OMERS Ventures today announced the successful closing of Fund II, its second venture capital fund, with $260 million in commitments.
The OMERS pension plan participated alongside co-investors BMO Financial Group and Cisco Investments in the fund.
“We are proud to be working with BMO and Cisco Investments, our valued co-investors in Fund II,” said John Ruffolo, CEO of OMERS Ventures. “The closing of the fund is a positive signal for Canada’s tech sector, and shows the strong interest of private capital in partnering with innovative technology entrepreneurs.”
“We believe our investment in OMERS Ventures will foster further innovation, entrepreneurship and digitization, and help Canada capitalize on new areas of opportunity,” said Bernadette Wightman, President of Cisco Canada.
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“This fund comes at a great time of burgeoning interest in the Canadian technology sector,” said David Wismer, Managing Director, BMO Capital Markets.
“Fund II builds on the momentum of our Fund I, and the two together represent one of the largest long-term private capital pools active in Canada’s venture sector,” Ruffolo added.