The Ontario Municipal Employees Retirement System’s venture capital arm is leaving the region after entering the market with a €300-million fund in 2019. A spokesperson for the pension plan told Bloomberg that its team has decided to focus on North America. (Bloomberg)
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The Ontario Municipal Employees Retirement System’s venture capital arm is leaving the region after entering the market with a €300-million fund in 2019. A spokesperson for the pension plan told Bloomberg that its team has decided to focus on North America. (Bloomberg)
Talking point: European startups had become an increasing focus for OMERS Ventures in recent years, with the firm allocating 40 per cent of its US$750-million 2020 fund to the region. The decision to end business in the region comes amid particularly slow investment activity. Bloomberg reported in April that European venture capital funds were on pace for their smallest fundraising year since 2015, thanks to a weak stock market and rising interest rates. VC deals have continued to decline since then.
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