Canada Growth Fund commits up to $50M to Longbow Energy Transition Fund II
- Editor
- Feb 6
- 1 min read
What's Happening: Canada Growth Fund Inc. (CGF) has announced a commitment of up to $50 million to Longbow Capital Inc.'s Energy Transition Fund II. This investment marks CGF's tenth since its launch in June 2023 and aligns with its mandate to support the growth of Canadian cleantech companies and managers.
The Key Moves:
CGF commits up to $50 million to Longbow Energy Transition Fund II
Investment joins existing commitments from BDC Capital and TD Bank Group
Fund focuses on businesses benefiting from energy transition momentum
By The Numbers :
CGF's total fund size: $15 billion
Longbow's assets under administration: Approximately $1.5 billion
CGF's investment count since June 2023 launch: 10
Key Quotes:
"CGF is pleased to deliver continued progress against its mandate and to provide additional investable capital to support the growth of promising Canadian cleantech companies and managers," - Yannick Beaudoin, President and CEO of Canada Growth Fund Investment Management Inc.
"The shift in how energy is produced, consumed, and financed is transformative, and it presents a significant long-term investment opportunity," - Tyson Birchall, Managing Director at Longbow
*KQ3*
The Bottom Line: Canada Growth Fund's commitment to Longbow Energy Transition Fund II demonstrates its ongoing efforts to support Canadian cleantech companies and attract more sophisticated investors to the sector. This investment aligns with CGF's strategy of leveraging expertise and providing capital to accelerate growth in targeted companies while encouraging best-in-class sustainability practices.
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