Michael Yang has been named managing partner and head of OMERS Ventures, the venture capital arm of Ontario Municipal Employees' Retirement System, Vanessa Naughton, a spokeswoman for OMERS, said by email.
"Michael joined the OMERS Ventures team in 2019 to launch our Silicon Valley office, and more recently took on the role of leading our ventures efforts across North America," she said.
Mr. Yang succeeds Damien Steel, who has been named CEO of Montreal-based Deep Sky. Deep Sky is a carbon removal project developer that is building the world's first gigaton-scale carbon capture company, designed to remove billions of tons of carbon from the atmosphere and permanently store it underground, said a Tuesday release.
During his tenure at OMERS, Mr. Steel tripled the size of the platform to $2.5 billion in assets. He will remain as a senior adviser to OMERS Ventures, the release noted.
As of June 30, 2023, OMERS had total net assets of C$127.4 billion ($94.7 billion).
Ms. Naughton further noted that Deep Sky is an OMERS-backed company, with a "deep commitment to combating climate change."