On March 5, 2024, Canada Growth Fund Inc. (CGF) invested C$50M in Idealist Climate Impact Fund LP, managed by Idealist Capital, marking its first investment in Quebec and focusing on companies facilitating the energy transition. This move aligns with CGF’s strategy to support growth-stage cleantech companies in Canada, addressing the challenge of limited capital for commercialization and scale-up in the Canadian market. CGF aims to bridge the funding gap, enhance access to capital, and promote ESG practices within the sector. Idealist Capital, with a history of cleantech investment, aligns with CGF’s objectives, focusing on decarbonization, electrification, and promoting a circular economy. This partnership is set to expedite funding for large capital rounds in the energy transition space, benefiting Canadian entrepreneurs and cleantech innovation. CGF’s activity, leveraging PSP Investments' processes, reflects its commitment to catalyzing growth in Canada’s cleantech landscape, following investments in geothermal and carbon capture projects.