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Canada’s OMERS Ventures to more than double tech investing: CEO

17
Jan
2014

By Alastair Sharp TORONTO (Reuters) – The venture capital arm of one of Canadas largest pension funds is raising a second, larger round of funding to invest in Canadian technology startups, its chief executive said on Thursday. OMERS Ventures has already secured some funding from its parent, the Ontario Municipal Employees Retirement System, for the second round and has invested some of it, but is now negotiating for more funding from outside sources, CEO John Ruffolo told Reuters on the sidelines of a technology conference. OMERS was the sole provider of funds for the initial round, which sought to support Canadian tech startups, an area in which funding has floundered since the Internet bubble burst. OMERS Ventures is negotiating for an additional capital injection from at least one external strategic partner.

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