Desmarais-Backed Venture Firm Gets Money for Climate Tech Fund
- Diagram seeks out digital businesses that help curb emissions
- Firm receives commitments from Quebec investment arm, Mavrik
Paul Desmarais III, chief executive officer of Sagard
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
A venture firm backed by Power Corp. of Canada closed a round for a new climate-technology fund, tapping Quebec institutions as it raised about $37 million.
Montreal-based Diagram Ventures will seek out investments in early-stage companies with promising technology to reduce emissions. The company operates as part as Power’s alternative investment platform, Sagard Holdings Inc., alongside numerous other entities. Power’s major shareholder is Canada’s billionaire Desmarais family.