Michael McKiernan
The Caisse de dépot et placement du Québec is partnering with alternative investment manager Energize Ventures to promote digital innovation in the energy and sustainable industry sectors.
The co-investment partnership will see the Caisse commit up to $125 million over the next three years to ventures targeted at digital technologies that will advance the sustainable transition of energy and industry. The pension fund conducted a full market review of potential partners before selecting Energize, but the parties have a history of collaboration the Caisse is already a limited partner in the investment funds Energize Ventures I and Energize Ventures II.
SoftBank, BlackRock lead $US640m funding for start-up Trax
Yoolim Lee and Manuel Baigorri
Apr 8, 2021 – 4.55pm
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Trax, a Singapore-based start-up serving the retail industry, has raised $US640 million ($838 million) from investors led by SoftBank Vision Fund II and BlackRock Inc to bankroll its global expansion.
New investors in the Series E financing included Ontario Municipal Employees Retirement System, one of Canada’s largest pension funds known as Omers, as well as Sony Innovation Fund by IGV, the start-up said in a statement. The round valued Trax at more than $US3 billion, according to people familiar with the matter, who asked not to be named because the information is private.
UPDATE 1-SoftBank s Vision Fund 2, BlackRock lead $640 mln funding in tech firm Trax Reuters 3 hrs ago
April 7 (Reuters) - Image recognition technology provider Trax said on Wednesday it had raised $640 million in new capital in a funding round led by SoftBank Group Corp s Vision Fund 2 and BlackRock Inc.
The funding round, the biggest in Trax s history, also drew new investors such as Canadian pension fund Ontario Municipal Employees Retirement System and venture capital firm Sony Innovation Fund.
The statement did not provide details on the valuation at which the new funds were raised.
Trax s technology helps track products in stores and provides shelf management and analytics. Customers include Coca-Cola, Nestle, Unilever and Heineken, the company s website showed.
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The Ontario Teachers’ Pension Plan is reporting a total-fund net return of 8.6 per cent for 2020, a year which has generated mixed financial results for Canada’s major pensions due to the impact of the coronavirus pandemic.
The pension plan earned $18 billion in investment income in 2020 and its net assets reached $221.2 billion as at Dec. 31, 2020, a $13.8-billion increase from a year earlier, according to a press release. As of Jan. 1, 2021, the plan was fully funded for an eighth consecutive year with a funding ratio of 103 per cent and a preliminary surplus of $8.5 billion using prudent assumptions, with 100 per cent-inflation protection being provided on all pensions.