Fondaction
2175 boul. de Maisonneuve Est, Suite 103, Montréal, Québec, H2K 4S3, Canada
Overview
Since its creation in 1996, Fondaction has been based on the belief that it is not only possible to do things differently in the financial and business world, it is a necessity. Fondaction helps Québecers prepare for retirement by offering affordable retirement savings to everyone. The savings collected are invested in companies across Québec. This way, Fondaction helps create and maintain quality jobs, contributing to a stronger, more equitable and greener economy. Created in 1996, Fondaction is a labour-sponsored fund with assets in excess of one billion dollars collected as retirement savings from more than 131,000 shareholders. Fondaction's direct investments and those made through investment funds support the development of more than 1 050 SMEs in different lines of business, in large part involved in various components of the social economy. Fondaction has always been resolutely committed to socially responsible finance, from the moment it was created. The principles of sustainable development are integrated in everything it does. Whether investing in businesses directly or in capital markets, Fondaction always applies the principles of responsible investment to the money entrusted by its savers. Fondaction was one of the first institutions in Québec to make accountability reports an obligation in an effort to improve its practices and contribute to moving sustainable development forward in Québec. It produced its first report on sustainable development in 2006 in accordance with the international standards of the Global Reporting Initiative (GRI), the highest standards of precision and transparency in economic, social and environmental accountability. In 2010 and 2012, Fondaction remained at the forefront with its 3rd and 4th sustainable development reports, having them reviewed by an independent firm and achieving an application level of A+ from the GRI. Fondaction is the only financial institution in Québec to achieve this level. In 2014, Fondaction tabled its 5th sustainable development report, produced in accordance with the latest GRI guidelines, the G4. Fondaction also opted for Comprehensive compliance, becoming the 1st financial institution in North America and the 9th in the world to voluntarily adhere to these requirements.
- Total investments
- 22
- Lead investments
- 2
- Investments · 12mo
- 3
- Active investors
- 8
Sector focus
- Finance
- Financial Services
- Venture Capital
Investment portfolio
- Nesto
Participated · Series E · Jun 2026
Nesto is a Montreal-based fintech that provides online consumer mortgages and business financing products. The company has more than $80 billion in mortgages under administration and has done $37 billion in originations this year. It generates more than $300 million in annualized revenue and has raised $470 million in capital to date. Nesto is incorporating generative AI into internal operations and products and intends to use new funding to further that work. The firm aims to reduce mortgage underwriting times dramatically — targeting as little as two minutes from a current one-day process — while keeping decisioning auditable and overseen by human underwriters. Nesto plans to expand its business-to-business arm by offering AI-powered products to other financial institutions and is focused on the Canadian market without plans to expand to the United States.
- JetScale AI
Participated · Seed · Feb 2026
JetScale AI develops an artificial-intelligence platform that delivers instant diagnostics, prescriptive action plans, and automated remediations to cut cloud spending, improve reliability, and lessen the environmental footprint of over-provisioned resources. By replacing weeks of manual FinOps work with minutes of automated analysis, the product targets enterprises whose cloud bills are surging, especially as AI workloads grow. Initial customer adoption and an oversubscribed seed round validate market demand, and the company plans to accelerate innovation, expand its team, and scale deployment across North America and Europe. Co-founders Mehdi Merai and Gabriel De Lisi previously built and exited machine-learning company Dataperformers, bringing seasoned AI and go-to-market expertise. JetScale AI was co-created with Diagram’s venture studio and is headquartered in Montréal. Financially, the company has secured $5.4 million in seed capital to fund its near-term growth initiatives; no revenue or user metrics were disclosed in the article.
- Mechasys
Participated · Series A · Aug 2025
Mechasys produces a patented XR Projector — a laser projector that projects construction layout plans with millimeter accuracy to enhance site efficiency. The company was founded in 2018 and is based in Montréal, where it plans to continue manufacturing despite tariff-related challenges. Its technology is already deployed at roughly 200 construction sites globally. Mechasys expects about $2.5 million in sales this year and projects $13 million by 2026. The startup intends to use new funding to scale production, triple its workforce, and expand into international markets. The product aims to streamline construction processes by improving layout accuracy and reducing onsite rework. Mechasys develops a projected-reality laser layout solution used on construction sites to improve accuracy and usability. The company reports more than 50 projects across North America, Europe, and Asia. It recently secured new funding led by Great Wave Ventures (formerly Agya Ventures) alongside corporate investors. Named corporate investors include the TOKYU CONSTRUCTION Co., Ltd. Innovation Fund (managed by Global Brain Corporation), Toda Corporation, and Ogawa Denki, plus existing backers. A consortium of general contractors in Japan is investing in Mechasys’s North American technology to help address labor shortages. The company says the strategic backing will enhance construction speed and operational efficiency.
- Aquatech BM
Participated · Equity · Jan 2024
Aquatech BM designs and manufactures commercial and industrial sterilizers and multifunctional bottle washers, supplying customers in over 80 countries. The company unveiled a compact multifunction bottle washer aimed at businesses with modest washing capacities and space constraints. Since Félix Bégin took over in 2019, Aquatech BM has tripled its worldwide sales volume. The firm serves sectors including brewing, wine, food, hospitality, dairy, pharmaceutical and research laboratories. In the short term it plans to develop green partnerships with Quebec industry sectors affected by deposit-system reforms (such as microbreweries) and to pursue international expansion. The recent financing will support continued investment in equipment, a new production line, and the company's commitment to sustainable development and the circular economy.
- Recharge Véhicule Électrique inc.
Participated · Equity · Nov 2023
Founded in 2015 and based in Laval, Quebec, RVE develops patented hardware and software energy management systems (the DCC and SMP product lines) compatible with all electric vehicles and charging stations. The company also operates murbly.com, an information and consulting platform to help condo and multi-family owners implement charging infrastructure. RVE says its technologies optimize a home's electrical capacity without upgrades and, for multi-unit buildings, can attribute charging to individual meters for simplified billing. The firm serves tens of thousands of electric-vehicle users across Canada and the United States and counts more than twenty North American electrical distributors among its partners, including Sonepar group (Lumen and Gescan), City Electric Supply and EECOL Electric. RVE positions its solutions to democratize home charging, move charging to off-peak hours and ultimately free up 4,000 megawatts of grid capacity.