New Desjardins fund to invest $500 mln in Québec SMEs

Canadian financial cooperative Desjardins Group has unveiled a new fund to invest in Québec-based small businesses. The Desjardins Capital SME fund will be initially capitalized at about $100 million annually by Desjardins Private Wealth Management and Desjardins Capital and ultimately invest about $500 million over five years. It is expected to target equity and subordinated debt investments of $100,000 to $10 million to a range of developing Québec companies. Desjardins Capital oversees several private equity and venture capital funds, including retail fund Capital régional et coopératif Desjardins.

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