OMERS Ventures (Europe)

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.

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

A single-LP venture unit can be withdrawn from a market by its parent at short notice regardless of portfolio performance.