Saar Pikar now head of ventures and growth, with Laura Lenz promoted to managing director.
Michael Yang is stepping down from his role as head of OMERS Ventures as the Canadian public pension fund undergoes a “strategic shift” to refocus its investment activity in Canada, BetaKit has learned.
Former head of OMERS Ventures Michael Yang. Image courtesy OMERS Ventures.In an email sent today by OMERS managing director Saar Pikar, he noted that the pension fund has decided to increase its focus on Canadian investment “while continuing to pursue selective opportunities in the US through both direct investments and strategic partnerships.” The change comes after a strategic review of OMERS’s private equity business.
As part of the new strategy, Pikar will take on an expanded role as managing director and head of ventures and growth. OMERS Ventures partner Laura Lenz has also been promoted to managing director, the email said.
Launched in 2011, OMERS Ventures is the early-stage venture capital (VC) arm of the Ontario Municipal Employees’ Retirement System (OMERS), one of Canada’s largest pension funds. In September 2024, OMERS Ventures was moved under a Private Capital group led by previous senior managing director Michael Block. This group oversees OMERS’s Ventures, Growth, Green Tech, Life Sciences, European and Asia-Pacific private equity activity, as well as the organization’s global funds strategy.
“This evolution builds on our leadership as the first Canadian pension plan to invest directly in early-stage technology,” Pikar’s email reads.
BetaKit has reached out to OMERS and Yang for comment.
Developing…
With files from Douglas Soltys and Josh Scott. Feature image courtesy OMERS Ventures.