Quebec pension giant Caisse de dépôt et placement du Québec and the Bronfman family are teaming up to invest in the tech sector in Israel.

The Caisse is joining Claridge Inc., a Montréal-based investment firm that invests on behalf of the Bronfmans, to launch a new firm to invest in Israel’s civil technology and innovation sectors.

The new Tel Aviv-based firm, Claridge CDPQ Israel, will be headed by an Israeli, Oded Tal, who was chief investment officer at Claridge from 2000 to 2008. Tal also recently worked as head of mergers & acquisitions for Leumi Partners, the investment banking arm of the Leumi banking group.

The Caisse says that the new joint venture is part of its strategy to establish a presence in high-growth countries with partners who have an in-depth knowledge of the market.

“Our participation in Claridge CDPQ Israel gives la Caisse access to a globally-recognized hub for innovation. Such an environment will offer higher returns, greatly benefiting our depositors,” said Andreas Beroutsos, executive vice president of private equity and infrastructure at the Caisse.

“Through the new firm, la Caisse can also give Quebec-based companies access to these innovative Israeli technologies, ultimately serving Quebec’s economic development,” he added.