OMERS Ventures (OV) has expanded to the United States with the opening of an office in Silicon Valley, according to a news release.
OV, the venture capital arm of the $95-billion Ontario Municipal Employees Retirement System (OMERS), also said it hired Michael Yang to lead U.S. operations as a managing partner.
Yang joins OV from Comcast Ventures, the venture capital arm of Comcast Corp, where he served for nine years as a managing director. Before then, he was an executive at Yahoo and a principal at Atlas Venture.
OV Principal Michelle Killoran will relocate from Toronto to Silicon Valley to provide Yang with additional support.
Managing Partner and Head of Ventures Damien Steel, who replaced John Ruffolo last year, said the new office and resources will allow OV to “deploy additional capital to startups in the U.S.”
OV currently manages $800 million across more than 35 investments in Canada, the United States and Europe.