Canada’s sovereign wealth fund to start its retail offering in 2027
Financial Post · Bloomberg News ·
The Canada Strong Fund will co-invest in projects the federal government is already involved in and also have the flexibility to buy shares in 'high-potential companies'
Canada’s government plans to launch new, guaranteed securities for investors early next year to seed a sovereign wealth fund, which will be able to use the money to buy equity stakes in companies including technology firms.
The sovereign vehicle, called the Canada Strong Fund, will co-invest in projects the federal government is already involved in, such as the buildout of electrical generation capacity or other energy infrastructure. But the fund will also have the flexibility to buy shares in “high-potential companies” in tech, artificial intelligence and other sectors, as long as they’re Canadian, according to a document released by the government Thursday.
Prime Minister Mark Carney announced the wealth fund in April but gave few details on how it would work. Finance Minister François-Philippe Champagne’s budget on Thursday says more about the vehicle, which will have a Canada-only investment mandate.
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