Power subsidiary Sagard Holdings is investing US$75 million in the fund, called Sagard Healthcare Royalty Partners. The firm declined to disclose who any of the other investors are. The fund will invest in biopharmaceutical firms and seek to make money off royalties from medical devices and pharmaceuticals. (The Logic)

Talking point: This is part of a broader diversification strategy by Power that includes investments in many of the country’s most prominent fintechs. Last month, Power co-CEOs Paul Desmarais Jr. and André Desmarais announced they were stepping down, and the firm is looking at removing its subsidiary, Power Financial, from the TSX. Power will have plenty of competition in the healthtech space. In November 2019, Montreal-based Amplitude Ventures announced a $200-million fund. The federal government is also investing $20 million in the space. Sagard Healthcare Royalty Partners has made one investment so far at just US$31 million, so it’s got plenty of money still at play, and is also keeping the fund open through 2020 for any new investors that want to participate.