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The Caisse de dépôt et placement du Québec and Agropur Cooperative are establishing a joint investment platform for businesses in the dairy industry.

Valued at $40 million, the platform will be equally funded by the two organizations and will be investing in innovative companies that specialize in dairy-related products and technologies. According to a press release, it will focus on growing companies with the potential for high financial performance, demonstrate innovation as a key element of their business model and have strong management teams.

Read: Caisse leads $20 million financing for Montreal clothing retailer

“La Caisse is looking to play a role in transforming businesses operating in traditional industries by supporting those at the forefront of innovation,” said Christian Dubé, the Caisse’s executive vice-president for Quebec, in the release. “This platform will enable companies serving the agri-food sector — a key driver of the Quebec economy — to obtain the funding necessary to stay at the cutting edge.

“We are pleased to invest alongside Agropur, a major industry player that has successfully demonstrated its expertise in the field over the years.”

According to the release, the partnership will allow the Caisse to use Agropur’s operational knowledge of the agri-food sector, while Agropur will make use of the Caisse’s financial expertise in supporting small- and medium-sized enterprises.

“We are happy to partner with la Caisse on this initiative, which is the only one of its kind in North America,” said Roger Coallier, Agropur’s chief executive officer.

Read: Caisse takes stake in French airport ground support company

Copyright © 2022 Transcontinental Media G.P. Originally published on benefitscanada.com

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