CDPQ and S2G Partnering on Sustainable, Climate Friendly Food and Ag Venture Investments
Multi-stage venture fund S2G Ventures and institutional investor Caisse de dépôt et placement du Québec (CDPQ) announced today that they are entering into a co-investment partnership where CDPQ will invest up to US$125 million over the next 3 years in ventures that aim to make the food and agriculture industry more sustainable and climate friendly.
CDPQ stated that it selected S2G for the new initiative after conducting a full market review of potential partners. S2G specializes in investing across the food, agriculture, oceans and seafood markets, backing entrepreneurs that are improving the overall health and sustainability of the food system. The partners stated that by providing an opportunity to invest behind entrepreneurs that are developing concrete solutions to climate change, the agreement will further their shared core principles and objectives, including a long-term outlook and a commitment to sustainable investing.
Kim Thomassin, Executive Vice-President and Head of Investments in Québec and Stewardship Investing at CDPQ, said:
“By enabling investments in ventures and growth equity companies involved in the production, supply chain and consumption stages, this partnership will help reduce the agri-food industry’s carbon footprint. S2G is a leading investment firm in this sector and we are delighted to partner with them to support cutting-edge entrepreneurs who will make the food and agriculture industry more sustainable.”
Sanjeev Krishnan, Managing Director and CIO of S2G, added:
“We are excited about this partnership with CDPQ and the potential to invest behind leading entrepreneurs in the food system. CDPQ shares our long-term vision of combating climate change, and brings to the table tremendous experience investing in leading companies worldwide.”
According to CDPQ, the co-investment agreement resulted from CDPQ’s partnership with CREO Family Office Syndicate (CREO), a New York City-based not-for-profit organization that aims to galvanize capital into low carbon solutions.
Mario Therrien, Head of Investment Funds and External Management at CDPQ, said:
“This agreement is part of a larger innovation platform we have implemented to leverage opportunities with strategic partners such as CREO, Family Offices, long term investors and industrial groups, in order to direct more capital towards innovative investments in sustainability initiatives.”