CPE News (4.19.2022) – Ontario Teachers’ Pension Plan Board has rebranded its venture capital and growth equity investment platform, Teachers’ Innovation Platform (TIP), as Teachers’ Venture Growth (TVG).
TIP was established in 2019 and is focusing on late-stage venture and growth equity investments. It holds a CDN $7.1 billion portfolio comprised of 20 direct investments and several partnerships with some of the world’s top venture funds.
Ontario Teachers has re-structured its investment platforms with Teachers’ Venture Growth (TVG) being equally listed with Capital Markets, Equities, Infrastructure & Natural Resources, Real Estate. Teachers’ Private Capital has been relegated to under Equities.
“The new name will provide a clearer definition of the group’s offering as part of a growth plan that will more than double the size of its portfolio to comprise seven to 10 per cent of Ontario Teachers’ net assets over the next five to ten years, up from approximately three per cent today.”
photo credit: Ontario Teachers’
Teachers’ Innovation Platform becomes Teachers’ Venture Growth as part of ambitious growth plan
Teachers’ Venture Growth also announces plans to hire 12 new team members and open San Francisco office in 2022.
TORONTO, April 19, 2022 /CNW/ – Teachers’ Innovation Platform, the venture capital and growth equity arm of the C$242 billion Ontario Teachers’ Pension Plan Board (Ontario Teachers’), today announced a new name of Teachers’ Venture Growth (TVG). The new name will provide a clearer definition of the group’s offering as part of a growth plan that will more than double the size of its portfolio to comprise seven to 10 per cent of Ontario Teachers’ net assets over the next five to ten years, up from approximately three per cent today.
TVG has grown significantly since being established in 2019 to focus on late-stage venture and growth equity investments in cutting edge technology companies. Beginning with an initial investment in SpaceX in June 2019, TVG now holds a C$7.1 billion portfolio comprised of 20 direct investments and several partnerships with some of the world’s top venture funds.
“We’ve built a strong and growing investment department by rolling up our sleeves and helping mission-driven entrepreneurs scale their business, expand their offerings, and become leaders in their markets. We are excited to pursue our next phase of growth under our new name,” said Olivia Steedman, Senior Managing Director, TVG.
TVG pursues its next phase of growth on the back of successive years of strong double-digit returns. TVG plans to make 12 hires over the next year to support its ambitions to grow its global portfolio of investments across various sectors, including fintech, enterprise software, logistics-tech and climatech. TVG will also open a new office in San Francisco later this year to add to its existing presence in the local ecosystem and to work closely with TVG’s offices in Toronto, London and Hong Kong.
“Our offering features a diverse, agile team that can work at speed and access the global network and resources of one of the world’s largest pension plans,” said Ms Steedman. “As we move into our next stage of growth, we will look to build on our existing strengths to support the ambitions of an even broader group of visionary founders, and thereby expand the reach and impact of the companies that are shaping the future for people and the planet.”
TVG’s portfolio includes companies such as Applyboard, Epic Games, ComplyAdvantage, Kry, Tanium, and Pony.ai. Recent investments include leading the £210 million funding round for Lendable, a leading AI-powered consumer finance platform, and participating in the US$420m B-1 funding round for FTX Trading Ltd. owner and operator of FTX.COM, a global cryptocurrency exchange.
About Teachers’ Venture Growth
Teachers’ Venture Growth (TVG) focuses on late-stage venture and growth equity investments in cutting-edge technology companies worldwide. We partner with founders with bold missions, looking to expand their product offering, scale geographically, and become the leaders in their markets. We care about building sustainable companies with good governance, set up to successfully go public if they choose to. We think globally and act locally through our direct presence in San Francisco, Toronto, London and Hong Kong.
TVG is part of the Ontario Teachers’ Pension Plan Board (Ontario Teachers’), a global investor with net assets of C$241.6 billion as at December 31, 2022. We invest in more than 50 countries in everything from equities to real estate to infrastructure and venture growth, to deliver retirement income for 333,000 current and retired teachers in Ontario. With offices in Hong Kong, London, San Francisco, Singapore and Toronto, our more than 350 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.7% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com/teachersventuregrowth and follow us on LinkedIn.
SOURCE Ontario Teachers’ Pension Plan
For further information: Hugh Christopher, Senior Manager, Communications, 647 300 3365, firstname.lastname@example.org