Montréal-based Mackinnon, Bennett & Company (MKB) has successfully closed $145 million for its third cleantech fund, with significant backing from government entities. The Canada Growth Fund (CGF) led the investment, contributing $50 million, followed by Investissement Québec and CDPQ, each investing $35 million. The Business Development Bank of Canada (BDC) also joined the funding with a $25 million contribution.
Mackinnon, Bennett & Company’s Fund III will target North American growth-stage companies that are pioneering emission-reduction technologies. The fund will focus on clean energy, mobility, and industrial innovations that contribute to a sustainable future.
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Expanding Cleantech Investments
MKB’s previous funds, also supported by BDC, CDPQ, and IQ, have targeted similar high-impact sectors. With this new fund, MKB aims to address critical capital needs in the cleantech market, particularly for Canadian ventures requiring complex financing to scale their solutions.
The company’s portfolio includes notable investments in companies like CarbiCrete, Bird, and Miovision, demonstrating its commitment to fostering technologies that reduce carbon footprints and drive innovation in the cleantech industry.
