Investment builds on initial $100 million funding in 2021
Caisse de dépôt et placement du Québec (CDPQ) has invested an additional $136 million to AppDirect, a B2B subscription commerce platform in North America, for its AppDirect Capital Invest program. The investment adds to the initial $100 million the pension giant supplied the platform back in 2021.
“CDPQ and AppDirect have an established track record of working together, and this new investment further solidifies both companies’ commitment to the growth and transformation of AppDirect channel partners and technology advisors,” said Nicolas Desmarais, chairman and CEO at AppDirect.
The AppDirect Capital Invest program supports technology advisors through combining upfront, non-restrictive capital with its AppDirect Marketplace, which allows them to use the capital to scale, innovate, retain top talent, or make outside investments while still fully owning their businesses.
“Since our initial financing in 2021, AppDirect has demonstrated their ability to accelerate the connectivity and competitiveness of today’s businesses,” said Marc Cormier, executive vice president and head of fixed income at CDPQ.
“As part of our partnership, this repeat investment continues to facilitate the delivery of critical solutions for the digital economy, while generating stable returns for our clients,” he added.
Prior to their investment to the lending program in 2021, CDPQ led AppDirect’s financing in late 2020 amounting to approximately $250 million and had reportedly reached a post-money valuation worth more than $2 billion, according to an article by BetaKit.
