On November 26, 2009, Tandem Expansion Fund I, L.P. (the "Fund"), a Québec limited partnership founded by Charles Sirois and Brent Belzberg, completed an initial private placement offering of $300 million of Class A Units to BDC Capital Inc., Export Development Canada, Teralys Capital Fund of Funds, L.P., Caisse de dépôt et placement du Québec, B.C. Renaissance Capital Fund Ltd., Télésystème Ltée and Brentsi Investments Inc., a corporation controlled by Charles Sirois and Brent Belzberg.
The Fund, focussed on late stage venture financing, has been formed to make significant minority investments in equity, equity-related and debt securities of primarily Canadian growth businesses in the sectors of information technology, communications, clean technologies, energy and resource technologies, advanced materials, technological innovations in traditional industries and life sciences.
The Fund, the General Partner and Brentsi Investments Inc. were represented by Michel Cordeau, Vice-President legal services of Télésystème Ltée and by Fasken Martineau with a team that included Louis Séguin, Robert Paré and Pierre-Etienne Simard.