The new Teachers’ Innovation Platform (TIP) will be led by Olivia Steedman, currently a managing director of infrastructure and natural resources at the pension fund. The department will invest in late stage companies that “use technology to disrupt incumbents and create new sectors.” (The Logic)

Talking point: Teachers’ had a VC department during the dot com boom called Blackboard Ventures. Its last investment was in 2000, according to Crunchbase data. The return to VC comes four months after The Logic reported that CPPIB was looking to invest up to $1 billion in 10 to 15 venture capital funds in North America, Europe and emerging markets. By contrast, the TIP won’t be “anchored to any particular region,” according to Ziad Hindo, Ontario Teachers’ chief investment officer. This renewed interest from pension funds comes as the banks are in the midst of their own tech push.