CDPQ continues to support Québec start-ups

CDPQ today announced a $40-million additional investment in Fonds québécois d’amorçage Teralys, a Québec start-up fund created at CDPQ’s initiative that is managed by Teralys Capital, a Montréal-based private fund manager.

Launched at the end of 2019 with $50 million in financing from CDPQ, Fonds québécois d’amorçage Teralys has invested in around ten Québec funds that support companies at the start-up stage. This second investment sees CDPQ increase its support for local start-ups to $90 million. 

An extension of CDPQ’s mandate to Teralys Capital, the new funding will support the creation of innovative businesses at a stage in their development when finding financing can be challenging. Through this investment, CDPQ will be able to support companies active in promising areas including information technology, the energy transition, diversity and health care.

“With this second investment in Fonds québécois d’amorçage Teralys, CDPQ seeks to accelerate the growth of start-up companies and ensure that they benefit from the expertise of the team at Teralys, a seasoned and well-established Québec manager,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. “It demonstrates our support for emerging local businesses and desire to help propel their activities.” 

“CDPQ’s initiative, dedicated to local start-up funds, is perfectly in line with our desire to contribute to the development of entrepreneurship in Québec through high value-added support,” added Éric Legault, Managing Partner at Teralys Capital. “We are proud of CDPQ’s renewed confidence in Teralys Capital. Over the last 13 years, it has allowed us to build the largest Canadian investor specialized in innovation based here in Montréal.”