Canada Growth Fund Inc.

To keep Canada competitive on the global stage and to ensure it continues to be a leading destination for investment, Canada Growth Fund Inc. (CGF) was established to drive innovation across new and traditional sectors of Canada’s industrial base.

About the company

Canada Growth Fund Inc. (CGF) has the mandate to build a portfolio of investments that unlocks private sector investment in Canadian businesses and projects to help grow Canada’s economy at speed and scale on the path to emissions reductions. A $15-billion fund, it uses investment instruments that absorb certain risks to catalyze private investment in low-carbon projects, technologies, businesses, and supply chains.

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Our Responsibilities

Canada Growth Fund Inc. (CGF) is a wholly owned subsidiary of Canada Development Investment Corporation, established in 2023 to help catalyze private sector investment in Canada’s clean economy.

As the parent company of CGF, CDEV, through the CGF Board, ensures oversight and compliance, but is not directly involved in CGF’s investment activities. CDEV is also responsible for making appointments to the Board of Directors of CGF, including the Chair.

CGF engaged the services and expertise of PSP Investments in the implementation of the CGF mandate. As a result, PSP Investments incorporated Canada Growth Fund Investment Management Inc. (CGFIM) as its wholly owned subsidiary to act as the independent and exclusive investment manager of CGF and provide the full suite of investment management services to CGF.

CGFIM executes in a selective and disciplined manner, preserving capital on a portfolio basis to allow reinvestment and a self-funded vehicle over time. This structure allows Canada Growth Fund to deploy capital at speed and scale while maintaining independence from government and strong governance oversight.

Canada Growth Fund Board of Directors

Corinne Boone

Board Chair

Candace MacGibbon

Director

Elizabeth Wademan 

President and Chief Executive Officer

Sean W. Strickland 

Director

Aaron Engen

Director

Corinne Boone

Board Chair

Corinne Boone, Chair of the Board of Directors of CGF, provides leadership to the Board and supports oversight of strategy, governance, and sustainability priorities.

Ms. Boone is the Founder and Chief Executive Officer of Climate and Sustainable Innovation and a global leader in carbon finance and sustainability strategy, with more than 30 years of experience advising organizations across mining, energy, infrastructure, and financial services. She has led complex ESG and climate-focused initiatives and brings extensive board and advisory experience.

Ms. Boone holds a Master of Environmental Studies from York University and an Honours Bachelor of Arts from St. Thomas University.

Candace MacGibbon

Director

Candace MacGibbon, Director of CGF, contributes to the Board’s oversight of strategy and governance.

Ms. MacGibbon is a senior mining executive and corporate director with over 25 years of experience in the mining sector and capital markets. She is the former President and Chief Executive Officer of INV Metals Inc., where she led the company through its development and eventual acquisition. She currently serves on several corporate boards and brings deep expertise in mining, finance, and ESG.

Ms. MacGibbon is a Chartered Professional Accountant and holds the ICD.D designation.

Elizabeth Wademan 

President and Chief Executive Officer

Elizabeth Wademan, President and CEO of Canada Development Investment Corporation (CDEV), is recognized as a mobilizing leader known for her strategic clarity and action-oriented vision. She leads CDEV’s stewardship and advisory mandate, delivering financial and commercial expertise across the Government of Canada’s most complex assets.

Under her leadership, CDEV has undergone significant transformation, with substantial growth across its portfolio and capabilities. She has positioned the organization as a trusted advisor and high-impact, execution-focused partner to the federal government, delivering measurable economic value while advancing key national priorities.

Ms. Wademan brings deep private sector expertise from a distinguished career in investment banking and capital markets. Prior to joining CDEV, she was Managing Director at BMO Capital Markets, most recently serving as Head of Global Metals & Mining Equity Capital Markets, where she advised on many of the most significant and transformative transactions in the resource sector on the continent.

In addition to her executive leadership, Ms. Wademan is an experienced corporate director with extensive public company board experience. She remains actively engaged in her community and has contributed to a range of not-for-profit organizations.

Ms. Wademan holds a Bachelor of Commerce (Finance and International Business) from McGill University and is a CFA charterholder and ICD.D designee.

Sean W. Strickland 

Director

Sean W. Strickland, Director of Canada Development Investment Corporation, contributes to the Board’s oversight of strategy, governance, and stakeholder engagement.

Mr. Strickland is the Executive Director of Canada’s Building Trades Unions, representing more than 600,000 members across 14 international unions. He has extensive experience in organizational leadership, labour relations, and industry collaboration, and serves on multiple boards and advisory bodies related to the construction and energy sectors.

Mr. Strickland holds a Bachelor of Arts in Political Science from the University of Waterloo and has completed executive programs at Wilfrid Laurier University and Harvard University.

Aaron Engen

Director

Aaron Engen, Director of CGF, contributes to the Board’s oversight of strategy, governance, and investment decisions.

Mr. Engen is President and Chief Executive Officer of the Alberta Electric System Operator and has more than 30 years of experience in investment banking and law. Prior to this role, he served as Vice Chair at BMO Capital Markets, where he advised on energy infrastructure and transition-related investments across North America. Earlier in his career, he was a partner at McCarthy Tétrault specializing in corporate and securities law.

Mr. Engen holds an MBA and a Bachelor of Laws from the University of Alberta and a Bachelor of Arts and Science from the University of Lethbridge.