Tandem Expansion, a private investment firm focused on growth capital for high-potential Canadian technology companies, announced a $300m initial closing for its Tandem Expansion Fund I, L.P.
The vehicle, which aims to support high-potential Canadian technology companies, received investments from a number of public, private and institutional investors, including the Business Development Bank of Canada (BDC), Export Development Canada (EDC) and Teralys Capital, a private technology-focused fund of funds.
BDC contributed $80m, while Teralys and EDC each committed $75m to the fund.
In addition, significant investments were made by the principals of Tandem Expansion alongside the Caisse de dépôt et placement du Québec and the B.C. Renaissance Capital Fund.