Investment

In accordance with its mission, Desjardins has been very closely tied to economic growth in Québec.

From 1963, the Group invested more than $5 million in the Société générale de financement, which was a State corporation set up one year earlier by the Québec government to contribute to the development of our economy. This commitment by the Group grew until 1970, and was phased out in 1972.

Société d'investissement Desjardins

On December 23, 1971, the Québec National Assembly adopted a law enabling the creation of the Société d'investissement Desjardins (SID), whose mandate was to invest in promising companies and grant them loans.

SID began its activities in 1974. Starting the following year, it decided to separate its investment activities and credit functions. It therefore created Profin, an industrial and commercial loan corporation which, in July 1976, became known as Crédit industriel Desjardins (Desjardins Industrial Credit).

In 1977, SID acquired 49.9% of the shares in Sico, which it held until 1985. In 1977, it also invested in Canam-Manac and partnered with several companies such as Group Paul Masson, Nordair, Venmar, the La Vérandrye Management Corporation, to name a few.

In 1980, the Caisse de dépôt et placement du Québec invested $10 million in SID by means of the acquisition of 15% of its common shares. This investment was bought out by Desjardins in 1997.

In 1987, SID associated with business people to create the Société d'investissement Tremplin 2000, with a mission to support small companies needing development capital. This corporation continued its activities until 1993.

Desjardins Venture Capital

Already associated to no less than 90 companies, SID became Desjardins Venture Capital (ID) in 1994. The company reoriented its activities in order to promote four growing sectors of the new economy: software, telecommunications, multimedia and heath care.

Desjardins Venture Capital therefore had commitments in companies such as Pixcom, Purkinje, Medisys, among others.

Regional Funds

Starting in 1973, the Union régionale de Rimouski (which later became the Fédération des caisses populaires Desjardins du Bas Saint-Laurent) launched a $250,000 regional development fund.

Other federations, groups of caisses and caisses took similar initiatives, building local or regional funds.

In 1997, ID created regional investment funds in its turn, in collaboration with the federations and affiliated caisses. Two years later, five funds were already implemented.

Other initiatives

In 1970, the Société de fiducie du Québec (which is today called Fiducie Desjardins or Desjardins Trust) acquired on behalf of the Société générale de financement, 83% of Vachon's shares in order to avoid the sale of this company from the Beauce region to U.S. interests.

The circumstances were such that Desjardins remained the owner of Vachon, which was to become Culinar. Desjardins retained its participation in the company until 1999.

Once again, to contribute to our economy and preserve our local businesses, in 1990 the Fédération des caisses populaires Desjardins de Montréal et de l'Ouest-du-Québec acquired shares in the Expos Montreal baseball club.

In 1992, after having promoted the idea of "buy locally" for several years, the Group sponsored the launch of Qualité-Québec, in favour of products made in Québec.