Toronto-based $50.5 billion Ontario Municipal Employees Retirement System is setting up a venture capital unit, Pensions & Investments reports. Omers Ventures will be targeting sectors such as technology, media, telecommunications, clean technology and life-sciences in North America.
The venture capital unit, part of Omers Strategic Investment, is looking to invest nearly $171 million over the next three years. It will provide companies with seed capital worth approximately $474,000 to $1.9 million and a maximum capital of $28.5 million to encourage larger growth.
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