Ontario Capital Growth Corporation (OCGC) has appointed Steve Romanyshyn as its new President and Chief Executive Officer
Romanyshyn fills the position has been vacant when John Marshall, former CEO, became Assistant Deputy Minister – Commercialization and Scale-Ups, Ontario Ministry of Economic Development and Growth(MEDG) and Research, Innovation and Science(MRIS) in October 2016.
Romanyshyn most recently was Director of Innovation Economy Strategies for MEDG and MRIS, a position he held since November 2016. Romanyshyn holds MA in Economics from the University of Victoria.
“To remain competitive in today’s global economy, we need to help high-growth, innovative companies access the risk capital they need to succeed. The OCGC and its employees, including the new CEO, are an important component of Ontario’s innovation ecosystem. Steve has been instrumental in building Ontario’s innovation strategy and he will be an asset to the organization.” —Reza Moridi, Minister of Research, Innovation and Science
“This is an exciting time for OCGC. Capital financing, including venture capital, is critical for innovative start-ups, early stage and expanding companies. We are confident our new President and CEO’s leadership will help us to continue to fulfill our mandate and pursue new opportunities.” —Annie Ropar, Board member, Ontario Capital Growth Corporation
Ontario Capital Growth Corporation (OCGC) is a board-governed provincial agency that makes investments in market-based venture capital funds that are managed by private sector fund managers with a goal to help grow a globally competitive venture capital industry in Ontario and Canada. These externally-managed funds include the Ontario Venture Capital Fund LP, the Northleaf Venture Catalyst Fund LP, and the ScaleUp Venture Fund I LP. The OCGC is also responsible for managing and operating the Ontario Emerging Technologies Fund.
As part of its overall portfolio of fund-of-funds and direct investments, the OCGC is currently helping the province to deliver on its $55 million commitment to invest in one or more cleantech venture capital funds, so that high potential cleantech firms can access the capital they need to grow their business.