CDPQ commits C$40m to private fund manager Teralys Capital

This second investment sees CDPQ increase its support for local startups to C$90 million.

  • Teralys provides capital to Canadian venture capital funds investing in information technologies, life sciences, and clean or industrial innovations
  • Last month Teralys was one of four funds-of-funds managers selected by the federal government’s Venture Capital Catalyst Initiative to receive a total of C$350 million

Caisse de dépôt et placement du Québec has provided an additional C$40 million commitment to Teralys Capital, a Montreal-based private fund manager.

Teralys provides capital to Canadian venture capital funds investing in information technologies, life sciences, and clean or industrial innovations. It has C$2 billion under management.

Launched at the end of 2019 with C$50 million in financing from CDPQ, Teralys has invested in about ten Québec funds that support companies at the start-up stage. This second investment sees CDPQ increase its support to C$90 million.

“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, in a statement. “It demonstrates our support for emerging local businesses and desire to help propel their activities.”

Last month Teralys was one of four funds-of-funds managers selected by the federal government’s Venture Capital Catalyst Initiative to receive a total of C$350 million. The other managers were HarbourVest Partners, Kensington Capital Partners and Northleaf Capital Partners.

As of June 30, 2022, CDPQ’s net assets totalled C$391.6 billion.