OMERS Ventures announces a new $750M fund for investing in North America, Europe

OMERS Ventures, the venture capital arm of the Ontario Municipal Employees Retirement System (OMERS), has put together a new, $750 million fund to invest in both Europe and North America.
The capital vehicle is larger than the group’s preceding European and North American funds combined. In 2019 OMERS Ventures announced a €300 million fund Europe-focused fund (TechCrunch covered its launch here), and the venture group’s last North American fund was worth $300 million back in 2017. The new $750 million is a hybrid, acting as both the firm’s Europe-focused capital pool and the source of funds from which it can invest in North American startups.
According to Damien Steel, a managing partner at OMERS Ventures, the firm invested about CAD$100 million from the original Europe fund, with the rest now reserved for follow-on investments; Steel told TechCrunch that he doesn’t anticipate that the full amount will be used for that purpose.
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