CDPQ

Their thesis, in full

CDPQ, which now operates under the La Caisse brand, is one of Canada's largest institutional investors: a public pension and insurance fund manager with roughly $552B CAD in net assets, not an early-stage venture firm that reviews cold pitch decks. For startup founders, the realistic point of contact is indirect: CDPQ is a limited partner in many Quebec and international VC funds (Inovia, Real Ventures, BrightSpark, Teralys, Luge, Anges Quebec Capital and others), so its capital reaches early-stage companies through those managers rather than directly. CDPQ does invest directly in technology, but typically at growth or late stage (often around Series C and beyond), through its Venture Capital and Technology team, writing large cheques into companies with strong recurring revenue and an established team. A seed or Series A founder should not expect a direct CDPQ cheque; the better path is to raise from a fund CDPQ backs, build to scale, then engage CDPQ later for growth capital. Growth-stage founders in Quebec or pan-Canadian tech (AI, fintech, healthtech, climate, vertical SaaS) can approach via the Quebec Investments or Venture Capital and Technology teams, or a warm introduction.

Questions they usually ask

Have an answer ready for each one before the first call.

1. Is the company at growth or late stage (strong recurring revenue, clear path to profitability, established team) rather than seed or Series A, where CDPQ does not invest directly?
2. Does the company have a clear Quebec or Canadian economic footprint and the scale to absorb a large growth cheque while delivering a strong long-term return for depositors?
3. Is there an existing relationship through a CDPQ-backed fund (Inovia, Teralys, Real Ventures) or a portfolio company that can provide a warm introduction, rather than a cold inbound pitch?

Follow-on

CDPQ frames its role as structuring and value-additive, not purely financial: it pairs flexible growth capital with sector expertise, operational guidance and access to an extensive Quebec and international business network. In tech, the Venture Capital and Technology and mid-market teams help portfolio companies scale and expand abroad. Founders should treat CDPQ as a later-stage partner and ecosystem anchor reached through its funds and networks, rather than a direct seed-stage backer.

Who to talk to

• Charles EmondPresident and Chief Executive OfficerLinkedIn ↗
• Kim ThomassinExecutive Vice-President and Head of QuébecLinkedIn ↗
• Julien DirandManaging Director, Mid-Market Companies and Venture CapitalLinkedIn ↗
• Caroline CôtéManaging Director, Investment Funds and External Management, Private MarketsLinkedIn ↗