LP profile

La Caisse

Pension fund · Founded 1965 · Montreal, Canada

#9 LP Ranking

Canadian fund management company focused on retirement plans and insurance policies

Website ↗LinkedIn ↗X / Twitter ↗

274 VC firms backed

$324B AUM

01 · Background

Who La Caisse is.

Historical Background: Caisse de dépôt et placement du Québec (CDPQ) was established in 1965 by an act of the National Assembly of Québec. Its initial mandate was to manage the funds of the Québec Pension Plan. In 2016, its subsidiary CDPQ Infra proposed the Réseau express métropolitain (REM), a 67-km automated light metro network in the Greater Montréal area, marking a significant move into large-scale infrastructure development.
Source of Capital: CDPQ is an institutional investor that manages the funds of several public and parapublic pension plans and insurance programs in Québec. It pools the capital of 42 depositor groups, investing it to generate returns for the beneficiaries of these plans.
Major Events: The organization has recently rebranded and now operates under the name La Caisse. Coinciding with the rebranding, the fund's real estate portfolio, Ivanhoé Cambridge, will also operate under the La Caisse name as part of a restructuring.
Allocation Strategy: The firm invests across a wide range of asset classes, including public equity, private equity, infrastructure, real estate, and private debt. It maintains a global presence, with activities in major financial markets around the world. The stated investment philosophy is to act as a constructive source of capital to generate sustainable, long-term returns.

Sources

02 · Fund commitments

The funds La Caisse backs.

La Caisse is a limited partner in 274 funds. 27 of them place in the Power Law Investor Ranking; those lead, best-ranked first.

Lightspeed Venture Partners

United States

#7 Power Law

New Enterprise Associates

Tiger Global Management

Accession Capital Partners

Austria

Advantech Capital

China

Advent Venture Partners

United Kingdom

Aermont Capital

United Kingdom

Affinity Equity Partners

China

AMP Capital

Australia

AppDirect Capital

ArchiMed

France

Arcmont Asset Management

United Kingdom

Ardian

France

Argos Wityu

France

Arle Capital Partners

United Kingdom

Asian Development Bank

Philippines

Auriga Partners

France

Baring Private Equity Asia

China

Baring Vostok Capital Partners

Russia

BC Partners

United Kingdom

Boyu Capital

China

Chrys Capital

India

CITIC Capital

Hong Kong

Davinci Advisors

Japan

MKS Consulting

Sagard

Vintage Investment Partners

Israel

03 · Exits

La Caisse’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from La Caisse’s transaction record.

CoreWeave

$23B IPO · 2025

Now $72BHosting

Adevinta

$17B acquisition · 2023

Now $13BEnterprise Software

Gildan

acquisition · 2026

Now $15BFashion

Innergex

$10B acquisition · 2025

Now $6.9BEnergy

Boralex

$9.0B acquisition · 2026

Now $6.0BEnergy

Sedgwick

$6.7B acquisition · 2018

Entered Series B+Fintech

AvidXchange

$4.9B IPO · 2021

Entered Series B+Now $1.7BFintech

Nuvei

IPO · 2020

Entered Series ANow $4.8BFintech

Bird

$2.3B IPO · 2021

Entered Series B+Now $145MTransportation

Sebia

$2.2B acquisition · 2017

Entered Series B+Health

Benson Hill

$2.0B IPO · 2021

Entered Series B+Now $80MFood

Inigo Insurance

$1.7B acquisition · 2025

Entered Series B+Fintech

04 · Direct investments

The companies La Caisse backs directly.

La Caisse holds 82 companies directly, separate from the funds it commits to as a limited partner. Broken down by headquarters country, sector, entry stage and current growth stage. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount

Canada83
USA43
UK9
India8
France4
Australia3
Germany3
Mexico3
Brazil2
Spain2
Belgium1
China1

By sectorCount

Energy31
Enterprise Software23
Fintech19
Real Estate18
Transportation17
Health14
Security9
Telecom9
Food7
Hosting6
Jobs Recruitment6
Media5

By stage enteredCount

Series B+81
Series A13
Seed1

By growth stageCount

Late Growth60
Mature41
Breakout Stage40
Early Growth28

05 · Portfolio market map

Inside La Caisse’s portfolio.

The 60 highest-funded portfolio companies, of 82 tracked.

Vantage Data Centers

Hosting · Decacorn

$15B

Northvolt

Energy

FNZ

Fintech · Decacorn

$20B

Intact Financial Corporation

Fintech · Decacorn

$40B

Cologix Holdings

Hosting

The Access Group

Enterprise Software · Decacorn

Celsius Network

Fintech

Agropur

Food

Real Estate · Unicorn

Real Estate · Unicorn

Eddyfi

Engineering and Manufacturing Equipment · Unicorn

$1.4B

Hy2gen

Energy

$207M

AlayaCare

Health

$660M

Element AI

Enterprise Software

$477M

SURA Asset Management

Fintech

Nesto

Fintech · Unicorn

$1.1B

eSentire

Security · Unicorn

$1.1B

Surf Internet

Telecom

CleverTap

Marketing

$775M

ecobee

Energy

$770M

Talent

Jobs Recruitment

$480M

ONTO

Transportation

$438M

FLO

Energy

$299M

Plusgrade

Travel

$452M

Onapsis

Security

$220M

Breather

Real Estate

$180M

TVS Supply Chain Solutions

Transportation

$106M

IEX Group

Fintech

$300M

Tishman Speyer

Fintech

$400M

Top Aces

Event Tech

Inotek Pharmaceuticals

Health

$94M

Workleap

Jobs Recruitment

Sama

Robotics

$280M

Cytochroma

Health

$180M

Triotech

Media

Dialogue

Health

$201M

OZ Communications

Telecom

$40M

Sentera

Food

$38M

Wizeline

Mexico

$172M

Bandsintown Group

Music

$40M

Azure Power

Energy · Unicorn

$1.7B

TVS Logistics Services

Event Tech

Novisto

Enterprise Software

$111M

Neuvoo

Jobs Recruitment

TrackTik

Security

$180M

Syngene

Health · Unicorn

$2.4B

Cogeco

Telecom · Unicorn

$5.0B

BTR Energy

Energy

$182M

06 · Portfolio founders

Where La Caisse’s portfolio founders come from.

110 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount