OMERS Ventures to More than Double Tech Investing

by Rob Lewis | Business

Yesterday at the Cantech Investment Conference OMERS Ventures' CEO revealed that they're raising a second, larger round of funding to continue invest in tech startups.

OMERS Ventures' John Ruffolo told Reuters that the VC firm 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.

"It will be a very large fund. It will be larger than our first fund, which was $200 million," he told Reuters.

OMERS was the sole provider of funds for the initial fund but OMERS Ventures is negotiating for an additional capital injection from at least one external strategic partner.

"I never anticipated for our next fund to be anyone but OMERS and now there is unsolicited interest," Ruffolo said. "We're not looking for capital, but some of these partners have some very interesting strategic value for us that we like a lot," he said, adding that a deal should be closed soon.

OMERS Ventures has been active in 2013 with investments in 360 Incentives, Pressly, PasswordBox, Vidyard, HootSuite and Shopify and the launch of OneEleven, Canada's first accelerator created for Data-Driven Entrepreneurs.

OMERS Ventures is a finalists in Techvibes 2013 Venture Capital Firm of the Year Award.

OMERS Ventures
Toronto, Ontario, Canada

We're OMERS Ventures and we are as passionate about your success as you are about your company. We are looking for like-minded partners who have a shared vision of building a vibrant and successful Canadian knowledge economy. OMERS Ventures is the venture capital arm of OMERS, one of Canada's largest pension funds with over $53 billion in net assets. more

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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more

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