CANADA GROWTH FUND ANNOUNCES FIRST CLEANTECH FUND COMMITMENT
MONTREAL, March 25, 2024 /CNW/ - Today, Canada Growth Fund Inc. ("CGF") announced a C$50M commitment to Idealist Climate Impact Fund LP (the "Fund"), a fund managed by Montreal-based Idealist Capital ("Idealist"), an investment manager pursuing commercialization stage growth equity investment opportunities in companies whose products, technologies and services are accelerating the energy transition.
- MONTREAL, March 25, 2024 /CNW/ - Today, Canada Growth Fund Inc. ("CGF") announced a C$50M commitment to Idealist Climate Impact Fund LP (the "Fund"), a fund managed by Montreal-based Idealist Capital ("Idealist"), an investment manager pursuing commercialization stage growth equity investment opportunities in companies whose products, technologies and services are accelerating the energy transition.
- CGF's first investment in a cleantech fund is in keeping with its mandate to foster growth and innovation in the Canadian clean technology sector.
- "Today's investment underscores CGF's strategic role in Canada's cleantech market, as a catalytic investor seeking to accelerate the growth of promising Canadian cleantech companies," said Patrick Charbonneau, President and CEO of the Canada Growth Fund Investment Management team ("CGFIM").
- Idealist is an experienced team of investors with a track record of supporting the growth of cleantech businesses.