OMERS Ventures launches US$750 million venture fund with mandate to invest globally

OMERS Ventures has launched a US$750 million fund, one of the largest ever in Canada. However, after months of negotiations it has not yet received the backing of any other institutional investors.

It is only the second private venture capital fund in Canadian history to launch with over a billion Canadian dollars, based on current exchange rates. However, the pension giant sought the participation of all investors who were part of the $300-million Fund III it closed in May 2017, including BMO, CIBC, National Bank, Sun Life, TD and the Wafra Group. None have yet committed to the new fund. OMERS was planning to announce its launch earlier this year but held off, first in the hopes of attracting other institutional capital, then due to COVID-19, according to multiple sources with knowledge of the situation.

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