The Caisse de dépôt et placement du Québec has created a $250-million fund that will invest in natural resources development-stage companies in the province.
The Sodémex Développement fund will make investments of $5 million to $20 million, which it hopes will help alleviate the shortage of available capital in the sector.
“The current business climate in the natural resources sector can present attractive long-term investment opportunities,” says Normand Provost, executive vice-president, equity, with the Caisse. “This represents a critical entry point for the Caisse in projects that are in the development stage.”
This fund will be supported by a board of directors comprising three members from the Caisse and two external members with technical and operational expertise in the natural resources sector.
With the creation of the Sodémex Développement fund, the Caisse will now have a presence with Quebec companies active in the natural resources sector in all stages of development, from exploration to mining activities.
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