledge with respect to climate and sustainable investments, emphasizing digital innovations that advance the energy transition. Focus areas for investment will include technologies aimed at addressing climate change, electrifying mobility, accelerating the deployment and adoption of renewable energy.
John Tough, Managing Partner of Energize Ventures, said:
“The energy transition is accelerating even faster than our predictions With this change comes a tremendous opportunity for innovative companies serving critical infrastructure, mobility, renewables and other sustainable industries to emerge and capture outsized market share. As a leading institutional investor with deep expertise and reach in the sustainability space, CDPQ is the ideal partner to invest alongside us in digital solutions that accelerate this critical transformation.”