Ontario Muni To Start VC Unit

Toronto-based $50.5 billion Ontario Municipal Employees Retirement System is setting up a venture capital unit.

Toronto-based $50.5 billion Ontario Municipal Employees Retirement System is setting up a venture capital unit, Pensions & Investments reports. Omers Ventures will be targeting sectors such as technology, media, telecommunications, clean technology and life-sciences in North America.

The venture capital unit, part of Omers Strategic Investment, is looking to invest nearly $171 million over the next three years. It will provide companies with seed capital worth approximately $474,000 to $1.9 million and a maximum capital of $28.5 million to encourage larger growth.

Click here for the story from Pensions & Investments.

Related