Siparex, Desjardins hold Transatlantic Fund first close

Francesca Veronesi
07 June 2018

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Siparex and Desjardins Capital have held a first close on €75m for their co-managed Transatlantic Fund, having launched the fund in October 2017.

The vehicle is managed by a bi-cultural team, with professionals in both France and Quebec.

Canada–based Desjardins Capital (previously Desjardins Venture Capital) is an investment division of asset manager Desjardins Group. Desjardins Capital has around $2bn in assets under management.

Current economic conditions are favourable to the creation of the fund, considering that the free trade agreement between Canada and Europe has been provisionally in force since September 2017.

The fund's launch was announced at the French embassy in Ottawa as part of French president Emmanuel Macron's visit to Canada.

Investors
BPI France, Capital Régional et Coopératif Desjardins (CRCD) and Export Development Canada have made commitments to the vehicle.

Investments
The fund will target France- and Quebec-based SMEs, helping French businesses to penetrate the North American market, starting in Quebec, and helping Quebec-based businesses move into the European market via France.

People
Desjardins Group – Guy Cormier (president, CEO); Luc Ménard (COO).
Export Development Canada – Benoit Daignault (president).
BPI France – Nicolas Dufourcq (general manager).
Siparex Group – Bertrand Rambaud (president).