The Ontario Municipal Employees Retirement System’s venture arm is sharpening its focus on early-stage Canadian companies, with plans to invest between $5 million and $15 million in companies it believes can scale, according to a LinkedIn post by Lenz. (The Logic)

Talking point: Lenz, who has been at OMERS for seven years, was appointed managing director and head of ventures on Thursday. In the LinkedIn post, she said OMERS Ventures has two new investments that have yet to be announced. The firm said in the release it will remain “Canada first,” with a particular focus on companies at the intersection of artificial intelligence and defence. Lenz’s appointment comes after OMERS pledged in April to invest an additional $10 billion in Canada over five years. Lenz said in her post that Canadian founders do not lack ambition, but need an ecosystem that can match it with patient capital, early customers and global networks.

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