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Ontario Teachers’ Pension Plan has made multiple investments in the San Francisco-based data analytics and AI software company. It first invested through its venture capital arm, Teachers’ Venture Growth, in 2023, when Databricks raised US$500 million, and again in last year’s US$10-billion raise. The firm also backed Databricks’s US$1-billion growth round this September. (The Logic)
Taking point: Insight Partners, Fidelity Management & Research and J.P. Morgan Asset Management are leading the deal. It values Databricks at US$134 billion, making it the world’s fifth most valuable unicorn, behind AI safety and research firm Anthropic. The investment comes as Teachers’ narrows its venture strategy, concentrating capital in a smaller number of promising later-stage technology companies where it can write larger cheques and stay invested longer.
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