Caisse investing in U.S.-based fintech company

The Caisse de dépôt et placement du Québec is investing in IEX Group Inc., a New York-based financial technology company.

The company operates the Investors’ Exchange, a U.S. securities exchange that handles about US$12 billion worth of shares every day, according to a press release. It also recently launched IEX Cloud, a platform that delivers financial data to business professionals and application developers.

Read: Caisse participating in financing round for Quebec payment-tech provider

“IEX has a proven experience in developing technologies and services in line with the evolution of financial markets and contributes to provide diversified options to market investors,” said Alexandre Synnett, executive vice-president and chief technology officer at the Caisse, in the release. “Furthermore, this transaction strengthens our presence in key strategic sectors such as fintech, financial intelligence and big data. We look forward to supporting the IEX Group management team in executing new growth initiatives.”

This is the latest fintech investment by the pension fund. Previous investments include AvidXchange Inc., FNZNuvei and Portag3 Ventures II.