Briefing

Finance Minister Bill Morneau appoints tech investor to Canada Pension Plan Investment Board (CPPIB)

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Mark Evans is a former partner at the European arm of Benchmark Capital, a top Silicon Valley venture capital firm. He also spent 15 years at Goldman Sachs, leaving as global co-head of equity research. (The Logic)

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Talking point: Evans brings tech experience to a board with expertise in more traditional economic sectors for institutional investors, like financial services, telecommunications, agriculture and consumer goods. His background could come in handy as CPPIB gets into tech investing in a major way. In December 2018, my colleague Zane reported that the organization was planning to invest between $500 million and $1 billion in venture capital funds in North America, Europe and emerging markets. CPPIB has also made a number of direct tech investments in recent months, including a $166-million investment in Visma Group, a software company, in April, and participation in a US$11-billion buyout of Ultimate Software, a cloud HR platform, in February.