The Caisse de dépôt et placement du Québec is investing in a fund focused on supporting innovative technology companies.
The New York-based White Star Capital, a multi-stage global technology investment platform, raised $360 million from investors during an investment round for its most recent flagship fund. The platform, which projected securing $300 million from investors, launched two similar funds in 2015 and 2018. The first brought in $70 million from investors and the second attracted $180 million.
White Star Capital plans to deploy the capital to between 15 and 20 North American, European and Asian emerging technology companies, which are expected to be involved in developing technology for a range of sectors, including artificial intelligence, finance and food services.
In a press release, Mario Therrien, head of investment funds at the Caisse, described the investment as being aligned with a strategy to support technology companies expanding into new countries.
In other news, the Investment Management Corp. of Ontario is making a US$500 million platform investment in private debt credit manager and debt provider.
The investment in the Chicago-based Antares Capital is part of a strategy to focus on building a diverse portfolio of sponsor-backed loans to Canadian and U.S. borrowers in its global credit program.
Antares, which provides financing to mid-market private equity-backed companies in North America, has US$42.9 billion of capital under its management and administration.
The IMCO’s global credit program’s $4.6 billion portfolio makes allocations to liquid and illiquid securities across the risk spectrum. The portfolio will be diversified across industry and sponsors and will target between 75 and 100 issuers.
In a press release, Jennifer Hartviksen, managing director of the IMCO’s global credit program, noted the stable returns offered by private debt are well-aligned with the organization’s tolerance for illiquid, long-term investments. “Antares has a 25-year track record investing across markets and industry cycles. Our new direct lending program will benefit from Antares’ broad suite of lending capabilities.”