Name

Canada Growth Fund

Legal name

Canada Growth Fund Inc.

Website

https://cdev.gc.ca

Company type

Private

Founded year

2023

Operating status

Operating

Ownership category

akta.pro rank

Product category

Public investment fund

NAICS

Other Investment Pools and Funds (5259), Funds, Trusts, and Other Financial Vehicles (525), Public Finance Activities (92113)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Development Finance & Blended Finance Facilities (BPADAOAD)

akta.pro secondary industries

Impact Investment & Development Investment Funds (BPADACAO), Climate Finance Funds & Green Investment Facilities (BPADACAH), Development Finance, Guarantees & Blended Finance Programs (BPADABAM), Infrastructure & Project Finance Development Banks (FSABAKAD)

Keywords

• Public investment fund
• Clean energy finance
• Critical minerals investment
• Decarbonization capital
• Infrastructure project financing

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others, Technology or R&D

Revenue model

1. Investment Returns: The fund generates returns through equity investments, convertible notes, and debt instruments in Canadian projects across critical minerals, clean energy, and industrial decarbonization. CGF operates under a fiscal-neutral mandate to accelerate economic growth while reducing emissions.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Canada Growth Fund is a federal Crown corporation investment vehicle that deploys public capital through equity investments, convertible notes, and senior debt facilities into large-scale Canadian projects in critical minerals, clean energy, and industrial decarbonization. It is managed at arm's length from government by PSP Investments and has committed nearly $5 billion across 18 transactions to crowd-in private investment toward strategically important national projects.

Product overview

Canada Growth Fund Inc. (CGF) is a Canadian federal Crown corporation investment fund, managed at arm's length from government by PSP Investments. Rather than a unified software product, CGF operates as a diversified investment vehicle that provides equity, debt, and hybrid financing instruments to accelerate economic growth and emissions reductions in strategic Canadian sectors. The fund's portfolio spans critical minerals (graphite, lithium, nickel, rare earths), clean energy (small modular reactors, geothermal, compressed air energy storage), industrial decarbonization (carbon capture and storage), and sustainable agriculture. CGF has completed 18 transactions and committed nearly $5 billion, using public capital to crowd-in private investment toward economically and environmentally strategic projects of national interest.

Differentiator

Problem solved

Functional benefit

Products and services

• Darlington New Nuclear Project Investment Up to $2 billion equity investment in Ontario Power Generation's Darlington New Nuclear Project, supporting construction of four small modular reactors (SMRs) in Bowmanville, Ontario. This is CGF's flagship investment and Canada's first G7 SMR deployment.
• Nouveau Monde Graphite Investment Approximately US$82 million investment in Nouveau Monde Graphite's Matawinie Mine project in Quebec, part of a broader US$633 million financing package to establish North America's largest graphite mining operation for battery materials.
• North American Lithium Investment Up to C$145 million convertible note commitment to support Sayona Inc.'s (subsidiary of Elevra Lithium) expansion of the North American Lithium mine in Quebec, Canada's largest operating lithium mine.
• Mangrove Lithium Investment Led US$85 million structured financing round in Mangrove Lithium to support commercialization of electrochemical lithium refining technology, including a first 1,000 tonne per annum commercial facility in Delta, British Columbia.
• Thompson Nickel Mine Investment Up to US$85 million (~C$116 million) investment as part of a consortium to acquire and turnaround the Thompson Mine Complex in Manitoba from Vale Base Metals, creating Exiro Nickel Company.
• Cyclic Materials Investment
• Eavor Geothermal Investment Up to CAD 138 million (~USD 100 million) commitment to support Eavor Technologies' development and commercial deployment of closed-loop geothermal systems.
• Hydrostor Energy Storage Investment USD 50 million convertible development expenditure loan to Hydrostor for its Quinte Advanced Compressed Air Energy Storage (A-CAES) project in Ontario, with 500 MW capacity target.
• Entropy Inc. Carbon Capture Investment $200 million strategic investment in Entropy Inc., a carbon capture and storage (CCS) subsidiary of Advantage Energy Ltd., supporting commercial CCS sector expansion.
• Solugen Sustainable Agriculture Investment $20 million commitment to Solugen Global Inc., supporting production scaling of Azogen organic fertilizer derived from hog manure, enabling U.S. market penetration in organic farming.

Quantifiable outcome

• CGF has completed 18 transactions and committed nearly $5 billion in less than three years
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Clean Energy Finance Corporation: Australian government-backed clean energy investment fund that uses blended finance to crowd-in private capital into renewables, storage, and low-emissions technologies. Most direct international analog to CGF in mandate structure, governance, and capital deployment approach.
• UK Infrastructure Bank: UK government-backed infrastructure bank providing debt and equity to climate and infrastructure projects, often partnering with private co-investors. Closely comparable to CGF as a domestically-focused public investment vehicle targeting decarbonization.
• Green Investment Group (Macquarie): Macquarie's dedicated green investment platform that originated within the UK government (formerly UK Green Investment Bank) and deploys capital into renewable energy and transition infrastructure globally. Comparable to CGF's blended finance approach with private sector execution.
• Canada Infrastructure Bank: Canadian federal Crown corporation that invests in revenue-generating infrastructure projects including clean energy, public transit, and broadband. Most direct domestic peer to CGF, with frequent co-investment partnerships in projects such as Nouveau Monde Graphite.

Broad incumbents

• European Investment Bank: EU's development finance institution providing large-scale infrastructure and climate finance across member states. Operates at significantly larger scale than CGF but shares blended finance and impact investment principles.
• KfW Group: German state-owned development bank providing financing for development, environmental, and infrastructure projects globally. Comparable to CGF in development finance mandate and blended finance structures.
• Brookfield Asset Management (Climate Transition Funds): Brookfield's climate transition strategy deploys institutional capital into clean energy and decarbonization infrastructure. Frequent co-investor with CGF (notably in Entropy) and competes for similar Canadian critical minerals and clean energy opportunities.
• U.S. Department of Energy Loan Programs Office: U.S. federal loan office providing debt and loan guarantees for clean energy, advanced transportation, and critical minerals projects. Comparable to CGF as a public capital source de-risking first-of-a-kind energy infrastructure in North America.

Emerging players

• Breakthrough Energy Ventures: Bill Gates-backed venture fund investing in early-stage clean energy technologies. Frequently co-invests with CGF (Mangrove Lithium) and shares a focus on critical minerals and energy transition, though at earlier stage and venture scale.

Regional players

• BNDES: Brazilian national development bank providing long-term financing for infrastructure, industrial, and environmental projects. Comparable to CGF as a state-owned development finance institution with a domestic mandate, though operating in a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Canada Growth Fund