The Globe and Mail reports in its Wednesday edition that the Caisse de depot et placement du Quebec is making another nine-figure bet on a homegrown company, investing $125-million in Montreal software company GSoft. The Globe's Sean Silcoff writes that the Caisse is taking an undisclosed interest in the bootstrapped company, created 17 years ago by a trio of 20-year-olds who have never raised outside financing and still run the profitable company, including chief executive officer Simon de Baene. GSoft this year surpassed the $100-million (U.S.) mark in annualized recurring revenue and is on track to repeat last year's sales growth rate of nearly 30 per cent. The Caisse's Kim Thomassin says her organization had tracked GSoft for years and that the investment is similar to other $100-million-plus commitments it has made in several Quebec technology companies, including Lightspeed Commerce, Nuvei, Talent.com and Previan Technologies.
The Caisse has also been a long-term investor in giant acquisitive Quebec companies such as Alimentation Couche-Tard, WSP Global and CGI in accordance with its dual, provincial government mandate to both seek investment returns for depositors and support the Quebec economy.
© 2024 Canjex Publishing Ltd. All rights reserved.