HomeInsuranceCanada's 2nd Largest Pension Fund Embroiled in Celsius Collapse

Canada’s 2nd Largest Pension Fund Embroiled in Celsius Collapse

The collapse of Celsius continues to ripple throughout the world of finance. 

Canada’s second-biggest pension and insurance fund the Caisse de Dépôt invested $150 million into Celsius nine months before its Chapter 11 bankruptcy. Now, the fund may be left empty-handed.

The Caisse de Dépôt—which registered net assets of $419.8 billion at the end of 2021—was one of two lead investors alongside venture capital firm WestCap in Celsius’ $400 million Series B funding round back in October 2021, a raise that saw the crypto lender top a $3 billion valuation. 

“This is something that we take very seriously and we will provide further comment at the appropriate moment. Celsius is currently engaged in a complex process that will take time to resolve,” a spokesperson from the Caisse told Bloomberg in July.

The pension fund is expected to give its mid-year report, outlining…

Read more at decrypt.co

- Advertisment -

Most Popular