Canada Growth Fund
VC Fund
Canada Growth Fund is a VC fund focused on Mining and Natural Resources. Canada Growth Fund stood up as a subsidiary of Canada Development Investment Corporation (“CDEV”) in December 2022. CGF has been formed for the purpose of making investments that catalyze substantial private sector investment in Canadian businesses and projects to help transform and grow Canada’s economy at speed and scale to net zero.
- Total investments:
- 12
- Last investment:
- Lead investor:
- 67%
Last updated:
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Industries Canada Growth Fund invests in
Stages Canada Growth Fund invests in
Countries Canada Growth Fund invests in
Investment Focus
Industry
- Mining 5 (42%)
- Natural Resources 4 (33%)
- Energy 3 (25%)
- Mineral 3 (25%)
- CleanTech 3 (25%)
Stage
- Post-IPO Equity 3 (25%)
- Post-IPO Debt 2 (17%)
- Venture - Series Unknown 2 (17%)
- Series B 1 (8%)
- Debt Financing 1 (8%)
Country
- Canada 9 (75%)
- Australia 1 (8%)
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| Kanin Energy develops projects for heavy industry to help them monetize their waste heat and decarbonize their operations | $100M / Venture - Series Unknown / Sep 16, 2026 | ||
| Generation Mining is a mineral development company that focuses on zinc and molybdenum projects in Canada. It completed a Preliminary Economic Assessment in early 2020 and plans to follow up with a Definitive Feasibility Study beginning in Q1, 2020. | $172.7M / Post-IPO Equity / Sep 14, 2026 | ||
| Generation Mining is a mineral development company that focuses on zinc and molybdenum projects in Canada. It completed a Preliminary Economic Assessment in early 2020 and plans to follow up with a Definitive Feasibility Study beginning in Q1, 2020. | $71.9M / Post-IPO Debt / Sep 14, 2026 | ||
| Teck has grown over more than 100 years to become a leading diversified natural resource company, committed to responsible mining and mineral development. They have helped to build communities, create jobs and drive innovation that makes their industry more sustainable. Today, they continue their focus on providing products that are critical tobuilding a better quality of life for people around the globe. | $400M / Post-IPO Equity / Jul 07, 2026 | ||
| Sayona is a manufacturer of clean-energy batteries. They provide products that include mining, resources, lithium, and battery minerals. The company is working on the advanced stage Authier lithium project. Sayona is dedicated to boosting the local economy and job opportunities. | $105.6M / Post-IPO Debt / May 12, 2026 | ||
| Exiro Nickel Company is a mining firm acquiring and operating the historic Thompson nickel operations. | $204.5M / Corporate Round / Feb 19, 2026 | ||
| Mangrove Lithium, a Vancouver-based company, has developed a breakthrough platform for the most cost-effective production of battery-grade lithium hydroxide and carbonate from diverse input streams and assets. Mangrove’s modular solution can be scaled to any capacity and co-located with upstream lithium producers or cathode and cell manufacturers.The platform technology is also being commercialized for the conversion of waste brines to chemicals and desalinated water. | $85M / Debt Financing / Jan 15, 2026 | ||
| Ontario Power Generation they invest in local economies to maintain a sophisticated energy fleet with local, environmental, and indigenous groups. | $2.1B / Private Equity / Oct 23, 2025 | ||
| Eavor is a technology based energy company that provides a clean, carbon-neutral, scalable, baseload power solution. The company's solution represents a truly scalable form of clean baseload power. They achieve this by mitigating or eliminating many of the issues that have hindered traditional geothermal solutions. The system is made withexisting commercial componentry configured in a completely novel way. They use the most recent advances in drilling techniques and merge them with the latest heat to power generation technology to create a scalable, steady, and reliable source of green power. | $64.9M / Venture - Series Unknown / Jun 03, 2025 | ||
| Nouveau Monde is developing its operations with the highest environmental standards in one of the most advanced mining friendly jurisdictions in the world in Québec, Canada; they’re targeting the growing North-American lithium-ion battery market. Local, green, and safe supply of natural graphite produced with a low environmental footprint is,according to us, of added value to the North-American lithium-ion battery manufacturers. | $50M / Post-IPO Equity / Dec 17, 2024 | ||
| See all 12 investments → | |||
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FAQ
What does Canada Growth Fund invest in?
Canada Growth Fund invests primarily in Mining, Natural Resources and Energy startups, most often at Post-IPO Equity and Post-IPO Debt stage. Most of the 12 investments tracked by Shizune back companies in Canada. The Investment Focus section breaks down every industry, stage and country in the portfolio.
When did Canada Growth Fund last invest?
The most recent investment recorded for Canada Growth Fund closed in Sep 2026. Shizune tracks 12 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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