Ontario Teachers' Pension Plan, Toronto, is launching a new investment department focused on late-stage venture capital and growth equity investments in companies that use technology to disrupt incumbents and create new sectors.
Olivia Steedman, a founding member and senior leader of the infrastructure and natural resources group, will build and lead the new department, called the Teachers' Innovation Platform, as its new senior managing director.
"This is a time of unprecedented change in multiple areas including computing, materials science, robotics and medicine," Ms. Steedman said in a news release. "There are significant opportunities to invest in the new businesses and sectors that are emerging as a result of this change."
The platform will not be anchored to any particular region.
Ontario Teachers spokeswoman Lori McLeod could not be immediately reached for additional comment.
Ontario Teachers had C$191.1 billion ($140.1 billion) in assets as of Dec. 31.