The Caisse de dépôt et placement du Québec is continuing its investment partnership with MacKinnon, Bennett & Company Inc. in the form of a new joint $150-million investment in late-venture and early growth-stage companies focused on the decarbonization and transition to renewable-energy-powered transportation.
The Caisse initially invested in the company in 2016 and again in 2019, alongside the Business Development Bank of Canada, Fonds de solidarité FTQ, Export Development Canada and Investissement Québec.
Read: Caisse investing further in electric vehicle charging network
According to a press release, the joint fund previously backed a $53-million round of Series C funding for AddÉnergie Technologies Inc., a Quebec-based operator of electric vehicle charging stations, as well as a US$35-million investment in Ample, a smart modular battery and automotive technology company.
“We are delighted to invest in MKB’s latest fund and work with its seasoned team that over the years has demonstrated its deep understanding of renewable energy, sustainable transportation and smart cities,” said Kim Thomassin, the Caisse’s executive vice-president and head of investments in Québec and stewardship investing, in the release.
Read: Ontario Teachers’ committing to net-zero emissions by 2050
In other news, the Ontario Teachers’ Pension Plan Board has invested $150 million in Tanium, a cybersecurity and information technology management provider. The sale was completed through the pension plan’s Teachers’ Innovation Platform, noted a press release.
“Tanium is transforming the way organizations of all sizes protect their mission critical networks against increasing cyber threats,” said Olivia Steedman, the senior managing director of the Ontario Teachers’ innovation platform, in the release. “TIP looks to invest in innovative companies with great growth potential: Tanium’s leading endpoint management and security platform — alongside its mission to transform IT management — certainly meet those criteria.”
Read: Caisse investing in Taiwan wind farm, CPPIB in Indonesian logistics venture