Fondaction

Established in 1996 through an initiative by the Confédération des syndicats nationaux, Fondaction is a Montréal-based labour-sponsored investment fund that provides capital to Quebec SMEs, cooperatives, social economy enterprises, and environmentally focused businesses. The firm's executive leadership team currently features incoming chief executive officer Stéphan Morency, retiring chief executive Geneviève Morin, and Kimball Lewis. Operating with a workforce of approximately 280 employees, the organization manages $3.77 billion in net assets as of May 2024 and generates $560.8 million in annual revenue. The institution operates by mobilizing tax-advantaged savings from tens of thousands of individual contributors to generate financial returns alongside measurable social and environmental benefits. By targeting regional economic development, the fund structures investments that help maintain jobs, reduce inequalities, combat climate change, and support clean energy investors like CoPower with a $300,000 capital commitment.