OMERS Ventures

Damien Steel serves as Managing Partner and Global Head, overseeing investment strategy and the Toronto-based leadership team. The firm also maintains investment and operations staff across offices in New York, San Francisco, and London. Ultimate governance sits with the OMERS Administration Corporation, which manages the pension plan's assets on behalf of Ontario municipal employees.

The firm recruits operators and industry experts onto its investment team, with the explicit goal of generating referrals from within technology networks. As part of the OMERS pension platform, it can also access deal flow from co-investments and relationships held by OMERS Private Equity and OMERS Infrastructure, though the venture team operates with its own brand and investment committee.

OMERS Ventures is a distinct brand within the OMERS pension plan, operating with its own website, team identity, and venture-focused strategy. Unlike many pension venture programs that invest via fund-of-funds, OMERS Ventures engages in direct equity investing with a team of former founders and operators. The capital, however, is drawn from the pension plan's balance sheet, not from external limited partners.

The firm invests from seed through growth, with a primary focus on early-stage opportunities. Its website lists seed, start-up, expansion/late stage, and general venture across fintech, vertical software, enterprise applications, and AI/infrastructure.

OMERS Ventures invests capital from the Ontario Municipal Employees Retirement System, a defined-benefit pension plan with approximately C$133.6 billion in net assets as of December 31, 2023 (per OMERS, 2023 annual report). The plan covers more than half a million active, deferred, and retired municipal employees across Ontario.

The firm historically pursued direct equity investments across North America and Europe. Following a February 2023 restructuring, OMERS Ventures converted its European presence to a fund-commitment model, redirecting direct investment capital toward North American opportunities (per TechCrunch, February 2023).

OMERS Ventures is one of several investment divisions within OMERS, alongside OMERS Private Equity, OMERS Infrastructure, and Oxford Properties (real estate). The venture arm operates with a dedicated team and separate public brand, but shares the pension plan's permanent capital structure and long-duration investment horizon.