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# OMERS Ventures (Europe)
- URL: https://entrepreneurplus.co.uk/graveyard/omers-ventures-europe/
- Published: 2026-10-21T11:09:56.000Z
- Updated: 2026-10-21T11:29:48.000Z
- Description: Canadian pension's $332M European VC unit shut its London office in Sept 2023
- Author: Editorial Desk
- Tags: #ep-grave

✝ Investor · Orderly wind-down · September 2023 

Canadian pension's $332M European VC unit shut its London office in Sept 2023

Companies House

[13261072](https://find-and-update.company-information.service.gov.uk/company/13261072?ref=entrepreneurplus.co.uk) · Active

How it ended

Orderly wind-down

Ended

September 2023

Founded

2019

Type

Corporate VC

Based in

London

Backed by

OMERS

Last known website

[omersventures.com](https://omersventures.com/?ref=entrepreneurplus.co.uk)

Last checked

21 October 2026

## What happened

OMERS Ventures opened a London office in 2019 with a US$332M fund dedicated to European startups, the venture arm of the Ontario Municipal Employees Retirement System. Led in Europe by managing partner Harry Briggs, the team backed Series A and B rounds in UK and continental companies across fintech, software and healthtech. In August 2023 Bloomberg reported that OMERS was pulling the venture unit out of Europe, and the London office closed in September 2023, four years after opening. Two of the four investment staff moved to New York and two, including Briggs, left. OMERS said it would keep its existing European board seats and consider follow-on rounds from New York, but no new European investments would be made. The firm attributed the move to North America being better placed to weather economic uncertainty.

## Why

- Macro / market conditions
- Other / not stated

## What happened to the assets, customers and team

London office closed; European portfolio managed from New York with existing board seats retained.

## In their words

> We have made the decision to shift our focus to North America because we believe it is best positioned to weather the current and future economic storms.
> 
> Damien Steel, global managing partner, OMERS Ventures · [source](https://betakit.com/after-only-four-years-in-market-omers-ventures-is-pulling-out-of-europe-to-focus-on-north-america/?ref=entrepreneurplus.co.uk)

## Lessons

A single-LP venture unit can be withdrawn from a market by its parent at short notice regardless of portfolio performance.

## Sources

1. [bloomberg.com](https://www.bloomberg.com/news/articles/2023-08-08/canada-s-omers-ventures-pulls-from-europe-four-years-after-332-million-fund?ref=entrepreneurplus.co.uk)
2. [betakit.com](https://betakit.com/after-only-four-years-in-market-omers-ventures-is-pulling-out-of-europe-to-focus-on-north-america/?ref=entrepreneurplus.co.uk)
3. [150sec.com](https://150sec.com/omers-ventures-exits-europe-to-focus-on-north-america/?ref=entrepreneurplus.co.uk)
4. [find-and-update.company-information.service.gov.uk](https://find-and-update.company-information.service.gov.uk/company/13261072?ref=entrepreneurplus.co.uk)

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